U.S. denies opposing Germany's IMF candidate

Article Abstract:

US officials have denied reports alleging that they have been drumming up opposition against Horst Koehler, Germany's candidate for the leadership of the International Monetary Fund (IMF). The allegations were made by German periodical Der Spiegel, whose story might reportedly be an effort to pressure the US into clarifying its stand on the Koehler nomination. US support is critical for any IMF nominee because voting power at the IMF is determined by the amount of money that donor nations contribute.

International economic relations, All Other Nondepository Credit Intermediation, Financial Institutions NEC, Financial institutions

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OPEC boosts output 2.8%

Article Abstract:

Sources say that the Federal Trade Commission will most probably subpoena up to nine petroleum companies during the week of Jun 26, 2000, as part of its investigation into rocketing gas prices in the Midwest. A survey found that during the week of Jun 12, 2000, gasoline prices in Milwaukee, WI, surpassed $2.04 a gallon and surpassed $2.13 per gallon in Chicago, IL. Yet the EPA noted that wholesale gasoline prices in those cities dropped by 25 cents a gallon during the same period. Furthermore, the Energy Dept announced that the national average is $1.68 a gallon of gas.

Government regulation (cont), Petroleum Refineries, Gasoline

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