News on Business

AMSTERDAM (Reuters) - For Dutch pension fund ABP, Michael Jackson's death could be good for business. The passing of the man called "King of Pop" last week has created a run on his music, which is partly owned by Dutch state pension fund ABP. It is the world's third-largest state pension fund after Japan's and Norway's. "There are always certain songs that for whatever reason, in this case tragic, suddenly become very popular. The last fact is a basis for the investment," an ABP spokesman said. ABP ...

BRUSSELS (Reuters) - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps. EU Internal Market Commissioner, Charlie McCreevy, opened an investigation into the sector last October, a month after the collapse of Lehman Brothers, a bank heavily involved in the global $600 trillion off-exchange derivatives market. McCreevy published his findings and policy proposals on Friday which said standardization of contracts -- a process already underway -- is also needed, as well as ...

Oil prices fell further on Friday, but losses were less severe than a day earlier when traders had sold heavily on fresh worries about the weakness of the US economy. In early London trade, Brent North Sea crude for delivery in August dropped 23 cents to 66.42 dollars a barrel. New York's main contract, light sweet crude for August delivery, dipped 22 cents to 66.42 dollars per barrel. Crude futures had sunk more than two dollars on Thursday as weak US jobs data quashed hopes of a ...