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UN food rights expert urges trading regulation

GENEVA – The UN expert on food rights on Tuesday urged regulation of agriculture commodities trading to stop a speculative bubble that is artificially helping to drive up food prices. Olivier De Schutter, the UN special rapporteur on the right to food, warned that the situation may be amplified by…

Scientists hit on universal theory of bubbles

PARIS — Bubbles don’t just disappear when they pop but deflate in a rapid cascade of ever-smaller “daughter” bubbles, scientists reported on Wednesday. The physics behind this bursting effect seems to hold true whether the liquid is as thin as water or as thick as heavy oil, suggesting that the…

BP executives were aboard rig celebrating safety record when methane triggered blast

The deadly blowout of an oil rig in the Gulf of Mexico was triggered by a bubble of methane gas that escaped from the well and shot up the drill column, expanding quickly as it burst through several seals and barriers before exploding, according to interviews with rig workers conducted…

Finance Crisis chair slams Greenspan: You could’ve, you should’ve, and you didn’t

WASHINGTON (AFP) – Former Federal Reserve chairman Alan Greenspan denied his policies encouraged the type of risky lending that spurred the financial crisis, in testimony to a federal investigative panel Wednesday. The long-time Fed chair — whose reputation as a financial mastermind has been deeply undermined by the crisis —…

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