OPEC held its year-old output targets unchanged Tuesday, as the group grappled with overproduction by some in its ranks that could undercut efforts to support oil prices amid a fragile global economic recovery.
The Organization of the Petroleum Exporting Countries wrapped up its meeting Tuesday by deciding that the best plan of action was not to act. The 12-member bloc highlighted concerns about the strength of the global economic recovery, and again called on oil producers outside the group to cooperate in propping up oil markets.
The lack of action appears meant to avoid shocking an oil market in which crude prices have stayed within range of OPEC’s unofficial target of $75 a barrel for months.
President Barack Obama took his plea for more small business lending to community bankers Tuesday, but his prodding was far gentler than it was with high finance CEOs last week.
The president offered to help ease regulation that bankers say has restricted lending. He praised the small bankers as pillars of their communities. And he listened sympathetically to their pleas for easier access to capital.
That’s a different tone than last week when he famously called top bankers “fat cats” in a television interview.
A federal appeals court ordered Microsoft Corp. to stop selling its Word program in January and pay a Canadian software company $290 million for violating a patent, upholding the judgment of a lower court.
But people looking to buy Word or Microsoft’s Office package in the U.S. won’t have to go without the software. Microsoft said it expects new versions of the product, with the computer code in question removed, will be ready for sale when the injunction begins on Jan. 11.
Boeing’s second 787 flew for a little over an hour Tuesday and had a little problem along the way.
The jet took off Tuesday from Paine Field and landed one hour and six minutes later at Boeing Field.
Test pilots are reporting the main landing gear door had problems retracting.
The 787 program has been plagued by ill-fitting parts and other problems. The first flight was supposed to be in 2007, but Boeing was forced to push that back five times.