| Energy prices hit more record highs
NEW YORK - The rise in energy prices gained momentum yesterday, with retail gasoline prices increasing further into record territory and diesel and heating-oil futures setting records of their own amid concerns about strong global demand and tight supplies. Crude-oil prices fell modestly as a sharp downturn in the stock market and worries about the economy prompted some profit-taking. But with the Federal Reserve expected to cut interest rates again next week, analysts expect the dollar to weaken further, propelling crude to new heights. At the pump, gasoline prices set records for the fourth straight day, rising 1.3 cents yesterday to a national average price of $3.28 a gallon, according to AAA and the Oil Price Information Service. Average prices are nearing $4 in some parts of Hawaii. In Philadelphia, the average pump price rose a penny yesterday, to $3.21 a gallon.
U.S. economy frayed as oil soars, dollar falls and foreclosures mount
WASHINGTON -- Oil hit a record high, the dollar sank again, and consumers stopped buying pretty much everything. Stocks kept gyrating, too, Thursday, swinging between gloomy recession evidence and rising hopes that all the bad news would bring another aggressive cut in interest rates when the Fed- eral Reserve meets next week. The Bush administration, conceding that the economy is facing "difficult" times now, rushed out new proposals aimed at next time -- plans to fix various problems that have led to a severe crisis in credit markets. Administration officials predicted an economic rebound once the impact of the Fed's credit cuts and the recently passed eco- nomic stimulus package begin to be felt. Private analysts were not as confident, worrying that the economy is being hit by multiple blows and noting that some of the problems, such as plunging home sales and mortgage defaults, are showing no signs of abating.
ZNext Mining Provides Update on XYZ Mining Project Following Management Visit to Masbate
ZNext Mining Corporation, Inc. (USA OTC Common: ZNXT)(OTC Preferred: ZNXTP); (GERMANY Xetra: R1z.De)(Frankfurt: R1z.F) announced today that following a visit by CEO Jason Piamonte and investor relations director Madeleine Franco to the Philippines, the company has set forth an operating schedule and is refining a budget for activity at the XYZ mine site during the next three months (April, May and June), coinciding with the region's dry season. Notwithstanding recent heavy rains, Piamonte and his party, with the assistance of the local indigenous people, hiked approximately 7km into the mine site and back to the main road, traversing hilly topography covered by tropical vegetation, and crossing two rivers enroute. They visited the areas on which the company expects to construct during the next several months the miners' barracks, ore stockpiling area, mill plant, field laboratory, and tailings pond necessary for exploitation of the mineral site.
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