100402 news 02
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2 | FRIDAY, APRIL 2, 2010 THE CHRONICLE STORE WITH US IN CONFIDENCE! STUDENT SPECIAL! E-Z access from campus via Durham Freeway 147 to Alston Ave exit.Proceed south on Alston Ave./Hwy. 55 to Riddle Road and turn left. At 4-way stop sign, turn right and we’ll be on your right about 1/2 mile. • No deposit • Month to month leases • No administration fee • Climate control available • Free unit lock • Access daily 6am to 10pm ALSTONAVESELFSTORAGE.COM 957-2711 Out of area, call toll-free 866-957-2711 2542 S Alston Ave., Durham, NC 27713 First Month 1 / 2 P R I C E with SUMMER RENTAL (minimum 3 months pre-paid) “ ” world and nation LONDON — Lakshmi Mittal, chief exec- utive officer of ArcelorMittal, the world’s biggest steelmaker, is stoking controver- sy over how global prices are set by tell- ing consumers that raw-material costs may push steel rates up 21 percent. “The cost of producing steel is going to go up and will be passed on to custom- ers,” Mittal said in an interview in London Wednesday. Benchmark European hot- rolled coil prices will rise by $150 a metric ton in the second quarter, he said. Steelmakers are passing on costs af- ter Vale, the largest iron-ore producer, scrapped a four-decade system of set- ting annual prices and boosted prices for Japanese steelmakers as much as 90 percent. Carmakers, the biggest users of steel, are crying foul. The European Automobile Manufacturers’ Association, which represents companies including Volkswagen, PSA Peugeot Citroen and Fiat, said Wednesday members want European Union regulators to “tackle distortive developments” caused by the changes from mining companies. “The necessity to increase prices is gener- ating the ire of customers and a bitter battle is raging,” said Christian Georges, an analyst at Olivetree Securities who has tracked in- dustry and resources for 15 years. Benchmark hot-rolled coil currently costs about $700 a ton, based on Metal Bulletin data. The coiled steel is used by firms from Toyota, the world’s biggest carmaker, to Royal Philips Electronics, the largest lighting company. Eurofer, a group representing steel- makers in Europe, said a shift to shorter contracts for iron ore at higher rates may boost costs for their customers by as much as a third. I like Duke to cut the nets down. — Jay Bilas TODAY IN HISTORY 1748: Ruins of Pompeii found WASHINGTON, D.C. — The Obama ad- ministration finalized the first national rules curbing greenhouse gas emissions Thursday, mandating that the U.S. car and light-truck fleet reach an average fuel ef- ficiency of 35.5 miles per gallon by 2016. The new fuel efficiency standards, is- sued by the Transportation Department and the EPA as the result of a May 2009 deal with the auto industry, represent a peaceful end to a contentious legal battle over how to regulate tailpipe emissions. At a time when it remains unclear wheth- er Congress can pass climate legislation this year, the new rules also mark the White House’s most significant achieve- ment yet in addressing global warming. In a speech Wednesday, President Obama said the standards “will reduce our dependence on oil while helping folks spend a little less at the pump.” Jobless claims decrease WASHINGTON, D.C. — Fewer Ameri- cans filed claims for jobless benefits last week, bringing the average over the past month to the lowest level since 2008, as the economic recovery prompted com- panies to retain staff. Initial jobless applications declined by 6,000 to 439,000 in the week ended March 27, in line with the median forecast of economists surveyed by Bloomberg News, Labor Department figures showed Thursday in Washington. The number of people receiving unemployment insur- ance was little changed, while those get- ting extended benefits rose. Employers are slowing job cuts, a sign of confidence, as the United States emerges from the worst recession since the 1930s. Sustained employment gains are needed to boost spending, which accounts for about 70 percent of the economy. TODAY: 85 47 SATURDAY: 83 52 Mittal stirs up controversy as price of steel rises U.S. government finalizes nat’l rules for fuel efficiency MICHAEL BIRNBAUM/THE WASHINGTON POST In Madisonville, Texas, residents have taken a strong stance against President Barack Obama’s recent call to state boards of education by embracing local control of schools. Disagreeing with Obama’s emphasis on math and science, residents of the small town believe the humanities, such as literature and social studies, should be of higher importance for social and religious purposes.
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Jobless claims decrease TODAY IN HISTORY Mittal stirs up controversy as price of steel rises U.S. government finalizes nat’l rules for fuel efficiency STORE WITH US IN CONFIDENCE! ALSTONAVESELFSTORAGE.COM I like Duke to cut the nets down. — Jay Bilas Out of area, call toll-free 866-957-2711 2542 S Alston Ave., Durham, NC 27713 • No deposit • Month to month leases • No administration fee • Climate control available • Free unit lock • Access daily 6am to 10pm THE CHRONICLE TODAY:
Transcript of 100402 news 02
2 | FRIDAY, APRIL 2, 2010 THE CHRONICLE
STORE WITH US IN CONFIDENCE!
STUDENT SPECIAL!
E-Z access from campus via Durham Freeway 147 to Alston Ave exit. Proceed south on Alston Ave./Hwy. 55 to Riddle Road and turn left. At 4-way stop sign, turn right and we’ll be on your right about 1/2 mile. • No deposit • Month to month leases • No administration fee • Climate control available • Free unit lock • Access daily 6am to 10pm
ALSTONAVESELFSTORAGE.COM
957-2711 Out of area, call toll-free 866-957-2711
2542 S Alston Ave., Durham, NC 27713
First Month
1 / 2 P R I C E
with SUMMER RENTAL
(minimum 3 months pre-paid)
“ ”
worldandnationLONDON — Lakshmi Mittal, chief exec-
utive officer of ArcelorMittal, the world’s biggest steelmaker, is stoking controver-sy over how global prices are set by tell-ing consumers that raw-material costs may push steel rates up 21 percent.
“The cost of producing steel is going to go up and will be passed on to custom-ers,” Mittal said in an interview in London Wednesday. Benchmark European hot-rolled coil prices will rise by $150 a metric ton in the second quarter, he said.
Steelmakers are passing on costs af-ter Vale, the largest iron-ore producer, scrapped a four-decade system of set-ting annual prices and boosted prices for Japanese steelmakers as much as 90 percent. Carmakers, the biggest users of steel, are crying foul. The European Automobile Manufacturers’ Association, which represents companies including
Volkswagen, PSA Peugeot Citroen and Fiat, said Wednesday members want European Union regulators to “tackle distortive developments” caused by the changes from mining companies.
“The necessity to increase prices is gener-ating the ire of customers and a bitter battle is raging,” said Christian Georges, an analyst at Olivetree Securities who has tracked in-dustry and resources for 15 years.
Benchmark hot-rolled coil currently costs about $700 a ton, based on Metal Bulletin data. The coiled steel is used by firms from Toyota, the world’s biggest carmaker, to Royal Philips Electronics, the largest lighting company.
Eurofer, a group representing steel-makers in Europe, said a shift to shorter contracts for iron ore at higher rates may boost costs for their customers by as much as a third.
I like Duke to cut the nets down.
— Jay Bilas
TODAY IN HISTORY1748: Ruins of Pompeii found
WASHINGTON, D.C. — The Obama ad-ministration finalized the first national rules curbing greenhouse gas emissions Thursday, mandating that the U.S. car and light-truck fleet reach an average fuel ef-ficiency of 35.5 miles per gallon by 2016.
The new fuel efficiency standards, is-sued by the Transportation Department and the EPA as the result of a May 2009 deal with the auto industry, represent a peaceful end to a contentious legal battle over how to regulate tailpipe emissions. At a time when it remains unclear wheth-er Congress can pass climate legislation this year, the new rules also mark the White House’s most significant achieve-ment yet in addressing global warming.
In a speech Wednesday, President Obama said the standards “will reduce our dependence on oil while helping folks spend a little less at the pump.”
Jobless claims decreaseWASHINGTON, D.C. — Fewer Ameri-
cans filed claims for jobless benefits last week, bringing the average over the past month to the lowest level since 2008, as the economic recovery prompted com-panies to retain staff.
Initial jobless applications declined by 6,000 to 439,000 in the week ended March 27, in line with the median forecast of economists surveyed by Bloomberg News, Labor Department figures showed Thursday in Washington. The number of people receiving unemployment insur-ance was little changed, while those get-ting extended benefits rose.
Employers are slowing job cuts, a sign of confidence, as the United States emerges from the worst recession since the 1930s. Sustained employment gains are needed to boost spending, which accounts for about 70 percent of the economy.
TODAY:
8547 SATURDAY:
8352
Mittal stirs up controversy as price of steel rises
U.S. government finalizes nat’l rules for fuel efficiency
MICHAEL BIRNBAUM/THE WASHINGTON POST
In Madisonville, Texas, residents have taken a strong stance against President Barack Obama’s recent call to state boards of education by embracing local control of schools. Disagreeing with Obama’s emphasis on math and science, residents of the small town believe the humanities, such as literature and social studies, should be of higher importance for social and religious purposes.
