BRIEFCASE PRICE OF GAS DIPS; SHOULD STAY STABLE.Byline: - Staff and Wire Services Gasoline prices fell in the Los Angeles area this week, the Automobile Club of Southern California The Automobile Club of Southern California was founded December 13, 1900 in Los Angeles as one of the nation's first motor clubs dedicated to improving roads, proposing traffic laws and improvement of overall driving conditions. reported Friday. For the past three weeks, prices have remained relatively stable, with average changes being less than 1 cent in either direction, according to the Auto Club. The average price of self-serve regular unleaded in the Los Angeles area is $1.624 per gallon, four-tenths of a cent less than last week, 5 cents more than last month and 25 cents less than at this time last year. ``We're just about at the midway point in the summer driving season and we've seen prices remain on a level-to-slight-downward curve,'' said Auto Club spokeswoman Carol Thorp. ``There don't appear to be any supply or demand factors that would change prices dramatically from their current levels.'' N.Y. investigating PayPal gambling MOUNTAIN VIEW - Online payment provider PayPal Inc. said the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of state Attorney General's Office has issued a subpoena seeking information about the company's involvement in Internet gambling. Mountain View-based PayPal received the subpoena earlier this week and plans to ``cooperate fully'' with the request, company spokesman Vince Sollito said Friday. A spokeswoman for the office of New York state Attorney General The New York State Attorney General is the chief legal officer of the State of New York. The office has been in existence in some form since 1626, under the Dutch colonial government of New York. Eliot Spitzer declined to comment on the request. Spitzer, who has attracted headlines recently for cracking down on alleged conflicts of interest at investment banks, has been scrutinizing the online gambling market industry, which is expected to hit $4 billion in revenue this year. America Online seeks new leader NEW YORK - AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Inc. is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a new leader for its struggling America Online division, where Bob Pittman, the media conglomerate's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , was dispatched just three months ago to turn things around. The company has hired the blue-chip executive headhunting headhunting Practice of removing, displaying, and in some cases preserving human heads. Headhunting arises in some cultures from a belief in the existence of a more or less material soul that resides in the head. firm Spencer Stuart to make the search, AOL Time Warner spokeswoman Tricia Primrose said, confirming a story that first appeared in The Wall Street Journal. Primrose declined to comment on speculation that the search for a replacement for Pittman as AOL chief could signal that Pittman was considering leaving the company. She said the search was to be expected since Pittman's assignment to lead AOL was always meant to be on an interim basis. Sprint Corp. to cut 1,100 employees OVERLAND PARK, Kan. - Sprint Corp. said Friday that it will cut 1,100 employees and eliminate an additional 100 unfilled positions, the latest effort to cut costs at the nation's third-largest long-distance company. The cuts will come from the Overland Park, Kan.-based company's global markets division, which includes most of Sprint's struggling long-distance business. The company, which employs 80,000 people, did not say where the jobs would be cut. The cuts, which will come through layoffs and normal attrition, are expected to occur over the next several weeks. Duke Energy gets federal subpoena CHARLOTTE, N.C. - Duke Energy said Friday that it had received subpoenas from federal authorities and was responding to the requests for information about energy trading practices. Word of the subpoenas pushed down Duke's stock more than 11 percent, with shares settling Friday on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. at $24.75, down $3.20 from a day earlier. The subpoenas from the Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC), the federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974 (88 Stat. 1389; 7 U.S.C.A. 4a), approved October 23, 1974. and the Houston office of the U.S. attorney request documents and information about Duke's trading activities, including so-called round-trip trading Round-Trip Trading An action that attempts to inflate transaction volumes through the continuous and frequent purchase and sale of a particular security, commodity or asset. . Duke Energy said it is fully cooperating with the investigations, as it has with other government organizations inquiring into the same issues. |
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