Oil prices rise, but cost at pump lower
NEW YORK — Oil prices rose to $89.31 Monday after a volatile session in which prices changed directions several times as investors placed bets on whether OPEC oil ministers will increase production during a meeting later this week.
At the pump, meanwhile, gas prices fell 2.7 cents overnight to a national average of $3.061 a gallon, according to AAA and the Oil Price Information Service.
Fitch sticks with its Qwest ratings
Fitch Ratings on Monday reaffirmed the ratings of Denver-based Qwest and its subsidiaries, citing the telecommunications company’s cost reductions and productivity enhancements.
Fitch affirmed Qwest’s non-investment grade “BB” issuer default rating and its investment-grade “BBB-” senior secured credit facility rating. The ratings service said its action affects about $14.5 billion of debt as of Sept. 30.
Franco-Nevada unchanged in Toronto debut
Franco-Nevada Corp., the company formed to buy Newmont Mining Corp.’s royalty interests, was unchanged in its Toronto Stock Exchange debut, following a $1.1 billion initial public offering.
The stock closed at $15.25 in Toronto Stock Exchange trading, the same price at which the 72 million shares were sold to investors. Newmont acquired the royalty interests through its 2002 takeover of Franco-Nevada Mining Corp.
Workshop to illuminate credit scores
A workshop aimed at helping people understand credit scores will be held on three upcoming Saturdays.
The hour-long presentation, called Raise Your Credit Score, will be held at 10 a.m. this Saturday, Jan. 12 and Jan. 26 at the Capitol Hill United Neighborhoods’ Community Center, 1290 Williams St.
For information, call Todd Merrifield, Wells Fargo Home Mortgage, 720-895-3576, or Dan Barnett at HOME Real Estate, 303-332-2925.
Medical confidentiality in complaint against ex-Fischer Imaging execsM
A judge has ordered that medical information of a witness in a fraud complaint filed against former Fischer Imaging Corp. executives be kept confidential.
The order by U.S. District Court Judge Richard Matsch covers any information on the “medical or psychological condition” of Mark Iwan, a former audit partner at Arthur Andersen LLP.
Iwan was described as a witness in a Securities and Exchange Commission complaint against former executives at Thornton-based Fischer Imaging Corp. who were accused of inflating revenue by $45 million from 2001 to 2003.
Airlines rescind fare boosts
CHICAGO — United Airlines led five of the largest U.S. carriers in rescinding a $20 round-trip increase on most U.S. fares after Continental Airlines Inc. didn’t adopt it.
To remain competitive, airlines often drop fare boosts that aren’t matched by others. UAL Corp.’s United pulled the higher prices, which were begun as a fuel-surcharge increase by Atlanta-based Delta on Nov. 26.
Lennar sells land
MIAMI — Lennar Corp. has sold land in eight states, including Colorado, to Morgan Stanley Real Estate at about 40 cents on the dollar, giving the home builder a $525 million influx in cash as it continues to pare down inventory in the face of the housing crisis.
