Reality Setting In For The Oil Majors

Third quarter earnings capture some of the worst losses recorded since the downturn in oil prices began last year. Oil prices have displayed great volatility over the last twelve months, rallying to $60 per barrel in the second quarter before dropping back down to current levels in the mid-$40s. That has contributed to some large impairment charges and quarterly losses for the world’s biggest oil companies. Here is a quick snapshot of some of the quarterly figures:

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Home flippers get creative as competition heats up

Property flipping in today’s rocky housing recovery means staying one step ahead of the game — a game that is becoming increasingly cutthroat. Foreclosures are drying up and cash-heavy hedge funds are still buying low-end properties to rent. For a home flipper, someone who buys and sells a home in the same calendar year, the pickings are ever slimmer, but the profit can still be high.

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