Public entities across Washington will have to pull a total of $170 million out of JPMorgan Chase because the new owner of Washington Mutual has decided not to become a qualified holder of public funds. (JPM)

COSL has delayed construction of one of the deepwater drilling rigs previously ordered by Awilco Offshore.

Iraq's oil minister on Friday again denounced oil contracts signed by Kurdish authorities with foreign firms as illegal, signalling that a bitter feud over oil in the semi autonomous northern region is far from over.