BUSINESS BRIEFS
Gas pump prices expected to ease
Advertiser News Services
| |||
The big run-up in gasoline prices at the pump — 45 cents a gallon in the past month nationwide — may soon ease, many oil and gas analysts say. The rapid rise has been driven by expectations of a global economic recovery later this year and seasonal increases from Memorial Day to the summer driving season, industry analysts say. Some predict prices could start to fall this month if expectations for a rebound in demand for gas prove too rosy.
INVESTMENT ALLIANCE HIRES GE VET
DUBAI, United Arab Emirates — General Electric Co. and its Abu Dhabi-backed investment partner tapped 25-year GE veteran Ron Herman yesterday to lead their $8 billion joint venture, part of what they called "significant progress" on an alliance struck nearly a year ago.
The announcement came as GE and Mubadala Development Co. formalized the commercial finance partnership and laid out plans for a corporate leadership center.
LIVE NATION NIXES SOME TICKET FEES
LOS ANGELES — Live Nation Inc., the world's largest concert promoter, is opening the summer season with a weekly promotion that eliminates some ticket fees.
Live Nation is scrapping fees for U.S. amphitheater lawn seats in a 24-hour sale on its Web site starting at 12:01 a.m. in every local time zone on Wednesday. Five million tickets at 43 Live Nation venues are up for grabs; the deal continues on a smaller scale every Wednesday this summer.