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OPEC Reduces Oil Output By 4%
1The 11-nation cartel, ignoring high prices, opted to cut 1 mil barrels a day starting April 1. OPEC pumps roughly a third of the world's oil. Some Gulf producers sought a delay, but Saudi Arabia and some other big producers didn't. The White House called OPEC's move disappointing. Crude futures fell 49 cents to $35.76 a barrel on strong U.S. stockpile gains. More on this page
FASB Says Options Are Expenses
2In an expected move, the Financial Accounting Standards Board recommended that U.S. firms be required to treat employee stock options as income statement expenses. Under the rule, S&P 500 earnings per share would …