The ups and downs of cheap oil

January 07, 2015 - Daily News Briefing

Consumers have something to smile about. But Saudi oil policy may have international consequences.

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Strong currents forced Indonesia to expand the search area for the crashed AirAsia plane Tuesday, as rough seas and bad weather pushed debris and made it difficult to reach suspected chunks of the fuselage on the ocean floor. Two more bodies were retrieved Tuesday, bringing the total to 39. The search operation will expand by about 70 square miles, search and rescue chief Henry Bambang Soelistyo said.

Former New York Gov. Mario Cuomo's legacy as a liberal leader, powerful orator and immigrant's son whose humble upbringing inspired his approach to public service were championed at his funeral Tuesday by an inarguable heir to his example – Gov. Andrew Cuomo, his son. The former three-term governor – who flirted with but never made a presidential run and turned down an opportunity to be nominated for a US Supreme Court seat – was a humanist whose politics were part-and-parcel of his beliefs, not strategies for pleasing people, the younger Cuomo said.

Turkish police briefly detained a Dutch reporter on terrorism-related charges on Tuesday, highlighting accusations of media persecution on a day President Tayyip Erdogan declared that Turkish journalists enjoyed more freedom than any in Europe. Frederike Geerdink, based in the mainly Kurdish city of Diyarbakir in southeastern Turkey, tweeted that police had searched her home and she was being detained for "propaganda for a terrorist organization." The Dutch foreign minister, visiting Ankara, said he was shocked. Ms. Geerdink tweeted three hours later that she had been freed after giving a statement to police. The head of the bar association in Diyarbakir told Reuters the case was connected to Geerdink's tweets and other issues but did not elaborate.

Former Virginia Gov. Bob McDonnell, once on the short list to be Mitt Romney's vice presidential running mate, was sentenced Tuesday to two years in federal prison for taking bribes to promote a dietary supplement. The punishment was far below the 10 years prosecutors initially wanted, but still more than the community service the former governor, his defense team and hundreds of supporters argued for.

California's high-speed rail project reached a milestone Tuesday as officials marked the start of work on the nation's first bullet train, which is designed to whisk travelers at 200 mph between Los Angeles and San Francisco in less than three hours. The ceremony in Fresno came amid challenges from Central Valley farmers and communities in the train's path who have sued to block it and from Republican members of Congress who vow to cut funding for the $68 billion project. Opponents also say the state can't deliver the sleek project as it was first promised.

Randy Johnson, Pedro Martinez, John Smoltz and Craig Biggio were elected to baseball's Hall of Fame on Tuesday, the first time since 1955 writers selected four players in one year. The Big Unit, Martinez and Smoltz earned induction on their first tries, and Biggio made it on the third attempt after falling two votes shy last year. Steroids tainted stars Roger Clemens, Barry Bonds, Mark McGwire and Sammy Sosa remained far from election.

Luxury handbag and accessories company Coach (COH) is expanding its footwear collection, buying Stuart Weitzman Holdings LLC from private equity firm Sycamore Partners for about $530 million. Coach Inc. will also make up to $44 million in contingent payments to Sycamore Partners if certain revenue targets are hit over the three years after the deal closes.

“The object of the Monitor is to injure no man, but to bless all mankind.” – Mary Baker Eddy

The Daily News Briefing is published Monday through Friday by The Christian Science Publishing Society in Boston, Massachusetts.

To send a comment to the Editor, email editor@csmonitor.com.

“The object of the Monitor is to injure no man, but to bless all mankind.” – Mary Baker Eddy

The Daily News Briefing is published Monday through Friday by The Christian Science Publishing Society in Boston, Massachusetts.

To send a comment to the Editor, email editor@csmonitor.com.

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