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Published 05/21/2008 - 8:45 a.m. GMT
Oil prices rose above $130 a barrel Wednesday for the first time, as supply concerns mounted and the dollar weakened.
Light, sweet crude for July delivery hit a record $130.47 a barrel in electronic trade on the New York Mercantile Exchange after closing at $128.98 in the floor session. By afternoon in Europe, it had retreated to $129.77 a barrel, up 79 cents.
The June contract, which expired Tuesday, settled overnight at $129.07 a barrel.
In London, July Brent crude was up $1.17 to $129.01 a barrel on the ICE Futures exchange in London. Earlier in the session, Brent rose as high as $129.92.
The dollar had become less of a factor as attention turned to supply and demand concerns, but that seems to have changed this week.
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Published 05/21/2008 - 7:43 a.m. GMT
An accident involving a school bus was reported just after 7 a.m. on North Hubbards Lane and Blenheim Road, according to MetroSafe Communications.
No injuries were reported in the accident.
It was not clear whether the bus was a Jefferson County Public Schools bus, a dispatch supervisor said.
No other information was available.
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Published 05/21/2008 - 7:30 a.m. GMT
BJ's Wholesale Club Inc. says its first-quarter profit rose nearly 26 percent amid a tough economy that's helping discount retailers entice increasingly budget-conscious shoppers.
The nation's third-largest discount warehouse club also raised its earnings expectations for the full year.
BJ's said Wednesday it earned $17.19 million, or 29 cents per share, in the three months ended May 3. That's up from a profit of $13.65 million, or 21 cents per share, a year ago.
The latest profit beats analysts' estimate by a penny a share.
BJ's says sales grew 12 percent to $2.26 billion.
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