France has talked to the U.S. and the U.K. on a possible release of strategic oil stocks to push fuel prices lower, said a report from French newspaper Le Monde. The newspaper said a release of strategic oil stocks "is a matter of weeks." Oil prices fell to near $106 a barrel Wednesday in Asia following a larger-than-expected jump in U.S. crude supplies. Crude prices have risen from $75 a barrel in October.
Goldman Sachs senior executives have talked about splitting the roles of CEO and chairman, reports said, but pressure for such a move may have eased after a union pension fund withdrew its proposal to divide the chairman and CEO jobs after Goldman agreed to change its board structure. The deal between Goldman and the American Federation of State, County and Municipal Employees means the securities firm will appoint a "lead" director, but shareholders won't get a chance to vote at the firm's annual meeting in May on the proposal to replace Chairman and CEO Lloyd Blankfein with an independent chairman, The Wall Street Journalreported.
The board of exchange operator Bats Global Markets said it supports CEO Joe Ratterman, but wants to split the roles of CEO and chairman. Ratterman has held both posts since 2007 Bats was forced to pull its initial public offering on Friday following a computer glitch. "Bats experienced a serious technical failure Friday morning and I want to apologize for not measuring up," said Ratterman, in an email on Sunday. The board said it supports Ratterman's "leadership, vision and strategic direction as Bats continues to enhance competition and foster innovation in markets worldwide."
Former Lakers star Magic Johnson and long-time baseball executive Stan Kasten are part of a group that agreed to buy the Los Angeles Dodgers from Frank McCourt for a record $2 billion. Mark Walter, CEO of Guggenheim Partners, will become the club's controlling owner. The $2 billion price tag tops the $1.1 billion Stephen Ross paid for the Miami Dolphins in 2009, and the $1.47 billion the Malcolm Glazer family paid for Manchester United in 2005.
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