Report: Southern U.K.'s shale rich in oil
Shale rock underneath some of the wealthiest counties in southern England may contain billions of barrels of oil, a government report said Friday.
The Weald basin, covering counties south of London including Surrey, Sussex and Kent, may have as much as 8.6 billion barrels of oil, according to a report published by the British Geological Survey. It didn't say how much could be extracted profitably. The U.K.'s current extractable oil reserves are 3.1 billion barrels, data by BP PLC show.
The report is likely to add to the controversy about drilling for shale oil and gas in the U.K. The government wants to develop the resources to cut energy costs and expand the economy. Opponents say the process of hydraulic fracturing, using high volumes of water, sand and chemicals to drill shale, can damage the environment.
Last year, the BGS said the Bowland basin, which extends across east and northwest England, may hold as much as 1,300 trillion cubic feet of gas. That's enough to meet demand for almost half a century with extraction rates similar to U.S. fields, according to Bloomberg calculations.
Agency investigates older Ram pickups
DETROIT -- U.S. safety regulators are investigating whether older-model Ram pickups with manual transmissions can be started without the clutch being depressed.
The investigation covers about 110,000 Ram 2500 and 3500 pickups made by Chrysler from the 2004 through 2006 model years.
The National Highway Traffic Safety Administration said in documents posted on its website Friday that it has three complaints about the problem, including one fatal accident. In that case, a child was able to start a truck without using the clutch. The truck moved forward, striking and killing another child, the safety agency said.
Vehicles with manual transmissions are required to have interlock mechanisms that stop the motor from being started unless the clutch is depressed.
People who file complaints with the agency are not identified. The complaint was filed Feb. 26, and the crash happened Aug. 25, 2013. It involved a 2006 Ram 3500 heavy-duty pickup, according to the complaint.
Raising Cane's settles 'One Love' case
BATON ROUGE -- Bob Marley's estate and Raising Cane's have resolved their legal dispute over the fried chicken-finger chain's use of the slogan "One Love," which also happens to be the title of one of the late Jamaican reggae star's biggest hits.
Todd Graves, founder and chief executive officer of Cane's, tells The Advocate that a "mutually beneficial agreement" was reached. An attorney for Fifty-Six Hope Road Music Ltd. said "mutually agreeable terms" led to a settlement.
Neither side would disclose the terms.
Fifty-Six Hope Road sued Cane's in December for alleged trademark infringement. The estate claimed Cane's never sought or obtained a license or permission to use the Marley One Love trademark.
Cane's then sued Fifty-Six Hope Road seeking a court judgment that it is not infringing on any of the estate's rights. Cane's has used the "One Love" trademark since 2001 with no conflict and registered it with the U.S. Patent and Trademark Office in 2005.
U.S. District Judge James Brady, at the request of both sides, dismissed Fifty-Six Hope Road's lawsuit May 13. The same day, Chief U.S. District Judge Brian Jackson dismissed Cane's suit at the request of the parties.
"Hope Road is glad the matters have been settled upon mutually agreeable terms," Hope Road attorney Timothy Ervin said Wednesday in a written statement. He said that would be Hope Road's only comment.
Cane's has its headquarters in Baton Rouge, with a support office in Plano, Texas.
-- The Associated Press
Suzuki recalls GM-made cars for fire risk
DETROIT -- Suzuki is recalling more than 184,000 small cars in the U.S. because the steering columns can catch fire.
The recall covers Forenza models from 2004 through 2008 and Reno models from 2005 through 2008. Both vehicles were made for Suzuki by General Motors.
The Japanese automaker says the headlamp switch or daytime running light modules can overheat, melt and catch fire on the left side of the steering column.
The company will notify owners and fix the problem for free. It hasn't scheduled the repairs yet.
GM on Wednesday recalled 218,000 Chevrolet Aveo subcompact cars for a similar problem as the company continues to review safety issues and issue recalls.
The recall brings GM's total number of recalled vehicles in the U.S. to about 13.8 million.
-- The Associated Press
Online casinos reassess their marketing
Online gambling's slow start in New Jersey, the most-populous U.S. state to legalize Internet bets, has casinos reassessing their marketing to would-be players.
Boyd Gaming Corp., the leader through its Borgata Hotel Casino & Spa-related websites, is reducing advertising after reporting a $3.2 million loss from the business in the first quarter. 888 Holdings PLC, which operates the US.888.com site, is shifting its advertising focus to slot machines from poker.
"We are absolutely shocked by the slowness of the market," said Brian Mattingley, chief executive officer of London-based 888.
Revenue is coming in at a fraction of what was predicted. New Jersey forecast as much as $1 billion a year when Gov. Chris Christie signed legislation authorizing online play last year. The monthly tally in April was $11.4 million, down from March. The state is one of three, including Nevada and Delaware, to allow casino-style bets online.
"The operators have not seen a positive response to their marketing campaigns," Mattingley said, speaking broadly about the industry. "We've got to think again, the way we market."
Six months after online betting started, some banks are refusing to process online gambling payments, said Tom Ballance, chief operating officer of Borgata, a joint venture between Boyd and MGM Resorts International.
"It's going to be a slower build," Ballance said.
-- Bloomberg News
Business on 05/24/2014