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Ice cancels flights, snarls traffic; snow in North Texas forecast

DALLAS (AP) — More wintry weather was expected across parts of North Texas through Wednesday.

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Einstein Bagels closing two Tarrant locations

Einstein Bagels is closing two Tarrant County locations, part of a series of 39 closings around the country, according to the company’s owners, JAB Holding Co.

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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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Plans for Grand Prairie indoor ski resort, Hard Rock Hotel evaporate

Plans for a $215 million indoor ski resort and Hard Rock Hotel in Grand Prairie have been shelved. Sherman Thurston, a member of the development team, sent a

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Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

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Oil price falls to near $92


The Associated Press

Oil prices fell Monday after a big jump in the previous trading session that was sparked by expectations the Fed might delay stimulus reduction.

Benchmark U.S. oil for February delivery was down 36 cents to $92.36 a barrel at 0825 GMT in electronic trading on the New York Mercantile Exchange. The contract surged $1.06 to settle at $92.72 a barrel on Friday.

The U.S. added just 74,000 thousand jobs in December, way below market expectations of 196,000 jobs. The unemployment rate fell from 7.0 percent to 6.7 percent, but it was mostly because of a drop in the number of people seeking work.

The weaker hiring led to speculation the Fed would halt or slow plans to reduce its bond purchasing program. The stimulus, which has kept interest rates low, has helped underpin oil prices by weakening the dollar and also by attracting investors to commodities in search of higher profits. A weaker dollar usually boosts oil prices by making crude cheaper for traders using other currencies.

But some analysts said the jobs number was a fluke due partly to bitterly cold weather, following weeks of data showing the U.S. economy improving. As such, the Fed's plan to wind down its economic stimulus is unlikely to change.

The Fed said in December it would start cutting back its stimulus by $10 billion a month, but further cuts would depend on how many new jobs were added in coming months.

Brent crude, used to set prices for international varieties of crude, eased 18 cents at $106.43 a barrel on the ICE exchange in London.

In other energy futures trading on Nymex:

— Natural gas was up 7 cents to $4.09 per 1,000 cubic feet.

— Wholesale gasoline shed 0.3 cent to $2.667 a gallon.

— Heating oil was down 0.4 cent to $2.937 a gallon.

 

 

 

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