Commodities Are King, the Weather’s For Sale
Oil, gold, and other commodities go up in step with recession fears. Landmark Communications is putting itself, and The Weather Channel, up for sale. And Netflix and LG Electronics team up.
NEWS AT A GLANCE
Oil and gold flirt with record highs
Gold hit a new high of $863.11 an ounce early today, not adjusted for inflation, and oil futures hovered near the record $100-a-barrel mark set during trading yesterday, as investors turned to commodities as a hedge against inflation. Palm oil also hit a new high, soybean traded at a 34-year high, and wheat and corn shot up. (Bloomberg) “This is a bullish extravaganza,” said Phil Flynn at futures brokerage Alaron Trading. (MarketWatch) Analysts said the high price of oil, in particular, could tip the U.S. into recession, although some doubted that oil would stay as high as $100. (BusinessWeek.com)
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The Weather Channel to go up for sale
Family-owned media company Landmark Communications is looking to sell its assets, which include nine daily newspapers and The Weather Channel, according to Landmark’s flagship paper, The Virginian-Pilot. (AP in Yahoo! Finance) The Weather Channel, one of the last independent cable channels, could sell for more than $5 billion, with NBC, News Corp., and Comcast all interested in the channel and its Web site, weather-dot-com. The Web site is the 18th most frequented, topping Facebook and CNN. (The New York Times, free registration required)
Netflix shoots for instant gratification
Mail-based DVD renter Netflix and LG Electronics are teaming up to provide Netflix customers with ways to view movies on their TV through an Internet connection. The partnership is an extension of Netflix’s year-old online movie-viewing service, which has been hampered by its reliance on PCs. (BusinessWeek.com) Netflix also plans to team up with other electronic companies and stream movies to other devices. (The New York Times, free registration required) Rival movie-download service CinemaNow is also looking to expand though a partnership with software firm Macrovision. (AP in Yahoo! Finance)
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Laptop as fashion accessory
In an acknowledgment that style is becoming more important in selling computers, Microsoft is holding a “fashion show” next week to demonstrate that Windows-based laptops can be just as stylish as Apple’s wares. Research shows that consumers will pony up an extra $204 for a well-designed, high-end laptop, and companies like Lenovo, HP, Sony, and even Dell are becoming increasingly fashion-conscious in response. “We’re entering the age of style because we have multiple PCs in our households,” explains Forrester Research analyst J.P. Gownder. “You no longer have one white box that serves every function for every person in the household.” (BusinessWeek.com)
Create an account with the same email registered to your subscription to unlock access.
-
Today's political cartoons - September 7, 2024
Cartoons Saturday's cartoons - football widows, meddling kids, and more
By The Week US Published
-
Smoking ban: the return of the nanny state?
Talking Point Starmer's plan to revive Sunak-era war on tobacco has struck an unsettling chord even with some non-smokers
By The Week UK Published
-
Crossword: September 7, 2024
The Week's daily crossword puzzle
By The Week Staff Published