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Mexico calls for reducing production of ethanol from grain, cites damage to ranchers

Mexico's agriculture secretary says ethanol production is bankrupting cattle and poultry farmers and causing food prices to hit record highs around the world.

Agriculture Secretary Alberto Cardenas says countries should change their policies and reduce production of grains for the alternative fuel.

Speaking to cattle farmers Wednesday, Cardenas says the government has earmarked more than 9 billion pesos (US$8.75 million) to help 500,000 ranchers.

Mexico froze prices on more  Full Story

Study: 401(k)s and other defined contribution plans growing rapidly, offering more options

Once just a supplement to the pension system, defined-contribution plans such as 401(k)s are growing and changing fast as they evolve into a linchpin of Americans' retirement savings and offer increasingly innovative investment options, a new study indicates.

Boosted by a widespread shift to automatic enrollment and other factors, the defined-contribution market is estimated by McKinsey & Co. to double in size by 2015 to $7.5 trillion to $8.5 trillion in assets under management.

Full Story

Ky. plant reopens after fatal shooting; witnesses describe chaos as 5 co-workers, shooter died

It was swift and chaotic, witnesses said, as the plastics plant worker with a determined look opened fire, killing five co-workers then himself in rural western Kentucky.

Police said Wesley N. Higdon, 25, shot his supervisor outside the plant, then went inside and kept shooting. When the gunfire ended, one of Higdon's co-workers was dead, four others were dying and he had committed suicide.

A witness who hid behind a wall when the gunfire started said a bullet struck a water line, Full Story

•  Oil prices rise sharply as OPEC president says prices could pass $150; Libya may cut output
•  Ky. plant where gunman killed 5 and himself has reopened for limited production
•  OPEC president says oil could hit $170 per barrel this summer and oil prices surge near $139
•  Discover's profit rises 12 percent, sees record third-party payments volume in 2nd quarter
•  ConAgra Foods profit rises 5 pct in 4Q on results from since-sold commodities trading unit
•  Lennar posts narrower 2nd-quarter loss, but sees housing market deterioration ahead
•  Survey says gas prices, flat fuel economy led to decline in satisfaction with new cars
•  Lennar posts narrower 2Q loss, but sees further housing market deterioration for the year
•  Rite Aid reports 1Q loss as chain spends heavily to absorb new stores, misses expectations
•  Dollar higher against the euro after Federal Reserve decision, ECB remarks
•  Thieves stealing diesel fuel supplies from farmers, ranchers across US as prices soar
•  Toyota, Nissan global production expands in May on strong overseas demand
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