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What's In The News: June 17, 2011

Financial News Network
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June 17, 2011 AT 8:51 PM
This is what's in the news for Friday, June 17th. the Wall Street Journal reports that the SEC is considering civil fraud charges against some credit rating firms for their role in developing the mortgage-bond deals that helped bring on the financial crisis, including Standard & Poor's (NYSE:MHP). The Wall Street Journal reports that India's Oil & Natural Gas Corp. (NYSE:ONGC) plans to spend as much as $39B in the five years starting next April to increase output to meet growing demand for energy there. Finally, Reuters reports that PetroChina (NYSE:PTR) had its biggest intraday percentage gain in eight months today, jumping over 5% in Hong Kong, on rumors China may announce a natural gas price rise and a broker upgrade.