What's In The News: June 24, 2011

Financial News Network
June 27, 2011 AT 12:03 AM
This is what's in the news for Friday, June 24th. Bloomberg reports that Oil prices jumped in New York, reversing yesterday's decline, as concerns rose that producers including Saudi Arabia may cut output in response to the International Energy Agency's move to release oil stockpiles. The Wall Street Journal reports that Federal regulators are expected to serve Google (NASDAQ:GOOG) with subpoenas, launching a broad, formal investigation into whether the Internet firm has abused its dominance in Web-search advertising. The New York Post reports that KKR (NYSE:KKR) is said to be close to an approximate $1B deal to buy Web hosting giant Go Daddy. Finally, the Detroit News reports that Chrysler (PINK:FIATY) is preparing a major push into China and will introduce the new Jeep Compass there later this summer.