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Oil Barrels

Fears for US economy as shale industry goes into hibernation

America’s fracking revolution is becoming a victim of its own success. The controversial boom in shale gas and oil has driven the US economic recovery and helped lower world crude prices. But a price plunge from $115 (£75) a barrel last June to just above $50 last week means many shale operations no longer pay.

Alan Greenspan still pic

Ayn Rand would have been 110, and still influential years later

Modern-day capitalism has no shortage of heavyweight scholars - names such as Milton Friedman, Adam Smith, Friedrich von Hayek and Murray Rothbard are among the most prominent names that surface among free market thinkers. Yet the person most frequently evoked by proponents and detractors alike was neither a trained economist nor a traditional businessperson.

Morgan Stanley building

People News - Morgan Stanley, RBS

Morgan Stanley co-head of mergers and acquisitions for EMEA Johannes Groeller is to join Paul Taubman's advisory boutique, a source familiar with the move has told Reuters.