john paulson

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Wall Street Journal reports, Crude-oil futures tumbled 2.3%, to $105.61 a barrel, after Saudi Arabian officials suggested, the world's largest crude exporter will try to rein in prices. The Mideast nation said late Monday, it would work with other producers to "restore oil prices to levels that are fair for producers, consumers and the oil industry," according to a statement from the Saudi cabinet posted by the country's official news agency. Additionally, Saudi Oil Minister Ali al-Naimi said, that "There is no shortage of supply in the market," and added that his country could raise output to 12.5 million barrels a day if needed. The Wall Street Journal also reports, bowing to pressure from hedge-fund titan John Paulson, Hartford Financial Services Group said today, it would exit its annuity business and weigh a sale of a large portion of its life-insurance operation. Mr. Paulson, whose hedge fund is Hartford's largest shareholder, became the latest to push for such a move when he took to the company's fourth-quarter-earnings call in February to criticize management and urge them to "do something drastic" to boost the share price. Bloomberg reports, Apple's new iPad runs "significantly hotter" than the earlier model when handling processor-intensive tasks, such as playing graphics-heavy games, according to Consumer Reports. The newest version of the market-leading tablet computer ran as hot as 116 degrees Fahrenheit (47 degrees Celsius). Reuters reports, Angry Birds maker Rovio is teaming up with a major U.S. retail chain to sell its merchandise, and plans to open themed activity parks in Britain, as it continues to expand beyond mobile games to establish a Disney-style brand, it said today. Finally the Associated Press reported on the most disconcerting trend in human resources: job applicants being asked to hand over their Facebook passwords. Nearly 90 percent of recruiters have admitted to doing background Internet research on job candidates, and, according to the experts, you should pretty much expect to be Googled for any job you apply for.