Report: OPEC wants to stay out of spat


January 23, 2012 at 12:00a.m.

Report: OPEC wants to stay out of spat

cairo

OPEC’s acting president said the producer group should stay out of political battles, Iran’s official IRNA news agency reported Sunday, an apparent bid by the bloc to steer clear of a potential showdown between Tehran and the United States over threats to close the vital Strait of Hormuz.

Iraqi Oil Minister Abdul-Karim Elaibi said that while Iran’s “enemies” have imposed various sanctions on the Islamic Republic, the 12-nation Organization of the Petroleum Exporting Countries’ main focus should be protecting its members’ interest and not being dragged into a political struggle over oil.

Pot-based drug seeks FDA’s OK

san francisco

A quarter-century after the U.S. Food and Drug Administration approved the first prescription drugs based on the main psycho-active ingredient in marijuana, additional medicines derived from or inspired by the cannabis plant itself soon could be making their way to pharmacy shelves, according to drug companies, small biotech firms and university scientists.

A British company, GW Pharma, is in advanced clinical trials for the world’s first pharmaceutical developed from raw marijuana instead of synthetic equivalents— a mouth spray it hopes to market in the U.S. as a treatment for cancer pain.

The company hopes to see FDA approval by the end of 2013.

Vindicator wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .66, 21.74 .03

Avalon Holdings,3.4899.16

Clear Channel, .78 63.18 —.45

Cortland Bancorp, 6.66.00

Farmers Nat.5.13 —.02

First Energy, 2.20, 41.53.39

FirstMerit Corp., .64,16.03 .00

First Niles Financial, .32,7.30.00

First Place Fin., .65.08

FNB Corp., .48,12.43.23

General Motors,25.00.18

General Electric, .68,19.15.00

Motors Liquidation, .0422.00

Huntington Bank, .16, 5.92.13

JP Morgan Chase, 1.00,37.36.43

Key Corp, .12,8.28—.02

LaFarge, 9.97 —.03

Macy’s, .40, 35.38—.44

Parker Hannifin, 1.48, 81.52—3.45

PNC, 1.40,59.63.23

RTI Intl. Metals,26.12—.30

Simon Prop. Grp.,3.60,131.66.44

Stoneridge 9.19 —.28

United Community Fin. 1.29.01

Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.