BP OIL SPILL
Oil spill which occurred in the Gulf of Mexico in 2010 due to explosion and sinking of the Deepwater Horizon oil rig. Offshore drilling contractor Transocean owned the rig and leased it to BP for exploring the Macondo Prospect, an oil field in the coast of Louisiana. BP failed to halt the flow of oil for many months because of extensive damage to the wellhead and the extent of damage. More than 200 million gallons were the estimated total volume of oil released. The United States obliged the company to pay for cleanup and economic impact expenses.
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Asset Substitution Problem
A problem which arises when a company trades its low-risk assets for high-risk investments. This substitution moves the value from the bondholders ...
Lawful Money
Any currency, in coin or paper form, that is issued by the United States Treasury, not the Federal Reserve System. It also includes gold and silver ...
Red Clause Letter Of Credit
It refers to a specific type of letter of credit where a buyer extends an unsecured loan to a seller. This permits documentary credit beneficiaries ...
Trust Certificate
Bond or debt investment backed by other assets and serve like a collateral. Normally in a public company, the assets may be seized or sold for the ...
Cowboy Marketing
Slang term for a situation in which a firm is unaware a marketer sends massive spam emails to everyone promote the stock, instead of producing legi ...
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Student Loans: Repaying Debts Faster
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16:00 | Consumer Confidence | Apr | |
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08:00 | Public Sector Net Borrowing | Mar |