Posted AT 7:08 AM EDT on 03/07/08
Oil markets are falling prey to the blame game
LONDON — The punishing price of a gallon of gasoline is reaching every corner of the economy and we need someone to blame. Marks & Spencer, Britain's premier retailer, issued a profit warning yesterday that sales over the last three months had fallen more than 5 per cent. Its stock price plunged 20 per cent, removing £3-billion from the company's value.
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