Take stock – October 12

Red Deer’s roster of liquor stores should soon increase by one.

Red Angel liquor scheduled to open later this month

Red Deer’s roster of liquor stores should soon increase by one.

Red Angel Liquor is scheduled to open on Oct. 20 at 7464 50th Ave. Owned by Parminder Dhadda and Sukhwinder Dhillon, the store will carry a variety of liquor products, including chilled items in a cooler.

Dhadda said the north Red Deer location should be a good one, with two motels currently operating nearby. Red Angel Liquor’s hours will be 11 a.m. to midnight, Sunday to Wednesday; and 11 a.m. to 2 a.m., Thursday to Sunday.


Oil prices rise in Asia

SINGAPORE — Oil prices rose to near US$83 a barrel Monday in Asia as investors bet the U.S. central bank will soon take action to bolster a weak economic recovery.

Benchmark oil for November delivery was up 27 cents to $82.93 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 99 cents to settle at $82.66 on Friday.

Investors are anticipating that September’s weak employment report will push the Federal Reserve at a meeting next month to buy Treasury bonds and take other measures known as quantitative easing to lower long-term interest rates and spur lending. Private employers added 64,000 workers last month, short of the 75,000 economists expected, the government said Friday. Overall, 95,000 jobs were slashed as governments laid off temporary workers, and the unemployment rate held steady at 9.6 per cent.

“Once investors started seeing the jobs data in terms of quantitative easing rather than as a sign that the economy has really run out of all its forward thrust, oil prices advanced,” Cameron Hanover said in a report. “The economy is so anemic, investors are taking heart that the Fed will help.”

— The Associated Press

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