the eurostoxx 50 also laura. in new york, trading still under way for the dow jones industrial average. it looks like it is paring those losses at 12,411. the euro declining against the dollar, trading for $1.29. investors are losing confidence in hungary. the nation's currency fell to its lowest level ever against the euro. budapest is trying to borrow 20 billion euros for its high sovereign debt. concerns sent the euro to 320 florence on wednesday -- florins on wed.. a new rule requiring chevron to pay $18 billion in damages for pollution in the amazon jungle. chevron failed to make a public apology. the oil giant has slammed the decision saying it is further evidence of corruption in ecuador's court system and it will not comply with the ruling. 2011 was a bad year for natural disasters. it was the costliest year on record for the global insurance industry. the most expensive disaster was the earthquake and tsunami in japan in march that caused losses of 27 billion euros. coming in second, the new zealand eart

the euro stocks eurostoxx finished up. in currency markets, the euro considerably higher today, trading at $1.20. an embargo of iranian oil looks likely to be delayed for six months to allow countries like greece, italy, and spain to organize alternative supplies. france, germany, and the u.k. have been pushing for the embargo. it has the support of all 27 eu member states as well as the united states, and after a visit from u.s. treasury secretary timothy geithner, japan has also pledged to reduce its dependence on iranian oil. but with iran being opec's second-largest producer, it has put pressure on oil prices. if the push for an iranian oil embargo was not enough bad news for oil prices, the barrel price in london shot up more than 2% on news that nigeria's main oil union has threatened to shut down production unless domestic subsidies are reinstated. gasoline prices in nigeria have doubled since january 1. striking action across the country has closed schools, hospitals, and businesses. international food prices remai