Eyes on the skies: Authorities are keeping a close eye on the weather and watching for lightning today as they work to secure 6 million pounds of explosives at a former ammunition plant in northwest Louisiana. State police say crews will suspend efforts to relocate the M6 propellant into bunkers if lightning is spotted within five miles of the site. Discovery of the improperly stored material over the weekend at the Camp Minden industrial site has led to evacuation of the nearby town of Doyline and prompted a criminal investigation of Explo Systems Inc., which has not yet publicly commented on the investigation.
Seeing black: BP made its case for a brighter, albeit smaller, future on Monday, as BP CEO Bob Dudley and other key executives met with investors, explaining the company’s growth strategy and hitting on other topics. The British oil giant has been selling off various assets and focusing on areas where it believes it can get the highest returns. The company plans to increase capital spending to as much as $27 billion by 2014 from $22 billion currently. The Houston Chronicle has the full story here.
In the vault: U.S. banks earned more from July through September than in any other quarter over the past six years. The increase is further evidence that the industry is strengthening four years after the 2008 financial crisis. The Federal Deposit Insurance Corp. reports the banking industry earned $37.6 billion in the third quarter, up 6.6% from $35.3 billion in the third quarter of 2011. About 57% of the banks reported improved earnings. The Associated Press has the full story here.
