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Court leaves PG&E with sole right to submit bankruptcy plan

9 hours ago DieselGasoil Comments Off on Court leaves PG&E with sole right to submit bankruptcy plan
FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage (Reuters) – A federal judge on Friday allowed PG&E Corp to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing Read More

Take Five: Fed in a hole

10 hours ago DieselGasoil Comments Off on Take Five: Fed in a hole
(Reuters) – FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis 1/FED IN A HOLE On Wednesday, the U.S. Federal Reserve releases the minutes of its last meeting, revealing what policymakers said about the flattening Treasury yield curve and the strength of support for July’s Read More

Lower rates could boost housing stocks, but risks remain

10 hours ago DieselGasoil Comments Off on Lower rates could boost housing stocks, but risks remain
NEW YORK (Reuters) – Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook. After underperforming in 2018, the PHLX Housing Index .HGX is up about 30% Read More

Husky to Resume Full Production at White Rose

13 hours ago DieselGasoil Comments Off on Husky to Resume Full Production at White Rose
CALGARY, Alberta, Aug. 16, 2019 (GLOBE NEWSWIRE) — Following an extensive investigation, flow line repairs, integrity testing and approval of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), Husky Energy (TSX:HSE) today announced it will resume production from the remaining two drill centres shut in following the November 2018 oil spill offshore Newfoundland and Labrador. Read More

Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain

16 hours ago DieselGasoil Comments Off on Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain
NEW YORK (Reuters) – Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook. FILE PHOTO: Traders work on the floor at the New York Stock Exchange Read More

Canadian petroleum agency approves Hibernia platform restart following spill

22 hours ago DieselGasoil Comments Off on Canadian petroleum agency approves Hibernia platform restart following spill
8/16/2019 ST. JOHN’S, NEWFOUNDLAND – The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) issued approval to Hibernia Management and Development Company Ltd. (HMDC) to resume production operations at the Hibernia platform. Hibernia platform Since the spill occurred in mid-July, C-NLOPB staff have had extensive engagement with HMDC to discuss the cause of the spill, along Read More

Invesco thrives in China as former executive Ross leads Trump’s trade war

24 hours ago DieselGasoil Comments Off on Invesco thrives in China as former executive Ross leads Trump’s trade war
BOSTON (Reuters) – The former investment company of U.S. Commerce Secretary Wilbur Ross has been flourishing in China, even as he marshals billions of dollars’ worth of punishing tariffs in America’s deepening trade war. FILE PHOTO: U.S. Commerce Secretary Wilbur Ross speaks during a 17th Latin American Leadership Forum in Brasilia, Brazil August 1, 2019. Read More

Weight of history: Chongqing Steel and China’s state sector dilemma

1 day ago DieselGasoil Comments Off on Weight of history: Chongqing Steel and China’s state sector dilemma
CHONGQING, China (Reuters) – A year and a half ago, Chongqing Iron and Steel Corp (CISC) (601005.SS)(1053.HK), China’s oldest steelmaker, was rescued from the brink of bankruptcy in a deal hailed as a shining example of how struggling state companies can be revamped. A worker walks past steel rolls at the Chongqing Iron and Steel Read More

Exclusive: Buyout firms KKR, Blackstone among bidders for Philippine hospitals group – sources

1 day ago DieselGasoil Comments Off on Exclusive: Buyout firms KKR, Blackstone among bidders for Philippine hospitals group – sources
SINGAPORE (Reuters) – Buyout firms KKR (KKR.N), Blackstone (BX.N) and CVC are among bidders competing for a stake in the hospital unit of Philippines’ Metro Pacific Investments Corp (MPI.PS), people with knowledge of the matter told Reuters. FILE PHOTO – Trading information for KKR & Co is displayed on a screen on the floor of Read More

Ackman eyes more gains for his fund with help of Berkshire, others

1 day ago DieselGasoil Comments Off on Ackman eyes more gains for his fund with help of Berkshire, others
BOSTON (Reuters) – Billionaire investor William Ackman, whose portfolio has gained almost 50% this year, said his fund can keep delivering “high, long-term” returns, and he expects that a newly disclosed stake in Berkshire Hathaway Inc (BRKa.N) will help boost gains. FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, Read More