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Philadelphia refinery fire extinguished; alkylation unit destroyed: sources

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New York — The fire in the alkylation unit at Philadelphia Energy Solutions’ refinery was extinguished Sunday, according to company spokeswoman Cherice Corley. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “We can confirm that the fire in the alkylation unit has been extinguished,” Corley said in an email. Read More

Four states updated their renewable portfolio standards in the first half of 2019

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June 24, 2019 Source: U.S. Energy Information Administration, based on states’ renewable portfolio standards As of the end of 2018, 29 states and the District of Columbia had renewable portfolio standards (RPS), or polices that require electricity suppliers to source a certain portion of their electricity from designated renewable resources or eligible technologies. Four states—New Read More

France prepares to swelter in record high June temperatures

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PARIS (Reuters) – Authorities in Paris are setting up “cool rooms” in municipal buildings, opening pools for late-night swimming and installing extra drinking fountains as France braces for a “potentially dangerous” heatwave that could see record temperatures for June. FILE PHOTO: A tourist cools down in the fountains of the Trocadero near the Eiffel tower, Read More

Hudson’s Bay’s chairman’s buyout bid pits retail versus real estate

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(Reuters) – The success of Hudson’s Bay Co Executive Chairman Richard Baker’s $1.3 billion bid to take the department store operator private hinges on whether an independent valuator will view the company more as a retailer and less as a real estate owner, corporate governance experts and analysts said. FILE PHOTO – U.S. flags fly Read More

Senate Democrats ask for details on antitrust probes into Big Tech

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FILE PHOTO: The logos of Amazon, Apple, Facebook and Google in a combination photo from Reuters files. REUTERS/File Photos WASHINGTON (Reuters) – Seven U.S. Senate Democrats asked the Trump administration on Friday to disclose details of possible Federal Trade Commission and Justice Department antitrust investigations into Amazon.com Inc, Facebook Inc, Alphabet Inc and Apple Inc. Read More

Wall Street Week Ahead: Investors eye G20 with hopes for U.S.-China trade detente

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NEW YORK (Reuters) – All eyes will be on U.S. President Donald Trump and China’s President Xi Jinping next week as investors are desperate for any signs of a thaw in U.S.-China relations even if it shifts expectations for much awaited Federal Reserve interest rate cuts. The S&P 500 closed at a record high on Read More

Citi sees case for Fed to lower rates by 50 bps in July

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FILE PHOTO: A woman walks past a Citibank logo displayed outside the Citibank Plaza in Hong Kong July 28, 2014. REUTERS/Bobby Yip NEW YORK (Reuters) – Citi economists said on Friday if the Federal Reserve decides to lower U.S. interest rates next month, it would do so with a bold 50 basis-points cut, together with Read More

Pemex to produce 2.6 million b/d based on asset-led exploration and EOR: company official

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Highlights Pemex plans steam, water, CO2 and air EOR pilot projects Will continue efforts to evaluate Mexico’s subsalt potential Will restart shale and deepwater appraisal efforts in four years Mexico CIty — Mexico’s Pemex plans to book as reserves more than 20 billion boe via exploration and increased recovery factors, allowing it to achieve its Read More

U.S. judge tosses former SAC Capital trader’s insider trading guilty plea

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NEW YORK (Reuters) – A federal judge in Manhattan on Friday threw out the 2013 insider trading guilty plea of a former trader at SAC Capital Advisors LP, the hedge fund once run by billionaire Steven A. Cohen, saying recent changes in the law meant there were not enough facts to support the plea. FILE Read More

Fed officials face weak inflation, but split over what it means

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WASHINGTON/SAN FRANCISCO (Reuters) – U.S. Federal Reserve officials were divided Friday over how seriously to treat a slide in inflation, with one top policymaker saying the Fed was “close” to its inflation target and three others warning the weak price increases posed major risks the Fed may need to attack with lower interest rates. FILE Read More