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Moody’s downgrades Saudi Arabia on lower oil prices

Saudi Arabia, oil prices

NEW YORK (AP) — Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices. Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world’s largest oil exporter. Moody’s cut ...

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US producer prices rise in April for first time in 3 months

producers, gas, manufacturers

WASHINGTON (AP) — Prices charged by U.S. manufacturers, farmers and other producers rose for the first time since January, lifted by higher costs for gas, steel and medicines. The Labor Department said Friday that the producer price index, which measures price changes before they reach the consumer, increased 0.2 percent in April. That followed small declines in February and March. ...

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US stocks fall as retail suffering continues; oil slips

NEW YORK (AP) — U.S. stocks are skidding Friday afternoon as retailers continue to report plunging first-quarter sales. Energy companies are falling as the price of oil slips following a string of recent gains. Stocks are on track for their third straight week of losses. KEEPING SCORE: The Dow Jones industrial average gave up 114 points, or 0.6 percent, to ...

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Cheniere Energy names Jack Fusco as CEO

Cheniere Energy, CEO, Jack Fusco

NEW YORK (AP) — Cheniere Energy has named Jack Fusco as CEO after the natural gas company’s previous CEO was forced out under pressure from activist investor Carl Icahn. Fusco was most recently executive chairman of Calpine Corp., which generates electricity from natural gas. He was CEO of the Houston company from 2008 to 2014. Cheniere’s CEO and co-founder Charif ...

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US stocks slip after unemployment claims rise; tech slumps

stocks

NEW YORK (AP) — U.S. stocks are slipping Thursday morning after a surprising jump in the number of Americans who are out of work. Retailers got more bad news as department store Kohl’s reported disappointing first-quarter results. Companies including agribusiness giant Monsanto are climbing on reports of possible buyouts. KEEPING SCORE: The Dow Jones industrial average lost 47 points, or ...

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Ex-coal CEO Don Blankenship asks for delay in start of prison

Don Blankenship, Massey Energy, Prison

CHARLESTON, W.Va. (AP) — Attorneys for former coal executive Don Blankenship want to delay his entry into prison this week. In an emergency motion in the 4th U.S. Circuit Court of Appeals on Tuesday, Blankenship’s attorneys wrote that he’s slated to head to prison Thursday in California. But the court has not ruled on whether the former Massey Energy CEO ...

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Oil falls after matching highest closing price of 2016

oil, stock market

NEW YORK (AP) — U.S. stock indexes are falling Wednesday morning, a day after their biggest gain in two months. Office supply companies Office Depot and Staples are tumbling after a judge blocked their plans to merge. Consumer stocks are plunging after Macy’s slashed its profit forecast and reported a steep drop in earnings. KEEPING SCORE: The Dow Jones industrial ...

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Never mind the buzzwords

northern lights

Branding for energy companies is more essential today than ever before. Customer engagement, disruption, internet of all things, innovation and advertising. These buzzwords mean nothing for energy if they are not delivered by a well-founded branding activities. A brand is more than a logo in the letterhead. A brand is the way the consumers define a company based on their perception. ...

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General Electric closing Pennsylvania plant with 380 workers

BLAWNOX, Pa. (AP) — General Electric is closing a Pittsburgh-area plant that makes solar power equipment and says 250 of 380 workers there will lose their jobs. GE plans to close the plant in Blawnox by year’s end, the Pittsburgh Post-Gazette first reported Tuesday. Severance packages and other benefits, including help finding new jobs, will be spelled out in the ...

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