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US stocks edge mostly higher as oil prices bounce back

U.S. stock indexes edged mostly higher in early trading Friday as rising oil prices pushed energy companies higher. Technology companies were the biggest laggards as Microsoft and Google parent Alphabet declined on disappointing earnings. Investors pored through the latest batch of earnings from big companies, including McDonald’s, American Airlines Group and General Electric. KEEPING SCORE: The Dow Jones industrial average ...

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Schlumberger cuts more jobs in first quarter

Schlumberger cuts more jobs in first quarter

Schlumberger slashed another 2,000 jobs in the first quarter as the energy industry navigates turbulent market conditions. The company’s global workforce now numbers about 93,000, according to Schlumberger spokesman Joao Felix. “The decline in global activity and the rate of activity disruption reached unprecedented levels as the industry displayed clear signs of operating in a full-scale cash crisis,” Chairman and ...

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Netflix to film Petrobras corruption scandal series

SAO PAULO (AP) — Internet video service Netflix says it will start filming a new series based on the ongoing corruption investigation involving Brazil’s state-owned oil company Petrobras. A Netflix statement posted on its website says filming of the series will start this year, and the first episode is scheduled to be aired in 2017. The yet-to-be-named series will be ...

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One-time star in solar energy, SunEdison seeks protection

NEW YORK (AP) — SunEdison, a one-time star in the alternative energy field, filed for bankruptcy protection Thursday after years of rapid-fire acquisitions left the solar company in a desperate cash situation. Just last week an audit committee reviewing operations at company, based in Maryland Heights, Missouri, just outside of St. Louis, found an “overly optimistic culture and its tone ...

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US stock indexes edge lower in early trading; oil slides

US stock indexes edge lower in early trading; oil slides

U.S. stock indexes edged lower in early trading Thursday as investors pored over the latest crop of company earnings news. Telecom services and consumer staples companies were down the most. Oil prices were also headed lower. The stock market is coming off a three-day winning streak. KEEPING SCORE: The Dow Jones industrial average fell 39 points, or 0.2 percent, to ...

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Montana oil and gas lease cancellation challenged in US court

montana oil gas lease

BILLINGS, Mont. (AP) — A Louisiana company challenged the cancellation of an oil and gas lease in northwest Montana on Friday, after federal officials said drilling would disturb an area sacred to the Blackfoot tribes of the U.S. and Canada. The 6,200-acre lease owned by Solenex LLC of Baton Rouge is in the Badger-Two Medicine area of the Lewis and ...

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Economic pain predicted in Oklahoma amid slumping oil prices

OKLAHOMA CITY (AP) — Slumping energy prices and dwindling tax collections already have punched a $1.3 billion hole in Oklahoma’s budget for next year, but there may be more economic “pain on the horizon,” one of the nation’s top ratings agency said Tuesday. Moody’s Investors Service released detailed reports on California, North Dakota and Oklahoma as part of its research ...

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US stocks waver early as investors eye company earnings

U.S. stock indexes wavered between small gains and losses in early trading Wednesday as investors sized up the latest company earnings and deal news. Consumer staples companies were down the most, while health care and financial companies moved higher. KEEPING SCORE: The Dow Jones industrial average rose six points to 18,060 as of 10:07 a.m. Eastern time. The Standard & ...

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Louisiana and Mississippi driller Goodrich files bankruptcy

goodrich files bankruptcy

JACKSON, Miss. (AP) — One of the oil companies most active in drilling wells in the Tuscaloosa Marine Shale formation in Mississippi and Louisiana has sought bankruptcy protection. Houston-based Goodrich Petroleum filed for Chapter 11 bankruptcy Friday after securities owners rejected swapping their holdings for common stock to lower debt payments. The company cites $99 million in assets against $507 ...

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