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Peabody Energy, largest US coal miner, seeks bankruptcy protection

NEW YORK (AP) — Peabody Energy, the nation’s largest coal miner, has filed for bankruptcy protection as a crosscurrent of environmental, technological and economic changes wreak havoc across the industry. Mines and offices at Peabody, a company founded in 1833 by 24-year-old Francis S. Peabody, will continue to operate as it moves through the bankruptcy process. However, Peabody’s planned sale ...

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Marathon Oil, Corning rise; Juniper Networks and Alcoa dip

NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq stock market: NYSE Alcoa Inc., down 26 cents to $9.48 The aluminum producer’s revenue was weaker than expected and Alcoa said it may cut even more jobs. Juniper Networks Inc., down $1.83 to $23.06 The computer network equipment maker ...

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Asian stocks lifted by optimism on oil prices, Wall Street

TOKYO (AP) — Asian stocks logged solid gains Wednesday, cheered by a rally on Wall Street, although oil prices erased some of the recent big gains that had relieved among global investors. KEEPING SCORE: Japan’s benchmark Nikkei 225 added 2.6 percent to 16,341.01 in morning trading. Hong Kong’s Hang Seng gained 2.3 percent to 20,970.31, while the Shanghai Composite index ...

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Layoffs: Are they really the answer to your financial woes?

job cuts, layoffs, scissors

The energy industry has found itself in a time of financial hardship as oil prices have drastically dropped since the end of 2014. In order to avoid filing bankruptcy, leadership has taken a reactive step to the situation. This style of management speaks to leadership’s strategy, or lack thereof. The oil and gas industry is an industry with a cyclical ...

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Stocks eke out modest gains as focus turns to US earnings

Stocks eke out modest gains as focus turns to US earnings

NEW YORK (AP) — U.S. stocks were steadily higher in early trading Tuesday, as investors worked through the first batch of earnings from the first quarter of the year. KEEPING SCORE: The Dow Jones industrial average rose 42 points, or 0.3 percent, to 17,600 as of 10:09 a.m. Eastern. The Standard & Poor’s 500 index rose two points, or 0.1 ...

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National Oilwell slashes dividend, expects weak revenue

National Oilwell slashes dividend, expects weak revenue

NEW YORK (AP) — National Oilwell Varco Inc. will slash its quarterly dividend and expects a revenue decline as persistently low oil prices cut into sales of drilling equipment and oil-field services. The Houston-based company’s board of directors approved slashing the dividend to 5 cents from 46 cents. The company also expects revenue of about $2.16 billion, marking a 20 ...

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Gas prices jump by 8 cents over past 3 weeks, to $2.10

CAMARILLO, Calif. (AP) — The average price of gasoline has jumped by 8 cents over the past three weeks, to $2.10 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the hike is due to gas stations raising prices nearly twice as much as refiners are raising wholesale gasoline prices. She says prices will likely rise at ...

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Chesapeake Energy maintains $4 billion credit facility

NEW YORK (AP) — Shares of Chesapeake Energy soared Monday, after the natural gas producer said it was able to amend terms with its lenders and maintain a revolving credit facility at $4 billion. A revolving credit facility allows companies to withdraw money from lenders when needed. In a research note Monday, Citi Research analyst Marisa Moss said the amended ...

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Stocks rise ahead of company earnings reports

NEW YORK (AP) — U.S. stocks were slightly higher in afternoon trading Monday as investors wait for first-quarter company earnings to start rolling in. Overseas markets were also rising as investors hoped for more stimulus in China, the world’s second-largest economy. KEEPING SCORE: The Dow Jones industrial average was up 79 points, or 0.5 percent, to 17,654 as of 2:25 ...

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