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Buffett’s company keeps adding to its Phillips 66 investment

Warren Buffett, Phillips 66

OMAHA, Neb. (AP) — Warren Buffett’s company now owns nearly 15 percent of Phillips 66 after buying 642,841 shares of the oil refiner over the past week. Berkshire Hathaway Inc. disclosed the recent purchases in documents filed with the Securities and Exchange Commission on Monday. Berkshire now owns nearly 76.4 million Phillips 66 shares. Berkshire revealed owning over 10 percent ...

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US stocks jump as rising interest rates help banks higher


NEW YORK (AP) — U.S. stocks are jumping Tuesday morning as rising interest rates give bank stocks a lift. Investors are also buying big-name technology companies. European indexes also climbed. KEEPING SCORE: The Dow Jones industrial average rose 187 points, or 1.1 percent, to 17,679 as of 10:05 a.m. Eastern time. The Standard & Poor’s 500 index picked up 21 ...

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Stocks little changed, but crude sheds 39 cents


NEW YORK (AP) — Stocks were little changed in early trading Monday, as investors sat on the sidelines waiting to see where the Federal Reserve might move interest rates next month. Energy stocks fell along with the price of crude oil. KEEPING SCORE: The Dow Jones industrial average rose 13 points, or 0.1 percent, to 17,514 as of 10:09 a.m. ...

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Stocks move higher, led by technology and banks

NEW YORK (AP) — Stocks are climbing in morning trading Friday as investors respond to encouraging corporate news and dealmaking. The gains were broad. Eight of the 10 sectors of the Standard and Poor’s 500 index rose, led by banks and technology companies. KEEPING SCORE: The Dow Jones industrial average rose 112 points, or 0.6 percent, to 17,547 at 11:11 ...

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Former Brazil energy minister new CEO at troubled Petrobras

Petrobras, energy minister

RIO DE JANEIRO (AP) — Former Brazilian energy minister Pedro Parente has been named by acting President Michel Temer as the new CEO of state-run oil giant Petrobras. Parente was picked Thursday to replace Aldemir Bendine, an appointee of now suspended President Dilma Rousseff. The new Petrobras CEO was working as chairman of Sao Paulo-based financial bourse BM&FBovespa. Parente served ...

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Company charged for oil spill that fouled California beaches

LOS ANGELES (AP) — A Texas pipeline company that spilled more than 140,000 gallons of crude oil on the California coast last year was indicted on dozens of criminal charges in the disaster that closed popular beaches and killed sea lions and birds, prosecutors said Tuesday. Plains All American Pipeline and one of its employees face 46 counts of state ...

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Xcel says it is working on plan to curb Fargo power outages

Fargo, Xcel

BISMARCK, N.D. (AP) — Xcel Energy has replaced more than a mile of old underground cable in Fargo as part of an effort to help curb a spate of power outages that have bedeviled the state’s biggest city in recent weeks, the utility told North Dakota regulators Wednesday. Several officials from the Minneapolis-based utility met with North Dakota’s Public Service ...

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Oil and gas company founded by Aubrey McClendon to close

Aubrey McClendon

OKLAHOMA CITY (AP) — American Energy Partners, the Oklahoma City-based oil and natural gas company founded by the late energy tycoon Aubrey McClendon, is shutting down. The company’s leadership team released a statement Wednesday saying it had decided to wind down operations but the five independent companies it had launched wouldn’t be affected. McClendon co-founded Chesapeake Energy and served as ...

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After one merger called off in energy sector, another arises

energy sector, merger

NEW YORK (AP) — FMC Technologies will attempt a merger with Technip in an all-stock deal worth about $13 billion to create a larger player in the energy sector. The shareholders of each company would own about 50 percent of the combined company, which would be named TechnipFMC. It would have more than 49,000 employees operating in 45 countries. FMC ...

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Standoff, dying economy drive Venezuelan crisis


Venezuela is being wracked by an increasingly belligerent standoff between the government and opposition, while many Venezuelans are becoming fed up with a floundering economy marked by long lines for food and the world’s highest inflation. President Nicolas Maduro has declared a state of emergency to let him deal with the economy by decree, but the opposition is vowing to ...

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