• Breaking News

  • Chesapeake Energy hires Anadarko executive as CEO: WSJ
    (Reuters) - Chesapeake Energy Corp has hired Robert Douglas Lawler of rival Anadarko Petroleum Corp as chief executive, filling the post vacated by co-founder Aubrey McClendon, the Wall Street Journal reported, citing people familiar with the matter. Chesapeake and Anadarko could not immediately be reached for comment by Reuters outside of regular U.S. business hours. McClendon's departure on April 1 came after a tumultuous year in which a series of Reuters investigations led to civil and criminal probes of the second-largest U.S. natural gas producer. ...
  • Yahoo's board approves $1.1 billion Tumblr acquisition: WSJ
    SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday. Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," the technology blog AllThingsD cited the sources as saying. ...
  • Insight: The fight for North Dakota's fracking-water market
    By Ernest Scheyder WATFORD CITY, North Dakota (Reuters) - In towns across North Dakota, the wellhead of the North American energy boom, the locals have taken to quoting the adage: "Whiskey is for drinking, and water is for fighting." It's not that they lack water, like Texas and California. They are swimming in it, and it is free for the taking. Yet as the state's Bakken shale fields have grown, so has the fight over who has the right to tap into the multimillion-dollar market to supply water to the energy sector. North Dakota now accounts for over 10 percent of U.S. ...
  • Yen edges up on Amari comments, Asian shares rise
    By Masayuki Kitano SINGAPORE (Reuters) - The yen edged higher on Monday after Japan's economics minister said further weakness in the yen could harm households, while Asian shares rose in response to U.S. equities rallying on upbeat economic data. European shares were seen rising at the open on Monday. Financial spreadbetter IG expected Britain's FTSE 100 to open 0.3 percent higher, Germany's DAX to open 0.7 percent higher, and France's CAC 40 to gain 0.5 percent. The dollar fell to as low as 102.00 yen earlier on Monday, pulling away from Friday's high of 103. ...
  • Analysis: At margins of shale oil boom, a tempered euphoria
    By Kristen Hays and Jonathan Leff HOUSTON/NEW YORK (Reuters) - For the past three years, the boom in the U.S. shale oil industry has outstripped all expectations. Production surged far faster than any forecasts; drillers raced to secure space in new pipelines to get their crude to market. Now, at the periphery, that may be changing - at least for a while. News from two of the country's less developed shale plays in Colorado and Ohio last week offer a reality check for the wave of euphoria that has washed across the industry. ...
  • Insight: The road to a greener America is littered with road-kill
    By Nichola Groom LOS ANGELES (Reuters) - In October 2004, then California Governor Arnold Schwarzenegger rolled up to a pioneering fueling station at Los Angeles International Airport in a hydrogen-powered metallic blue Hummer loaned to him by General Motors Corp. The "California Hydrogen Highway," Schwarzenegger's vision to ensure that every Californian would have access to a hydrogen fueling station by the end of 2010, called for the state to spend more than $50 million to help deploy up to 100 hydrogen fuel stations that would serve 2,000 fuel cell vehicles. ...
  • Analysis: Shrinking deficit reduces pressure for budget deal
    By Jason Lange and David Lawder WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the tax system, trim government spending and reform safety net spending programs appear to be fading. A sudden improvement in the outlook for the government deficit over the next decade has alleviated some of the pressure on lawmakers to act. And a spate of scandals, involving the Internal Revenue Service, security for the U.S. ...
  • NY regulator questions investment firms' ties to insurers: WSJ
    (Reuters) - New York's top financial regulator has sent subpoenas to several firms seeking information on investments that guarantee steady payments to hundreds of thousands of retirees and other consumers, the Wall Street Journal said on Monday, citing people familiar with the inquiry. The New York Department of Financial Services has sought information from Apollo Global Management, Guggenheim Partners and Harbinger Group Inc on investments that back so-called fixed annuities, the Journal said. ...
  • Elan strikes more deals, agrees second share buyback
    By Padraic Halpin DUBLIN (Reuters) - Irish drug firm Elan agreed on Monday to buy two private drug firms, spin-off its one experimental drug and buy back more shares to give a firmer idea of how the company will be reconfigured as shareholders weigh up a takeover bid. The Irish company has rejected a $5.7 billion bid from U.S. investment firm Royalty Pharma and is trying to convince shareholders to do the same by returning cash and going on a spending spree that began with a $1 billion royalties deal just a week ago. ...
  • SAC Capital's Cohen gets subpoena to testify: NY Times
    (Reuters) - Steven A. Cohen has received a subpoena to testify before a grand jury in a U.S. government insider trading investigation into his hedge fund SAC Capital Advisors, the New York Times reported, citing lawyers and executives briefed on the case. Other SAC executives also received similar subpoenas and the fund itself has received requests for information about its activities, the lawyers and executives told the New York Times. Jonathan Gasthalter, a spokesman for SAC, declined to comment to the New York Times about the subpoenas. ...

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• Breaking News

  • Chesapeake Energy hires Anadarko executive as CEO: WSJ
    (Reuters) - Chesapeake Energy Corp has hired Robert Douglas Lawler of rival Anadarko Petroleum Corp as chief executive, filling the post vacated by co-founder Aubrey McClendon, the Wall Street Journal reported, citing people familiar with the matter. Chesapeake and Anadarko could not immediately be reached for comment by Reuters outside of regular U.S. business hours. McClendon's departure on April 1 came after a tumultuous year in which a series of Reuters investigations led to civil and criminal probes of the second-largest U.S. natural gas producer. ...
  • Yahoo's board approves $1.1 billion Tumblr acquisition: WSJ
    SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday. Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," the technology blog AllThingsD cited the sources as saying. ...
  • Insight: The fight for North Dakota's fracking-water market
    By Ernest Scheyder WATFORD CITY, North Dakota (Reuters) - In towns across North Dakota, the wellhead of the North American energy boom, the locals have taken to quoting the adage: "Whiskey is for drinking, and water is for fighting." It's not that they lack water, like Texas and California. They are swimming in it, and it is free for the taking. Yet as the state's Bakken shale fields have grown, so has the fight over who has the right to tap into the multimillion-dollar market to supply water to the energy sector. North Dakota now accounts for over 10 percent of U.S. ...
  • Yen edges up on Amari comments, Asian shares rise
    By Masayuki Kitano SINGAPORE (Reuters) - The yen edged higher on Monday after Japan's economics minister said further weakness in the yen could harm households, while Asian shares rose in response to U.S. equities rallying on upbeat economic data. European shares were seen rising at the open on Monday. Financial spreadbetter IG expected Britain's FTSE 100 to open 0.3 percent higher, Germany's DAX to open 0.7 percent higher, and France's CAC 40 to gain 0.5 percent. The dollar fell to as low as 102.00 yen earlier on Monday, pulling away from Friday's high of 103. ...
  • Analysis: At margins of shale oil boom, a tempered euphoria
    By Kristen Hays and Jonathan Leff HOUSTON/NEW YORK (Reuters) - For the past three years, the boom in the U.S. shale oil industry has outstripped all expectations. Production surged far faster than any forecasts; drillers raced to secure space in new pipelines to get their crude to market. Now, at the periphery, that may be changing - at least for a while. News from two of the country's less developed shale plays in Colorado and Ohio last week offer a reality check for the wave of euphoria that has washed across the industry. ...
  • Insight: The road to a greener America is littered with road-kill
    By Nichola Groom LOS ANGELES (Reuters) - In October 2004, then California Governor Arnold Schwarzenegger rolled up to a pioneering fueling station at Los Angeles International Airport in a hydrogen-powered metallic blue Hummer loaned to him by General Motors Corp. The "California Hydrogen Highway," Schwarzenegger's vision to ensure that every Californian would have access to a hydrogen fueling station by the end of 2010, called for the state to spend more than $50 million to help deploy up to 100 hydrogen fuel stations that would serve 2,000 fuel cell vehicles. ...
  • Analysis: Shrinking deficit reduces pressure for budget deal
    By Jason Lange and David Lawder WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the tax system, trim government spending and reform safety net spending programs appear to be fading. A sudden improvement in the outlook for the government deficit over the next decade has alleviated some of the pressure on lawmakers to act. And a spate of scandals, involving the Internal Revenue Service, security for the U.S. ...
  • NY regulator questions investment firms' ties to insurers: WSJ
    (Reuters) - New York's top financial regulator has sent subpoenas to several firms seeking information on investments that guarantee steady payments to hundreds of thousands of retirees and other consumers, the Wall Street Journal said on Monday, citing people familiar with the inquiry. The New York Department of Financial Services has sought information from Apollo Global Management, Guggenheim Partners and Harbinger Group Inc on investments that back so-called fixed annuities, the Journal said. ...
  • Elan strikes more deals, agrees second share buyback
    By Padraic Halpin DUBLIN (Reuters) - Irish drug firm Elan agreed on Monday to buy two private drug firms, spin-off its one experimental drug and buy back more shares to give a firmer idea of how the company will be reconfigured as shareholders weigh up a takeover bid. The Irish company has rejected a $5.7 billion bid from U.S. investment firm Royalty Pharma and is trying to convince shareholders to do the same by returning cash and going on a spending spree that began with a $1 billion royalties deal just a week ago. ...
  • SAC Capital's Cohen gets subpoena to testify: NY Times
    (Reuters) - Steven A. Cohen has received a subpoena to testify before a grand jury in a U.S. government insider trading investigation into his hedge fund SAC Capital Advisors, the New York Times reported, citing lawyers and executives briefed on the case. Other SAC executives also received similar subpoenas and the fund itself has received requests for information about its activities, the lawyers and executives told the New York Times. Jonathan Gasthalter, a spokesman for SAC, declined to comment to the New York Times about the subpoenas. ...

Archive for August 27th, 2012

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