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  • SAN JUAN, Jan 27- U.S. Senate Democrats, in a letter to Majority Leader Mitch McConnell, on Wednesday called for congressional action on Puerto Rico, demanding that legislation to resolve the island's financial crisis include tools to restructure debt. Republican Senators Orrin Hatch of Utah, Lisa Murkowski of Alaska and Chuck Grassley of Iowa last month...

  • Markey wants future opioid-approval matters to be reviewed by an FDA advisory committee, and believes the committee should consider the risk of addiction and abuse during the approval process. "Last year, the FDA approved a new pediatric use for OxyContin without convening an advisory committee even though its guidelines note that FDA decisions that relate...

  • Here's who gets hurt by oil price plunge Monday, 25 Jan 2016 | 2:11 PM ET
    The price of oil is shown downtown on Jan. 21, 2016, in the oil town of Midland, Texas.

    Lower crude prices are helping lift much of the U.S. economy, but oil-producing regions are getting clobbered.

  • Markey wants future opioid-approval matters to be reviewed by an FDA advisory committee, and believes the committee should consider the risk of addiction and abuse during the approval process. "Last year, the FDA approved a new pediatric use for OxyContin without convening an advisory committee even though its guidelines note that FDA decisions that relate...

  • WASHINGTON, Jan 21- The number of Americans filing for unemployment benefits rose to a six-month high last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and major stock market selloff. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 293,000 for the week ended Jan. 16, the...

  • Jan 14- China's state-run oil refiner Sinopec Corp has purchased its first ever batch of U.S. crude oil for export, a source told Reuters on Thursday, a landmark transaction after the ending of a four-decade ban on domestic exports. The cargo, due to be loaded from a Gulf Coast port in March, may mark the start of a sustained flow of U.S. oil to China, the world's...

  • NEW YORK, Jan 13- Wall Street investors are deciding it's time to just say yes to marijuana as legalization of cannabis in more U.S. states has them smelling money-making opportunities. Hundreds of East Coast investors, dressed in business suits and ties, gathered in New York on Wednesday to learn more about the cannabis industry, a business rooted in tie-dye...

  • WASHINGTON, Jan 13- The U.S. Coast Guard on Wednesday released a proposed acquisition timeline and requirements for two new heavy U.S. icebreakers that could cost $1 billion each and said it would meet with interested companies during an industry day in March. The Coast Guard document was posted on a federal website but details were released only to potential...

  • WASHINGTON, Jan 13- The U.S. Coast Guard will release a proposed acquisition timeline and requirements for two new U.S. icebreakers later on Wednesday, Admiral Paul Zukunft, commandant of the U.S. Coast Guard, said. President Barack Obama in September called for the United States to accelerate plans to buy at least one new heavy icebreaker for the U.S.

  • NEW YORK, Jan 12- U.S. oil stumbled below $30 for the first time in 12 years to levels that threaten the survival of many U.S. shale firms, spur more belt-tightening by oil majors and spell more pain for crude-producing nations and regions. Some analysts warned of $20 a barrel; Standard Chartered said fund selling may not relent until it reaches $10.

  • SAN FRANCISCO, Jan 5- Alaska Governor Bill Walker said on Tuesday the lowering of the state's credit ratings by Standard and Poor's was "premature" since the legislature has not yet had time to act on his ambitious plan to address the state's large budget deficit. More than any other U.S. state, Alaska has been hit by the downturn in oil prices that began in mid-2014.

  • Either oil hits $110, or Alaska gets a tax hike Wednesday, 30 Dec 2015 | 6:32 PM ET
    Bill Walker Governor of Alaska

    The move has been politically unpopular, with critics questioning whether it hurts Alaska's competitiveness for business.

  • WATERLOO, Iowa, Dec 23- Matt Happel and Pam Egli are first cousins, part of a sprawling family so big it rents a church hall for Christmas parties. Happel, now a 40- year-old divorced father of three, was laid off in April from Deere& Co.' s transmission factory in Waterloo, where he earned $21 an hour on the assembly line. The Iowa cousins' Wall Street connection is a single,...

  • NEW YORK, Dec 21- Lower tax revenues because of job losses in energy and related sectors due to the collapse in oil prices will hit the budgets of oil-producing states through the remainder of this fiscal year and next, Moody's Investors Service said on Monday. Moody's analysts expect to see a similar dynamic to Oklahoma in Alaska, Louisiana, New Mexico, North...

  • WASHINGTON, Dec 18- The U.S. Congress voted on Friday to repeal the 40- year-old ban on exporting U.S. crude oil in an energy policy shift sought by Republicans as part of a bipartisan deal that also provided unprecedented tax incentives for wind and solar power. The Senate, on a 65-33 vote, passed a $1.1 trillion government spending bill that included the measure to...

  • But more than a third of a century later, crude still sells for less than bottled water, currently on sale at the equivalent of more than $100 per barrel at supermarkets in the United States and Britain. In the late 1970 s, OPEC's Long-Term Price Policy Committee adopted a different approach, recommending that the price of oil should be increased gradually until it...

  • Dec 10- ConocoPhillips, the largest U.S. independent oil company, plans to reduce capital spending by 25 percent next year and sell more non-core assets as it looks to shore up its finances amid a prolonged slump in oil prices. ConocoPhillips expects to spend a bulk of next year's budget on U.S. shale fields in Texas and North Dakota, and on drilling operations in...

  • UPDATE 1-Shell says reviewing New Zealand assets Wednesday, 9 Dec 2015 | 6:39 PM ET

    WELLINGTON, Dec 10- Energy giant Royal Dutch Shell said on Thursday it was reviewing its business interests in New Zealand as the company seeks to streamline its global portfolio amid a slump in energy prices. "The Shell business in New Zealand is a great, but a small part of the global Shell business and hence the decision to undertake a strategic review at this...

  • Senate Republicans introduce Puerto Rico bill Wednesday, 9 Dec 2015 | 5:26 PM ET

    NEW YORK, Dec 9- Three Republican Senators on Wednesday introduced a bill to address Puerto Rico's debt crisis, proposing tax relief for workers and financial oversight to help the island gain financial and economic stability, according to a statement from Utah Republican Orrin Hatch's office. Hatch, who chairs the Senate Finance Committee, introduced the...

  • Alaska Gov. proposes first income tax in 35 years Wednesday, 9 Dec 2015 | 3:18 PM ET
    Alaska Gov. proposes first income tax in 35 years

    Oil revenues in Alaska have been greatly reduced, and the governor is proposing its first income tax in 35 years, reports CNBC's Kate Kelly.