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Top News & Analysis Delaware

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  • Aug 27- The billionaire chief executive of Dole Food Co and his top lieutenant must pay $148.2 million of damages to shareholders they shortchanged when the produce company went private in 2013, a Delaware judge ruled on Thursday. In a decision that may cast a pall on management-led buyouts, Vice Chancellor Travis Laster said Dole Chief Executive David...

  • DOVER, Del.— A Delaware judge on Thursday ordered 92- year-old Dole Food CEO David Murdock and a former top lieutenant to pay $148 million in damages for misleading directors and shareholders in a deal that took the company private in 2013.. The judge on Thursday said the billionaire businessman, along with former Dole president and chief operating officer C....

  • Aug 27- A Delaware judge on Thursday said David Murdock, the billionaire chief executive of Dole Food Co, is liable to shareholders for $148.2 million of damages for having shortchanged them when he took the fruit and vegetable producer private in 2013.. In his 106- page decision, Laster also held Dole's recently retired chief operating officer, C. Michael Carter,...

  • Aug 27- A Delaware judge on Thursday said David Murdock, the chief executive of Dole Food Co, is liable for $148.2 million of damages for having shortchanged shareholders when he took the fruit producer private in 2013.. Delaware Chancery Judge Travis Laster said Murdock, 92, took several actions to reduce Dole's market value, and thus the price he would pay, and...

  • In the latest case of gift card holders caught up in the bankruptcy of a major retailer, attorneys on Wednesday outlined a plan under which some holders of RadioShack gift cards would be paid in full for their outstanding balances. The plan is part of a tentative settlement between Fort Worth- based RadioShack and the Texas attorney general's office, which filed...

  • DC regulators reject proposed merger of Exelon, Pepco Tuesday, 25 Aug 2015 | 12:34 PM ET

    WASHINGTON— Regulators in the District of Columbia rejected the proposed merger of power companies Exelon and Pepco on Tuesday, saying the deal would not benefit ratepayers. Chicago- based Exelon announced in April of 2014 that it was buying Washington, D.C.- based Pepco Holdings Inc. for $6.8 billion. "We found no benefit to District ratepayers in a new...

  • NEW YORK, Aug 24- A key gasoline-making unit at PBF Energy Inc's 182,200- barrel-per-day Delaware City, Delaware, refinery is expected to be shut for at least a month- and possibly much longer- following an explosion and fire on Friday, a source familiar with plant operations said on Sunday. The primary wet gas compressor associated with the FCC at Delaware City and...

  • WASHINGTON— Vice President Joe Biden has chosen a top film industry official and former spokeswoman for John Edwards' 2008 presidential campaign to be his new communications director, the White House said Monday. But White House officials are subject to strict limitations on engaging in political activity, and Bedingfield's duties are expected to focus on...

  • President Barack Obama signed a federal declaration of emergency for Washington state on Friday, authorizing the U.S. Department of Homeland Security and the Federal Emergency Management Agency to coordinate relief efforts in 11 counties and several Indian reservations hard hit by wildfires. The Okanogan Complex includes the so-called Twisp River fire,...

  • *China's weak factory activity triggers stock selloff. NEW YORK, Aug 21- U.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis on Friday, ending 2 percent lower on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three decades. "Everyone is still looking at it saying'...

  • RBOB FUTURES TURN HIGHER IN PRE-SETTLEMENT TRADING AFTER FIRE AT DELAWARE CITY, DELAWARE REFINERY.

  • RBOB GASOLINE FUTURES PARE LOSSES ON PBF ENERGY DELAWARE CITY, DELAWARE REFINERY FIRE.

  • NEW YORK, Aug 20- InterDigital Inc has violated U.S. antitrust law by failing to keep its promise to fairly license its technology considered essential to mobile phone communications, Microsoft Corp said in a lawsuit on Thursday. It comes as the U.S. International Trade Commission is set to rule this month on whether Microsoft smartphones should be banned from...

  • The complaint against InterDigital, filed in federal court in Wilmington, Delaware, comes as the U.S. International Trade Commission is set to rule this month on whether Microsoft smartphones should be banned from import into the United States for infringing two of InterDigital's patents.

  • NEW YORK, Aug 20- Billionaire investor Ira Rennert failed to persuade a federal judge to throw out a jury verdict finding him liable for looting his now-defunct magnesium company to build one of the country's most expensive homes, on the east end of Long Island, New York. District Judge Alison Nathan in Manhattan on Thursday upheld all but $1 million of a $214...

  • WILMINGTON, Del.— Former Wilmington Trust president Robert Harra Jr. was ordered released on bail Thursday after pleading not guilty to fraud and conspiracy charges stemming from an ongoing federal investigation into the collapse of the century-old financial institution. But defense attorney Michael Kelly told Burke that Harra "vehemently maintains his...

  • WASHINGTON, Aug 20- U.S. home resales rose to a near 8-1/ 2- year high in July and factory activity in the mid-Atlantic region picked up this month, fresh signs of steady economic growth that likely keeps the Federal Reserve on track to raise interest rates this year. "We continue to expect both economic growth and labor market activity to continue shifting higher,...

  • DuPont spinoff Chemours closing Delaware chemical plant Thursday, 20 Aug 2015 | 11:29 AM ET

    DOVER, Del.— The Chemours Co. is closing its Delaware titanium dioxide production facility, which employs about 200 workers, the former performance chemicals business spun off from the DuPont Co. said Thursday. In addition to closing the Edge Moor manufacturing site near Wilmington, Chemours is shutting down a titanium dioxide production line in New...

  • Philly Fed factory activity picks up in August Thursday, 20 Aug 2015 | 10:14 AM ET

    NEW YORK, Aug 20- Factory activity in the U.S. mid-Atlantic region expanded in August at a faster pace than expected, a survey showed on Thursday. The survey covers factories in eastern Pennsylvania, southern New Jersey and Delaware. It is seen as one of the first monthly indicators of the health of U.S. manufacturing, leading up to the national report by the...

  • NEW YORK, Aug 19- Brooklyn Brewery, the craft beer maker operating from New York City's most populous borough, resisted taking money from investment firms for almost three decades, according to co-founder and Chairman Steve Hindy. The $19.6 billion U.S. craft beer market grew by about 18 percent in barrel volume in 2014, according to the Brewers Association.