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  • MUNICH, Jan 27- Siemens Chief Executive Joe Kaeser faced tough questions on Tuesday about his stewardship of Europe's biggest engineering group, 18 months after overthrowing his predecessor in a messy boardroom coup. Siemens shares fell more than 3 percent and Kaeser, 57, faced criticism at the company's annual meeting in Munich. "Even if you are the right man at...

  • SINGAPORE, Jan 27- U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading companies to sell the light crude, trade sources said. Oil producers have been pressing to lift a 40- year-old U.S. ban on crude exports and the Department of Commerce...

  • In September, the National Aeronautics and Space Administration awarded contracts worth up to a combined $6.8 billion to Boeing and privately owned Space Exploration Technologies, or SpaceX, to fly crew to the station, a $100 billion research laboratory about 260 miles above Earth. NASA expects to pay an average of $58 million a seat when its astronauts begin...

  • CAPE CANAVERAL, Florida— NASA expects to save millions of dollars sending astronauts to the International Space Station, once its commercial crew program starts flying in a couple of years. SpaceX and Boeing said Monday that they are on track to carry out their first manned test flights to the space station in 2017. NASA chose the two private companies last...

  • CHICAGO— With virtually no hard proof that medical marijuana benefits sick children, and evidence that it may harm developing brains, the drug should only be used for severely ill kids who have no other treatment option, the nation's most influential pediatricians group says in a new policy. Some parents insist that medical marijuana has cured their kids'...

  • Prosperity Bancshares tops Street 4Q forecasts Friday, 23 Jan 2015 | 6:24 AM ET

    HOUSTON _ Prosperity Bancshares Inc. on Friday reported fourth-quarter earnings of $78.2 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share. Prosperity Bancshares shares have dropped 15 percent since the beginning of the year.

  • WASHINGTON— Macau, the Chinese territory known for casino gambling, outperformed the rest of the world's major cities economically last year, according to a report out Thursday. Cities in the developing world, especially China, dominated the top of the annual economic rankings of 300 cities worldwide by the Brookings Institution and JPMorgan Chase.

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • Kinder Morgan names Kean CEO to succeed Richard Kinder Wednesday, 21 Jan 2015 | 5:31 PM ET

    HOUSTON— Kinder Morgan Inc. said Wednesday that its founder Richard Kinder will step down as CEO in June and serve as chairman of the company. Kinder Morgan announced separately that it is acquiring oil and gas processing company Hiland Partners in a deal worth $3 billion, including roughly $1 billion in debt. Kinder Morgan says the purchase will give it access...

  • Jan 21- Kinder Morgan Inc, the top U.S. pipeline company, on Wednesday said co-founder Rich Kinder will step down as chief executive this summer in a long-expected move. Last year, Kinder presided over an unusual $44 billion deal that folded the company's master limited partnerships under one publicly traded corporation, Kinder Morgan Inc. It now has a market...

  • Kinder Morgan acquires Hiland Partners Wednesday, 21 Jan 2015 | 5:11 PM ET

    HOUSTON— Kinder Morgan says it is acquiring oil and gas processing company Hiland Partners in a deal worth $3 billion, including roughly $1 billion in debt. Kinder Morgan says the deal will give it access to some of the Bakken's most attractive and economically viable areas. Kinder Morgan says the acquisition will add modestly to its cash available to pay...

  • Crown Castle beats Street 4Q forecasts Wednesday, 21 Jan 2015 | 4:33 PM ET

    HOUSTON _ Crown Castle International Corp. on Wednesday reported fourth-quarter net income of $148.1 million, after reporting a loss in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share. For the current quarter ending in March, Crown Castle expects its per-share...

  • HOUSTON— Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000- plus workers Baker Hughes says it employs worldwide. Oil services rival Halliburton had announced in November it...

  • Schlumberger will spend about $1.7 billion for a minority stake in a big Russian energy company at a time when that country's relations with the West are under strain and as energy prices hit multiyear lows. Schlumberger said last week that it would cut 9,000 jobs in response to falling oil prices, which have forced other energy companies to lower their...

  • HOUSTON— Shares of Halliburton rallied Tuesday after the oilfield services company reported its fourth-quarter profit rose 14 percent in a performance that exceeded Wall Street expectations. Halliburton Chairman and CEO Dave Lesar said Tuesday morning during a conference call that his company's customers have chopped their capital expenditure...

  • Baker Hughes tops Street 4Q forecasts Tuesday, 20 Jan 2015 | 6:15 AM ET

    HOUSTON _ Baker Hughes Inc. on Tuesday reported fourth-quarter earnings more than doubled to $663 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share. Baker Hughes shares have climbed nearly 1 percent since the beginning of the year, while the Standard& Poor's 500 index has declined roughly 2...

  • WASHINGTON— Cheap oil doesn't only mean cheaper gas in the tank. It means that a car dealer in Illinois is shuffling the inventory of models he'll be selling, that more students in Wisconsin may get school-provided iPads, that some planned projects in a Southern California city will get delayed, and that some expected oilfield hiring in North Dakota and Texas may...

  • Apache Corp., Baker Hughes and Schlumberger have begun laying off employees in response to the oil price crash in the past six months, The Tulsa World reported Saturday. Apache's job cuts will likely impact several hundred employees of the Houston- based oil and gas producer, which is one of the nation's bigger independent firms. But she would not specify how many...

  • The Houston- based Prison Entrepreneurship Program began operations in 2004 and operates now in the Cleveland Correctional Facility in Cleveland, Texas, with plans to open a second unit in a Dallas- area prison this year. —Number of businesses grossing more than $1 million: at least two. —Recidivism rate: Less than 7 percent, compared with a rate of 23 percent overall...

  • CLEVELAND, Texas— Standing in a prison chow hall, Richard Chavez Jr. outlines his past: violent felon, former gang member, the fourth member of his family to go to prison. Then his future: owner of a mobile counseling youth service that goes where the troubled kids are. Arching a tattooed eyebrow, Chavez credits an innovative program run out of the Cleveland...