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  • Britain's Court of Appeal last week overturned a previous High Court ruling that the LME's consultation on linking load-in and load-out rates at log-jammed warehouses was unlawful. This, however, looks little more than defiant posturing, given that the Court of Appeal expressly denied it the right of further appeal. Just a shame then that the two aluminium...

  • NEW YORK, Oct 15- Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. At stake is not just the fate of a U.S. drilling frenzy that has transformed the North American energy picture and powered the U.S. economy, but the shape of the global market as OPEC leader Saudi Arabia hopes to claw share from U.S. producers.

  • Treasury clears way for oil spill recovery grants Tuesday, 14 Oct 2014 | 4:44 PM ET

    NEW ORLEANS— The U.S. Treasury Department says it has cleared the way for Gulf Coast states and local governments to begin applying for recovery grants through a federal RESTORE Act trust fund containing money from civil penalties in the 2010 BP oil spill. Under rules finalized Tuesday, 35 percent of the Gulf Restoration Trust Fund will be divided equally among...

  • Great Northern Paper filings show deficit Tuesday, 14 Oct 2014 | 6:32 AM ET

    PORTLAND, Maine— Recent court filings have revealed the depths of Great Northern Paper Co.' s financial hole. The Portland Press Herald reports that the company, managed by New Hampshire- based private equity firm Cate Street Capital, has roughly $28 million in assets, but has liabilities of slightly more than $65 million. The two largest secured creditors—...

  • New $3.7B gas line proposed for Ala., Ga., Fla. Saturday, 11 Oct 2014 | 9:21 AM ET

    ATLANTA— A proposal to build a $3.7 billion pipeline system carrying natural gas into Florida is raising complaints from Georgia residents— including media mogul Ted Turner— who say they'd face environmental costs while others get the benefits. Spectra Energy Partners LP and NextEra Energy Inc. are seeking federal permission to build the Sabal Trail and the...

  • New methanol plant planned for Plaquemines Parish Friday, 10 Oct 2014 | 3:12 PM ET

    BELLE CHASSE, La.— State officials have announced that Castleton Commodities International LLC plans a $1.2 billion methanol manufacturing plant in Plaquemines Parish. Castleton expects to begin construction in 2016. The plant is planned for the Braithwaite area along the Mississippi River. "The project location situated along the Mississippi River near...

  • Unequal Pay: Must be a lot of good karma out there Friday, 10 Oct 2014 | 2:20 PM ET

    Microsoft CEO Satya Nadella was widely derided Thursday for his foot-in-mouth statement at an event celebrating women in computing. During his stage interview, Microsoft director Maria Klawe asked Nadella to give advice to women who want to advance their careers but are uncomfortable asking for promotions and raises. He didn't say if he has employed that...

  • US rig count up 8 to 1,930 Friday, 10 Oct 2014 | 1:56 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. increased by eight this week to 1,930.. Of the major oil- and gas-producing states, New Mexico gained three rigs, Ohio, West Virginia and Wyoming each increased by two and Kansas, Texas and Utah each gained one. North Dakota lost seven rigs,...

  • Wary candidates fear boomerangs in jobless debate Friday, 10 Oct 2014 | 4:11 AM ET

    Less than an hour later, another GOP candidate from the same state gets attacked for it. For example, Georgia Republican Senate nominee David Perdue doesn't miss a chance to blame President Barack Obama and a Democratic-led Senate for the nation's slow economic recovery. "This president sold us a bill of goods," Perdue told a raucous crowd at the Georgia state...

  • *Venezuela may seek to annul World Bank tribunal's award. CARACAS, Oct 9- A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp around $1.6 billion to compensate for the 2007 nationalization of its oil projects in the country. "The Tribunal has found that the expropriation was conducted in accordance with due process, that it was...

  • NEW YORK/ HOUSTON, Oct 9- Investment bank Lazard Ltd has asked bidders that have shown interest in buying Citgo Petroleum Corp's U.S. refineries to submit an additional round of offers, people close to the deal told Reuters this week as the sale process proceeds despite doubts. Venezuela's state-run oil company PDVSA hired Lazard to handle the sale process for...

  • NY lawmaker backs tax credits for music production Thursday, 9 Oct 2014 | 3:01 AM ET

    ALBANY, N.Y.— A state legislator is proposing tax credits for music production in New York similar to the credits that have been provided for film and television production. Assemblyman Joe Lentol, a Brooklyn Democrat, is offering legislation to establish a 20 percent tax credit. Lentol says Georgia, Tennessee and Louisiana have passed legislation to provide...

  • Freeh says Ala. man should return Gulf claim money Wednesday, 8 Oct 2014 | 12:19 PM ET

    NEW ORLEANS— The former FBI chief appointed to investigate the BP oil spill claims process is seeking the return of nearly $240,000 from an Alabama man and his maritime business. Freeh says the federal court in New Orleans should order Jay Zirlott of Theodore and his business to repay $239,519 to the Deepwater Horizon Claims Center. Freeh's filing says lawyers...

  • NEW YORK, Oct 7- Bond insurer MBIA was told two weeks ago about a server breach that compromised the data of thousands of local U.S. government entities, but it did not address the problem until earlier this week, according to the cyber security expert who discovered the intrusion. MBIA said on Tuesday it had been notified that some client information at its...

  • BOSTON, Oct 6- Sahm Adrangi, who runs small hedge fund Kerrisdale Capital, told Wall Street on Monday he believes satellite communications company Globalstar Inc's business is worthless, sending its stock tumbling roughly 25 percent. Renting out the same mid-town Manhattan auditorium where prominent activist investor William Ackman has unveiled some of...

  • The meeting will consider whether adding screenings anywhere in the world might help, Victoria Day, a spokeswoman for the Washington- based group Airlines for America, said on Monday. American officials have said they would consider new ways to curb the worst outbreak of the disease on record after the first case of Ebola was detected in the United States last...

  • DALLAS/ NEW YORK, Oct 6- The fifth American to contract Ebola in West Africa arrived in the United States for treatment on Monday as the first patient diagnosed with the deadly virus on U.S. soil fought for his life at a Dallas hospital, officials said. A private plane carrying Ashoka Mukpo, a freelance cameraman for NBC News who contracted Ebola in Liberia, landed in...

  • *Iberdrola wants to make acquisition in the U.S. MADRID/ FRANKFURT, Oct 6- Spanish power firm Iberdrola has hired JPMorgan Chase& Co to sell some foreign renewable assets which could raise up to 2 billion euros to help fund an acquisition in the fast-growing U.S. market, three sources with knowledge of the matter said. Iberdrola's earnings suffered in Europe's...

  • DALLAS/ NEW YORK, Oct 6- The first person diagnosed with Ebola in the United States was fighting for his life at a Dallas hospital and appeared to be receiving none of the experimental medicines for the virus, a top U.S. health official said. Thomas Eric Duncan became ill after arriving in Texas from Liberia two weeks ago, heightening concerns that the worst Ebola...

  • DALLAS/ NEW YORK, Oct 5- The first person diagnosed with Ebola in the United States was fighting for his life at a Dallas hospital on Sunday and appeared not to be receiving any of the experimental medicines for the virus, a top U.S. medical official said. Thomas Eric Duncan became ill after arriving in the Texas city from Liberia two weeks ago, heightening concerns...