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Oklahoma

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  • Oklahoma revenues sufficient to trigger tax cut Wednesday, 17 Dec 2014 | 7:35 PM ET

    Secretary of Finance Preston Doerflinger announced the estimate for general revenue fund collections for the upcoming fiscal year is about $60 million more than the estimate made in February 2013, thus triggering the cut. Doerflinger says the average tax filer will save about $85 a year, while the cut is expected to cost the state about $147 million annually.

  • NEW YORK, Dec 17- Crude oil jumped nearly 5 percent on Wednesday as important chart support prices held fast after nearly a week of selling, leading to technical buying that turned the market around abruptly. "I think it was triggered by some short-covering, and once it gets going it feeds upon itself," said John Saucer at Mobius Risk Group in Houston.

  • In final 2014 push, Congress renews tax breaks Wednesday, 17 Dec 2014 | 2:07 AM ET

    WASHINGTON— Banks, retailers, commuters and teachers will keep their temporary tax breaks for another year after Congress gave final approval Tuesday to a massive tax package affecting millions of businesses and individuals. More narrow provisions include tax breaks for filmmakers, racehorse owners and rum producers in Puerto Rico and the Virgin Islands.

  • 113th Congress ends with more fights than feats Wednesday, 17 Dec 2014 | 1:16 AM ET

    WASHINGTON— The tempestuous 113th Congress has limped out of Washington for the last time, capping two years of modest and infrequent legislating that was overshadowed by partisan clashes, gridlock and investigations. That was the fewest since at least 1947 and 1948, when what President Harry Truman dubbed "the do-nothing Congress" enacted over 900 laws.

  • Congress votes to extend tax breaks through 2014 Tuesday, 16 Dec 2014 | 7:32 PM ET

    WASHINGTON— Banks, retailers, commuters and teachers will keep their temporary tax breaks for another year after Congress gave final approval Tuesday to a massive tax package affecting millions of businesses and individuals. More narrow provisions include tax breaks for filmmakers, racehorse owners and rum producers in Puerto Rico and the Virgin Islands.

  • Senate OKs nominees and tax bill as term ends Tuesday, 16 Dec 2014 | 3:17 AM ET

    WASHINGTON— The Democratic-controlled Senate confirmed the last batch of President Barack Obama's judicial appointees and sent the White House legislation extending tax breaks for working-class millions and special interests alike late Tuesday as Congress ended a tumultuous two-year run. But dozens of Obama's nominees to agency positions won...

  • HOUSTON, Dec 12- Banks are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly-leveraged U.S. exploration and production firms. But I don't think anybody is going to be able to add on significantly more debt, "said Christian Ledoux, a senior portfolio manager at San Antonio-...

  • Senate OKs defense policy bill Friday, 12 Dec 2014 | 1:34 PM ET

    WASHINGTON— The Senate is on track to approve a massive defense policy bill that endorses President Barack Obama's stepped-up military campaign of air strikes and training of Iraqis and moderate Syrian rebels in the war against Islamic State militants. Tom Coburn, R- Okla., and several other GOP senators. Once passed, the Senate would send the $585 billion...

  • Best-known is Continental Resources, which lifted its hedges in early November, when oil was trading at around $83 a barrel, leaving it unprotected as prices slipped another $20, the most dramatic drop since the 2008 crisis. Apache Corp and Whiting Petroleum are also exposed to lower prices and have underperformed some peers over the past two weeks.

  • Falling oil prices raise new concerns for states Thursday, 11 Dec 2014 | 3:04 PM ET

    Some states, such as Texas, have diversified their economies since oil prices crashed in the mid-1980s. Others, such as Alaska, remain heavily dependent on oil and will have to tap into sizeable savings to get by. U.S. crude oil prices that topped $100 per barrel this summer have plunged to barely $60 this week, the result of high supplies globally and expanded...

  • House approves $1.1T bill financing government Thursday, 11 Dec 2014 | 3:11 AM ET

    The 219-206 vote cleared the way for a final showdown in the Senate on the bill— the last major measure of a two-year Congress far better known for gridlock than for bipartisan achievement. The White House stated its own objections to the bank-related proposal and other portions of the bill in a written statement. Even so, officials said Obama and Vice President...

  • 42.9 million Americans have unpaid medical bills Thursday, 11 Dec 2014 | 12:02 AM ET

    WASHINGTON— Nearly 20 percent of U.S. consumers with credit records— 42.9 million people— have unpaid medical debts, according to a new report by the Consumer Financial Protection Bureau. "When people fall ill and end up at the hospital with unexpected bills, far too often they have entered into a financial maze," CFPB director Richard Cordray said in a speech to be...

  • House renews government terror insurance backstop Wednesday, 10 Dec 2014 | 5:02 PM ET

    WASHINGTON— The House Wednesday passed a long-sought legislation to renew a government program that's credited with reviving the market for insurance against terrorist attacks after the Sept. 11 attacks. But the measure, despite passing by a 417-7 vote, has run into trouble in the Senate because of opposition to an unrelated item involving a rewrite of a...

  • Suit filed in crash that killed senator's son Wednesday, 10 Dec 2014 | 12:29 PM ET

    The suit, which asks for at least $75,000 in damages, names Honeywell International Inc., Standard Aero, Standard Aero Inc. and International Jet Service Corp. as defendants, the Tulsa World reported. Honeywell spokesman Scott Sayres said in a statement that the company "firmly believes neither its engines nor any of its other products were responsible for...

  • *OPEC trims world oil demand forecast to 28.92 mln bpd. *Brent crude falls below $65/ bbl, lowest since Sept 2009. LONDON, Dec 10- Brent crude oil fell to a new five-year low below $65 a barrel on Wednesday on mounting signs of oversupply and lacklustre demand as global economic growth falters.

  • *U.S. crude for January delivery was down 57 cents at $63.25 a barrel by 0000 GMT. The contract gained 77 cents at the close on Tuesday after falling to as low as $62.25, its weakest since July 2009. *Brent crude settled 65 cents higher at $66.84 after dropping to $65.29, its lowest since September 2009.

  • Coburn report criticizes federal tax giveaways Tuesday, 9 Dec 2014 | 11:50 AM ET

    OKLAHOMA CITY— The United States' federal tax code is an overly complicated and unfair system that often rewards the wealthy with millions of dollars in tax breaks while punishing working Americans and businesses, U.S. The Muskogee Republican held a news conference in Washington for the release of his 320- page "Tax Decoder" that highlights tax fraud and...

  • Dec 9- Spirit AeroSystems Holdings Inc, an aircraft parts maker, said it will pay rival supplier Triumph Group Inc $160 million to take over its wings contract for two Gulfstream business jets. Triumph, based in Berwyn, Pennsylvania, said the deal would immediately add to its earnings and boost annual revenue by $250 million. Gulfstream, a unit of General Dynamics...

  • Dec 9- Aircraft fuselage maker Spirit AeroSystems Holdings Inc said it would pay aero parts supplier Triumph Group Inc $160 million to take its business that makes wings for two Gulfstream jets. Spirit will incur a loss of $1.45- $1.65 per share on the transaction, which is expected to close this year, the company said. Spirit put its Tulsa, Oklahoma operations,...

  • Religious nonprofits challenge health law Monday, 8 Dec 2014 | 6:17 AM ET

    Plaintiffs including a group of Colorado nuns and four Christian colleges in Oklahoma argued in the 10th U.S. Circuit Court of Appeals in Denver that a federal exemption for groups that oppose contraceptives, including the morning-after pill, violates their beliefs. "It is morally problematic" to sign the forms, argued Greg Baylor, lawyer for Southern Nazarene...