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  • Rocket explodes during US test flight; no injuries Friday, 22 Aug 2014 | 8:40 PM ET

    MCGREGOR, Texas— An unmanned SpaceX rocket self-destructed shortly after launching on a test flight at a Central Texas development site, the company said Friday. Nobody was injured in the afternoon explosion at the test site in McGregor, Texas, 23 miles southeast of Waco. A representative of the Federal Aviation Administration was present for the flight.

  • News of the switch for the 60,000 barrel-per-day pipeline has already sharply narrowed the discount for WTI delivered at Midland to that at Cushing, the delivery point for the benchmark U.S. crude futures contract.

  • The Monterrey- based company will also dramatically ramp up its electricity generation over the next five years in the wake of a major energy sector overhaul, Raul Millares, Alfa's energy director, said in an interview. "Alfa sees very favorably our ability to develop business here in Mexico in the areas of oil and gas," Millares said.

  • But Bridget Fitzpatrick, a lawyer for the SEC, said the proposed award was appropriate given "egregious" violations that allowed the Wylys to accumulate hundreds of millions of dollars.

  • Business Highlights Friday, 22 Aug 2014 | 5:44 PM ET

    Yellen: Job market makes Fed hesitant on rate hike. JACKSON HOLE, Wyoming— If anyone thought Janet Yellen might clarify her view of the U.S. job market in her speech here Friday, the Federal Reserve chair had a message:. North Texas, SMU and Troy University will begin beer sales to the general public this season.

  • Correction: Oil Spill-Land Conservation story Friday, 22 Aug 2014 | 5:37 PM ET

    HOUSTON— In a story Aug. 21 about a new state park planned for southeast Texas, The Associated Press erroneously reported the amount of money from a BP and Transocean fund that was used to buy the land. Conservationists team up to buy Texas bayside ranch with $30 M from BP's 2010 oil spill fund.

  • NEW YORK, Aug 22- U.S. prosecutors have brought a trio of new charges against a Texas man accused of creating the underground online drug marketplace Silk Road.

  • Recalls this week: bean bag chairs, cribs Friday, 22 Aug 2014 | 3:28 PM ET

    About 2.2 million bean bag chairs are being recalled following the deaths of two children who suffocated after they crawled inside the chairs. Other recalled products include convertible cribs with a defect that can create a hazardous gap.

  • US rig count down 17 to 1,896 Friday, 22 Aug 2014 | 3:04 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell 17 this week to 1,896.. Of the major oil- and gas-producing states, Kansas gained two rigs while Arkansas, Louisiana, West Virginia and Wyoming each rose by one.

  • But Bridget Fitzpatrick, a lawyer for the SEC, said the proposed award was appropriate given "egregious" violations that allowed the Wylys to accumulate "staggering wealth." The companies were Sterling Software Inc, Michaels Stores Inc, Sterling Commerce Inc and Scottish Annuity& Life Holdings Ltd, now Scottish Re Group Ltd..

  • Southwest jet makes emergency landing in Dallas Friday, 22 Aug 2014 | 1:13 PM ET

    DALLAS— A Southwest Airlines jet has made a safe emergency landing after sustaining a blown tire during takeoff. Southwest spokesman Brad Hawkins said Friday that Flight 8 was bound for Austin but returned to Dallas Love Field after the tire blew.

  • GM opens IT center in Phoenix, Arizona Friday, 22 Aug 2014 | 12:00 PM ET

    Aug 22- General Motors Co said it opened a fourth IT center in the United States in Phoenix, Arizona as it aims to improve performance and cut operational costs. The automaker said it expects to hire 1,000 employees at the center over the next five years. GM's three other IT centers are in Warren, Michigan, in Austin, Texas and in Roswell, Georgia.

  • Aug 22- Power company Dynegy Inc said on Friday that it would buy coal and gas power plants for $6.25 billion to increase its presence in two less regulated eastern U.S. markets. Dynegy shares rose as much as 22.5 percent in early trading.

  • NEW YORK, Aug 22- U.S. prosecutors have brought a trio of new charges against a Texas man accused of creating the underground online drug marketplace Silk Road ahead of his November trial.

  • 2.2 million bean bag chairs recalled after deaths Friday, 22 Aug 2014 | 10:32 AM ET

    The U.S. Consumer Product Safety Commission said Friday that the zippers on the chairs, which are made by Ace Bayou Corp., can open. A 13- year-old boy from McKinney, Texas, and a 3- year-old girl from Lexington, Kentucky, were found dead inside the chairs after they suffocated from a lack of air and inhaled the chair's foam beads.

  • SpaceX gets 10-year tax exemption for Texas site Friday, 22 Aug 2014 | 8:15 AM ET

    BROWNSVILLE, Texas— Cameron County commissioners have agreed to waive 10 years of county taxes as part of an agreement bringing the world's first commercial site for orbital rocket launches to the southernmost tip of Texas.

  • BULLARD SAYS ANOTHER RECESSION IN EUROPE WOULD BE A SERIOUS ISSUE FOR U.S.

  • BULLARD SAYS HE DISAGREES WITH FED'S DESCRIPTION OF LABOR RESOURCES.

  • Dynegy to spend $6.25B on power plant acquisitions Friday, 22 Aug 2014 | 7:58 AM ET

    Dynegy plans to spend more than $6 billion to buy several coal and gas power generation plants from Duke Energy and Energy Capital Partners. The deal will add about 12,500 megawatts of coal and gas generation and expand Dynegy's retail business into Ohio, Pennsylvania and Michigan.

  • Ahead of the Bell: GameStop shares rise on results Friday, 22 Aug 2014 | 7:48 AM ET

    NEW YORK— Shares of GameStop jumped in premarket trading Friday after the video game retailer said its quarterly profit more than doubled on strong sales of new consoles.