Under the agreement, CNOOC's Offshore Oil Engineering Co will build "core modules" for the liquefication process on the project in Yamal in the Russian Arctic, according to a statement posted on CNOOC's website.» Read More
NEW YORK-- Fitch Ratings has put Ocwen Financial Corp. on watch for a possible downgrade after the company announced plans to buy Homeward Residential Holdings Inc.. Ocwen is paying $588 million in cash and $162 million in convertible preferred stock for Homeward. Shares of Atlanta- based Ocwen fell 47 cents, or 1.3 percent, to close at $36.28 Monday.
SAN ANTONIO-- Cracker Barrel is in an extended fight with its biggest shareholder, Sardar Biglari. In a public letter to Cracker Barrel Old Country Store Inc. on Monday, Biglari, said the restaurant was being misleading when, in a letter to shareholders last week, it referred to chairman-elect Jim Bradford as "a former NYSE company CEO."
BISMARCK, N.D.-- The tax director of North Dakota's Three Affiliated Tribes says the tribe should get a bigger share of tax revenue from oil that's produced on the reservation. The Fort Berthold reservation is in the heart of North Dakota's booming oil country.
Prices for a wide range of commodities fell Monday after a new forecast of slower growth in China ramped up worries about the global economy. The World Bank's lowered expectation for China was one of three issues that prompted investors to sell riskier assets on a day when volumes were light because of the Columbus Day holiday.
The ruling reverses a lower court's dismissal of Buffalo victim Daniel Williams' complaint. Williams claimed Ohio gun maker Hi-Point and distributor MKS Supply intentionally supplied handguns to irresponsible dealers for profit.
SEATTLE-- Alaska Airlines has fixed the computer problem that delayed flights Monday across its 64- airport network on the West Coast and in Mexico and Canada, and operations slowly were returning to normal. Alaska Airlines said the data connection was restored before 1 p.m. but passengers could still expect some delays as the system adjusted.
Activists joined current and retired Atlanta police Monday for a demonstration and discussion at the home of retired Atlanta police Det. Jaqueline Barber in Fayetteville, south of the city. Representatives of Minneapolis- based U.S. Bank, which is involved in the foreclosure proceedings, did not return phone calls and emails from The Associated Press.
TOPEKA, Kan.-- A Kansas school funding task force heard from a policy analyst Monday who said what matters isn't the amount of money spent on K-12 education but how it's spent. Dave Trabert, president of the Kansas Policy Institute, a conservative, free-market research and advocacy group, told members of the task force appointed by Gov.
PRESCOTT, Ark.-- A roofing products company in Prescott, Ark. is marking the completion of a $36 million expansion and the addition of 100 new jobs. In 2011, the company announced it would close a factory in Kingtree, S.C., and move those jobs to the expanded Prescott plant.
AUSTIN, Texas-- Education leaders in the Texas Senate are holding a hearing on the growing demand for virtual learning statewide. Leticia Van de Putte of San Antonio will serve as acting chairwoman for Monday's hearing, which will include testimony on successful virtual learning programs and analyzing what hinders those not working so well.
SEATTLE-- Alaska Airlines says its computer connections have been restored, and operations are returning to normal at its airport gates. The problem started just before 8 a.m. Monday when the airline lost its connection to the Sabre reservation system because of two cut Sprint fiber optic lines.
WEIRD WEATHER: Spring freezes and a historic drought have stripped some charm from rustic fall destinations, especially in the Midwest, leaving some corn too short to create mazes, orchards with few apples and fall colors muted.
CANTON, Miss.-- A health care company has donated $30,000 to help children in Mississippi stay healthy. The money was donated over the weekend to the Mississippi 4- H club's Eat4-Health campaign. United Healthcare is sponsoring four community events in Jackson, Canton, Belzoni and Clarksdale to promote fitness, nutrition and healthy living.
NEW YORK-- Red Bull is rolling out three fruity flavors this spring, as the company looks to boost its stake in the rapidly growing market for energy drinks. The fruity flavors were first sold in Europe, but a representative for Red Bull didn't know how long they had been on sale there.
Stocks closed lower on Wall Street as investors worry about forecasts for a weak season for U.S. corporate earnings and slower growth in Asia. Companies in the S&P 500 are expected to post an overall decline in profits for the first time in almost three years. Meanwhile the World Bank warned that a more pronounced slowdown is possible in China.
LAS VEGAS-- The owners of a business featured in the cable television show "Pawn Stars" and the network that handles the show are being sued in Nevada state court by a Las Vegas promoter who claims he was wrongly fired in January and denied a share of profits.
SEATTLE-- Alaska Airlines computer connection restored, airport operations slowly returning to normal.
Raytheon Co. said Monday that it has won a $349 million five-year contract to provide anti-tank missiles for the U.S. government. Under the contract, Raytheon will deliver 6,676 of the new wireless missiles for the U.S. Army. The defense contractor is based in Waltham, Mass. Its shares fell 14 cents to $55.34 by late afternoon.
NEW YORK-- A strong warning from the World Bank that growth in Asia may slow further dragged the price of oil Monday to its lowest close in two months. _ Benchmark crude fell 55 cents to close at $89.33 in New York. On the ICE Futures Exchange in London:.