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  • HOUSTON, July 27- Hess Corp said on Wednesday it was pursuing legal action against Schlumberger NV for $40 million or more, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and crimped production. Hess executives claimed the company is owed between $30 million and $40 million in...

  • LONDON, July 22- The number of London Metal Exchange physical storage units continues to decline in tandem with falling registered stocks. As of July 8 there were 608 registered warehouses for the storage of base metals, down from 621 a year ago and from almost 700 in 2012 and 2013.. Total exchange-registered stocks have fallen to 3.6 million tonnes from over 7.5...

  • NEW ORLEANS— Oil giant Shell said Thursday that it will be cutting about 190 jobs from its deep-water Gulf of Mexico operations. Kimberly Windon, a Shell spokeswoman, said the company determined its staffing levels were higher than other operators'. Pavel Molchanov, an energy analyst with Raymond James, said companies around the world have been cutting jobs in...

  • Also rising at a fast clip, though, is speculative interest on both the London and Shanghai markets. Market open interest on the Shanghai Futures Exchange is surging, while speculative length in the LME is rapidly approaching those May 2015 peaks. Investors have got sucked into the zinc market before, most recently in May last year, when the London price peaked at...

  • Also rising at a fast clip, though, is speculative interest on both the London and Shanghai markets. Market open interest on the Shanghai Futures Exchange is surging, while speculative length in the LME is rapidly approaching those May 2015 peaks. Investors have got sucked into the zinc market before, most recently in May last year, when the London price peaked at...

  • 4. "60 Minutes," CBS, 8.17 million. 5. "Celebrity Family Feud," ABC, 7.77 million. 6. "The Big Bang Theory," CBS, 7.22 million.

  • NEW ORLEANS— A Texas lawyer and six co-defendants are now facing a reduced indictment of 73 charges, instead of 95, at federal trial on accusations that they faked more than 40,000 damage claims after the BP oil spill in 2010.. Online court records show that prosecutors dropped 22 counts of identity document fraud before jury selection began Monday in Gulfport,...

  • HOUSTON, July 1- U.S. refiner PBF Energy took ownership on Friday of a Los Angeles- area refinery purchased from Exxon Mobil Corp for $537.5 million, clearing the way for it to focus on further North American acquisitions. The takeover of the Torrance, California facility makes PBF the fourth largest independent U.S. refiner and expands its footprint from coast to...

  • Peter Hotez, of the National School of Tropical Medicine at Baylor College of Medicine, wrote in the medical journal JAMA Pediatrics that a host of pediatric specialists, including neurologists and experts in rehabilitation medicine "will need to mobilize quickly to get ahead of this fast-moving train." The current Zika outbreak was first detected in Brazil...

  • LONDON, June 17- Copper prices steadied on Friday as market worries over a potential British exit from the European Union receded and the dollar eased, though a surge in inventories weighed on zinc. Copper recovered along with other markets, including European shares and oil, which climbed after a suspension of campaigning for Britain's EU membership vote next...

  • LONDON, June 17- Copper prices steadied on Friday after worries diminished about Britain leaving the European Union and the dollar eased, but a surge in inventories weighed on zinc. Three-month copper on the London Metal Exchange was barely changed in official trading, inching down 0.04 percent to $4,535 a tonne by 1020 GMT, following the previous session's...

  • LONDON, June 17- Zinc continues to shine amid the general gloom pervading the base metals complex. On the London Metal Exchange benchmark three-month zinc (CMZN3> has eased back from the near one-year high of $2,105.50 per tonne hit earlier this month. Friday morning's LME stocks report, showing the warranting of 19,750 tonnes of zinc at New Orleans, is a timely...

  • LONDON, June 17- Copper prices recovered on Friday after worries diminished about Britain leaving the European Union and the dollar eased, but a surge in inventories weighed on zinc. Three-month copper on the London Metal Exchange had gained 0.6 percent to $4,564 a tonne by 1020 GMT, recovering some of the previous session's losses of more than 2 percent.

  • June 14- Eli Lilly and Co's Jardiance diabetes drug slashed the risk of progressive kidney disease in adults with type 2 diabetes in a large trial that had already proved the medication's ability to greatly reduce cardiovascular deaths and hospitalizations for heart failure. Jardiance, developed in partnership with privately held German drugmaker...

  • LONDON, June 10- Executives at a metals warehouse firm owned by commodities group Glencore allegedly ordered workers to falsify documents in New Orleans to manipulate the zinc market, according to a complaint filed by zinc purchasers in a U.S. On Monday, a U.S. judge in Manhattan allowed a private antitrust lawsuit to go forward against two units of Anglo-Swiss...

  • The International Lead and Zinc Study Group, for instance, estimates that mine output outside of China contracted by 9.5 percent in the first quarter. Now there are signs of tightness creeping into the London refined zinc market, with cash metal commanding a small $2.00 per tonne premium over three-month prices over the last couple of days.

  • WASHINGTON, May 31- The U.S. Supreme Court on Tuesday agreed to hear an appeal by State Farm contesting a jury finding that the insurance company defrauded the federal government when assessing damage caused by Hurricane Katrina in 2005 along the Gulf of Mexico coast. The court will consider a lawsuit brought by sisters Cori and Kerri Rigsby, former claims...

  • WASHINGTON, May 31- The U.S. Supreme Court on Tuesday agreed to hear an appeal by State Farm contesting a jury finding that the insurance company defrauded the federal government when assessing damage caused by Hurricane Katrina in 2005 along the Gulf of Mexico coast.

  • LONDON, May 6- The zinc market has for years been a story of shattered bullish dreams. London Metal Exchange stocks would spend months declining only for massive tonnages miraculously to reappear, as often as not at the U.S. port of New Orleans. The LME price for three-month delivery hasn't made it above $2,400 per tonne for any length of time since 2011.

  • WASHINGTON, May 2- The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill. The court left in place a September 2015 ruling by the New Orleans- based 5th U.S. Circuit Court of Appeals...