Top News & Analysis Texas

  • DALLAS, Jan 17- Facebook Inc Chief Executive Officer Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that the virtual-reality technology of Facebook's Oculus unit was stolen. Zuckerberg, wearing a dark suit and striped tie rather than his typical T-shirt and jeans, began testifying at 9 a.m....

  • A worker prepares to lift drills by pulley to the main floor of a drilling rig in the Permian basin.

    The deal is the largest oil and gas acquisition in the United States since oil prices crashed in November 2014.

  • MIDLAND, Texas, Jan 17- Exxon Mobil Corp said on Tuesday it will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States. Exxon is exchanging an initial $5.6 billion in stock for leases covering roughly 275,000 acres from the Bass family of Fort Worth, Texas. Most of the wells to be drilled...

  • DALLAS, Jan 17- Facebook Inc Chief Executive Officer Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that Facebook's virtual-reality technology of its Oculus unit was stolen. Zuckerberg, wearing a suit and tie rather than his typical T-shirt, was still on the witness stand after more than an...

  • Donald Trump

    How can the Trump administration replace Obamacare without falling flat on its face? Tell the states to do it instead, says Vox's Ezra Klein.

  • MIXED MARKET: Nearly as many stocks rose on the New York Stock Exchange as fell, despite all three major stock indexes being down. It rose $1.74, or 3.1 percent, to $57.71 after British American Tobacco said it would buy the remaining 57.8 percent of the company that it doesn't already own. British American Tobacco said it will pay $59.64 per share in cash and stock.

  • Jan 17- Exxon Mobil Corp said on Tuesday it would buy companies owned by the Bass family of Texas in a deal worth up to $6.6 billion that would boost it presence in the Permian Basin, one of the country's most cost-effective oil fields. An uptick in oil prices has been encouraging healthier energy companies to buy up assets- especially in the Permian Basin, which...

  • LONDON, Jan 17- U.S. petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion. U.S. oil output was essentially flat between July and October 2016, after sliding between April 2015 and June 2016. More than half of all the new rigs have been added in the Permian...

  • MEXICO CITY, Jan 17- Mexico's state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations under the country's energy opening, a senior executive said in an interview. The cargo of just under 60,000 barrels arrived from Port Arthur, Texas, on...

  • WASHINGTON, Jan 17- The U.S. Supreme Court on Tuesday allowed private antitrust lawsuits brought by investors including big U.S. cities accusing major banks of conspiring to manipulate the pivotal Libor benchmark interest rate to move forward. The justices rejected an appeal filed by a group of banks including Bank of America Corp, Deutsche Bank AG, UBS AG and...

  • Jan 17- Exxon Mobil Corp said on Tuesday it will buy companies owned by the Bass family of Fort Worth, Texas in a deal worth up to $6.6 billion that would more than double its output from the prolific Permian basin. Exxon said it will make an upfront payment of $5.6 billion in stock as well as a series of contingent cash payments totaling up to $1 billion over a period of...

  • The Dallas- based bank said net income attributable to common shareholders rose to $163 million in the fourth quarter ended Dec. 31, from $115 million a year earlier. Earnings per share rose to 92 cents from 64 cents. "With oil prices stabilizing, we remain very comfortable with our energy portfolio and the level of reserves we have established," Chief Executive...

  • WASHINGTON, Jan 17- Billionaire Wilbur Ross, chosen by Donald Trump to help implement the president-elect's trade agenda, earned his fortune in part by running businesses that have offshored thousands of U.S. jobs, according to Labor Department data attained by Reuters. Data attained by Reuters through a Freedom of Information Act request shows that rescue...

  • DALLAS _ Comerica Inc. on Tuesday reported fourth-quarter profit of $163 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share. Comerica shares have increased nearly 3 percent since the beginning of the year, while the Standard& Poor's 500 index has risen nearly 2 percent.

  • The Dallas- based bank said net income attributable to common shareholders rose to $163 million in the fourth quarter ended Dec. 31 from $115 million a year earlier. Earnings per share rose to 92 cents from 64 cents. Provisions for bad loans fell 41.7 percent to $35 million, while net interest income rose 5.1 percent to $455 million.

  • WASHINGTON, Jan 17- Billionaire Wilbur Ross, chosen by Donald Trump to help implement the president-elect's trade agenda, earned his fortune in part by running businesses that have offshored thousands of U.S. jobs, according to Labor Department data attained by Reuters. Data attained by Reuters through a Freedom of Information Act request shows that rescue...

  • WASHINGTON, United States- Federal Reserve Board Governor Lael Brainard speaks on monetary and fiscal policy before the Brookings Institution- 1500 GMT. WASHINGTON- Federal Reserve Board Chair Janet Yellen will host a webcast townhall meeting with educators from across the country and participate via webcast from Federal Reserve Bank offices throughout...

  • WASHINGTON, United States- Federal Reserve Board Governor Lael Brainard speaks on monetary and fiscal policy before the Brookings Institution- 1500 GMT. WASHINGTON- Federal Reserve Board Chair Janet Yellen will host a webcast townhall meeting with educators from across the country and participate via webcast from Federal Reserve Bank offices throughout...

  • The IRS is sending personalized letters to millions of taxpayers who might be uninsured, reminding them that they could be on the hook for hundreds of dollars in fines under the federal health care law if they don't sign up soon through HealthCare.gov. The administration is counting on IRS reminders to help sign up as many people as possible before open...

  • An F-35 fighter flying over the Pacific Ocean this week during in-flight refueling tests.

    The chief executive of Lockheed Martin moved quickly to responded to criticism from President-elect Donald Trump, The NYT reports.