The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
adviser@ (Adds details, context)
CARACAS, Aug 2 (Reuters) - The International Chamber of Commerce's arbitration tribunal has dismissed U.S. oil company ConocoPhillips' $1.5 billion claim against Venezuelan state oil company PDVSA, an adviser to opposition leader Juan Guaido said on Friday.
The case related to Venezuela's breaking of a contract with Conoco regarding its stake in an offshore oil project called Corocoro. Under the arbitration ruling, PDVSA will have to pay only $33.7 million for an outstanding loan to Conoco, the adviser, Jose Ignacio Hernandez, wrote on Twitter.
The Corocoro case is separate from an $8.7 billion award granted to Conoco by the World Bank's International Center for Settlement of Investment Disputes (ICSID) related to the 2007 expropriation of all of Conoco's projects in the South American country.
Hernandez, designated as Guaido's chief legal representative abroad, is seeking to annul that award, arguing that the methodology to determine the compensation was "errant."
Guaido, the leader of the opposition-controlled National Assembly, in January invoked Venezuela's constitution to assume an interim presidency, arguing President Nicolas Maduro's 2018 re-election was illegitimate. Maduro calls Guaido a U.S. puppet seeking to oust him in a coup.
Guaido and Hernandez have prioritized protecting PDVSA's assets abroad, namely U.S. refining subsidiary Citgo , which has come under threat by creditors and other parties seeking compensation from Venezuela's highly indebted government.
Conoco has separately sued PDVSA and Citgo in a Texas court requesting that Citgo's assets be protected from other creditors and not be sold until the arbitration process is ultimately resolved.
(Reporting by Luc Cohen; Editing by Marianna Parraga and Will Dunham)