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Top News & Analysis Texas

  • NEW YORK/ HOUSTON, July 27- U.S. refineries are producing more fuel than ever as they seek to meet rising demand- from overseas, rather than the drivers on nearby roadways. Last year, the U.S. became the world's top net exporter of fuel, an outgrowth of booming domestic production since the shale oil revolution started in 2010. That's a fundamental shift from the...

  • NEW YORK/ HOUSTON, July 27- U.S. refineries are producing more fuel than ever as they seek to meet rising demand- from overseas, rather than the drivers on nearby roadways. Last year, the U.S. became the world's top net exporter of fuel, an outgrowth of booming domestic production since the shale oil revolution started in 2010. That's a fundamental shift from the...

  • WILMINGTON, Del., July 26- A U.S. bankruptcy judge on Wednesday gave Elliott Management Corp 11 more days to formalize its plans to bid on Oncor Electric Delivery Co before the court approves the $9 billion offer for the utility from Berkshire Hathaway Inc.. Judge Christopher Sontchi of the Delaware bankruptcy court pushed back the hearing for the approval of...

  • MEXICO CITY, July 26- Mexican conglomerate Alfa on Wednesday posted a 68 percent year-on-year surge in net profit for the second quarter, citing increased sales and a more favorable exchange rate. The company, which manufactures car parts, petrochemicals and other products, said in a report to Mexico's bourse that it earned 1.37 billion pesos in net profit over...

  • July 26- Power development company Invenergy LLC and General Electric Co on Wednesday announced plans to build the largest wind farm in the United States in Oklahoma, part of a $4.5 billion project to provide electricity to 1.1 million utility customers in the region. American Electric Power Co Inc is asking utility regulators in Louisiana, Arkansas, Texas and...

  • WILMINGTON, Del., July 26- Warren Buffett's Berkshire Hathaway Inc will walk away from its $9 billion acquisition of Oncor Electric Delivery Co if the deal is delayed, an attorney for the parent company of Texas' largest utility told a bankruptcy judge on Wednesday. Energy Future Holdings Corp, the bankrupt owner of Oncor, disclosed Berkshire Hathaway's warning...

  • Despite the weak results and oil price environment, Chief Executive John Hess touted the company's growth potential, citing process and technology improvements. In North Dakota's Bakken shale, for instance, the company expects output to grow 10 percent per year "over the next several years," Hess said. Gulf of Mexico and the Gulf of Thailand, posted a net loss of...

  • July 26- AT&T Inc shares jumped more than 4 percent on Wednesday, notching their biggest one-day percentage gain since March 2009, a day after the carrier said its bundled products had helped slow losses of its most lucrative wireless customers. The company's better-than-expected subscriber metrics and margin performance alleviated some concerns that...

  • WILMINGTON, Del., July 26- Warren Buffett's Berkshire Hathaway Inc will walk away from its $9 billion acquisition of Oncor Electric Delivery Co if the deal is delayed, an attorney for the parent company of Texas' largest utility told a bankruptcy judge on Wednesday. Energy Future Holdings Corp, the bankrupt owner of Oncor, disclosed Berkshire Hathaway's warning...

  • LOS ANGELES, July 26- Whole Foods Market Inc, which has agreed to be bought by Amazon.com Inc for $13.7 billion, on Wednesday reported a quarterly profit decline after same-store sales fell for the eighth quarter in a row. Net income fell to $106 million, or 33 cents per share, from $120 million, or 37 cents per share, a year earlier. The Austin, Texas- based upscale grocer...

  • LOS ANGELES, July 26- Whole Foods Market Inc, which has agreed to be bought by Amazon.com for $13.7 billion, on Wednesday reported a quarterly profit decline after same-store sales fell for the eighth quarter in a row. Net income fell to $106 million, or 33 cents per share, from $120 million, or 37 cents per share, a year earlier. The Austin, Texas- based upscale grocer...

  • Despite the weak results and oil price environment, Chief Executive John Hess touted the company's growth potential, citing process and technology improvements. In North Dakota's Bakken shale, for instance, the company expects output to grow 10 percent per year "over the next several years," Hess said. Gulf of Mexico and the Gulf of Thailand, posted a net loss of...

  • Shares of New York- based Hess fell 4 percent to $43.57 in morning trading. Gulf of Mexico, posted a net loss of $449 million, or $1.46 per share, in the reported quarter, compared with a loss of $392 million, or $1.29 per share, a year earlier. The company said losses in the exploration and production unit- its biggest- climbed to $354 million in the second quarter ended...

  • July 26- No.1 U.S. homebuilder D.R. Horton posted a "very in-line quarter," MKM Partners analyst Megan McGrath wrote in a note. Fort Worth, Texas- based D.R.

  • JAKARTA, July 26- Indonesia is closer to a deal with Freeport McMoRan Inc on its long-term future in the country, but key issues still need to be resolved before the U.S. miner gets a new operating permit for its huge copper mine, a mining ministry official said. Shares of the world's biggest publicly traded copper miner jumped to a 16- month high on Tuesday after...

  • HOUSTON, July 25- Indonesia is open to rejoining the Organization of the Petroleum Exporting Countries as long as it is not forced to curb its own crude oil production, the nation's energy and mineral resources minister said on Tuesday. Indonesia said two months ago that it was considering rejoining OPEC after it had left and rejoined several times over the...

  • HOUSTON, July 25- Indonesia is open to rejoining the Organization of the Petroleum Exporting Countries as long as it is not forced to curb its own crude oil production, the nation's energy and mineral resources minister said on Tuesday. "We would have to have a concession for not following cuts from time to time," the minister, Ignasius Jonan, said in an interview in...

  • LOS ANGELES, July 25- Chipotle Mexican Grill Inc is retraining kitchen crews on food safety and enforcing a zero-tolerance policy for employees refusing to abide by new rules, after identifying a sick employee as the cause of a Norovirus outbreak that forced it to briefly close a restaurant in Virginia last week. The company's stock had flirted around $750 two...

  • LOS ANGELES, July 25- Chipotle Mexican Grill Inc's quarterly profit more than doubled on stronger sales, fewer giveaways and lower labor costs, as the burrito seller tries to win back customers after several food safety lapses tarnished its brand. The company said on Tuesday it is retraining kitchen crews on food safety and implementing a zero-tolerance...

  • Buoyed by its performance, the company forecast third-quarter profit of between $1.04 per share and $1.18 per share and revenue of $3.74 billion to $4.06 billion, above analysts' average expectation of a profit of $1.05 per share and revenue of $3.76 billion, according to Thomson Reuters I/B/E/S. Texas Instruments said net income rose to $1.06 billion, or $1.03...