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The business of Halloween

Halloween is all about having fun. Whether it’s buying bags upon bags of candy for hungry trick-or-treaters, or buying your favorite costume at the party store. But have you ever thought about how Halloween affects the economy? The Denver Business Journal thought about it, and writer Caitlin Hendee looked into the numbers behind one of the most popular holidays of ...

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Exclusive: Morgan Stanley commodities staff spooked by CEO comment

NEW YORK – During Morgan Stanley’s <MS.N> public earnings call earlier this month, Chief Executive James Gorman made a remark that hit his commodities staff like a bombshell: the bank plans to further “optimize” its business of owning and trading stuff like oil, natural gas, electricity and metals. So this past Monday, when co-head of the commodities business Simon Greenshields ...

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Imperial Oil profit jumps 45 percent as income from refining surges

Oct 31 – Imperial Oil Ltd, Canada’s second largest integrated oil producer and refiner, reported a 45 percent jump in third-quarter profit as it refined more crude oil at higher margins. Weak crude prices helped boost margins at the company’s refining business, which accounts for three-quarters of its total revenue. Global oil prices have fallen by about 25 percent since ...

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Exxon, Chevron results boosted by refining as oil prices slip

Mobil sign

(Reuters) – A surge in refining profits boosted quarterly results at Exxon Mobil Corp <XOM.N> and Chevron Corp <CVX.N>, helping to offset declining oil and gas production and falling crude oil prices. Both companies reported better-than-expected third-quarter profits on Friday, with executives touting the importance of owning massive refineries alongside oil and gas wells. Refining profits tend to rise when ...

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Marathon reports 3Q profit of $672M

Marathon oil

FINDLAY — Helped by improved margins in its refined oil products, Marathon Petroleum Corp. on Thursday reported a third-quarter profit of $672 million, or $2.36 a share, a 300 percent increase over the same period a year ago. Marathon’s third-quarter results beat Zack’s Equity Research’s estimates of $2.34 a share. A year ago the Findlay oil company had a profit ...

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Brent oil price the main factor in U.S. gasoline prices -EIA

WASHINGTON, Oct 30- U.S. gasoline prices are mainly set by global oil prices, a government report said on Thursday, a conclusion that should ease concerns among some lawmakers that lifting a crude oil export ban would mean pain at the pump for American motorists. In essence the report supported the notion that easing the export restriction, imposed by Congress in ...

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National Oilwell posts 60 pct fall in oilfield equipment orders

Oct 30 – National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said orders at a unit that make rigs and drilling components fell 60 percent, overshadowing a better-than-expected quarterly profit. The company’s shares fell as much as 4 percent in early trading. Oil and gas companies, facing increasing pressure from investors, have been cutting back on spending to ...

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