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New Fed chief Janet Yellen signals further cuts in stimulus

WASHINGTON — The Federal Reserve’s new leader, Janet L. Yellen, signaled that the central bank is likely to keep scaling back its signature stimulus program despite a recent string of weak economic data. Making her first congressional appearance since succeeding Ben S. Bernanke this month as Fed chair, Yellen told lawmakers Tuesday that she was surprised by the weak job gains reported for December ...

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UND ramps up oil industry training

Steve Benson

By: John Hageman, Forum News Service UND officials Monday discussed how they’re helping to add skilled workers in rapidly growing oil plays in North Dakota and elsewhere. Speaking to energy industry officials at the first day of the inaugural Bakken/Three Forks Shale Oil Innovation Conference at the Alerus Center, UND officials provided an overview of the fundraising efforts for a new facility ...

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US to further delay Obamacare employer mandate

By: Noam N. Levey – Los Angeles Times WASHINGTON — The Obama administration again delayed a requirement that large employers provide their workers with health benefits, offering businesses more relief from the president’s health law deadlines. Under the law, employers with more than 50 full-time employees must offer affordable health benefits or pay fines, a requirement originally scheduled to go into ...

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From Bitcoin’s notoriety sprouts a new green currency

solar coin

Bitcoin, the contentious online currency, has been grabbing headlines lately, but the idea of spending digital money is still a novel one. Greenwich resident John Dolan hopes it won’t be for too long. Dolan, chair of the SolarCoin Foundation, along with a group of like-minded individuals loosely termed volunteers, is investing time and energy in SolarCoin, a virtual currency that ...

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Issue of oil exports is a bipartisan puzzle

WASHINGTON — Both Republicans and Democrats are struggling in a new debate over whether to sell more U.S. crude overseas, as even some traditional oil industry allies on Capitol Hill wonder whether exports would raise domestic gasoline prices. House Republicans are divided on the issue, said Rep. John Shimkus, R-Ill. “Crude oil is a basic commodity product. There’s an argument ...

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Chesapeake cuts 2014 spending by 20 percent

(Reuters) – Chesapeake Energy Corp <CHK.N> said its capital expenditure for the year would fall about 20 percent as part of CEO Doug Lawler’s plan to focus on drilling in U.S. shale basins that offer the best returns such as the Eagle Ford field in south Texas. The Oklahoma City-based company said it would spend between $5.2 billion and $5.6 ...

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Three companies fined for improperly classifying Bakken crude oil

railcars

By:  Amy Dalrymple, Forum News Service, INFORUM WILLISTON, N.D. – Notices sent to three oil companies operating in North Dakota cite 17 shipments of Bakken crude that investigators say were not properly classified under federal law. Spokesmen for the companies facing potential fines totaling $93,000 – Hess Corp., Marathon Oil Co. and Whiting Oil and Gas Corp. – all said Wednesday ...

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US oil rises, gains capped by China, US data

us china

Tue Feb 4, 2014 1:23pm EST By Jeanine Prezioso and Elizabeth Dilts NEW YORK, Feb 4 (Reuters) – U.S. crude oil rose by more than $1 per barrel on Tuesday, reversing the previous session’s losses, as traders expected data to show oil inventories were beginning to drain in earnest from the benchmark’s delivery point at Cushing, Oklahoma, after the start-up ...

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