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Stocks lower in morning after sizable gains the day before

stocks

NEW YORK (AP) — Stocks are mostly falling Tuesday morning as investors sift through new economic reports and earnings results. Utilities, consumer goods companies and banks fell the most after the market made sizable gains the day before. Wal-Mart Stores and JPMorgan Chase each dropped 1 percent, among the biggest declines in the Dow Jones industrial average. KEEPING SCORE: The ...

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US industrial production jumps by most since November 2014

Industrial production

WASHINGTON (AP) — U.S. industrial production in April posted the biggest increase since November 2014 as utility output surged, the Federal Reserve said Tuesday. Industrial output — which includes factories, mines and utilities — rose 0.7 percent from March. It had dropped the previous two months. Fueling the improvement was utility production, which surged 5.8 percent in April. It was ...

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NY utility workers want deterrent from attacks

ALBANY, N.Y. (AP) — Utilities and their labor unions are asking New York lawmakers to make it a felony when anyone attacks utility workers. They say the legislation is necessary as a deterrent particularly for those in the field restoring lost power, who are at high risk of violence. Advocates say similar laws have been enacted in New Jersey, Massachusetts ...

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US stocks climb in broad rally as crude oil rises

NEW YORK (AP) — A jump in oil prices and some deal news helped send stocks up broadly Monday, breaking a three-day losing streak. Investors bought from the start of trading, pushing oil drillers and other energy stocks up sharply. A bullish oil report from Goldman Sachs helped send benchmark U.S. crude up 3.3 percent to its highest close in ...

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SandRidge Energy files for bankruptcy with $4.1B in debt

Oklahoma City, Sandridge Energy

OKLAHOMA CITY (AP) — SandRidge Energy filed for bankruptcy protection Monday, saying it hopes to convert $3.7 billion of long-term debt into equity while allowing the company to keep its operations going. The Oklahoma City-based company filed the Chapter 11 paperwork in the U.S. Bankruptcy Court for the Southern District of Texas. The petroleum and natural gas exploration company said ...

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Aruba, Citgo negotiate deal to reopen shuttered oil refinery

Aruba, oil refinery, Citgo

SAN JUAN, Puerto Rico (AP) — The Aruban government and Venezuela’s Citgo Petroleum Corp. are finalizing an agreement to reopen an oil refinery that has been shuttered since 2009. Aruban Energy Minister Mike de Mesa says the accord calls for the rehabilitation of the facility and provides the U.S.-based subsidiary of Venezuelan state oil company PDVSA with a 15-year operational ...

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Moody’s downgrades Saudi Arabia on lower oil prices

Saudi Arabia, oil prices

NEW YORK (AP) — Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices. Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world’s largest oil exporter. Moody’s cut ...

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Williams sues to maintain sale to Energy Transfer Equity

DALLAS (AP) — Williams Cos. has gone to court to pressure rival pipeline company Energy Transfer Equity to go through with the planned $32.6 billion purchase of Williams. In a lawsuit filed in state court in Delaware, Williams suggested that Energy Transfer is trying to get out of the deal. Energy Transfer’s spokeswoman did not immediately return phone and email ...

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