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Oil closes near $50 as US stocks claw back half ground lost after “Brexit” vote

oil price, Brexit

U.S. stocks were on track to close sharply higher in late-afternoon trading Wednesday, echoing strong gains in global markets as investor worries about Britain’s vote to leave the European Union eased. Traders also got encouraging data on U.S. consumer spending. Energy companies led the rally as the price of crude oil closed higher. Health care, industrials and financials stocks were ...

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Destination: North Dakota

Bakken tour, CTD

Comprehensive new tour takes travelers off-the-beaten-path throughout the Roughrider State and into oil country Would-be travelers who assume North Dakota is a “drive-through” state may need to think again once tour operator Country Travel DISCOVERIES (CTD) shows them the state’s wonders, including a couple of days in oil country. The Wisconsin-based company specializing in guided tours with a rural emphasis ...

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Maryland’s minimum wage to rise 50 cents to $8.75

ANNAPOLIS, Md. (AP) — Maryland’s minimum wage and the state’s gas tax are going up. Here’s a look at some new laws that take effect Friday: MINIMUM WAGE Maryland’s minimum wage will rise from $8.25 to $8.75. It’s the latest bump scheduled to take effect since lawmakers in 2014 approved increases over several years from $7.25. It is scheduled to ...

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Crude, energy stocks fall again

wall street, financial markets, oil price

U.S. stocks indexes headed sharply lower in afternoon trading Monday as investors grappled with the fallout of Britain’s vote to leave the European Union. European stock markets extended their losses from Friday. The British pound, which last week plunged to its lowest level since 1985, continued to fall as traders expected the British economy would take a hit. On Wall ...

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Apparent conflicts of interest may dog Tesla-SolarCity deal

Elon Musk

SAN FRANCISCO (AP) — It’s a proposal that would unite two companies on shaky financial ground as they plow into relatively new markets. One makes electric cars, the other installs solar panels. There are few obvious synergies. Perhaps even more puzzling are the motives of Elon Musk, a polarizing billionaire who is the chairman and largest shareholder of both companies. ...

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High-stakes battle over oil terminal unfolds in Northwest

SEATTLE (AP) — Two companies proposing to build what would be the nation’s largest oil-by-rail marine terminal along the Columbia River in Washington see it as an opportunity to link domestic crude oil from the Midwest to a West Coast port. Critics, however, see an environmental and safety catastrophe waiting to happen, especially after a train carrying volatile Bakken crude ...

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VW to pay near $10.2B to settle emissions claims

volkswagen, VW

DETROIT (AP) — Volkswagen will spend about $10.2 billion to settle an emissions cheating scandal in the U.S. that has turned into one of the largest cases of corporate deception in the nation’s history. Two people briefed on settlement talks said most of the money would go to compensate 482,000 owners of cars with 2-liter diesel engines that were programmed ...

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SEC: Texas CEO used funds on strip clubs, private jets

Chris Faulkner, ceo breitling energy

HOUSTON (AP) — A Texas energy company CEO dubbed the “frack master” is charged with defrauding investors of about $80 million, including misappropriating at least $30 million for personal expenses, including private jets and gentlemen’s clubs, to “maintain a lifestyle of decadence and debauchery,” according to a lawsuit filed Friday by federal regulators. In its lawsuit, the Securities and Exchange ...

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Stocks crash as UK vote to quit EU shocks investors

Brexit, stocks crash, Britain

LONDON (AP) — Stock markets crashed, oil prices tumbled and the pound fell to a 31-year low on Friday as Britain’s unprecedented vote to leave the European Union shocked investors and dragged the region, the world’s largest economic bloc, into a new era of uncertainty. Investors rushed to dump European shares as soon as markets opened, following earlier drops in ...

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Container shipping giant Maersk names new CEO

Maersk

COPENHAGEN, Denmark (AP) — The world’s largest shipping company, A.P. Moller-Maersk group, has appointed an insider as its new chief executive, sending its shares up more than 9 percent amid hopes he might help turn the company around. The Danish conglomerate, which is also an oil company, said Thursday that Soeren Skou, CEO of the container-shipping division Maersk Line, will ...

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