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Shell to cut more costs as a result of merger with BG Group

LONDON (AP) — Energy company Royal Dutch Shell will cut more costs, more quickly than previously planned, as a result of its merger with BG Group Plc this year. The Anglo Dutch company made the announcement Tuesday as it tried to assure investors that it could handle the debt that came with its $54 billion takeover. Critics have questioned the ...

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Shell commits to western Pennsylvania ethane cracker plant

MONACA, Pa. (AP) — Shell Chemical Appalachia says it is building a petrochemical plant in northwestern Pennsylvania that will create up to 6,000 construction jobs and 600 permanent jobs once it begins production early next decade. The company has been buying various rights and property, including a former zinc smelting site in Potter Township, Beaver County, where the plant will ...

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US stocks climb, led by energy companies as oil prices rise

NEW YORK (AP) — U.S. stocks are solidly higher Monday morning as energy companies rise along with the price of oil. Fertilizer companies are also gaining ground, but retailers are slumping. KEEPING SCORE: The Dow Jones industrial average gained 91 points, or 0.5 percent, to 17,897 as of 10:05 a.m. Eastern time. The Standard & Poor’s 500 index rose 8 ...

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Deadline looms for Hawaiian Electric merger with NextEra

HONOLULU (AP) — A deadline is looming in Hawaii over a proposal for Florida-based company NextEra to buy the state’s main utility, in a deal that questions the state’s ability to attract investment and to meet its aggressive renewable energy goals. NextEra has proposed to buy Hawaiian Electric for $4.3 billion, and the sale was approved by Hawaiian Electric’s shareholders ...

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US home prices rise in March as spring buying season begins

WASHINGTON (AP) — U.S. home prices kept climbing in March as the spring home buying season began, but so far the higher costs haven’t thwarted sales. The Standard & Poor’s/Case-Shiller 20-city home price index increased 5.4 percent in March compared with a year earlier, according to a report released Tuesday. That is the same annual gain as in February. Solid ...

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US services firms grew at slowest pace since February 2014

WASHINGTON (AP) — U.S. services firms grew at the slowest pace in more than two years last month. The Institute for Supply Management said Friday that its services index fell to 52.9 last month from April’s 55.7. It was the lowest reading since February 2014. Anything above 50 signals growth. A measure of employment in services fell last month for ...

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US stocks, dollar slide after weak jobs report

stocks

U.S. stocks moved lower in early trading Friday after a key government jobs report showed hiring slowed in May, a sign of economic weakness that could dissuade the Federal Reserve from raising interest rates this month. The dollar fell sharply against most major currencies, while bond prices surged as investors sought safety in U.S. government-backed debt. Financial and consumer stocks ...

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US factory orders up 1.9 percent in April, best in 6 months

factory orders

WASHINGTON (AP) — Orders to U.S. factories increased by the largest amount in six months but much of the strength came from a rise in demand for commercial aircraft. A key category that tracks business investment plans fell. Factory orders increased 1.9 percent in April, the biggest gain since a 2.4 percent rise in October, the Commerce Department reported Friday. ...

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After an early wobble, US stocks close higher

U.S. stocks rebounded from an early slide Thursday, nudging the Standard & Poor’s 500 index and Nasdaq composite to their highest close of the year. Health care companies led the comeback. Energy stocks declined the most following a meeting of OPEC ministers that ended without an agreement on crude production cuts. A late-afternoon reversal delivered the second gain in two ...

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Energy, utilities lead a slide in stocks; oil prices fall

U.S. stock indexes edged lower in morning trading Thursday, paring some of their early losses. Energy companies were down following a drop in the price of oil after a meeting of OPEC ministers ended without an agreement on crude production cuts. Utilities also fell. KEEPING SCORE: The Dow Jones industrial average fell 20 points, or 0.1 percent, to 17,769 as ...

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