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Global stocks, oil edge up as OPEC weighs output deal

MANILA, Philippines (AP) — Global stocks and the price of oil edged higher Thursday as OPEC countries discussed ways to control production and re-assert their influence over energy markets. Investors were also keeping an eye on the European Central Bank for hints on the economic outlook. KEEPING SCORE: Britain’s FTSE 100 was up 0.5 percent to 6,220 and France’s CAC ...

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US stocks eke small gains after listless day of trading

stocks

U.S. stocks perked up after a downbeat start to eke out a small gain Wednesday. Consumer companies were among the big gainers on a day when investors sized up a mixed bag of new data on the U.S. manufacturing, housing and automobile industries. Telecommunications stocks lagged the rest of the market. Investors have been looking for clues in the latest ...

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Survey finds modest economic growth in many regions

economic growth

WASHINGTON (AP) — The Federal Reserve said Wednesday that the economy grew at a modest pace in much of the country from April to mid-May, despite headwinds ranging from slower consumer spending to ongoing weakness in the manufacturing and the energy sectors. The Fed’s latest survey of business conditions found that half of its 12 regions described growth as modest, ...

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Biggest Arizona utility seeks rate boost, solar changes

Arizona, utility

PHOENIX (AP) — Arizona’s largest electric utility on Wednesday said it wants to increase residential rates by about 8 percent and move most customers to a billing plan that charges them more if their power use surges during peak hours. Arizona Public Service Co. also wants to end solar power buyback plans it says don’t fairly cover the costs of ...

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US bank earnings dip 2 percent in 1Q amid low oil prices

low oil prices

WASHINGTON (AP) — The impact of low oil prices has continued to hobble the finances of U.S. banks, which posted increased loan losses in the first quarter driven by a huge jump in delinquent energy loans. U.S. bank earnings dipped 2 percent in the first three months of the year to $39.1 billion from $39.8 billion a year earlier, data ...

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US stocks slide following late slump in oil prices

NEW YORK (AP) — U.S. stock indexes are falling Tuesday afternoon and energy companies are sliding with the price of oil. Makers of household products are trading lower following mixed reports about consumer behavior in the U.S. KEEPING SCORE: The Dow Jones industrial average dropped 101 points, or 0.6 percent, to 17,771 as of 3:34 p.m. Eastern time. The Standard ...

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US stock indexes slip as consumer goods makers fall

NEW YORK (AP) — U.S. stock indexes are mostly lower Tuesday morning. Consumer goods companies are falling despite a report that showed spending by consumers jumped last month by the largest amount in six years. Major U.S. indexes are wrapping up a strong month that has brought them near their highest levels of 2016. KEEPING SCORE: The Dow Jones industrial ...

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Great Plains Energy to purchase Westar Energy

KANSAS CITY, Mo. (AP) — Great Plains Energy plans to buy Westar Energy, the largest utility company in Kansas. Great Plains in the parent company of KCP&L. The two companies announced Tuesday that the transaction has an estimated value of $12.2 billion. Westar Energy will be sold for $51 per share in cash and $9 per share in stock. The ...

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Militants shut down Chevron’s Escravos, onshore in Nigeria

WARRI, Nigeria (AP) — Militants bombed a pipeline feeding electricity to Chevron’s Escravos terminal Thursday, shutting down the U.S.-based oil major’s onshore operations in Nigeria, the attackers and residents said. It was the third assault on a Chevron Nigeria facility this month. It’s the latest in a string of attacks claimed by the Niger Delta Avengers that has brought Nigerian ...

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Hercules Offshore strikes deal with lenders

NEW YORK (AP) — Oilfield services company Hercules Offshore has worked out an agreement with lenders before it seeks Chapter 11 bankruptcy protection, the second time will have done so in less than year. This time, however, the company is selling assets to pay off investors. Hercules transferred the right to acquire the rig, formerly named Hercules Highlander, to a ...

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