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Man indicted in $7.9M oil, gas fraud case in Kansas

idea of punishment for financial fraud, an employee of Whiting petroleum was recently charged with racketing and fraud charges

WICHITA, Kan. (AP) — A Hillsboro man has been indicted in connection to what prosecutors say was a $7.9 million oil and gas scheme. Acting U.S. Attorney Tom Beall said in a news release that 70-year-old David Lawson was indicted on one count of wire fraud Tuesday. Prosecutors say that while Lawson was the owner and director of Sonstone Trading ...

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Seafood company, lawyers must return $1 million in spill money

oil, spill, Seafood company

NEW ORLEANS (AP) — A federal judge has ordered the return of more than $1 million in settlement money granted to a seafood company after the 2010 Gulf of Mexico oil spill. U.S. District Judge Carl Barbier (BAHR’-bee-aye) ruled Tuesday that Crystal Seafood Company defrauded administrators of a BP settlement fund by claiming to be an ongoing Port-Arthur, Texas-based business ...

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Judge: Substantial progress in Volkswagen emissions talks

Volkswagen

SAN FRANCISCO (AP) — Volkswagen and attorneys for vehicle owners affected by the company’s emissions cheating scandal are on target to meet a June deadline for a final settlement proposal, a federal judge said Tuesday. Senior U.S. District Court Judge Charles Breyer said the parties have made substantial progress in reaching a deal for nearly half a million polluting Volkswagens ...

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Buffett’s company keeps adding to its Phillips 66 investment

Warren Buffett, Phillips 66

OMAHA, Neb. (AP) — Warren Buffett’s company now owns nearly 15 percent of Phillips 66 after buying 642,841 shares of the oil refiner over the past week. Berkshire Hathaway Inc. disclosed the recent purchases in documents filed with the Securities and Exchange Commission on Monday. Berkshire now owns nearly 76.4 million Phillips 66 shares. Berkshire revealed owning over 10 percent ...

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US stocks jump as rising interest rates help banks higher

stocks

NEW YORK (AP) — U.S. stocks are jumping Tuesday morning as rising interest rates give bank stocks a lift. Investors are also buying big-name technology companies. European indexes also climbed. KEEPING SCORE: The Dow Jones industrial average rose 187 points, or 1.1 percent, to 17,679 as of 10:05 a.m. Eastern time. The Standard & Poor’s 500 index picked up 21 ...

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Stocks little changed, but crude sheds 39 cents

stocks

NEW YORK (AP) — Stocks were little changed in early trading Monday, as investors sat on the sidelines waiting to see where the Federal Reserve might move interest rates next month. Energy stocks fell along with the price of crude oil. KEEPING SCORE: The Dow Jones industrial average rose 13 points, or 0.1 percent, to 17,514 as of 10:09 a.m. ...

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Group that helped sell Iran nuclear deal also funded media

WASHINGTON (AP) — A group the White House recently identified as a key surrogate in selling the Iran nuclear deal gave National Public Radio $100,000 last year to help it report on the pact and related issues, according to the group’s annual report. It also funded reporters and partnerships with other news outlets. The Ploughshares Fund’s mission is to “build ...

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New Hampshire a big step closer to getting $236M from Exxon

New Hampshire

CONCORD, N.H. (AP) — New Hampshire is a big step closer to getting a $236 million judgment after the U.S. Supreme Court said this week it wouldn’t hear Exxon Mobil’s appeal regarding its use of a gasoline additive that contaminated groundwater in the state. The case involved MTBE, or methyl tertiary butyl ether, a petroleum-based gasoline additive that has been ...

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Stocks close higher, led by health care and tech companies

stocks, wall street

NEW YORK (AP) — Stocks rose on Friday in a modest, but broad rally that erased much of the losses from earlier in the week when investors had sold over fears of rising interest rates. Health care and technology stocks rose the most, helping to nudge the Standard and Poor’s 500 index back to slight gains for the week and ...

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Stocks move higher, led by technology and banks

stocks, wall street

NEW YORK (AP) — Stocks are climbing in morning trading Friday as investors respond to encouraging corporate news and dealmaking. The gains were broad. Eight of the 10 sectors of the Standard and Poor’s 500 index rose, led by banks and technology companies. KEEPING SCORE: The Dow Jones industrial average rose 112 points, or 0.6 percent, to 17,547 at 11:11 ...

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