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Energy Stocks: Energy stocks turn lower, track broader market

scgadmin — Thu, 23 May 2013 07:57:16 +0000

Energy stocks lose steam, ending lower alongside the broader U.S. equity market as Federal Reserve Chairman Ben Bernanke says Fed bond-buying could be about to taper off.

Brett Arends’s ROI: The real Apple tax scandal

scgadmin — Thu, 23 May 2013 07:57:15 +0000

Instead of blasting Tim Cook, senators should scrap the corporate tax, writes Brett Arends.

Apple’s Cook to defend tax practices, press for reforms at hearing

scgadmin — Tue, 21 May 2013 07:36:57 +0000

Apple’s Tim Cook will make his debut testifying before Congress on Tuesday, when the chief executive is expected to press lawmakers to simplify corporate taxes as well as explain the company’s tax practices.

‘Oracle of Boston’ Seth Klarman adds to BP position

scgadmin — Sat, 18 May 2013 06:32:34 +0000

Hedge fund manager Seth Klarman, of the The Baupost Group, has added to his already significant stake in BP PLC.BP was Baupost’s largest holding at the end of the first quarter, according to regulatory filings and FactSet Research.Klarman’s fund added more than 6 million shares in the January-to-March quarter. It held more than 17 million shares, worth about $730 million, at the end of the period.Barrow, Hanley, Mewhinney & Strauss LLC, based in the Dallas-Fort Worth area, added the most BP shares last quarter, buying nearly 10 million, but BP is not among the fund’s top 20 holdings.Besides BP, Baupost added to positions at AIG , Rovi Corp. , Idenix Pharmaceuticals , and Guyana Goldfields in the first quarter, according to regulatory filings.

‘Housing has legs,’ says top hedge-fund manager Josh Birnbaum

scgadmin — Thu, 09 May 2013 04:31:28 +0000

The housing recovery still has legs, according to Josh Birnbaum, the man who helped Goldman Sachs make $3.7 billionoff of the subprime housing collapse a few years ago.

Karoon finds oil off coast of Brazil; shares soar

scgadmin — Tue, 07 May 2013 04:08:06 +0000

– Karoon, Pacific Rubiales JV finds oil offshore Brazil — Bilby-1 well strikes 200 meter gross oil column — JV has found oil in two out of three wells in Santos Basin (Adds analyst assessment of discovery in fifth paragraph, Karoon executive comments on funding in eleventh paragraph) SYDNEY–Karoon Gas Australia Ltd.

UBS surprises with strong first-quarter

scgadmin — Wed, 01 May 2013 01:58:34 +0000

ZURICH–UBS AG UBS posted a better-than-expected profit Tuesday as Switzerland’s biggest bank pushes through an extended restructuring in the wake of the financial crisis. UBS said its combined wealth management businesses drew in nearly 24 billion Swiss francs ($25.6 billion) of new funds in the first quarter of the year, while its investment bank pretax profit nearly doubled from a year earlier.

Energy Stocks: Energy stocks rise, Halliburton top gainer

scgadmin — Mon, 22 Apr 2013 22:47:37 +0000

Energy stocks gain Monday, with Halliburton leading the way as the oil-field services company says it is close to a resolution in litigation involving Deepwater Horizon disaster

Energy Stocks: Energy stocks rise; Peabody shares rally

scgadmin — Thu, 18 Apr 2013 21:52:23 +0000

Energy stocks gain Thursday, recovering after deep setbacks in recent sessions. Coal miner Peabody Energy Corp. leads the way following a better than expected earnings report.

Diana Furchtgott-Roth: Labor disclosure rule is unfair to business

scgadmin — Wed, 17 Apr 2013 21:40:16 +0000

If firms consult lawyers about tax issues, sex discrimination, whistleblowing, they can do so in private. But if they seek legal advice on unionization issues, the name of their attorneys, and all their attorneys’ other labor-related clients, become public. This is unfair to business, writes Diana Furchtgott-Roth.