Platinum Partners arrests are scant consolation for alleged victims
NEW YORK (Reuters) – When six executives of Platinum Partners, including founder Mark Nordlicht, were arrested on Monday on federal charges of running a more than $1 billion hedge fund fraud, people who had long alleged they were harmed by the New York…
Chinese firms face competition to maintain role in developing Iranian oilfields
DUBAI (Reuters) – Iran plans to ask international oil companies to bid for the second phase of development of its Yadavaran and North Azadegan oilfields, a senior official said on Saturday.
Russia’s Rosneft says has flexibility on oil output levels
MOSCOW (Reuters) – Rosneft’s plans for next year allow it to be flexible with production volumes, Russia’s top oil producer said on Saturday, after Moscow clinched a deal with OPEC to cut production to bolster weak oil prices.
Lockheed CEO tells Trump she will work to drive down cost of F-35
(Reuters) – The chief executive of Lockheed Martin Corp told President-elect Donald Trump on Friday that she was committed to driving down the cost of the company’s F-35 fighter jet, a day after Trump took aim at the cost of the F-35 in a Twitter post….
Amazon starts flexing muscle in new space: air cargo
ALLENTOWN, Pa. (Reuters) – A cargo plane emblazoned with “Prime Air” descended from an empty sky at Lehigh Valley International Airport on Tuesday, ninety minutes from the bustle of New York City, loaded with crates of goods during the peak holiday sho…
Halliburton shareholder class action to settle for $100 million
(Reuters) – Halliburton Co on Friday said it had reached a $100 million settlement to resolve a long-running securities fraud class action lawsuit against the oilfield services provider that twice reached the U.S. Supreme Court.
Peabody Energy reorganization plan lacks mine cleanup coverage details
CHICAGO (Reuters) – Peabody Energy Corp failed to explain how it will cover future mine cleanup costs in a reorganization plan filed late Thursday, triggering concerns over the company’s use of “self-bonds.”
Wall St. rises, Dow racks up seventh straight weekly gain
(Reuters) – Wall Street ended the week on a positive note on Friday as investors doubled down on a rally fueled by optimism that President-elect Donald Trump’s policies will boost economic growth.
Caesars unit resolves lender dispute, eyes bankruptcy exit
CHICAGO (Reuters) – Caesars Entertainment Corp’s bankrupt operating unit resolved a dispute with its lenders on Friday, paving the way for a consensual plan to push the casino group out of its $18 billion Chapter 11.
U.S. hits Credit Suisse, Deutsche Bank with toxic debt penalties
ZURICH/FRANKFURT (Reuters) – Credit Suisse and Deutsche Bank have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe’s leading investment banks as they struggle with weak earnin…
