Archives for 2016
Weatherford to pay $140 million fine to settle allegations of accounting fraud
The SEC alleged that Weatherford fraudulently lowered its income tax provisions by $100 million to $154 million each year to better match its earlier projections and analysts’ expectations. The fraud created the false perception that...
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Texas AG: Obama’s clean power plan will “raise rates and reduce liability”
Texas Attorney General Ken Paxton warned Monday that the Obama administration’s new rules reducing carbon emissions from power plants would hurt the Texas grid. “This rule will inevitably raise rates and reduce liability for everyone,”...
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Westmoreland Coal to cut 250 jobs, close Texas mine
Westmoreland informed the Texas Workforce Commission in a letter released Monday that it will cut the roughly 250 jobs in December and January. The 31-year-old mine for decades serviced NRG’s Limestone coal plant in Jewett,...
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TransCanada plans to absorb Columbia Pipeline Partners for $850 million
The offer isn’t surprising considering that TransCanada bought the Columbia Pipeline Group parent company for more than $10 billion earlier this year. Columbia Pipeline Partners is a master limited partnership that went public in early...
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Market Currents: More problems for Nigerian oil production
As OPEC members finally (finally!) gather in Algiers, market movement is set to be dictated by every word, facial expression and gesticulation – the like of which has not been seen since Janet Yellen in...
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