• Exxon profit falls by half but production rises

    Yesterday

    NEW YORK (AP) — Exxon Mobil Corp. profit dropped by half in the second quarter on sharply lower oil and gas prices around the world, but the company's oil and gas production, which has been generally declining in recent years, surged. The company posted net income for the second...

  • UPS buying Coyote Logistics for $1.8 billion

    Yesterday

    ATLANTA (AP) — UPS will spend $1.8 billion to acquire Coyote Logistics as it maneuvers for a slice of the burgeoning freight brokerage business. Coyote has helped support UPS in the past during the busy holiday season, the last two of which have caused headaches for the shipping...

  • Judge leaves Katy Perry's bid to buy convent in limbo

    Yesterday

    LOS ANGELES (AP) — Katy Perry's dream of owning a hilltop convent near Hollywood is going to have to wait a while longer. The convent, which Perry has wanted to buy to be her personal residence for several years, is in the middle of a legal fight between a group of elderly nuns and...

  • US paychecks grow at record-slow pace in 2nd quarter

    Yesterday

    WASHINGTON (AP) — U.S. wages and benefits grew in the spring at the slowest pace in 33 years, stark evidence that stronger hiring isn't lifting paychecks much for most Americans. The slowdown also likely reflects a sharp drop-off in bonus and incentive pay for some workers. The...

  • Royal Caribbean profit jumps 34 pct in 2Q; bumps forecast

    Yesterday

    MIAMI (AP) — Royal Caribbean cruised beyond most expectations for its second quarter thanks in part to falling energy prices and it raised its profit guidance for the year. Shares appeared to be heading for an all-time high after jumping 4 percent before the opening bell Friday. For...

  • Berry Plastics buying Avintiv for $2.45 billion

    Yesterday

    NEW YORK (AP) — Berry Plastics Group Inc. is buying Avintiv Inc. for about $2.45 billion. Evansville, Indiana-based Berry Plastics, which makes plastic consumer packaging and engineered materials, is buying the company in a move to broaden its reach. Avintiv, which is based in...

  • Phillips 66 beats 2Q profit forecasts

    Yesterday

    HOUSTON (AP) — Phillips 66 (PSX) on Friday reported second-quarter net income of $1.01 billion. The Houston-based company said it had net income of $1.84 per share. Earnings, adjusted for non-recurring gains, were $1.83 per share. The results beat Wall Street expectations. The...

  • November retrial date expected for former BP engineer

    Yesterday

    NEW ORLEANS (AP) — Attorneys are eyeing a November retrial date for Kurt Mix, the former BP engineer charged with obstructing a federal investigation into the 2010 Gulf of Mexico oil spill. Court papers filed Thursday show attorneys are working toward a Nov. 16 date but may seek to...

  • Scientist: Oil slick likely from natural seafloor seepage

    Yesterday

    LOS ANGELES (AP) — Beaches along the Santa Barbara County coast remained open to swimmers, surfers and sunbathers Friday as the Coast Guard worked to determine whether an oil slick that materialized just offshore this week was simply the result of natural ocean-floor seepage. That's...

  • Q&A: A look at Shell Oil and Arctic offshore drilling

    Yesterday

    A blockade in Portland, Oregon, that included environmental protesters dangling from a bridge unsuccessfully attempted to keep a Royal Dutch Shell icebreaker from leaving for oil drilling in the Arctic. It was the latest standoff between protesters and the company over its plans to...

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