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Marathon creates top U.S. refiner with $23 bln Andeavor deal

April 30, 2018 admin Comments Off on Marathon creates top U.S. refiner with $23 bln Andeavor deal

Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion, forming a company that would leapfrog Valero Energy Corp as the largest independent U.S. refiner by capacity. Shale oil fields have pushed U.S. crude production to record highs and industry experts argue operations that have capacity to refine light crude like Andeavor will be better positioned to take advantage of the boom. Andeavor also runs refineries in Alaska, California, Minnesota, New Mexico, North Dakota, Texas, Utah and Washington which should complement Marathon’s …read more […]

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Oil slips on rising U.S. rig count; Iran concerns limit downside

April 30, 2018 admin Comments Off on Oil slips on rising U.S. rig count; Iran concerns limit downside

Oil prices dipped on Monday after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and remained set for a second straight month of gains. Oil prices were supported by supply concerns amid prospects that the United States could reimpose sanctions on Iran, while OPEC-led producers continue to withhold output. U.S. West Texas Intermediate (WTI) crude futures (CLc1) were at $67.82 a barrel, down 28 cents, or about 0.4 percent, from their last settlement. …read more […]

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In Trump era, the death of the White House press conference

April 30, 2018 admin Comments Off on In Trump era, the death of the White House press conference

The presidential news conference, a time-honored tradition going back generations, appears to be no longer. More than a year has passed since President Donald Trump held the only solo news conference of his administration — a rollicking, hastily arranged, 77-minute free-for-all during which he railed against the media, defended his fired national security adviser and insisted nobody who advised his campaign had had contacts with Russia. Instead, the president engages the press in more informal settings that aides say offer reporters far more access, more often, than past administrations. …read more […]

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Microsoft Ventures gives itself a new name as it reintroduces itself to enterprise startups — here's how it landed on 'M12' (MSFT)

April 30, 2018 admin Comments Off on Microsoft Ventures gives itself a new name as it reintroduces itself to enterprise startups — here's how it landed on 'M12' (MSFT)

The reason for the change: There was some confusion between a previous iteration of Microsoft Ventures and the current one. Microsoft sought a new name to make a clean break between old and new. From this day forth, Microsoft Ventures — the two-year-old venture capital arm of the $710 billion tech titan — will be known by the much shorter name of M12. …read more […]

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China’s Baidu to sell majority of financial services unit for $1.9 billion

April 30, 2018 admin Comments Off on China’s Baidu to sell majority of financial services unit for $1.9 billion

The investment will give Baidu the heft it needs to narrow the lead that rivals Alibaba Group Holding Ltd and Tencent Holdings Ltd have taken in financial services, and help Baidu’s push to seek revenue streams outside its core internet search business. The deal comes at a time when China’s government is tightening regulations on the loans market to rein in shadow banking and push banks to cut bad debt. …read more […]