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Chesapeake names Anadarko executive as new CEO
Chesapeake Energy has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO. The appointment of the 46-year-old Lawler comes after a tough year during which Chesapeake's board ousted its founder and the company worked to shore up its finances. The new CEO takes over as Chesapeake continues selling ...
UAE construction giant faces rare labor strike
United Arab Emirates-based construction company Arabtec says it's working to resolve a rare strike by laborers seeking higher wages. Labor protests are uncommon across the Gulf Arab states, which depend on workers mostly from South Asia for vital construction jobs. Entire teams of workers are often housed in crowded labor ...
US futures subdued as investors take stock
U.S. stock futures are relatively flat as investors take a breather and some analysts wonder how long the bull-market run can last. Dow Jones industrial average futures are down 7 points to 15,308. The broader S&P 500 is down less than a point at 1,662.3. Nasdaq futures are down 2.75 ...
Oil price falls below $96 a barrel
The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief. Benchmark crude for June delivery was down 55 cents to $95.47 a barrel in electronic trading ...
Economists predict increase in consumer spending
Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists. The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. But ...
Raw: Accused US Spy Reportedly Leaves Russia
Russian TV aired video of the US Embassy employee accused of spying, leaving Russia. Russian television had video of Ryan Fogle at a Moscow airport. The US Embassy in Moscow has refused to comment on the case. (May 20)
China sentences underground bank operator to death
A businesswoman in southern China has been sentenced to death on charges of defrauding investors as the government tightens controls on informal financing that is widely used by entrepreneurs. Lin Haiyan was convicted of "illegal fundraising" for collecting 640 million yuan ($100 million) from investors by promising high returns and ...
'Trek' does $70.6M but falls short of studio hopes
"Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations. The latest voyage of the starship Enterprise fell short of its predecessor, 2009's "Star Trek," which ...
US gas prices up 11 cents over past 2 weeks
The average U.S. price of a gallon of gasoline has jumped 11 cents over the past two weeks. The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.66. Midgrade costs an average of $3.84 a gallon, and premium is $3.98. Diesel held ...
Consumer group flags high SPF ratings on sunscreen
Sunbathers headed to the beach this summer will find new sunscreen labels on store shelves that are designed to make the products more effective and easier to use. But despite those long-awaited changes, many sunscreens continue to carry SPF ratings that some experts consider misleading and potentially dangerous, according to ...
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