LONDON/NEW YORK (Reuters) - BP will pay $7 billion to Devon Energy for assets that will extend its reach into Brazil and bulk up its position in the Gulf of Mexico, as the world's top oil companies look to acquisitions to refill depleting reserves.
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BP to pay Devon $7 bln for fields
http://feeds.reuters.com/~r/reuters/businessNews/~3/jVW5sNGDXuY/idUSTRE6295AL20100311
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2 Hours, 11 Minutes ago | Comments »
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Jobless claims fall, trade gap narrows on oil
http://feeds.reuters.com/~r/reuters/businessNews/~3/4ZbwEbL1DZA/idUSTRE62A2AH20100311
WASHINGTON (Reuters) - The number of U.S. workers filing new claims for unemployment benefits fell only slightly last week, indicating a sluggish return to jobs growth. The U.S. trade gap shrank as oil imports fell.
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2 Hours, 19 Minutes ago | Comments »
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Citigroup sees return to sustained profitability
http://feeds.reuters.com/~r/reuters/businessNews/~3/Lg5znuYYl0I/idUSTRE62A4GC20100311
NEW YORK (Reuters) - Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.
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2 Hours, 21 Minutes ago | Comments »
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Movie "Avatar" has few fans among mining execs
http://feeds.reuters.com/~r/reuters/businessNews/~3/0S4jPTgIZ9g/idUSTRE62A54Q20100311
NEW YORK (Reuters) - It's enough to make a mining executive grit his teeth or his kids to give him the silent treatment.
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2 Hours, 22 Minutes ago | Comments »
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S&P 500 hits 17-month high as banks lift Wall St
http://feeds.reuters.com/~r/reuters/businessNews/~3/FmWfLWQHxII/idUSTRE62025220100311
NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.
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2 Hours, 29 Minutes ago | Comments »
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Exxon boosts 2010 capital spending to $28 billion
http://feeds.reuters.com/~r/reuters/businessNews/~3/1zZ09gkyyHE/idUSTRE62A2W520100311
NEW YORK (Reuters) - Exxon Mobil Corp will increase capital spending nearly 4 percent this year to $28 billion in part as the largest U.S. oil company seeks to increase its share of the global market for natural gas.
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4 Hours, 13 Minutes ago | Comments »
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Fed seen keeping "extended period" low rate vow
http://feeds.reuters.com/~r/reuters/businessNews/~3/wETgKoc1WBo/idUSTRE62A4OT20100311
WASHINGTON (Reuters) - Lingering U.S. labor market weakness and nagging doubts about the solidity of the economic recovery are expected to keep the Federal Reserve committed to holding borrowing costs very low for a long time at a monetary policy meeting next week.
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4 Hours, 38 Minutes ago | Comments »
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CFTC head scolds Wall Street for resisting reforms
http://feeds.reuters.com/~r/reuters/businessNews/~3/_X1ilPg8_LM/idUSN1121953620100311
BOCA RATON, Florida (Reuters) - The head of the top U.S. futures regulator chided Wall Street on Thursday for resisting calls to make over-the-counter derivatives markets more transparent, arguing major reforms are required after the recent financial crisis.
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7 Hours, 53 Minutes ago | Comments »
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Nasdaq turns positive
http://feeds.reuters.com/~r/reuters/businessNews/~3/FmWfLWQHxII/idUSTRE62025220100311
NEW YORK (Reuters) - The Nasdaq turned positive and the Dow and S&P 500 pared losses on Thursday as big-cap technology shares rose, offsetting worries about money tightening in China.
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7 Hours, 59 Minutes ago | Comments »