Chesapeake Energy Shares Rally on Spending Reduction Plans
Investors are cheering the company's plan to stop spending heavily on land and sell $4 billion to $5 billion in assets next year.
Brazil Utility Light Names Paulo Pinto CEO,Renews Seven Directors
Brazilian electric utility Light S/A (LIGT3.BR) said Tuesday that the company's board had renewed the contracts of seven directors and named Paulo Roberto Pinto, the company's director of business development, to take over as chief executive.
U.S. July Deficit $71 Billion, CBO Estimates
The U.S. government will record a budget deficit of $71 billion in July, the Congressional Budget Office estimated on Tuesday, bringing the total shortfall to $975 billion for the first 10 months of fiscal 2012.
Cablevision 2nd-Quarter Profit Falls on Higher Investments
Cablevision Systems Corp.'s (CVC) second-quarter profit fell 28% on higher investment spending and in the absence of a financial contribution from AMC Networks Inc., which Cablevision spun off last year.
Pfizer Settles Foreign Bribery Case for $60M
Pfizer has agreed to pay $60.2 million to settle a bribery probe brought by the U.S. government regarding the drugmaker's use of illegal payments to win business overseas.
Cable Firms Call on Canada to Block BCE-Astral Deal
Three Canadian media companies Tuesday called on the country's antitrust and broadcast regulators to block BCE Inc.'s (BCE) proposed acquisition of pay- and specialty-television services provider Astral Media Inc. (ACM.A.T), arguing the deal would reduce competition and drive up cable prices for
Judge: Peregrine Trustee Can Subpoena Firm's Banks
A federal judge on Tuesday cleared the way for a trustee to seek financial records from banks used by Peregrine Financial Group Inc., as investigators sift the collapsed brokerage's finances.
Gold Ends Lower; Copper Top Gainer, Up 1.5%
Gold futures ended lower Tuesday, under pressure after solid gains in recent sessions and as the dollar recouped some strength.
EIA Increases Price Forecast For Retail Gasoline
The Energy Information Administration increased Tuesday its price forecast for retail gasoline to $3.53 a gallon on average for the year from $3.49 in the agency's July outlook.
Shareholder Expects Chile's Enersis to Change Capital Increase Terms
Chilean pension-fund manager AFP Habitat SA (HABITAT.SN), a minority shareholder in Enersis SA (ENI, ENERSIS.SN), expects the energy holding company to amend the terms of a disputed $8.02 billion capital increase.