Oil prices plunged again on Wednesday by more than 5 percent as investors paid more attention to signs that global stockpiles are growing than to increasing instability in the Middle East and North Africa. [The NY Times] The New York Stock Exchange announced Wednesday afternoon it would begin proceedings to delist Oklahoma City-based SandRidge Energy,… Keep reading →
Duke Energy Corp. has agreed to pay shareholders about $146 million in settlements following allegations that it failed to disclose details of its 2012 merger with Progress Energy Inc. “The lawsuit accused Duke and several directors and executives of planning in secret to overthrow Progress Chief Executive Bill Johnson as head of the new company.… Keep reading →
Jamie Dimon says the US economy is holding a “royal straight flush.” The JPMorgan Chase CEO, speaking this week at a New York Stock Exchange event marking the launch of the latest Fortune 500 list, detailed what he says is the country’s strong hand: the world’s strongest military, best businesses, most entrepreneurial workforce and deepest capital markets. Dimon is one of the most high-profile executives on Wall Street — and has been the target of popular anger in the aftermath of the financial crisis and Washington bailouts of Wall Street. He says it rolls off his back. But he has less tolerance for attacks on big business. “It denigrates some of the best things in America, and it hurts business and consumer confidence,” he said.
