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Crude, energy stocks fall again

wall street, financial markets, oil price

U.S. stocks indexes headed sharply lower in afternoon trading Monday as investors grappled with the fallout of Britain’s vote to leave the European Union. European stock markets extended their losses from Friday. The British pound, which last week plunged to its lowest level since 1985, continued to fall as traders expected the British economy would take a hit. On Wall ...

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SEC: Texas CEO used funds on strip clubs, private jets

HOUSTON (AP) — A Texas energy company CEO dubbed the “frack master” is being accused by regulators of defrauding investors of about $80 million, including spending at least $30 million on private jets, gentlemen’s clubs, and personal escorts to “maintain a lifestyle of decadence and debauchery.” In a lawsuit filed Friday in federal court in Dallas, the Securities and Exchange ...

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Murray Energy strikes 5-year agreement with coal miner union

ST. CLAIRSVILLE, Ohio (AP) — America’s largest coal-mining company says it’s reached a tentative labor agreement with unionized miners. Murray American Energy announced Friday a 5-year pact struck between the United Mine Workers of America and the Bituminous Coal Operators Association, representing mine operators in Ohio and West Virginia. The union plans a membership vote next week on the contract, ...

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Stocks crash as UK vote to quit EU shocks investors

Brexit, stocks crash, Britain

LONDON (AP) — Stock markets crashed, oil prices tumbled and the pound fell to a 31-year low on Friday as Britain’s unprecedented vote to leave the European Union shocked investors and dragged the region, the world’s largest economic bloc, into a new era of uncertainty. Investors rushed to dump European shares as soon as markets opened, following earlier drops in ...

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White House says coal royalty hike would have modest effect

BILLINGS, Mont. (AP) — A White House report says a sharp hike in royalty rates for companies that mine coal from federal lands across the West would trigger only modest reductions in U.S. coal production. The report comes after the Obama administration halted new sales of federal coal leases while officials determine if longstanding royalty rates shortchange taxpayers. The White ...

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US industrial output fell in May; auto production plummeted

industrial output

WASHINGTON (AP) — Falling auto production fueled a broader decline in U.S. industrial output in May, a potentially worrying sign that manufacturers face economic challenges. The Federal Reserve said Wednesday that industrial output — which includes factories, mines and utilities — dropped 0.4 percent from April. The decline reversed the 0.6 percent gain seen between April and March, an improvement ...

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