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HOUSTON (AFX) - Federal prosecutors want former Enron Corp. CEO Jeffrey Skilling to turn over nearly $183 million for helping perpetuate one of the biggest business frauds in U.S. history -- his alleged share and that of his late co-defendant, company founder Kenneth Lay. The government had originally split that amount between the two former corporate titans, who were convicted in May of charges  ...

ANCHORAGE, Alaska (AFX) - In the midst of the crisis this week at the Prudhoe Bay oil field, Alaska took an important step forward in bringing a huge supply of natural gas to the nation. After months of wrangling with pipeline backer Gov. Frank Murkowski, Alaska lawmakers late Thursday finally passed what amounts to the biggest tax law rewrite in decades. It's only putting one piece of the puzzl ...

ANCHORAGE, Alaska (AFX) - BP said Friday that the cost to repair and replace leaking pipelines at Prudhoe Bay, the nation's largest oil field, could be about $170 million. Spokesman Neil Chapman said that was an early, rough estimate for the current repairs and for a major oil spill in March. He added that costs could change as the effort continued. The British company has not yet s ...

NEW YORK (AFX) - Should you see rising costs next time you fill up your car with gas, send your thanks to BP, which just shut down one of its largest oil fields. This mess didn't have to happen. BP, whose earnings topped $22 billion last year, has acknowledged slacking off on maintenance of feeder pipelines at the Prudhoe Bay field in Alaska that accounts for 8 percent of U.S. oil output. That c ...

NEW YORK (AFX) - WallStreetWeekAhead Stocks dropped in light summer trading Friday after Apple Computer Inc. said its mishandling of employee stock options will require it to make significant changes in its third-quarter results compared to last year's earnings. The major indexes ended the week with losses. Investors also had broader worries, especially fears of an economic slowdown. A  ...

U.S. stocks closed lower Friday, with both the Dow Jones Industrial Average and the S&P 500 breaking three-week winning streaks, after a session spent trying to diagnose the uncertain health of the economy. Investors Friday took in both retail sales numbers pointing toward strength and a business inventories report suggesting sluggishness. The Dow Jones Industrial Average (DJI) closed do ...

NEW YORK (Dow Jones) - Resort operator Intrawest Corp., which manages some of the biggest ski areas in the United States and Canada, has agreed to be acquired by private equity firm Fortress Investment Group LLC in a deal worth about $2.8 billion including debt assumption, the two companies said Friday. Shares of Intrawest (IDR) skyrocketed 29.3% to $34.20 in morning trading. The deal values ...

ANCHORAGE, Alaska (AFX) - BP said Friday that the cost to repair and replace leaking pipelines at Prudhoe Bay, the nation's largest oil field, could be about $170 million. Spokesman Neil Chapman said that was an early, rough estimate for the current repairs and for a major oil spill in March. He added that costs could change as the effort continued. The British company has not yet said exact ...

NEW YORK (AFX) - Stocks dropped in light summer trading Friday after Apple Computer Inc. said its mishandling of employee stock options will require significant revisions to its most recent quarterly results. Investors had broader worries, especially fears of an economic slowdown. A steep increase in retail sales did little to allay those worries. "We're in a seasonally slow part of the ...

ANCHORAGE, Alaska (AFX) - BP said Friday that the cost to repair and replace leaking pipelines at Prudhoe Bay, the nation's largest oil field, could be about $170 million. Spokesman Neil Chapman said that was an early, rough estimate for the current repairs and for a major oil spill in March. He added that costs could change as the effort continued. The British company has not yet said exactly h ...