INDEX › DJ 30 INDUSTRIALS (INDEX:DJI)
15752.48 +13.05 (+0.08%)
2013-12-13 11:51:39, 0 min delay
|52wk High Date||2013-11-29|
|52wk Low Date||2012-12-31|
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A U.S. bankruptcy court judge says Anadarko Petroleum may be liable for between $5 billion and more than $14 billion in a legal battle over the 2005 spinoff of Tronox. Tronox is a paint materials company that was spun off by Kerr-McGee Corp. Anadarko Petroleum Corp. then purchased Kerr-McGee. Tronox has said Kerr-McGee stripped it of its most valuable assets before the spinoff. Tronox Ltd. filed for Chapter 11 bankruptcy protection in 2009 and emerged about two years later.
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DETROIT (AP) — General Motors Co. got about $343 million for its 7 percent stake in French automaker PSA Peugeot Citroen. The Detroit company on Friday said that it completed the private placement sale of 24.8 million PSA shares for 250 million euros. GM bought the PSA stake in March 2012 for $402 million when the companies announced a car-building and purchasing alliance. That means the company will lose about $59 million on the deal.
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BEIJING (AP) — Chinese leaders warned Friday that the world's second-largest economy faces "downward pressure" and called for boldness in carrying out promised reforms aimed at reviving slowing growth. There was no immediate word on whether the meeting set a growth target for next year. Investors and analysts were watching to see whether the party would cut its target from this year's 7.5 percent.
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WASHINGTON (AP) — The Senate has confirmed President Barack Obama's pick to serve as Secretary of the Air Force, continuing a series of round-the-clock confirmation votes. James is president of the Technical and Engineering Sector at Science Applications International Corp., a major federal government contractor.