Star Gas Suspends Payout to Unit Holders
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Star Gas Partners LP said Monday that a &quot;substantial decline&quot; in earnings at its heating oil division would force it to cease distributions on its common partnership units and could result in the company seeking bankruptcy protection.
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NEW YORK (CBS.MW) -- Shares of Star Gas Partners LP plunged Monday after the company warned that a substantial decline in heating-oil earnings due to record crude prices would put it out of compliance with the terms of its working-capital credit line.
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SEOUL, South Korea, Nov. 23 Â Lone Star Funds, the private equity firm based in Dallas, canceled an agreement to sell its controlling stake in Korea Exchange Bank to Kookmin Bank, South KoreaÂs biggest lender, citing Âpolitically motivatedÂ prosecutors who have been investigating the deal.
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The banana king suspends its dividend payment in the face of a tough industry climate.
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TORONTO (CP) - Non-energy income trusts are disappointing investors, with two more cutting or suspending their cash distributions to unitholders this week and causing the value of their units to plummet.
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Russia on Thursday suspended for two months 12 water-use licenses held by a subcontractor for Royal Dutch Shell's $22 billion Sakhalin- 2 oil and natural gas venture, increasing pressure on the foreign investors to cede some control of the project.
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MOSCOW  - Embattled oil giant Yukos' shipments to China have been suspended until at least Oct. 20, company and government officials confirmed Thursday.
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Russia's Yukos oil company is suspending oil exports to the Chinese National Petroleum Corp. because it cannot afford to pay transport expenses, a news agency reported Sunday.
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Automotive parts maker and petrol and LPG distributor Ion Ltd was suspended from trading on the Australian Stock Exchange and had an administrator appointed after bankers withdrew support for the company.
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Scottish Equitable delays investors wanting to get money out of its property fund after a market downturn.
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BHP Billiton shareholders are about to be rewarded directly from the torrents of cash coursing through the giant resources group. Perversely, that may make some of them quite unhappy.
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ENERGY group National Grid Transco is to give shareholders a Â£2bn windfall after announcing the sale of four of its gas distribution networks today.
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Prices were pushed higher by news on Sunday that Yukos had suspended delivery of 400,000 metric tons a month, or nearly 98,000 barrels a day, of rail-borne crude oil exports to China National Petroleum Co.
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Moscow. (Interfax) - A decision from a syndicate of Western banks to provide a credit to Russian gas giant Gazprom will depend on whether a Houston court upholds a request by Yukos for a preliminary injunction to halt the planned sale of Yuganskneftegaz.
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Securities regulators are planning sanctions soon against a company that recently stopped selling high-fee mutual funds to military officers, people familiar with the situation said Friday. Some big fund companies say they may reconsider the so-called contractual plan funds.
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MOSCOW  - A Western bank consortium led by Deutsche Bank has frozen a planned credit line to Gazprom, Russia's state-controlled natural gas giant, following a U.S. bankruptcy court injunction against the sale of the Yukos oil company's main production subsidiary, the ITAR-Tass news agency reported Friday.
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Computer maker Dell Inc.  said  on Monday it has suspended share repurchases and is delaying  the filing of its latest quarterly report with regulators amid  an expanded government accounting probe.