U.S. natural gas prices, pushed to a record high after hurricanes Katrina and Rita barreled through the Gulf of Mexico eight years ago, are now more vulnerable to winter freezes than tropical storms after production moved onshore with the growth of drilling in shale formations.
As Anadarko Petroleum Corp. Chairman Jim Hackett steps down and heads off to Harvard Divinity School, Chief Executive Officer Al Walker’s biggest challenge is convincing investors nothing will change at the $45 billion global oil explorer.
After the biggest Atlantic storm on record struck the New Jersey shore last October, Seaside Heights Mayor William Akers was asked repeatedly if the town would rebuild in time to welcome summer tourists. “Oh, no problem,” he’d reply.
Almost six years after the start of the worst financial crisis since the Great Depression, bond issuers are again exploiting credit ratings by seeking firms that will provide high grades on debt backed by assets from auto loans to office buildings considered inappropriate by rivals.
Almost five years after Lehman Brothers Holding Inc. filed for bankruptcy and set off the global financial crisis, managers of the bank’s estate are demanding millions of dollars from retirement homes, colleges and hospitals.
The U.S. Supreme Court bolstered Monsanto Co.’s ability to control the use of its genetically modified seeds, ruling that companies can block efforts to circumvent patents on self-replicating technologies.