John Young News
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Pain Therapeutics Inc. and Durect Corp., partners with Pfizer Inc. on the medicine Remoxy, increased in New York trading after the world’s biggest drugmaker highlighted the experimental painkiller’s future on a conference call.
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Jefferson County, Alabama, and its creditors meet Nov. 21 for the first fight of the biggest U.S. municipal bankruptcy -- whether John S. Young Jr., the sewer system’s court-appointed receiver, should go home to New Jersey.
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Energy Future Holdings Corp.’s directors and chief executive officer were sued by hedge fund Aurelius Capital Management over claims that loans made within the power producer harmed creditors.
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The chief executive officer of Energy Future Holdings Corp.’s Oncor utility received $20 million last year, nearly three times the compensation paid to parent company CEO John Young.
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The Australian government plans to make the approval process for coal-seam gas and coal mining projects more stringent to ensure protection of water resources.
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The following is a selection of the most important news affecting the oil market.
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Owners of Jefferson County, Alabama, sewer debt may offer to match or reduce three years of 8 percent annual sewer-fee increases in a county plan to restructure its bonds, said the court-appointed receiver managing the system.
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Chevron Corp., the second-largest U.S. energy company, agreed to pay as much as $349 million to join Beach Energy Ltd. in an Australian natural gas exploration campaign in its first shale investment in the country.
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Call it sewer fatigue.
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Jefferson County received a restructuring proposal from creditors holding about $3 billion of its debt, according to a court-appointed receiver.
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