Hamm completes return of Continental Resources to private ownership
Billionaire Harold Hamm’s takeover of Continental...
Billionaire Harold Hamm’s takeover of Continental Resources, Inc. and return to private ownership is for all practical purposes complete.
The Oklahoma City company he founded in the 1960s announced Tuesday it was initiating the final steps in closing its previously announced merger with Omega Acquisition, Inc. Omega is the company created by Hamm and his family to launch the takeover that was started last June.
The announcement stated that shares of Continental common stock are expected to cease trading on the New York Stock Exchange prior to the market open on Wednesday, Nov. 23, and will no longer be listed for trading on the exchange.
A professional baker compares pumpkin pies from four grocery stores. Molly Allen knows...
A professional baker compares pumpkin pies from four grocery stores. Molly Allen knows how to make a solid pumpkin pie — but sometimes grabbing one from a local store is the best option. So she compared pies from Safeway, Costco, Kroger, and Walmart. Safeway's was her favorite, because of its well-balanced taste and good structure. Read all her reviews here.
US Mortgage Rates Plunge for a Second Week, Hit Two-Month Low
US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of...
US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market.
The contract rate on a 30-year fixed mortgage decreased 23 basis points to 6.67% in the week ended Nov. 18, according to Mortgage Bankers Association data released Wednesday.
Wu Chen, 45, was arrested in Miami, Florida, just before 4 p.m. when a license plate reader flagged the vehicle he was driving, the Oklahoma State Bureau of Investigation said in a statement.
Chen was apprehended without incident and is awaiting extradition to Oklahoma, where he is expected to face charges of murder and shooting with intent to kill, the agency said.
U.S. durable-goods orders rose 1% in October, 0.7% at core
The numbers: Orders at American factories for long-lasting goods such as autos and...
The numbers: Orders at American factories for long-lasting goods such as autos and computers jumped 1% in October, marking a strong showing that probably isn’t sustainable because of a slowing U.S. economy.
Economists polled by the Wall Street Journal had forecast a 0.5% increase. Durable goods are items such as autos, appliances and computers meant to last at least three years.
Big picture: Manufacturers are able to produce more of what their customers want after two years of chronic shortages, but mostly because demand has softened. Rising U.S. interest rates have curbed sales at home while a strong dollar has dented exports.
The situation could get worse. The Federal Reserve is jacking up interest rates to bring down high inflation, but higher borrowing costs are expected to slow the economy even further.
