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ArcelorMittal Widens Steel Production Cuts in Europe to Manage ‘Weak’ Demand

ArcelorMittal Widens Steel Production Cuts in Europe to Manage ‘Weak’ Demand

ArcelorMittal (MT, MT.AS), the world’s biggest steel and mining group, said early Wednesday that it was widening planned production cuts to France and Germany, blaming a “weak” demand environment amid “high” levels of import in Europe. The company will now also reduce primary steelmaking production at its facilities in Dunkirk, France and Eisenhuttenstadt in Germany as part of a decision […]

Texas Pacific Land Trust Investor Group Accuses Trustees of Breaching Fiduciary Duties

Texas Pacific Land Trust Investor Group Accuses Trustees of Breaching Fiduciary Duties

A group of dissident Texas Pacific Land Trust (TPL) shareholders said Tuesday they have filed counter-claims against two incumbent trustees of the company, David Barry and John Norris, accusing them of “rampant misconduct” and of disparaging the election of their nominee, Eric Oliver, as a trustee. The investor group, which includes SoftVest, L.P., Horizon Kinetics LLC and ART-FGT Family Partners, […]

Devon Energy to Sell Canadian Business for $2.79 Billion

Devon Energy to Sell Canadian Business for $2.79 Billion

Devon Energy (DVN) signed a definitive deal to sell its Canadian business, housed under its Devon Canada unit, to Canadian Natural Resources (CNQ) for CAD3.78 billion ($2.79 billion), the companies said in separate statements issued early Wednesday. The Devon Canada assets have a total production capacity of 128,300 barrels of oil per day and aggregate proved reserves of 730 million […]