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Reliance Industries posted a 14.14% rise in its fourth-quarter net profit as higher refining margins offset a decline in the company's oil and gas business. But the results were still below expectations.
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PG&E; said its chief executive will retire at the end of the month and it is conducting a search for a successor, a surprise change at a utility rocked by a series of setbacks.
Auto makers are pushing to link federal fuel-economy and emissions targets to the price of gasoline, saying consumers won't pay enough for fuel-efficient cars to make them profitable if gas prices aren't high.
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Amid rising gasoline prices, the Obama administration's top law-enforcement official said a new task force would crack down on fraud in oil and gas markets.
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Former Amaranth trader Brian Hunter, a natural-gas trader who gained notoriety for causing the collapse of hedge fund Amaranth Advisors, was fined $30 million for his "intent" to manipulate prices.
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