The Eleventh Circuit on Thursday partially reversed a decision by the U.S. Tax Court, siding with a Florida resident's argument that $5.75 million he received from assignment of his position in a lawsuit should be treated as capital gains, but rejecting two deductions he claimed totaling more than $800,000.
The U.K.’s infrastructure investment is lagging behind other countries, causing a deficit of at least £60 billion ($94.15 billion) as the door opens for more private sector investment, according to a report from Standard & Poor’s released Monday.
The African Development Bank Group said Thursday that it will inject $133 million into a project being overseen by the government of the Republic of Kenya aiming to increase electricity access across the country, particularly among low-income and rural populations.
Enbridge Income Fund said Thursday it closed on a CA$1.08 billion debt offering ($955 million) that will partly finance an acquisition of natural gas pipeline interests from Canadian energy company affiliate Enbridge Inc., plus refinance existing debt.
Brookfield Renewable Energy Partners LP on Thursday announced it and a group of institutional partners will acquire a 488-megawatt renewable energy portfolio in Brazil from Energisa SA for 2.4 billion reais ($933 million).
Royal Dutch Shell PLC said Thursday that a subsidiary has sold its stake in a Nigerian oil lease to Nigerian firm Newcross Exploration and Production Ltd. for $600 million as the energy giant continues to review its operations in the West African country.
Apache Corp. said Thursday it will rake in $1.4 billion by shedding oil and gas holdings in Texas, Louisiana and Oklahoma, part of its push to sharpen its strategic focus after an activist investor urged the exploration company to slim down.
French oil field servicer CGG on Thursday spurned a €1.47 billion ($1.8 billion) buyout offer from larger rival Technip SA, the second big-ticket deal prospect to hit the industry this week as plunging oil prices and shrinking demand boost consolidation prospects.
Florida Gov. Rick Scott said Wednesday that five proposals for 20 projects totaling $77 million have been submitted to the Gulf Coast Ecosystem Restoration Council in an effort to restore some of the state’s Gulf Coast waterways in the wake of the 2010 Deepwater Horizon oil spill.
The Ethiopian government will receive $865 million in financing to modernize the country’s rail system, hailed as a key step in advancing the eastern African nation’s infrastructure and broader economy, one bank participating in a consortium of lenders said Wednesday.
Hess Corp. asked a Texas federal court Wednesday to toss a suit seeking $1.7 million in damages for alleged negligence in drilling oil and gas wells in the Eagle Ford Shale that contaminated other nearby wells, saying the claims are time barred.
Senate Democrats on Wednesday proposed a carbon fee that would require polluters to pay for every ton of pollution they emit, a sum the bill’s sponsors said could reach as high as $2 trillion over ten years.
Australian mining company Altura Mining Ltd. said Tuesday that it will spin off its coal assets — which include stakes in two Indonesian coal mining projects — into a new company that will be listed on the Singapore stock exchange with an initial public offering in early 2015.
Mining giant Cliffs Natural Resources Inc. said Wednesday that it’s looking to exit its eastern Canada mining operations and potentially close its Bloom Lake iron ore mine in Quebec as it contends with declining iron ore prices and is reportedly seeking out potential buyers for the mine.
The U.S. Export-Import Bank has inked a deal with India’s renewable energy development agency that could provide up to $1 billion to finance the sale of U.S. clean energy exports to the South Asian country, it said Tuesday.
Despite a September news release that claimed otherwise, Russia's Oasis Beverages was not part of a group that purchased Pabst Brewing Co. for $700 million, while state-owned Saudi Electricity Co. is hoping to get in on a $25.06 billion nuclear project in the U.K.
Dallas-based pipeline operator Energy Transfer Partners L.P. has agreed to a $3.75 billion asset swap with its affiliate Energy Transfer Equity LP, gaining a 45 percent interest in the lucrative Bakken pipeline project, the partnerships told regulators Tuesday.
The U.S. Senate on Tuesday fell one vote shy of approving TransCanada Corp.’s proposal to complete the 1,700-mile Keystone XL tar sands oil pipeline from Canada to Texas, a legislative setback that's likely to be reversed when Republicans take over the body in January.
The $34.6 billion merger between Halliburton Co. and Baker Hughes Inc. faces a tough slog to secure antitrust approval, and experts say the oilfield services giants will have to win over not only hard-nosed authorities but also large sophisticated customers in order to get the deal done.
The U.S. Forest Service on Tuesday released guidance for managing nearly 1.1 million acres of national forests in Virginia and West Virginia that pleased both environmentalists and the oil and gas industry by allowing fracking in a few areas, but not in most of the area.
Institutional investors are increasingly interested in Europe's Projects of Common Interest, however, due to constraints, regulatory adaptation will be required to allow private investors to invest directly into transmission system operators in many jurisdictions, says Tomas Gardfors of Norton Rose Fulbright.
Our estimates indicate that some law firms spend up to $8,000 per attorney each year on print-related costs. Although we live in a digital world, hard copy printing will remain an important part of business for years to come. Changing technology, however, offers opportunities to improve efficiencies and save money, say Senthil Rajakrishnan and Ryan Mittman of HBR Consulting LLC.
Despite fundamental differences among "projects of common interest" in Europe's energy market, they face similar challenges in the form of cross-border cooperation, regulatory alignment and asymmetric impacts on EU member states, says Tomas Gardfors of Norton Rose Fulbright.
Unless the recent ruling in the Dewey & LeBoeuf LLP bankruptcy case is overturned on appeal or the New York Legislature amends the state’s fraudulent transfer and partnership laws, partners of New York firms will bear greater risk if their firms fail than will members of many non-New York partnerships. This risk factor might even affect decisions by prospective lateral partners about which firms to join, say attorneys with Arnold & Porter LLP.
The European Commission's recent adoption of key energy infrastructure projects — Projects of Common Interest — will require substantial investment given their scale and present significant opportunities for investors, financiers, governments and contractors on a global scale, says Tomas Gardfors of Norton Rose Fulbright.
The U.S. Securities and Exchange Commission’s securities fraud action against the former mayor of Allen Park, Michigan, in connection with a proposed public-private film studio project suggests that the SEC intends, when feasible, to use the “control person” theory to go after actors it deems culpable for securities fraud in municipal offerings but cannot reach as primary violators, says Leonard Weiser-Varon of Mintz Levin Cohn Fer... (continued)
Motions filed by the Texas General Land Office and Texas Oil and Gas Association against Denton's hydraulic fracturing ban demonstrate that both parties have structured their filings in a manner to align with the reasoning of courts that have invalidated local fracking bans, say Barclay Nicholson and Johnjerica Hodge of Norton Rose Fulbright.
The pending redefinition of the term “waters of the U.S.” will, if adopted as proposed, have a substantial impact on U.S. oil and gas operations — existing Spill Prevention, Control and Countermeasure Rule plans may need to be revised, new stormwater permit coverage may need to be sought, and more 404 permits will be required for regulated activities in waters newly captured by the revised definition, say attorneys with Pillsbury W... (continued)
The growth of Chinese investment in the United States has been controversial, which is reflected in the scrutiny from the Committee on Foreign Investment in the United States. But as shown by a number of recent deals, including the Smithfield-Shuanghui, Nexen-CNOOC and IBM-Lenovo transactions, parties have successfully navigated the CFIUS review process by adopting proactive and transparent approaches, say attorneys with Simpson Th... (continued)
If one takes at face value all of the statements made by members of Congress and interested parties, the lame-duck session will be a complete 180-degree turn in productivity, with Congress quickly settling disputes and finding common ground on issues and legislation where agreement has previously eluded them. Rhetoric aside, lame-duck sessions dealing with expiring tax provisions have become the norm, says John Harrington of Dentons US LLP.