Monday, July 30, 2007

Exco plans $1.5 billion IPO for master limited partnership

NEW YORK (MarketWatch) -- Exco Resources on Monday set in motion plans to float a $1.5 billion initial public offering of its ownership stake in U.S.-based oil and gas properties, a deal that would rank as one of the largest in what's been a recent string of master limited partnerships to bow on Wall Street.

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NEW YORK (MarketWatch) -- FPL Group on Monday said second-quarter net income nearly doubled as the parent company of utility provider Florida Power & Light notched gains from its hedge operations.

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LONDON (MarketWatch) -- HSBC Holdings, one of the first banks to warn about the subprime-mortgage woes, on Monday reported a 25% increase in first-half profit and, more importantly, said it didn't see any further rise in U.S. bad debts.

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NEW YORK (MarketWatch) -- FPL Group on Monday said second-quarter net income nearly doubled as the parent company of utility provider Florida Power & Light notched gains from its hedge operations.

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NEW YORK (MarketWatch) -- The dollar dropped against other major currencies early Monday, coming off a two-week high against the euro as many traders bet that the greenback's rebound last Friday was probably overdone.

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