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KKR seeks to woo investors with corporate rejig

KKR & Co (KKR.N) transforms into a corporation on Sunday, a change that should help the U.S. private equity firm tap a new pool of investors for its stock. What remains to be seen is if, given the new option, active fund managers will want to buy what KKR is selling. The change by KKR, which made its name through leveraged buyouts in Corporate America in the 1980s, to so-called C-Corp from a publicly traded partnership (PTP) will mean a bigger tax bill. …read more […]

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EPA ethics official pushing for investigations of Pruitt

The Environmental Protection Agency’s chief ethics official says he is pushing for a series of independent investigations into Scott Pruitt’s actions as administrator of the federal agency. In a letter to the U.S. Office of Government Ethics, EPA ethics official Kevin Minoli writes that “potential issues” regarding Pruitt have surfaced through sources within the EPA and media reports since April. Minoli writes that he has referred “a number” of those matters to the EPA’s inspector general. …read more […]

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Trump says Saudi king agreed to raise oil output by up to 2 million barrels

WASHINGTON/RIYADH (Reuters) – U.S. President Donald Trump said on Saturday that Saudi Arabia’s King Salman had agreed to his request to increase oil production “maybe up to 2,000,000 barrels,” an extraordinary amount not confirmed by the kingdom and which would push the OPEC leader to a level of production never tested before. In an early morning tweet, Trump said Saudi Arabia’s expanded production would help offset a decline in supply from Iran, after the United States pulled out of the Iran nuclear deal in May and moved to reimpose oil sanctions. …read more […]