Two men forced a woman into the backseat of her sport utility vehicle at gunpoint, drove off but later lost control and plowed into a group of people on a corner near a fruit stand in Philadelphia on Friday, police said. Two children were killed, and three other people were critically injured.
Alan "Ace" Greenberg, the former chairman and chief executive officer of Bear Stearns Cos Inc, died on Friday at the age of 86 after a bout with cancer. Greenberg has been credited with engineering the rise of Bear Stearns in the second-half of the 20th century, when it became one of the largest standalone investment banks on Wall Street. In 2008, when the investment bank's exposure to toxic mortgage bonds brought it to the brink of collapse, JPMorgan Chase & Co rescued Bear Stearns and kept Greenberg on as vice chairman emeritus of its global wealth management business. "It's hard to imagine a financial services industry without Ace," wrote JPMorgan Chief Executive Officer Jamie Dimon and asset management chief Mary Erdoes in a note to employees on Friday.
By Erwin Seba HOUSTON (Reuters) - Exxon Mobil Corp is considering a multibillion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.S. shale oil boom, people with knowledge of the deliberations said. The expansion of the 344,600 barrel-per-day (bpd) Beaumont refinery, if carried out, would be completed by 2020 and potentially double its size with the addition of a third crude distillation unit (CDU), the sources said. If Exxon presses ahead, the investment would be a further indication that the American oil giant is breaking ranks with many of its big global rivals, who have been looking to sell off refining assets across the world. Just weeks ago Exxon unveiled a $1 billion investment in its Antwerp plant.
COLUMBUS, Ohio (AP) — The fired director of Ohio State University's celebrated marching band said through his attorney Friday that he has become a scapegoat for behavior occurring within the organization before his leadership and he'll fight to clear his name.