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S&P 500 gains after two days of declines; energy falls

S&P 500 gains after two days of declines; energy falls

The United States and South Korea began long-planned joint military exercises on Monday, heightening tensions with North Korea, which called the drills a "reckless" step toward nuclear conflict. Tensions between the United States and North Korea and turmoil in the White House have caused stocks to sell off in the past two weeks. Absent U.S. economic data or other headlines, "it's a quiet Monday and people are still feeling the effects of last week.


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Sempra Energy to buy Oncor for $9.45 billion in blow to Berkshire

Sempra Energy to buy Oncor for $9.45 billion in blow to Berkshire

This represents a rare blow to Buffett, who avoids bidding wars for companies and had swooped in two months ago to buy Oncor after Texas regulators blocked two previous attempts by Energy Future to sell it. Energy Future, which has been in bankruptcy since 2014, had initially planned to seek court approval on Monday for the sale of Oncor to Berkshire for $9 billion over opposition from its biggest creditor, hedge fund Elliott Management Corp. Instead, Energy Future lawyer Chad Husnick told the court the Dallas-based company had decided to "pursue another path" with Sempra because of the value of the bid, a lower break-up fee and, most importantly, support from Elliott.


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