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CHARLOTTE AMALIE – The Internal Revenue Service has issued a notice advising taxpayers that the Treasury Department and the IRS intend to propose regulations providing that health insurance issuers must report coverage in catastrophic health insurance plans. Notice 2015-68 also allows electronic delivery of statements reporting coverage under expatriate health

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At VIFreepBusiness NewsCommunity AffairsSt. Croix News

CHRISTIANSTED – A federal judge gave interim approval for $40 million loan to HOVENSA from its proposed new owners as bankruptcy proceedings over the future of the South Shore refinery began in U.S. District Court in Golden Rock on Thursday. Some of the money is needed by HOVENSA to pay a

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At VIFreepBusiness NewsCommunity AffairsSt. Croix News

Hess Corp’s Lorrie Hecker CHRISTIANSTED – The owner of the mothballed refinery on St. Croix filed for chapter 11 on Tuesday, as part of a plan to sell its assets for $184 million to an affiliate of Boston private-equity firm ArcLight Capital Partners LLC. The refinery, known as HOVENSA LLC,

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At VIFreepBusiness NewsSt. Croix NewsSt. John NewsSt. Thomas NewsTechnology News

CHARLOTTE, N.C. – Bank of America said Tuesday a series of improvements to mobile and online banking to better meet customers’ changing needs will make it easier for users to manage their finances digitally. The new updates include the introduction of fingerprint and Touch ID sign-in, in addition to the

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

CHRISTIANSTED — HOVENSA LLC, a joint venture between Hess and Venezuela’s PDVSA, said on Monday that it has reached an agreement to sell its terminal assets for $184 million to Limetree Bay Holdings LLC. The buyer is an affiliate of ArcLight Capital Partners LLC, a Boston-based private equity firm focused on energy

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

Hess Oil’s Lorrie Hecker CHRISTIANSTED – The new buyer of the Hovensa refinery intends to scrap plans to operate the complex as a refinery, instead rebooting the troubled St. Croix-based asset as a storage facility with 15 million barrels of operable capacity, sources said Monday. Limetree Bay Holdings, a subsidiary

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At VIFreepBreaking NewsBusiness NewsSt. Croix News

CHRISTIANSTED – The Virgin Islands government on Monday sued American oil company Hess Corp. for at least $1.5 billion, alleging that the firm abandoned a massive oil refinery it had pledged to run through the year 2022. Within hours of the filing, the Hess subsidiary that owns the refinery announced that it

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               Carlos Latour MIAMI – For General Motors, the company’s South Florida zone covers a lot of real estate, roughly along the state’s eastern coast from Gainesville south to the Keys. This geographical area, one of two GM zones in Florida, also represents a huge regional market for the Detroit-based

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At VIFreepBreaking NewsBusiness NewsSt. Croix NewsSt. John NewsSt. Thomas News

        Fed President William Dudley NEW YORK – A September rate hike is looking less compelling, according to William Dudley, president of the New York Federal Reserve. A voting member of the Federal Open Market Committee, Dudley addressed the Fed’s potential tightening—especially considering the recent collapse in U.S. equities and

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At VIFreepBreaking NewsBusiness NewsSt. Thomas News

              PriceSmart on St. Thomas CHARLOTTE AMALIE – PriceSmart, Inc. today announced that for the month of August 2015 net sales increased 12.6% to $232.7 million, from $206.7 million in August a year earlier. For the twelve months ended August 31, 2015, net sales increased 11.3% to $2,721.1 million from

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