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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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At VIFreepBusiness NewsCaribbean NewsPuerto Rico NewsSt. Croix NewsSt. John NewsSt. Thomas News

               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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At VIFreepBusiness NewsCommunity AffairsSt. Croix News

David Johnson (top man) and Kirk Chewning (bottom man) CHRISTIANSTED – Alex Slusky was under pressure to put the money in his private-equity fund to work. The San Francisco technology financier had raised $1.2 billion in 2007 to buy and turn around struggling software companies. By 2012, investors including Harvard

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At VIFreepBusiness NewsSt. Croix News

David Johnson (top man) and Kirk Chewning (bottom man) CHRISTIANSTED – Island life has been good to David Johnson. Photos on the St. Croix resident’s Facebook (FB) page show him fishing in tournaments, partying on his boats, and chugging Fireball Whisky from the bottle. Johnson has won the island’s Christmas

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At VIFreepBusiness NewsCommunity AffairsSt. Croix NewsSt. John NewsSt. Thomas News

    Carambola Beach Resort at Davis Bay Hurricane Katrina changed the way insurance companies and some corporations build catastrophe models and calculate the potential damage from a big storm, leading to more accurate damage predictions, better risk assessments and more strategic and cost-effective insurance policy decisions, some risk management experts

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

SPRINGFIELD, Ore. – Royal Caribbean hopes those looking for a job won’t let a new opportunity pass them by. The cruise company is planning to bring aboard more than 200 people by the end of the year. The salary for the full time positions range from $9.79 to $14.33 per

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