OIL

Enron in earnings slump

Embattled energy group, Enron Corp, which was taken over by Dynegy Inc after a financial crisis t...

The Houston-based company announced a third quarter loss of $464 million and lowered earnings by three cents a share. Its fourth quarter earnings would also be reduced by an undetermined amount.

Last week, Enron was the recipient of a US$23 billion ($44.8 billion) rescue bid from Dynegy, thus averting a potential crisis in the US power and natural gas markets.

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