Friday PM July 16th, 2010

The U.S. Department of Justice seeks more information into the potential merger of RRI Energy and Mirant Corporation…Houston American Energy is set to begin trading publicly on the NYSE…BP is filling claims caused by the oil spill in the Gulf…Computer maker Dell is settling charges with the SEC.

The United States Department of Justice wants more information about the proposed merger between the Houston-based RRI Energy and Atlanta-based Mirant Corporation. Both companies say they received a request for additional information. The companies say the request isn’t unusual, and is part of the regulatory approval process. In April, the companies announced their plans to merge into a new company named GenOn Energy. They expect the merger to close before the end of this year. RRI was formerly known as Reliant Energy.

Houston-based Houston American Energy Corporation says it has been authorized to list its shares of common stock on the NYSE AMEX Stock Exchange. The company anticipates its common stock will begin trading on Tuesday under its current symbol HUSA. Until then, the stock will continue trading on the NASDAQ Global Market. Houston American Energy is an independent energy company with interests in oil and natural gas wells and prospects.

BP says it has paid about $201 million dollars so far to individuals and businesses for economic losses from the Gulf Coast oil spill. More than 32-thousand claimants got one or more payments in the past ten weeks. BP says the largest groups include fishermen, who have received $32 million dollars, and shrimpers, who have received $18 million. More than 114-thousand claims have been submitted so far, but nearly half did not have enough information for BP to make a payment. Individuals or business with questions about their claims should call their claims adjustor or the toll free number (800) 573-8249.

Computer maker Dell today announced that it is closer to settling investigations into its accounting and actions of CEO Michael Dell. The Round Rock-based computer maker has propsed settlements to the staff of the Securites and Exchange Commission. Dell has set aside $100 million dollars to cover settling charges that employees had misled auditors and manipulated results to meet performance targets.