Beer Distributor, O'Malley Buying Padres for $800M

Aug. 7 (Bloomberg) -- Bloomberg's Dominic Chu reports that San Diego Padres owner John Moores has signed an agreement to sell the team to a group headed by California beer distributor owner Ron Fowler that includes the family of former Los Angeles Dodgers owner Peter O’Malley and golfer Phil Mickelson. The purchase price of $800 million would include a 21 percent stake in the regional sports network Fox Sports San Diego. He speaks on Bloomberg Television's "In The Loop."

Are Low Oil Prices Here to Stay?
36:52 - Vitol Group Chief Executive Officer Ian Taylor says crude oil will likely hover between $40 and $60 a barrel for 10 years. The lower boundary would imply little recovery for Brent crude, the global benchmark, whereas the upper limit would put prices back to the level of July 2015, when the oil industry was already taking measures to weather the crisis. The forecast would mean oil-rich countries and the energy industry would face the longest stretch of low prices since the 1986-1999 period, when crude mostly traded between $10 and $20 a barrel.
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