SouthWest Water Co. s board declared a quarterly dividend of 5 cents per share on Friday. The board also declared a 65.625 cent dividend per share of Series A preferred stock.

BP said Thursday that it would pay Devon Energy $7 billion for assets in Brazil, Azerbaijan and the Gulf of Mexico, and that the two firms would form a joint venture to develop an oil sands project in Alberta, Canada.

For venture capital firms, a mix of poor of investment returns and a tough economic environment has continued to dog the industry, resulting in an ongoing slide in fundraising, The Wall Street Journal reported.

Peter Mandelson, the British business secretary, has come under fire after a parliamentary committee released a report accusing his department of doling out more than $448 million to poorly-performing venture capital funds, according to press reports.

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