Cairn Energy halts share buy-back after Indian tax probe

London-listed oil and gas explorer Cairn Energy said it would halt a $300 million share buy-back programme while Indian tax authorities assess income taxes dating back seven years. The company made the announcement on Tuesday as it reported a 2013 loss of $556 million after costs for unsuccessful exploration in Morocco and the North Sea soared. "The board has decided to suspend the previously announced share buy-back programm...