Australian Buys More Texaco

Australian investor Robert Holmes a Court has lifted his stake in embattled Texaco Inc. to more than $1 billion with stock purchases of $225 million on two days this week, according to a government filing Friday.

He now controls 9.5% of the oil giant’s stock, up from 7.4% earlier this week, according to newly submitted Securities and Exchange Commission documents. Holmes a Court’s investment group now owns 23,056,500 shares of Texaco, worth $1.04 billion at the current market price of $45.50 a share on the New York Stock Exchange.