ENERGY (MSM)

UK building the world’s largest offshore wind farm

Danish state-owned company Dong Energy A/S plans to set a new world record for the world’s largest offshore wind farm, breaking the existing record currently held by the 630-megawatt London Array, another facility built by Dong. The new U.K. wind farm will be located in the Irish Sea, about 12 miles off the west coast of Great Britain.​ When commissioned, it will provide enough energy to power almost a half million

Chevron slashes jobs and spending to weather low oil prices

Chevron Corp is slashing 10 percent of its workforce and sharply paring back its budget, with Chief Executive Officer John Watson giving a downbeat view on Friday of an industry beleaguered by low oil prices. A more than 55 percent decline in crude oil since last year has rippled through the global energy industry, forcing producers and their suppliers to make tough decisions. For Chevron, that means cutting its budget

Chevron slashes jobs and spending to weather low oil prices

Chevron Corp is slashing 10 percent of its workforce and sharply paring back its budget, with Chief Executive Officer John Watson giving a downbeat view on Friday of an industry beleaguered by low oil prices. A more than 55 percent decline in crude oil since last year has rippled through the global energy industry, forcing producers and their suppliers to make tough decisions. For Chevron, that means cutting its budget

Indexes flat; on track for best month in four years

The S&P consumer staples sector slipped 0.63 percent after data showed U.S. consumer spending barely rose in September and the University of Michigan’s index on consumer sentiment came in below expectations. The three major indexes have rallied about 9 percent in October, mostly driven by the Fed’s decision to keep rates unchanged at its September meeting and largely positive third-quarter results. Energy majors Exxon and Chevron reported better-than-expected results, helped