Big Oil Rolls Out Al Gore to Torpedo Ethanol
To persuade President Obama to abandon ethanol, the oil industry and its allies will try a new television advertising pitch, starting today: Ethanol is worse for the climate than gasoline.
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The nagging question for investors: Is 2% enough?
For so many crucial investor queries, it seems, the answer is coming up 2%.
BP CEO: The low oil price is not all bad news
Bob Dudley has said that low oil prices are not all bad for the energy industry, as subsidies have been cut from petrol products around the world, which has resulted in fairer pricing.
Schlumberger to cut more jobs, sees recovery pushed to 2017
“The likely timing gap between the oil price recovery and the subsequent increase in oilfield services activity in combination with a more conservative spending outlook from our customers is causing us to now take further action,” said Chief Executive Paal Kibsgaard said on a conference call. Schlumberger has already cut 20,000 jobs this year and scaled back spending in response to weak crude prices, moves that helped its third-quarter profit
VW names Daimler compliance manager to help tackle scandal
Volkswagen (VOWG_p.DE) named Daimler manager Christine Hohmann-Dennhardt on Friday to the newly created post of board member for integrity and legal affairs, as it strives to recover from the scandal over its cheating of diesel emissions tests. Europe’s biggest carmaker said Hohmann-Dennhardt, who has held the same position at German rival Daimler (DAIGn.DE) since 2011, would start her new job on Jan. 1, 2016. VW also said group sales fell
US factory output drops in latest sign of weak growth
U.S. manufacturing production fell for the second straight month in September as factories cranked out fewer appliances, computers, and electronics. Factory output declined 0.1 percent, the Federal Reserve …
GE beats profit expectations as aviation counters weak oil segment
The U.S. conglomerate, which is pulling back from financial services, also said third-quarter industrial revenue grew 4 percent, excluding the impact of foreign currency swings and acquisitions. The company maintained its profit forecast for its core industrials segment of $1.13 to $1.20 per share for the full year. On another positive note for shareholders, GE said it expects to retire as much as 7 percent of its outstanding floated shares
Alibaba offers to buy all of 'China's YouTube'
The offer, a vote of confidence in China’s economy by Alibaba’s Jack Ma, is the latest in a string of U.S.-listed Chinese companies being taken private by big shareholders. The e-commerce giant already owns 18.3 percent of Youku Tudou, having bought into the company in mid 2014 as part of its push into online video.
Honeywell profit beats as costs fall
Honeywell International Inc , a U.S. manufacturer of aerospace parts and climate control systems, reported a better-than-expected quarterly profit as costs fell. The company, whose customers include Airbus …