Schlumberger NV's new chief executive officer wielded an ax to the company's asset-heavy businesses, taking a $12.7 billion charge in the face of weaker shale drilling and sliding profits.
Railroad operator Kansas City Southern on Friday reported a better-than-expected quarterly profit, helped by an increase in refined fuel shipments to Mexico and ongoing cost cuts.
Oil prices were broadly steady on Friday as concern over slower growth in China, the world's biggest oil importer, was countered by bullish signals from both the Chinese and U.S. refining sectors and a North Sea crude disruption that proved temporary.
"It was built for hyper growth and that is too capital intensive," says the Starwood Capital founder.
U.S. stocks opened slightly lower on Friday, weighed down by Johnson & Johnson, while upbeat earnings reports limited losses and calmed nerves about the global economy after China expanded at its weakest pace in almost 30 years.
Walmart's Asda has agreed a 3.8 billion pounds ($4.9 billion) 'buy in' with Rothesay Life to secure the benefits for 12,300 members of one of its pension schemes, in a deal that simplifies its balance sheet ahead of a possible standalone listing.
From the start of the sprawling U.S. litigation seeking to hold drugmakers and distributors liable for the country's opioid epidemic, Judge Dan Polster has made one thing clear: he never wanted a trial.
Bank of America also says strong sales and a growth in digital ordering will fuel bottom-line growth.
Schlumberger NV's new chief executive wielded an axe to the company's asset-heavy businesses, taking a $12.7 billion charge in the face of weaker shale drilling and sliding profits.
Documents from Saudi Aramco show that the world's largest oil firm earns only a limited proportion of its profit from foreign refining ventures, an area in which the company plans huge investment.
Wall Street struggled for direction on Friday as upbeat earnings reports calmed nerves about the global economy after China expanded at its weakest pace in almost 30 years, with Johnson & Johnson also weighing on the blue-chip Dow index.
Britain may be about to draw a line under almost 3-1/2 years of political chaos, economic uncertainty and tortuous discussions with the European Union over the terms of its exit from the bloc. If the UK parliament gives its nod to the divorce deal Prime Minister Johnson has secured -- unlikely but possible -- we might well see sterling rally more than 5%; shares in domestic-focused British companies might rocket to record highs.
Oil prices steadied on Friday, with countervailing signals from China's economy and refining sector balancing each other out, while hopes rose for progress toward a U.S.-China trade agreement after optimistic signals emerged from negotiations.
Railroad operator Kansas City Southern on Friday reported a better-than-expected quarterly profit, helped by an increase in refined fuel shipments to Mexico and ongoing cost cuts.
Millennials aren't counting on Social Security for much help in retirement.