Category: Business

Exxon Mobil Corp XOM.N said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices. Exxon and other oil producers have been slashing costs due to a collapse in oil demand and ill-timed bets on new […]

Apollo Global Management Inc, the private equity firm under investor scrutiny over CEO Leon Black’s ties with late financier and convicted sex offender Jeffrey Epstein, reported an 8% drop in third-quarter distributable earnings on Thursday. Distributable earnings (DE) – the cash available for paying dividends to shareholders – fell to $205.1 million from $222.5 million […]

A federal judge on Thursday granted a last-minute request to stop the U.S. government from turning over to Japan two men accused of helping smuggle former Nissan Motor Co 7201.T Chairman Carlos Ghosn out of the country while he was awaiting trial on financial crimes. U.S. District Judge Indira Talwani in Boston granted a request […]

The chief executive of Cenovus Energy said he is confident shareholders will approve its acquisition of rival Husky Energy, despite big quarterly losses and a stock sell-off. Cenovus CVE.TO and Husky HSE.TO lost more money than analysts expected and took impairment hits in the third quarter, the companies said on Thursday, adding concerns to a […]

Exxon Mobil Corp XOM.N was once the largest U.S. publicly traded company by market value in the United States. Now, the oil major is not even the most valuable energy name, having been surpassed by rivals and even a renewable company, as it tries to maintain its hefty dividend. It has been a difficult year […]

The European Central Bank committed on Thursday to take new action in December to contain the growing fallout from a second wave of coronavirus infections, likely in the form of more bond purchases or cheap credit for banks. While the bank’s Governing Council left policy unchanged this time around, it was the clearest hint yet […]

The European Central Bank left policy unchanged on Thursday, resisting pressure to unveil more stimulus amid a new wave of the pandemic, but provided the clearest hint yet of fresh easing at its next meeting in December. Following are highlights of ECB President Christine Lagarde’s comments at a news conference after the policy meeting. FISCAL […]