Schlumberger takes over $12 billion charge as CEO charts new course
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.
Kansas City Southern profit beats, fueled by Mexico petroleum shipments
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 steady in face of contradictory signals
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.
Wall Street opens lower as J&J slips
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 agrees $4.9 billion Rothesay Life pension deal
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.
Judge’s unorthodox approach has huge opioid settlement within reach
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.
Zero-sugar sodas, smaller soft drink cans drive Coca-Cola revenue beat
Coca-Cola Co beat Wall Street estimates for quarterly revenue on Friday as customers took to smaller-sized cans of its sodas, including Coca-Cola Zero Sugar, prompting the beverage maker to give an upbeat forecast for 2019.
Kansas City Southern profit beats on increased petroleum shipments to Mexico
Railroad operator Kansas City Southern on Friday reported a better-than-expected quarterly profit, helped by an increase in refined fuel products and liquid petroleum gas shipments to Mexico and lower fuel and equipment costs.
Wall Street Week Ahead: Tech haves and have-nots face third-quarter tests
Technology companies, which make up the largest swath of the U.S. stock market, are expected to post a nearly 8% drop in third-quarter profits as reports roll in from many of the sector’s biggest corporations.
How a small aluminum maker won U.S. trade protection
When Donald Trump won the White House, the sprawling aluminum smelter that hugs the Ohio River here was operating at less than half its capacity, and most of its skeleton crew of 270 remaining workers were fearful about their future.
