Gloves back on, OPEC and U.S. shale producers to deepen ties in Vienna
HOUSTON (Reuters) – Only a few years ago, shale CEOs and the Organization of the Petroleum Exporting Countries were in open conflict.
German probe into alleged VW market manipulation could wrap up this year
BRAUNSCHWEIG, Germany (Reuters) – German prosecutors could wrap up an investigation into alleged market manipulation by senior Volkswagen executives this year, the prosecutors said on Thursday, after ordering the carmaker to pay 1 billion euros to sett…
Oil steadies but threat of higher supply curbs gains
LONDON (Reuters) – Oil prices steadied on Thursday, but were likely to remain under pressure from evidence of rising U.S. output and uncertainty over the outlook for supply before a key meeting next week of the world’s largest exporters.
Euro goes up as ECB prepares to wind down
LONDON (Reuters) – The euro rose to its highest in a month but world stocks wilted on Thursday, as the European Central Bank prepared to pull the plug on its 2.55 trillion-euro, three-year stimulus program.
Rolls-Royce CEO cuts 4,600 jobs to boost profitability
LONDON (Reuters) – Rolls-Royce is to cut 4,600 jobs over two years in the latest attempt by boss Warren East to cut costs and make Britain’s best known engineering company more profitable and dynamic.
Engine makers on track with recovery plan for A320 engines, Airbus says
HAMBURG (Reuters) – Engine makers Pratt & Whitney and CFM are on track with a recovery plan after delays left Airbus having to park dozens of aircraft without engines, an executive at the European planemaker said on Thursday.
Embattled ZTE seeks $10.7 billion credit line, nominates 8 board members
HONG KONG (Reuters) – Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.
Rolls-Royce to cut 4,600 jobs in latest CEO drive to generate cash
LONDON (Reuters) – Britain’s Rolls-Royce said it would cut 4,600 jobs to save 400 million pounds a year in the latest attempt by CEO Warren East to simplify the business and generate more cash.
Rolls-Royce to cut 4,600 jobs to save 400 million pounds a year
LONDON (Reuters) – Britain’s Rolls-Royce said it would cut 4,600 jobs primarily in the UK as part of a plan to simplify its business and save 400 million pounds ($536 million) a year by the end of 2020.
U.S. energy firms chasing oil price rally stumble on old baggage
NEW YORK (Reuters) – With oil price recovery taking hold, several U.S. oil and gas companies entered 2018 with a compelling plan – sell undeveloped or less essential fields and invest the money to boost returns from their sweetest, most productive spot…
