Exxon crushes Western oil company profits by $56 billion by 2022

Exxon crushes Western oil company profits by  billion by 2022

HOUSTON, Jan. 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a net profit of $56 billion for 2022, the company said Tuesday, taking home about $6.3 million an hour last year and not just a company record but also a historic high point for the Western oil industry. Oil companies are expected to break their … Read more

US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that it had received requests from the US Department of Justice for documents related to its Full Self-Driving and Autopilot driver assistance systems as regulations tighten. Reuters reported in October that Tesla is under criminal investigation over claims that the company’s electric vehicles could … Read more

France hit by new wave of strikes against Macron’s pension reform

France hit by new wave of strikes against Macron’s pension reform

The reform would raise the retirement age to 64 Schools, transportation networks, refinery supplies are affected Macron: Reform vital to ensure the viability of the pension system SAINT-NAZAIRE, France, Jan. 31 (Reuters) – Striking workers disrupted deliveries to French refineries, public transport and schools on Tuesday during a second day of nationwide protests over President … Read more

The Norwegian wealth fund posts a record loss of $164 billion

The Norwegian wealth fund posts a record loss of 4 billion

The loss in 2022 surpasses the previous record set in 2008 Inflation and geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan. 31 (Reuters) – The Norwegian wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion kroner ($164.4 billion) for 2022, … Read more

Adani’s crucial share sale 85% subscribed as institutions pumped funds

Adani’s crucial share sale 85% subscribed as institutions pumped funds

MUMBAI, Jan. 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale moved closer to full subscription on Tuesday as investors pumped in cash after a tumultuous week for his group in which the shares were ravaged by a destructive short-seller -report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was 85% underwritten … Read more

Australian nuclear body joins search for missing radioactive capsule

Australian nuclear body joins search for missing radioactive capsule

MELBOURNE, Jan. 31 (Reuters) – Australia’s nuclear safety agency said on Tuesday it had joined the hunt for a small radioactive pod that went missing somewhere in the outback, sending a team of specialist car-mounted and portable detection equipment . Authorities have now spent a week searching for the capsule believed to have fallen from … Read more

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

NEW YORK, Jan. 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is gearing up to seek bankruptcy protection as early as this week and has liquidators lined up to close additional stores unless a last-minute buyer appears, four people familiar with the matter said Monday. The timing of an eventual bankruptcy filing was in … Read more

Ford is lowering the prices of the Mustang Mach-E, following Tesla

Ford is lowering the prices of the Mustang Mach-E, following Tesla

Jan 30 (Reuters) – Ford Motor Co (FN) slashed prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle on Monday, weeks after global rival Tesla Inc (TSLA.O) lowered prices of its electric vehicles reduced by as much as 20%. Ford shares fell 1.5% at the start of trading. Tesla … Read more

US court rejects J&J bankruptcy strategy for tens of thousands of talk cases

US court rejects J&J bankruptcy strategy for tens of thousands of talk cases

30 Jan. (Reuters) – A US appeals court has overruled Johnson & Johnson’s (JNJ.N) attempt to bankrupt tens of thousands of lawsuits over its talc products, ruling that the healthcare conglomerate improperly filed a subsidiary in Chapter 11. even though it did not get into financial trouble. The decision of the U.S. 3rd Circuit Court … Read more

Unilever appoints former Heinz exec Schumacher as CEO

Unilever appoints former Heinz exec Schumacher as CEO

Becomes CEO on July 1 Activist shareholder says he met Schumacher at Heinz First outsider CEO since the appointment of Paul Polman in 2008 Unilever shares surpass FTSE 100 LONDON, January 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as CEO from July, a move welcomed by investors including board … Read more