At Exxon, CEO’s promised turnaround sapped by chemicals, refining

At Exxon, CEO’s promised turnaround sapped by chemicals, refining
HOUSTON (Reuters) – At Exxon Mobil Corp, CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining. FILE PHOTO: Darren Woods, chairman & CEO of Exxon Mobil Corporation, attends a news conference at the New York Stock Exchange (NYSE) in New York,... Read More

Sainsbury’s targets 2040 for net zero emissions, criticizes UK goal

Sainsbury’s targets 2040 for net zero emissions, criticizes UK goal
LONDON (Reuters) – Sainsbury’s (SBRY.L) committed itself on Tuesday to have net zero greenhouse gas emissions by 2040, a decade ahead of the British government’s own target which it said “isn’t soon enough”. FILE PHOTO: Signage for Sainsbury’s is seen at a branch of the supermarket in London, Britain, January 8, 2020. REUTERS/Toby Melville/File Photo Britons have become increasingly aware... Read More

Wall Street tumbles as virus fuels economic worry

Wall Street tumbles as virus fuels economic worry
NEW YORK (Reuters) – U.S. stocks suffered their worst day in over three months on Monday as China extended the Lunar New Year holiday due to a virus outbreak, fueling worries about the economic impact of containment efforts in the world’s second largest economy. The benchmark S&P 500 suffered its worst weekly performance since September last week as China locked... Read More

Wall Street drops as virus stokes economic concerns

Wall Street drops as virus stokes economic concerns
NEW YORK (Reuters) – U.S. stocks fell more than 1% on Monday as investors worried about the economic impact of a virus outbreak in China as containment efforts including travel bans have been put in place in the world’s second largest economy after the country extended the Lunar New Year holiday. The benchmark S&P 500 suffered its worst weekly performance... Read More

Oil falls 2% to three-month lows as China virus raises demand fears

Oil falls 2% to three-month lows as China virus raises demand fears
NEW YORK (Reuters) – Crude prices dropped 2% to three-month lows on Monday as the death toll from China’s coronavirus grew, clamping down on travel and fueling expectations of slowing oil demand. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S. February 11, 2019. REUTERS/Nick Oxford Brent crude LCOc1 was down $1.37 a barrel, or 2.3%, at $59.32... Read More

Wall Street tumbles as virus fears hit travel, growth stocks

Wall Street tumbles as virus fears hit travel, growth stocks
(Reuters) – Wall Street’s main indexes fell more than 1% on Monday as investors worried about the economic fallout of a virus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities... Read More

Travel, tech stocks lead Wall St. lower as China virus fears mount

Travel, tech stocks lead Wall St. lower as China virus fears mount
(Reuters) – U.S. stocks fell more than 1% on Monday as investors worried about the economic fallout of the fast-spreading coronavirus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. FILE PHOTO: A trader works on the floor of the New York Stock Exchange shortly after the opening... Read More

Valaris settles with Luminus, hands board seat to hedge fund

Valaris settles with Luminus, hands board seat to hedge fund
BOSTON (Reuters) – Oil drilling firm Valaris PLC reached a settlement with Luminus Management and said on Monday that it has appointed one of the hedge fund’s partners to its board. Luminus’ Adam Weitzman, an expert in offshore oil drilling who has experience in debt and equity capital markets and risk management, will join Valaris’ 11-member board as a 12th... Read More