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Oil will go ‘bust’ if recession hits

18 hours ago DieselGasoil Comments Off on Oil will go ‘bust’ if recession hits
Oil prices plunged again on Thursday, dragged down by fears of slowing demand. An unexpected increase in inventories underscored the downside risk to oil prices. The EIAreported a drawdown in crude stocks, but a huge 9.25 million barrel combined increase in gasoline and diesel (gasoil) inventories, which surprised traders. Also, gasoline demand plunged by 0.5 mb/d Read More

Shale boom architect Mark Papa named new Schlumberger chairman

2 days ago DieselGasoil Comments Off on Shale boom architect Mark Papa named new Schlumberger chairman
7/19/2019 HOUSTON – Schlumberger is tapping as its chairman an executive who earned a reputation for building shale producers that bypass oil service companies. Mark Papa, 72, who will take over as chairman of the world’s biggest oilfield service provider next month, helped give birth to the U.S. shale boom a decade ago by building Read More

Two top fixed-income portfolio managers exit Eaton Vance

2 days ago DieselGasoil Comments Off on Two top fixed-income portfolio managers exit Eaton Vance
FILE PHOTO: Kathleen Gaffney, vice president, director of diversified fixed income and lead portfolio manager for Eaton Vance Management, speaks during the Reuters Global Investment 2019 Outlook Summit in New York, U.S., November 16, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – Bond fund managers Kathleen Gaffney and Henry Peabody left Eaton Vance Corp at the Read More

Fed rate cut bets buoy stocks, dollar steadies

3 days ago DieselGasoil Comments Off on Fed rate cut bets buoy stocks, dollar steadies
LONDON (Reuters) – Global stocks rose on Friday as investors firmed up bets on a U.S. interest rate cut at the end of July after a speech by a top Federal Reserve official further cemented expectations for one, fuelling appetite for risky assets and capping the dollar. FILE PHOTO: The German share price index DAX Read More

AB InBev sells Australian brewer to Asahi, keeps Asia IPO on radar

3 days ago DieselGasoil Comments Off on AB InBev sells Australian brewer to Asahi, keeps Asia IPO on radar
BRUSSELS/LONDON (Reuters) – Anheuser-Busch InBev (ABI.BR), the world’s largest brewer, is selling its Australian operations to Japan’s Asahi (2502.T) for $11 billion and could revive the stalled flotation of its Asian business as it looks to cut debt. FILE PHOTO: The logo of Anheuser-Busch InBev is pictured inside the brewer’s headquarters in Leuven, Belgium, Feb. Read More

Fed rate cut bets lift stocks, dollar steadies

3 days ago DieselGasoil Comments Off on Fed rate cut bets lift stocks, dollar steadies
LONDON (Reuters) – Global stocks rose on Friday as investors firmed up bets on a U.S. interest rate cut at the end of July after a speech by a top Federal Reserve official further cemented expectations for one, fuelling appetite for risky assets and capping the dollar. FILE PHOTO: The German share price index DAX Read More

BMW picks insider Zipse as CEO to catch up with rivals

3 days ago DieselGasoil Comments Off on BMW picks insider Zipse as CEO to catch up with rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) has named Oliver Zipse as its new CEO, hoping the “decisive” company lifer will help the automaker regain its edge in electric cars and win back the premium market lead lost to Mercedes-Benz under his consensus-seeking predecessor. FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW attends the Read More

BMW picks ‘decisive’ Zipse as CEO to catch up with rivals

3 days ago DieselGasoil Comments Off on BMW picks ‘decisive’ Zipse as CEO to catch up with rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) named Oliver Zipse as its new chief executive late on Thursday, praising his “decisive” qualities after the carmaker lost its edge in electric cars and ceded the premium sales crown to Mercedes under his consensus-seeking predecessor. FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW attends the company’s Read More

BMW picks ‘decisive’ new CEO to catch up with rivals

3 days ago DieselGasoil Comments Off on BMW picks ‘decisive’ new CEO to catch up with rivals
FRANKFURT (Reuters) – BMW (BMWG.DE) named Oliver Zipse as its new chief executive late on Thursday, praising his “decisive” qualities after the luxury carmaker lost its edge in electric cars and ceded the premium sales crown to Mercedes under his consensus-seeking predecessor. FILE PHOTO: Oliver Zipse, board member of German luxury carmaker BMW attends the Read More

Oil jumps after U.S. Navy downs Iranian drone

3 days ago DieselGasoil Comments Off on Oil jumps after U.S. Navy downs Iranian drone
TOKYO/SINGAPORE (Reuters) – Oil prices rose nearly 2% on Friday as tensions brewed again in the Middle East after a U.S. Navy ship destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows. FILE PHOTO: An oil pump is seen at sunset outside Vaudoy-en-Brie, near Paris, France April 23, Read More