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BMW plans to cut costs after warning on profits

2 hours ago DieselGasoil Comments Off on BMW plans to cut costs after warning on profits
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year and plans a sweeping 12 billion euro ($13.6 billion) savings and efficiency plan to help offset higher technology investment and currency costs. The German carmaker last week reported a 7.9 percent fall in 2018 operating profit and said Read More

'Perfect storm' of tight supply & global demand drives oil prices higher

4 hours ago DieselGasoil Comments Off on 'Perfect storm' of tight supply & global demand drives oil prices higher
Oil prices have risen far higher and faster than most analysts expected, with major banks now changing their forecasts as a perfect storm of factors forms around oil markets. “The latest Brent rally has brought prices to our peak forecast of $67.5/bbl, three months early,” Goldman Sachs wrote in a note. The investment bank said Read More

BMW delivers 2019 profit warning and plan to cut costs by 12 bln euros

5 hours ago DieselGasoil Comments Off on BMW delivers 2019 profit warning and plan to cut costs by 12 bln euros
MUNICH (Reuters) – BMW expects group pretax profit to fall by more than 10 percent this year, it said on Wednesday as it announced a sweeping 12 billion euro ($13.6 bln) savings and efficiency plan to help offset higher technology investment and currency costs. FILE PHOTO: The BMW logo is seen on the wheel of Read More

Pipestone Energy Corp. Announces Progress on Its Development Program and a Significant Increase in the Value of Its Reserves and Resources

6 hours ago DieselGasoil Comments Off on Pipestone Energy Corp. Announces Progress on Its Development Program and a Significant Increase in the Value of Its Reserves and Resources
CALGARY, Alberta, March 20, 2019 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to provide an operational update as well as updated reserves and resources information effective as of January 4, 2019, which was the closing date of the amalgamation (the “Amalgamation”) of Pipestone Oil Corp. (“Pipestone Read More

Asian shares slip from 6-month high ahead of Fed policy decision

14 hours ago DieselGasoil Comments Off on Asian shares slip from 6-month high ahead of Fed policy decision
TOKYO (Reuters) – Asian shares slipped from six-month highs on Wednesday as investors took profits ahead of a policy decision by the U.S. Federal Reserve which is expected to shed more light on its interest rate plans for the rest of the year. A man walks past an electronic stock quotation board outside a brokerage Read More

Tencent Music meets profit estimates in first earnings report, shares fall

20 hours ago DieselGasoil Comments Off on Tencent Music meets profit estimates in first earnings report, shares fall
Tencent Music Entertainment company is seen officially listed on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 12, 2018. REUTERS/Bryan R Smith (Reuters) – China-based music streaming company Tencent Music Entertainment Group on Tuesday posted an in-line quarterly adjusted profit, in its first earnings report since going public. The Read More

Asian shares steady ahead of Fed meeting; May's Brexit deal in chaos

2 days ago DieselGasoil Comments Off on Asian shares steady ahead of Fed meeting; May's Brexit deal in chaos
Asian shares treaded water on Tuesday ahead of a U.S. Federal Reserve policy meeting, hovering near six-month highs, while sterling was choppy as the speaker of Britain’s parliament banned another vote on same Brexit deal. FILE PHOTO: Men look at stock quotation boards outside a brokerage in Tokyo, Japan, December 5, 2018. REUTERS/Issei Kato MSCI’s Read More

Oil closes in on four-month highs on OPEC cuts, U.S. stock draw

2 days ago DieselGasoil Comments Off on Oil closes in on four-month highs on OPEC cuts, U.S. stock draw
NEW YORK (Reuters) – Oil prices rose to near four-month highs on Monday, supported by the prospect of extended OPEC-led oil supply curbs and signs of inventory declines in U.S. crude stockpiles. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Photo/File Photo Read More