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Oil rises alongside equities, but downbeat OPEC outlook caps gains

19 hours ago DieselGasoil Comments Off on Oil rises alongside equities, but downbeat OPEC outlook caps gains
NEW YORK (Reuters) – Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. FILE PHOTO: A wastewater injection well owned by Parsley Energy operates in the Permian Basin near Midland, Texas U.S. August 23, 2018. REUTERS/Nick Oxford But oil’s gains Read More

U.S. drillers add oil rigs for first week since June: Baker Hughes

21 hours ago DieselGasoil Comments Off on U.S. drillers add oil rigs for first week since June: Baker Hughes
(Reuters) – U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks despite plans by most producers to cut spending on new drilling this year. FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February 13, 2019. REUTERS/Nick Oxford Companies added six oil rigs Read More

Alibaba and the $15 billion question: Amid Hong Kong’s protests, when to list?

1 day ago DieselGasoil Comments Off on Alibaba and the $15 billion question: Amid Hong Kong’s protests, when to list?
HONG KONG (Reuters) – Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd (BABA.N) on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables. FILE PHOTO: A logo of Alibaba Group is seen at an exhibition during Read More

Ackman eyes more gains for his fund with help of Berkshire, others

2 days ago DieselGasoil Comments Off on Ackman eyes more gains for his fund with help of Berkshire, others
BOSTON (Reuters) – Billionaire investor William Ackman, whose portfolio has gained almost 50% this year, said his fund can keep delivering “high, long-term” returns, and he expects that a newly disclosed stake in Berkshire Hathaway Inc (BRKa.N) will help boost gains. FILE PHOTO: William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, Read More

GE shares fall on Madoff whistleblower calling its finances a fraud

2 days ago DieselGasoil Comments Off on GE shares fall on Madoff whistleblower calling its finances a fraud
(Reuters) – General Electric Co (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO. Chief Executive Officer Larry Culp said Markopolos’ 175-page report contained factual errors Read More

GE shares fall on report alleging its finances are worse than disclosed

2 days ago DieselGasoil Comments Off on GE shares fall on report alleging its finances are worse than disclosed
(Reuters) – General Electric (GE.N) shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems. In a 175-page report, Markopolos accused GE of hiding $38 billion in potential losses and asserted that the company’s cash and Read More

GE stock drops as whistleblower levels accounting accusations

2 days ago DieselGasoil Comments Off on GE stock drops as whistleblower levels accounting accusations
By Tony Robinson on 8/15/2019 NEW YORK (Bloomberg) – General Electric Co. fell in early trading after a whistle-blower accused the company of masking financial problems. Harry Markopolos, who had raised concerns over investment manager Bernie Madoff before his Ponzi scheme was exposed, said GE has understated liabilities in its insurance unit and hasn’t properly Read More

Malaysia files criminal charges against 17 Goldman Sachs executives

1 week ago DieselGasoil Comments Off on Malaysia files criminal charges against 17 Goldman Sachs executives
KUALA LUMPUR (Reuters) – Malaysia filed criminal charges on Friday against 17 current and former directors at subsidiaries of Goldman Sachs Group Inc (GS.N) following an investigation into a multi-billion-dollar corruption scandal that led to the demise of state fund 1MDB. FILE PHOTO – Men walk past a 1Malaysia Development Berhad (1MDB) billboard at the Read More