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Kraft Heinz shares fall 28 percent after writedown, dividend cut

11 hours ago DieselGasoil Comments Off on Kraft Heinz shares fall 28 percent after writedown, dividend cut
(Reuters) – Kraft Heinz Co shares fell to a record low on Friday a day after the food company disclosed a $15 billion write-down on its marquee brands, raising concern that years of rigorous cost cutting have eroded the value of its Kraft cheeses and Oscar Mayer deli meats. Kraft’s revenue growth has stagnated in Read More

Kraft Heinz' problems shine light on controversial budget tool

17 hours ago DieselGasoil Comments Off on Kraft Heinz' problems shine light on controversial budget tool
LONDON/BOCA RATON, Fla. (Reuters) – Mounting troubles at Kraft Heinz, revealed late on Thursday with a triple-punch of bad news, call into question its reliance on cost-cutting as a way to generate profit growth. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new Walmart Super Center prior to its Read More

PDC Energy Issues Statement

21 hours ago DieselGasoil Comments Off on PDC Energy Issues Statement
DENVER, Feb. 22, 2019 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (NASDAQ: PDCE) today issued the following statement in response to the public filing of a Schedule 13D by Kimmeridge Energy Management Company (“Kimmeridge”): PDC is open to the views and opinions of all shareholders. We take constructive suggestions seriously, and regularly Read More

JPMorgan trades banker offices for shared desks

1 day ago DieselGasoil Comments Off on JPMorgan trades banker offices for shared desks
NEW YORK – JPMorgan Chase & Co is tearing down walls and moving its San Francisco investment bankers onto “hot desks,” a space-saving layout that has long been a fixture at tech companies, while redesigning offices in Dallas and other cities. A view of the exterior of the JP Morgan Chase & Co. corporate headquarters Read More

Could Huawei threaten the Five Eyes alliance?

1 day ago DieselGasoil Comments Off on Could Huawei threaten the Five Eyes alliance?
In the shiny, optimistic vision of the future we will all be living in “smart cities” in which self-driving cars will check the best routes after being charged up on intelligent, connected power grids. Public services and safety will be carefully managed though data, while devices in our homes will talk to each other and Read More

Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands

1 day ago DieselGasoil Comments Off on Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands
(Reuters) – Shares of Kraft Heinz Co slumped 20 percent on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry. FILE PHOTO – Bottles of Heinz tomato ketchup Read More

Zargon Oil & Gas Ltd. Announces Appointment of Additional Director

2 days ago DieselGasoil Comments Off on Zargon Oil & Gas Ltd. Announces Appointment of Additional Director
CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (the “Company” or “Zargon”) (TSX SYMBOL:  ZAR) announces the appointment of Glenn Koach to the Board of Directors effective February 21, 2019. Mr. Koach is currently Co-Founder/Portfolio Manager of Concise Capital Management, LP. (“Concise”). Concise is an SEC-registered investment adviser with currently Read More

AMLO sounds death knell for oil reforms with Pemex farm-out halt

2 days ago DieselGasoil Comments Off on AMLO sounds death knell for oil reforms with Pemex farm-out halt
By Amy Stillman on 2/21/2019 Photo: Mexico President Andres Manuel Lopez Obrador. MEXICO CITY (Bloomberg) — Mexico President Andres Manuel Lopez Obrador has suspended future Petroleos Mexicanos farm-out bids, putting one of the final nails in the coffin for the 2014 energy reforms that promised to reverse years of oil-production declines with private companies’ involvement. “What Read More

‘Germany not 51st US state’: Trade lobby blasts US interference in Nord Stream 2 gas project

2 days ago DieselGasoil Comments Off on ‘Germany not 51st US state’: Trade lobby blasts US interference in Nord Stream 2 gas project
Berlin must not bow to any other countries’ “dictation” on its energy policy, the head of a German trade lobby in Russia has said, as he slammed the politicization of the Nord Stream 2 gas pipeline project. “As for issues of energy supply and energy security, Germany must not yield to dictation or influence of Read More

Nike stumbles into social media storm after basketball star's shoe splits

2 days ago DieselGasoil Comments Off on Nike stumbles into social media storm after basketball star's shoe splits
NEW YORK (Reuters) – A Nike Inc sneaker worn by a college basketball superstar split in half less than a minute into a highly anticipated game between Duke University and North Carolina, prompting an outcry on social media as the company sought to figure out what caused the malfunction. Zion Williamson, a 6-foot-7-inch freshman forward Read More