Ørsted Danish offshore wind giant Ørsted is cutting jobs and exiting several markets after a “substantially challenging” 12 months and massive impairments and additional costs related to its US offshore projects. Ørsted said Wednesday it […]
Subprime doesn’t mean “low income.” It means “bad credit” – and some is high income. And subprime loans are coming home to roost. By Wolf Richter for WOLF STREET. The balance of auto loans and leases rose by […]
Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks. By Wolf Richter for WOLF STREET. What’s amazing about the mess of the office sector of commercial real […]
Wolf Richter on “This Week in Money,” at HoweStreet.com, recorded on February 1: Enjoy reading WOLF STREET and want to support it? You can donate. I appreciate it immensely. Click on the beer and iced-tea mug to […]
Reported earnings of $2.3 billion; adjusted earnings of $6.5 billion Record $26.3 billion cash returned to shareholders in 2023 Record annual worldwide and U.S. production Announced an 8 percent increase in quarterly dividend to $1.63/share […]
Delivered industry-leading 2023 earnings of $36.0 billion1, generated $55.4 billion of cash flow from operating activities and distributed $32.4 billion to shareholders Leading industry in compounded annual growth rate for earnings excl. identified items and […]
Given that Prime Minister Justin Trudeau’s carbon tax is costing the average Canadian household hundreds of dollars annually when factoring in its negative impact on the economy, how much is it lowering Canada’s greenhouse gas […]
Wind firm Orsted will present its new strategy on Wednesday Company faces dilemma of cutting targets or raising capital Cutting dividend, asset sales could restore confidence -analysts COPENHAGEN, Feb 2 (Reuters) – Orsted (ORSTED.CO), opens new […]
HOUSTON, Feb 2 (Reuters) – After a year marked by oil and gas production setbacks, Chevron Corp on Friday delivered a better-than-expected 10.7% annual gain from the Permian Basin, its top shale-producing region. The company delivered […]
Supply-chain chaos, edgy US-China relations, and scary dependence on China triggered a rethink, now showing up as investments in manufacturing plants. By Wolf Richter for WOLF STREET. In December, companies plowed $18.4 billion into the construction of manufacturing […]
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