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(Bloomberg) -- Royal Dutch Shell Plc will cut as many as 9,000 jobs as Covid-19 accelerates a companywide restructuring into low-carbon energy.The move reflects the challenge facing Big Oil as the pandemic persists, with some in the industry believing the era of demand growth is already over. As the crisis hastens the shift to cleaner energy, oil majors are axing jobs, taking multibillion-dollar writedowns and even slashing once-sacrosanct dividends.At Shell, job reductions of 7,000 to 9,000 are expected by the end of 2022, including around 1,500 people taking voluntary redundancy this year, the company said Wednesday. It currently has about 83,000 employees. Sustainable annual cost savings of $2 billion to $2.5 billion are predicted by that time.“We have to be a simpler, more streamlined, more competitive organization,” Chief Executive Officer Ben van Beurden said in a statement. “In many places, we have too many layers in the company: too many levels...
We hear it all of the time, “running toll is the cost of a fleet doing business.” While that may be true, there are ways to save time and money on toll and ensure that you are running your fleet in the most efficient way possible – having insight to your fleet’s toll data is essential. ...
(Bloomberg) -- U.S. equity-index futures dropped and European shares fluctuated after an acrimonious American presidential debate highlighted the risk of a contested vote in November. A gauge of the dollar held steady.S&P 500 futures fell as much as 1.3% in the hours after the chaotic sparring between Donald Trump and Democratic hopeful Joe Biden during which the president suggested vote-by-mail could be rife with fraud. The Stoxx Europe 600 opened lower and then recovered as insurance and utility shares advanced.“What we’ve seen from the debate is the reinforcement that if Biden wins, Trump is not going to accept that,” said Chris Weston, head of research at Pepperstone Group Ltd. in Melbourne. “People positioned for an ugly contest afterwards have been validated.”Traders were also recalibrating positions on the final day of this quarter. Walt Disney Co. shares fell in late trading after it said 28,000 workers will be let go in its...
(Bloomberg) -- Stocks dropped and U.S. equity-index futures sank after an acrimonious American presidential debate highlighted the risk of a contested vote in November. A gauge of the dollar held steady.S&P 500 futures fell as much as 1.3% in the hours after the chaotic sparring between Donald Trump and Democratic hopeful Joe Biden during which the president suggested vote-by-mail could be rife with fraud. The Stoxx Europe 600 opened lower, and most Asian markets slipped.“What we’ve seen from the debate is the reinforcement that if Biden wins, Trump is not going to accept that,” said Chris Weston, head of research at Pepperstone Group Ltd. in Melbourne. “People positioned for an ugly contest afterwards have been validated.”Traders were also recalibrating positions on the final day of this quarter. Walt Disney Co. shares fell in late trading after it said 28,000 workers will be let go in its slumping U.S. resort business, marking...
Multiple companies and nations around the world are racing to develop a vaccine to provide some degree of immunity to the coronavirus, which causes the disease COVID-19. The chief executive of GlaxoSmithKline, the world’s largest maker of vaccines, on Tuesday said she was optimistic the industry will be able to make vaccine widely available next year. Salesforce.com's efforts build on tools rolled out in May aimed at modifying the company's business software to help governments make re-opening decisions based on public health data and carry out contact tracing and other tasks related to the pandemic....
Federal Aviation Administration (FAA) Chief Steve Dickson began a two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a milestone for the jet to win approval to resume flying after two fatal crashes. Dickson, a former military and commercial pilot, and other FAA and Boeing pilots took off just before 9 a.m. PDT (1600 GMT) from King County International Airport - also known as Boeing Field - in the Seattle area. The flight is part of the U.S. planemaker's long-delayed quest to persuade the FAA to lift a March 2019 grounding order triggered by 737 MAX crashes in Ethiopia and Indonesia that killed 346 people within a five-month period....
Federal Aviation Administration (FAA) Chief Steve Dickson is due to conduct a two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a key milestone for the jet to win approval to resume flying after two fatal crashes. Dickson, a former military and commercial pilot, and other FAA and Boeing pilots are due to take off around 9 a.m. PDT (1600 GMT) from King County International Airport - also known as Boeing Field - in the Seattle area and land around 11 a.m. (1800 GMT). For Boeing, the flight is another milestone in the U.S. planemaker's long-delayed quest to persuade the FAA to lift a March 2019 grounding order triggered by 737 MAX crashes in Ethiopia and Indonesia within five months that killed 346 people....
