Post Tagged with: "Losses"

Source: Reuters

Banks warn of ‘significant losses’ as they exit positions with large U.S. hedge fund


LONDON — Credit Suisse and Nomura warned Monday of “significant” hits to first-quarter results, after they began exiting positions with a large U.S. hedge fund that defaulted on margin calls last week.

While neither Credit Suisse nor Nomura named

March 29, 2021 - 3:30 pm Capital Markets, Closing Bell Story‎, Finance
Source: Reuters

Oil majors wipe $80 billion off books as epidemic, energy transition bite


LONDON  – The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion (60.05 billion pounds) in recent months after revising lower the long-term outlook for fuel prices in the wake …

Source: Reuters

Dow extends losses as tech and energy lead drop, oil hits $37 per barrel level

Fox Business

Stocks extended losses on Wednesday as COVID-19 lockdown fears gripped investors across the globe. Oil slipped nearly 6% to the $37 per barrel level.

The Dow Jones Industrial Average dropped over 900 points or 3%, before bouncing off …

October 28, 2020 - 2:30 pm Closing Bell Story‎, Economy, Finance
Source: CNBC

Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says


The U.S. shale industry is about to enter a period of “great compression” as low oil prices hammer the sector, according to a Deloitte study released Monday.

The firm believes that exploration and production companies could  write down …

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters

Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

Weatherford International plc

Weatherford International (WFT) Targets $1 Billion Cost Savings in 18-24 Months

How? Treat the $1 billion as a thousand $1 million decisions – McCollum

Swiss-based oilfield service giant Weatherford International plc (ticker: WFT) reported a net loss of $256 million, or ($0.26) per share on revenues of $1.46 billion for the …