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Oil rout erodes 2nd-quarter profits for U.S. majors Exxon, Chevron

By Ernest Scheyder HOUSTON (Reuters) – Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in profit, as the long crude price rout and tumbling refining income inflicted pain … Continue reading

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Oil rout erodes 2nd-quarter profits for U.S. majors Exxon, Chevron

By Ernest Scheyder HOUSTON (Reuters) – Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in profit, as the long crude price rout and tumbling refining income inflicted pain … Continue reading

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Inmarsat Homes In On Smaller Rival Avanti

Two of the London‎ stock market’s satellite operators are on course to collide in a potential £4bn takeover deal. Sky News has learnt that Inmarsat (Other OTC: IMASY – news) has approached Avanti Communications (LSE: AVN.L – news) about a … Continue reading

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Brexit boost eludes Europe's investment banks, shows growing gap with Wall Street

* European FICC down 6.2 pct y/y * U.S (Other OTC: UBGXF – news) . FICC up 21 pct y/y * Further cost cuts loom By Anjuli Davies and Jamie McGeever LONDON, July 29 (Reuters) – Total (LSE: 524773.L – … Continue reading

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Alphabet and Amazon wind up stellar quarter for big tech

By Anya George Tharakan and Sweta Singh REUTERS – Google parent Alphabet Inc and e-commerce giant Amazon.com Inc capped a blockbuster June quarter for the five biggest U.S. tech companies as their dominance in key markets helped them defy the … Continue reading

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Chevron posts largest quarterly loss since 2001 on weak oil prices

HOUSTON (Reuters) – Chevron Corp, the second largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. While the adjusted results beat Wall Street expectations, they … Continue reading

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Exxon Mobil profit misses expectations; stock slides

HOUSTON (Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil producer, posted a lower-than-expected quarterly profit on Friday due to weak crude prices and refining income, reflecting the broad malaise in the energy sector. Net income slumped to … Continue reading

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Will an Upbeat Federal Reserve Burst the Market Bubble?

It’s pretty clear by now just how dependent the global financial system is on the largesse of the world’s central banks. The Federal Reserve, in particular, has taken on immense importance in the post-crisis world of ultra-low interest rates, aggressive … Continue reading

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UBS sees more tough markets ahead after second quarter earnings beat

By Joshua Franklin ZURICH (Reuters) – Switzerland’s biggest bank UBS on Friday cautioned that tough market conditions would likely continue for the foreseeable future as it posted a 14.5 percent year-on-year drop in second-quarter net profit. The world’s largest wealth … Continue reading

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Baidu earnings fall as user growth ebbs

New York (AFP) – Baidu reported lower second-quarter earnings Thursday as the Chinese Internet giant experienced slower user growth following a scandal over its policies for displaying paid ads. Net income for the quarter ending June 30 was 2.4 billion … Continue reading

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