Oil majors post higher Q1 profits despite output decline
Royal Dutch Shell and Total SA posted stronger first quarter profits as high oil prices supported earnings despite production drops. Shell profit rose 3.1 percent to 6.89 billion dollars with 3 percent lower volume amid Nigeria facility attacks. Total earnings gained 15 percent to 4.65 billion with 5 percent lower output. Collectively big six producers earned 32.8 billion dollars, signaling continued strength as prices stay firm.
MENTIONED IN THIS ARTICLE
Amsterdam
Netherlands
Royal Dutch Shell PLC
Total SA
Shell
Total
Nigeria
Bolivia
Venezuela
Exxon Mobil Corp
BP PLC
Chevron Corp
ConocoPhillips Co
Oppenheimer & Co
Fadel Gheit
Gheit
April job growth undershoots forecasts in weak payroll report
The Labor Department reported 138000 new nonfarm payrolls in April, below the 199000 expected. Unemployment held at 4.7 percent while hours worked rose 0.5 percent, the largest gain since July, and average hourly earnings climbed 0.5 percent to 16.61 dollars, up 3.8 percent from a year earlier.
MENTIONED IN THIS ARTICLE
Washington
U.S
Labor Department
Dow at six year high as jobs data stokes rate hopes
Wall Street rose with the Dow Jones up 138 to a six year peak after a modest April jobs report. Investors expect slower employment growth to ease inflation and allow the Fed to pause rate hikes despite wage concerns and rising labor costs. JPMorgan Private Bank’s Jack Caffrey said markets focus on softening growth and rising unemployment claims as a path to Fed restraint.
MENTIONED IN THIS ARTICLE
New York Wall Street
Federal Reserve
Fed
Jack Caffrey
Jpmorgan Private Bank
Caffrey
New York Stock Exchange
Wall Street
Pixar Shareholders Approve Disney Takeover
Pixar Animation Studios votes to accept Disney 74 billion dollar stock merger making Steve Jobs Disney's largest shareholder with about seven percent. Pixar becomes a Disney subsidiary while maintaining its Emeryville HQ and brand. executives will assume roles across Disney animation and parks units.
MENTIONED IN THIS ARTICLE
Pixar Animation
Disney
Los Angeles
Pixar Animation Studios Inc
Walt Disney Co
Pixar
Steve Jobs
Jobs
Emeryville
Also Mentioned on This Page
Asa Group
ExxonMobil
Chevron
ConocoPhillips
Royal Dutch Shell
Hess
THE
Associated Press
KRT News Service
AMJ
Jasondjfma
Department of Labor
Dow
Richard Drew
Tom Brown Drilling Company
Texas
Bernadine Mejia
Baron & Budd, P.C
Cae
Permian
Medicaid & Most Insurances
Habla Espanol
Kenneth W. Higgins
D.D
Michelle Anderson
Faudree Road
Odessa
Charles Marie's
Andrews
Jane Smith
Jon and
Jill Smith
Vanity SZ
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