Shell to pay $2 billion in additional EU, UK taxes for the fourth quarter

The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company’s Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. Bloomberg | Bloomberg | Getty Images Oil and gas major Shell said Friday it expects to pay an extra $2 billion in new taxes for the fourth quarter in … Read more

Market pro names stocks that could do well with margins under pressure

Profit margins are getting squeezed as inflation remains at elevated levels, with a slew of companies — including Walt Disney , PepsiCo and Spotify — all warning of margin pressures, casting a pall over earnings growth in the quarters ahead. Patrick Armstrong, chief investment officer at Plurimi Wealth, believes this is the “biggest risk” for … Read more

Markets face crucial summer week, with Fed, earnings and economic data

A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022. Brendan McDermid | Reuters There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting. The two largest U.S. companies — Microsoft and Apple — … Read more

Oil giant Aramco reports record first quarter as oil prices soar

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Oil giant Aramco reported a more-than 80% jump in net profit Sunday, topping analyst expectations and setting a new quarterly earnings record since its IPO. The Saudi Arabian behemoth said net income rose 82% to … Read more

Oil major Shell to write off up to $5 billion in assets after exiting Russia

Royal Dutch Shell products in Torzhok, Russia. Andrey Rudakov | Bloomberg | Getty Images Shell has announced that it will write off between $4 and $5 billion in the value of its assets after pulling out of Russia following the country’s unprecedented invasion of Ukraine. Thursday’s announcement offers a first glimpse at the potential financial impact to … Read more

Putin’s invasion of Ukraine will knock the Russian economy back by 30 years

Russia’s Prime Minister Vladimir Putin addresses a rally at the Manezhnaya Square just outside the Kremlin in Moscow, late on March 4, 2012. Dmitry Astakhov | AFP | Getty Images WASHINGTON — Vladimir Putin’s unprovoked war on Ukraine and the resulting global response will set Russia’s economy back by at least 30 years — close … Read more

Wall Street analysts name their top global stock picks amid market turbulence

Top Wall Street banks have named a raft of global stocks they think will continue to do well amid impending rate hikes and greater market volatility.

Oil giant BP swings to huge profit as soaring commodity prices drive up earnings

The BP company logo is seen outside a petrol station on September 23, 2021 in London, England. Leon Neal | Getty Images News | Getty Images Oil and gas giant BP on Tuesday reported a massive upswing in full-year net profit, supported by soaring commodity prices. The British energy major posted underlying replacement cost profit, … Read more

One of the planet’s largest electrolysers in operation

Animalflora | iStock | Getty Images A 20-megawatt hydrogen electrolyzer described as “one of the world’s largest” has gone into operation, Energy Major Shell said Friday. Located in Zhangjiakou, Hebei Province, China, the electrolyzer will produce green hydrogen for fuel cell vehicles that will be used in Zhangjiakou’s competition zone during the Winter Olympics, which … Read more