The executive board of Brazil's state-run oil company Petroleo Brasileiro SA approved the sale of the company's stake in two oil prospects in Uruguay's Punta del Oeste Basin to Royal Dutch Shell Plc for $17 million, according to a filing late on Friday.
The company, known as Petrobras, is selling oil fields, exploration rights, refineries and other assets to help finance a $237 billion, five-year investment plan.
"We are not very ambitious. I should be careful about talking about work-life balance, but the Americans just work harder.”
In his 2016 letter to Berkshire Hathaway shareholders, legendary investor Warren Buffett wrote, “Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, it’s imperative that we ...
As US growth shows signs of sputtering and inflation keeps rising, a re-run of the tumultuous 1970s is looking more likely.
The combination of artificial intelligence (AI) and cybersecurity is a match made in heaven.
Rooting for Donald Trump to fail has rarely been this profitable. Just ask a hardy band of mostly amateur Wall Street investors who have collectively made tens of millions of dollars over the past month by betting that the stock price of his social media business — Truth Social — will keep dropping despite massive buying by Trump loyalists and wild swings that often mirror the candidate’s latest polls, court trials and outbursts on Trump Social itself.
Microsoft reported better than anticipated Q3 earnings on Thursday, powered by growth in its cloud products.
Intel stock dropped 9% after the company reported Q1 earnings. Is it a buy right now?
As U.S. inflation worries grow, some investors are preparing for the 10-year U.S. Treasury yield to breach a 16-year high of 5% hit last October. Bond yields, which move inversely to prices, have climbed in recent weeks as signs of persistent inflation erode expectations for how deeply the Federal Reserve will be able to cut interest rates without further fueling consumer prices. Many investors are betting further weakness lies ahead for bonds.
This company told investors it might go out of business.
HOUSTON (Reuters) -Exxon Mobil Corp on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources, posted first-quarter earnings of $8.22 billion, or $2.06 per share, compared to an $11.43 billion net profit a year ago. Earnings from oil and gas production fell 14% on lower natural gas prices and refining tumbled 67% on weaker margins and investment and tax costs.