World + Economy

The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba

Surging Chevron, Exxon profits signal oil industry turnaround

Reuters - By Ernest Scheyder HOUSTON (Reuters) - Rising crude prices helped Chevron Corp and Exxon Mobil Corp easily beat analysts' quarterly profit expectations on Friday, setting an upbeat tone as the two…

Latest News

  • The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba
    Surging Chevron, Exxon profits signal oil industry turnaround Reuters

    By Ernest Scheyder HOUSTON (Reuters) - Rising crude prices helped Chevron Corp and Exxon Mobil Corp easily beat analysts' quarterly profit expectations on Friday, setting an upbeat tone as the two companies …

    The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba

    By Ernest Scheyder HOUSTON (Reuters) - Rising crude prices helped Chevron Corp and Exxon Mobil Corp easily beat analysts' quarterly profit expectations on Friday, setting an upbeat tone as the two companies press ahead with shale oil expansions. While cost cuts and asset sales provided a boost to both companies, the …

  • Oil retreats from session high, heads for weekly decline Reuters

    By Julia Simon NEW YORK (Reuters) - Oil prices were little changed on Friday in a see-saw session, retreating from session highs and headed for weekly declines on lingering questions about whether OPEC …

    A pump jack used to help lift crude oil from a well in South Texas? Eagle Ford Shale formation stands idle in Dewitt County Texas

    By Julia Simon NEW YORK (Reuters) - Oil prices were little changed on Friday in a see-saw session, retreating from session highs and headed for weekly declines on lingering questions about whether OPEC will extend output cuts at its May meeting and whether it will reduce a global crude glut enough to boost prices. U.S. …

  • Global equities slip after weak U.S. GDP; euro strengthens Reuters

    By Chuck Mikolajczak NEW YORK (Reuters) - World stock markets dipped on Friday, with U.S. equities losing ground after a soft reading on first-quarter economic growth, while the euro strengthened as euro …

    People walk through the lobby of the London Stock Exchange in London

    By Chuck Mikolajczak NEW YORK (Reuters) - World stock markets dipped on Friday, with U.S. equities losing ground after a soft reading on first-quarter economic growth, while the euro strengthened as euro zone inflation rose to hit the European Central Bank's target. The U.S. economy grew at a 0.7 percent annual rate in …

  • In first 100 days, a reversal of fortune for Trump favorites on Wall Street Reuters

    By Noel Randewich SAN FRANCISCO (Reuters) - A funny thing happened on Wall Street in Donald Trump's first 100 days in the White House: Shares of companies that got closest to the president lagged the …

    A trader looks at a screen that charts the S&P 500 on the floor in New York

    By Noel Randewich SAN FRANCISCO (Reuters) - A funny thing happened on Wall Street in Donald Trump's first 100 days in the White House: Shares of companies that got closest to the president lagged the market's march higher. Meanwhile, stocks from sectors that have had less access, and have faced occasional bluster from …

  • Rising U.S. truck, crossover sales drive GM to record profit Reuters

    By Nick Carey DETROIT (Reuters) - General Motors Co on Friday reported a record quarterly first-quarter profit on robust sales of its large pickup trucks and crossovers in the United States, as uncertainty …

    The GM logo is seen at the General Motors Assembly Plant in Valencia

    By Nick Carey DETROIT (Reuters) - General Motors Co on Friday reported a record quarterly first-quarter profit on robust sales of its large pickup trucks and crossovers in the United States, as uncertainty surrounds the overall pace of domestic auto sales for the industry. The results also underscore a shift where U.S. …

  • Qualcomm warns of profit hit as Apple battle intensifies Reuters

    (Reuters) - Qualcomm Inc slashed its current-quarter profit and revenue forecasts on Friday, amid an escalating legal battle between the chipmaker and Apple Inc. Apple said it had decided to withhold …

    A Qualcomm sign is pictured at one of its many campus buildings in San Diego

    (Reuters) - Qualcomm Inc slashed its current-quarter profit and revenue forecasts on Friday, amid an escalating legal battle between the chipmaker and Apple Inc. Apple said it had decided to withhold royalty payments to its contract manufacturers until the dispute is resolved in court. The payments made by Apple to its …

  • Euro gains on European inflation data, dollar jumps against yen Reuters

    By Sam Forgione NEW YORK (Reuters) - The euro rose against the U.S. dollar on Friday after strong euro zone inflation figures, while the dollar jumped against the yen after U.S. wages data suggested the …

    Dollar, Euro and Pound banknotes are seen in this picture illustration

    By Sam Forgione NEW YORK (Reuters) - The euro rose against the U.S. dollar on Friday after strong euro zone inflation figures, while the dollar jumped against the yen after U.S. wages data suggested the Federal Reserve would still hike interest rates two more times this year. Official flash estimates put euro zone inflation …

  • Google's search for non-ad revenue puts spotlight on cloud, Pixel Reuters

    Alphabet Inc's non-advertising business, which houses its cloud unit, Pixel smartphones and the Play store, has long been sandwiched between Google's advertising juggernaut and its moonshot ventures that …

    FILE PHOTO: Google search page in photo illustration

    Alphabet Inc's non-advertising business, which houses its cloud unit, Pixel smartphones and the Play store, has long been sandwiched between Google's advertising juggernaut and its moonshot ventures that have captured popular imagination. The business now represents about 13 percent of Alphabet's total revenue, compared …

  • Google's search for non-ad revenue puts spotlight on cloud, Pixel Reuters

    Alphabet Inc's non-advertising business, which houses its cloud unit, Pixel smartphones and the Play store, has long been sandwiched between Google's advertising juggernaut and its moonshot ventures that …

    FILE PHOTO: Google search page in photo illustration

    Alphabet Inc's non-advertising business, which houses its cloud unit, Pixel smartphones and the Play store, has long been sandwiched between Google's advertising juggernaut and its moonshot ventures that have captured popular imagination. The business now represents about 13 percent of Alphabet's total revenue, compared …

  • Exxon Mobil profit beats Street as oil prices move higher Reuters

    By Ernest Scheyder HOUSTON (Reuters) - Exxon Mobil Corp , the world's largest publicly traded oil producer, posted a better-than-expected quarterly profit on Friday, helped by rising crude prices  …

    FILE PHOTO: An airplane comes in for a landing above an Exxon sign at a gas station in the Chicago suburb of Norridge

    By Ernest Scheyder HOUSTON (Reuters) - Exxon Mobil Corp , the world's largest publicly traded oil producer, posted a better-than-expected quarterly profit on Friday, helped by rising crude prices and cost cuts. The results reflected the slowly improving dynamics for the company as well as the global energy industry, …

  • ASML files patent countersuit against Japan's Nikon Reuters

    ASML, Europe's largest supplier to semiconductor manufacturers, said on Friday it had filed patent infringement cases against Nikon in Japan, a response to legal action taken by Nikon against the Dutch …

    People are silhouetted against a display of the Nikon brand logo at the CP+ camera and photo trade fair in Yokohama

    ASML, Europe's largest supplier to semiconductor manufacturers, said on Friday it had filed patent infringement cases against Nikon in Japan, a response to legal action taken by Nikon against the Dutch company. The lawsuits involve semiconductor manufacturing equipment, flat panel display manufacturing equipment and digital …

  • Deutsche Post to deliver groceries for AmazonFresh in Germany Reuters

    By Matthias Inverardi BOCHUM, Germany (Reuters) - Deutsche Post DHL won a contract to deliver groceries for Amazon's AmazonFresh service in Germany, which could help ease concerns that the U.S. retailer's …

    A display inside AmazonFresh Pickup, a service launched by Amazon.com Inc, is pictured in the Ballard neighbourhood of Seattle

    By Matthias Inverardi BOCHUM, Germany (Reuters) - Deutsche Post DHL won a contract to deliver groceries for Amazon's AmazonFresh service in Germany, which could help ease concerns that the U.S. retailer's own delivery services are an increasing threat to the German logistics group. "We want to be the service provider …

  • Honda sees auto sales edging up, profit sliding in 2017/18 Reuters

    By Naomi Tajitsu TOKYO (Reuters) - Honda Motor Co <7267.T> forecast a 16 percent fall in operating profit for the current financial year as the Japanese automaker sees higher auto sales being offset by …

    Man walks past Honda Motor cars outside the company's headquarters in Tokyo

    By Naomi Tajitsu TOKYO (Reuters) - Honda Motor Co <7267.T> forecast a 16 percent fall in operating profit for the current financial year as the Japanese automaker sees higher auto sales being offset by a stronger yen and research and development costs. Japan's No. 3 automaker said it expects an operating profit of 705 …

  • Sony sees surge in chip demand pushing profit nearing 20-year record Reuters

    By Makiko Yamazaki TOKYO (Reuters) - Sony Corp on Friday said it expects annual profit to surge 73 percent, closing in on a two decade-old record, as its cash-cow image sensor business recovers from quake …

    Sony Corp's logo is seen on its Crystal LED Integrated Structure display at its headquarters in Tokyo

    By Makiko Yamazaki TOKYO (Reuters) - Sony Corp on Friday said it expects annual profit to surge 73 percent, closing in on a two decade-old record, as its cash-cow image sensor business recovers from quake damage just as smartphone makers start loading handsets with more sensors. Sony forecast 500 billion yen ($4.50 billion) …

  • India court approves $1.18 bln settlement of Tata-DoCoMo dispute: TV Reuters

    The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo, allowing the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture, …

    People attend a product unveiling event of the Japanese mobile communications company NTT Docomo in Tokyo

    The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo, allowing the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture, TV news channels reported on Friday. India's central bank had blocked Tata's offer, saying a rule change in 2016 prevented …

  • Fed moving appropriately; ECB too hesitant: El-Erian Reuters

    The U.S. Federal Reserve is moving appropriately on the path to unwind asset purchases and normalize rates, while the European Central Bank (ECB) may be too hesitant, said Mohamed El-Erian, chief economic …

    FILE PHOTO: The logo of the European Central Bank is pictured outside its headquarters in Frankfurt

    The U.S. Federal Reserve is moving appropriately on the path to unwind asset purchases and normalize rates, while the European Central Bank (ECB) may be too hesitant, said Mohamed El-Erian, chief economic advisor at the Allianz Group. The Fed, ECB and Bank of Japan (BOJ) need policymakers to step up to take action on structural …

  • Japan's Sharp posts narrower loss for the year, cost cuts paying off Reuters

    Sharp Corp on Friday reported a narrower annual loss for the year ended in March, as a cost-cutting drive by Taiwanese owner Foxconn started to show results. The liquid crystal display manufacturer booked …

    FILE PHOTO: People walk past an advertisement for Sharp Corp's Aquos television outside an electronics retail store in Tokyo

    Sharp Corp on Friday reported a narrower annual loss for the year ended in March, as a cost-cutting drive by Taiwanese owner Foxconn started to show results. The liquid crystal display manufacturer booked an annual net loss of 24.9 billion yen ($224.04 million), much less than the 255.97 billion loss the previous year. …

  • Paytm parent One97 set to raise over $1.8 billion from SoftBank: report Reuters

    (Reuters) - One97 Communications, owner of electronics payments provider Paytm, is set to raise more than 120 billion rupees ($1.87 billion) from Japan's SoftBank Group , the Economic Times reported …

    An advertisement of Paytm, a digital wallet company, is pictured at a road side stall in Kolkata

    (Reuters) - One97 Communications, owner of electronics payments provider Paytm, is set to raise more than 120 billion rupees ($1.87 billion) from Japan's SoftBank Group , the Economic Times reported on Friday citing sources. The deal will value Noida-based One97 at about $9 billion and provide a 20 percent stake to …

  • U.S. refiners bet on strong exports to balance market Reuters

    By Jarrett Renshaw and Devika Krishna Kumar NEW YORK (Reuters) - U.S. refiners have come out of maintenance season betting that big exports to Mexico and South America will help alleviate high product …

    A Valero Energy Corp gas station is pictured in Pasadena

    By Jarrett Renshaw and Devika Krishna Kumar NEW YORK (Reuters) - U.S. refiners have come out of maintenance season betting that big exports to Mexico and South America will help alleviate high product inventories and boost margins as the critical summer driving season nears. The first wave of earnings results from several …

  • Investors, South Korean tech suppliers brush off North Korea threat Reuters

    By Jennifer Ablan and Stephen Nellis NEW YORK/SAN FRANCISCO (Reuters) - Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, …

    FILE PHOTO: Toshiba's used-memory chips are seen at an electronics shop in Tokyo

    By Jennifer Ablan and Stephen Nellis NEW YORK/SAN FRANCISCO (Reuters) - Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, but investors are brushing off such concerns and snapping up shares in key exporters, heartened by robust earnings …