‘Exxon, once a “perfect machine,” is running dry’

first_img FacebookTwitterLinkedInEmailPrint分享Wall Street Journal:Exxon faces a number of challenges, including investigations of its accounting and tax practices as well as lawsuits by cities and states seeking funds to pay for the effects of climate change. Its biggest problem is one the giant has seldom faced in its 148-year history: It isn’t making as much money as it used to.Under former CEO Rex Tillerson, Exxon bet big hunting for oil in risky, expensive locales like the Russian Arctic. But as oil prices fell, those projects didn’t pay off the way Exxon had hoped. Now the $350 billion Irving, Texas, company is returning to its old ways: big, disciplined spending on prospects that make money at low oil prices.The approach is a gamble in a new era of energy breakthroughs such as fracking and electric vehicles. Many of Exxon’s competitors are transforming their businesses to move away from oil exploration, and have begun to spend carefully and diversify into renewable energy.Investors, who once looked past Exxon’s tendency toward arrogance and secrecy because of its good returns, aren’t sure they want Big Oil to get bigger.“Most investors like Exxon, but they like other companies better,” said Mark Stoeckle, chief executive of Adams Funds, which owns about $100 million in Exxon shares. “The market is not willing to reward Exxon for spending today in hopes that it will bring good returns tomorrow.”More ($): Exxon, Once a ‘Perfect Machine,’ Is Running Dry ‘Exxon, once a “perfect machine,” is running dry’last_img read more

Five Dead in Drug Trafficking Ring in Bogotá

first_imgBy Dialogo January 08, 2013 Five men died during a fight between members of the same drug trafficking clan on January 6, in a restaurant located in northern Bogotá, the police reported. “The five dead men have criminal records and are recognized members of a gang called ‘Los Pascuales,’ involved in drug micro-trafficking, theft, murder,” a press member of Bogotá’s Metropolitan Police told AFP. “We don’t know how many people were in the restaurant, but due to certain disagreements, they confronted and opened fire against each other, probably for the territorial domination of the area,” he explained. The dead belong to the same family and most of them are cousins in different degrees. Among them was group leader Pascual Guerrero, the source added. Bogotá, a city with almost seven million people, reduced its murder rate by 23 percent in 2012, compared to 2011. In 2012, the Colombian capital registered a total of 1,281 homicides with a rate of 16.9 per 100,000 inhabitants, the lowest level since 1985, according to the town hall office on January 5.last_img read more

Home Depot to pay $28 million in breach suit

first_imgHome Depot agreed to a multimillion dollar settlement with a class of up to 53 million consumers whose payment card or email data was stolen during the retailer’s 2014 data breach, according to new documents filed in a Georgia District Court.The chain of home improvement stores agreed to pay $13 million to consumers for out-of-pocket losses, unreimbursed charges and time spent dealing with accounts affected by the data breach, as well as at least $6.5 million to provide class members with 18 months of identity protection services. In addition, the retailer will also pay up to $8.775 million in plaintiffs’ attorney fees and expenses. continue reading » 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Sweden to review costs, fund options in premium pension system

first_imgSweden is to review its defined contribution premium pension system (PPM), with the report set to investigate the impact of maintaining the status quo or reducing the number of fund options from the hundreds to 10.Pensionsgruppen – the cross-party group that considers pension reform – said last week that a review had been agreed that would examine the two options outlined in a report published last year.The report at the time said retaining the current system largely unchanged would prioritise a saver’s freedom of choice, but it recommended that savers be required to reaffirm their fund choice in a system that has more than 800 investment options.The more radical proposal put forward last year by Stefan Engström – to limit investment options to 10 funds, likely coordinated with AP7’s default Såfa investment option – would also be investigated, with the impact of the reforms examined by the committee and an emphasis on option one. While the government has yet to set out the precise terms of reference for the review, Pensionsgruppen said in a statement it would examine a number of ways of improving the PPM.As a result, the investigation will examine the legal hurdles to a number of reforms, including allowing the Swedish Pensions Agency, Pensionsmyndigheten, to flag up AP7 Såfa as the best option for investors with little or no financial expertise.Furthermore, the commission will also look at limiting the number of total fund options available to savers, and ways of making the PPM fund supermarket more transparent.Finally, it will also examine how feasible it would be to charge PPM savers fees dependant on how often they use the system’s fund supermarket. A spokesman for Ulf Kristersson, who, as minister for social security chairs Pensionsgruppen, said it had yet to set a deadline for the delivery of the report.The spokesman also said no decision had been reached on who would chair the investigation.last_img read more

More solar streetlights mulled in Bacolod City

first_imgBACOLOD City – Congressman GregGasataya wants to upgrade the streetlight system at the CircumferentialRoad of Bacolod-Silay Airport Access Road. The solar panels charge a rechargeablebattery, which powers a fluorescent or LED lamp during the night./PN This will also ensure public safetyand alleviate the number of criminality in the metro, he said.  Solar street lights are raised lightsources which are powered by solar panels generally mounted on the lightingstructure or integrated in the pole itself.center_img Gasayata said that he alreadyrequested the Department of Public Works and Highways (DPWH) to allocate abudget for the installation of streetlights in the said area, which is about400 meters from Bangga Bata to Bangga Ruins. According to Gasataya, he suggestedthe installation of solar-powered light emitting diode (LED) streetlights atthe Circumferential Road to the DPWH as this be energy and costefficient because they are solely dependent on the heat energy given offby the sun.last_img read more

US, Australia close borders for Chinese arrival

first_imgEarlier, more countries including Russia, Japan, Pakistan and Italyannounced identical travel restrictions. “Travelrestrictions can cause more harm than good by hindering info-sharing, medicalsupply chains and harming economies,” the head of the World HealthOrganization (WHO) said on Friday. The WHOrecommends introducing screening at official border crossings. It has warnedthat closing borders could accelerate the spread of the virus, with travelersentering countries unofficially.(BBC)center_img THE United States and Australiaannounced that they would deny entry to all foreign visitors who had recentlyvisited China, the origin of the virus that emerged last December.last_img read more

Buy-bust yields 11 sachets of ‘shabu’

first_imgThe suspect was detained in the custodialfacility of the Silay City police station, facing charges for violation ofRepublic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002./PN The 42-year-old resident John Villayielded the suspected illegal drugs, a police report showed. Villa was arrested after he soldsuspected shabu to an undercover cop for P3,500 around 3:20 p.m. on Feb 3, thereport added.center_img BACOLOD City – Eleven sachets ofsuspected shabu weighing about six grams valued around P90,000 were seized in abuy-bust operation in Barangay Mambulac, Silay City, Negros Occidental.last_img read more

Taylor: Emirates draw showed fight

first_img Press Association “It is about digging in and making sure we stay in this league because we are in and amongst it (the survival battle) now and we have to make sure we do the job.” Head coach Monk is confident his men – now five points above the drop zone – can steer away from trouble if they continue to believe in their game plan. “I know I will be judged on results, but we have been performing, yet without getting what we deserved,” he said. “A few times we have been sat in the changing room deflated, having not come away with anything, so the draw at Arsenal was vital and it is about momentum now. “We started to build things again against Everton after being very disappointing against West Brom. The performance was a lot better and this against Arsenal has cemented it. “Hopefully we can take it into Norwich and hopefully put on another performance like that.” Garry Monk’s men may not have won since beating Cardiff 3-0 on February 8, but there were plenty of positives to take from Tuesday night’s efforts at the Emirates Stadium. Swansea led through a first-half header from Wilfried Bony, and then refused to give up all hope after Arsenal turned the match around with two goals inside a minute in the second half. Defender Neil Taylor is confident Swansea’s battling 2-2 draw at Arsenal can give them just the lift needed to go on and secure their Barclays Premier League status. The visitors’ endeavour was rewarded when, with just seconds of normal time remaining, Leon Britton pushed into the Arsenal penalty area and stabbed the ball goalwards, which was partially blocked by Per Mertesacker, only to ricochet off goalkeeper Wojciech Szczesny and back onto Mathieu Flamini before rolling into the net. Taylor believes the result – which could have been even better had referee Lee Probert not elected to blow up at the end of four minutes of stoppage time when Jonathan de Guzman looked to be breaking clear on goal – will stand the Swans in good stead for the challenges ahead, which continues with the visit of fellow survival battlers Norwich on Saturday. “It just shows us we have got a bit of character and a bit of fight, and now we have got an extra point on the board which is encouraging,” said Taylor, whose deep left-wing cross was powered past Szczesny by Bony. “We are playing in the Premier League, so every game is pressure. “There are so many clubs that are picking up points here and there and it is not over by a long shot. “I think both ends of the table will go right to the end of the end.” Taylor added: “This league is like that. Weeks can go past and you think ‘God, we have missed two or three games there where we haven’t picked up anything’, which is annoying. “However, this does not change anything for us about Saturday now because it is still a must-win game. last_img read more

Walden trumps Doherty in York

first_img Shaun Murphy was made to work hard before he finally progressed with the 2008 winner holding off Jack Lisowski towards the end of their tie. The “Magician”, who was the beaten finalist here two years ago, came out on top following a topsy-turvy match against Lisowski, advancing after a 6-4 win. Murphy lost the first frame but hit back to claim the next four and was unlucky not to claim a century break in the fourth with 98, only to make amends in the fifth with a score of 103-26 to move 4-1 up. Lisowski pulled one back before 2005 world champion Murphy claimed the next frame and the 23-year-old from Cheltenham attempted to make a comeback as he won the eighth and ninth before his opponent finished the game off with a 67-13 score. Judd Trump showed some ominous form with three centuries as he beat Fraser Patrick 6-3 earlier on Monday. The Bristolian surged into a 4-0 interval lead and though his opponent came back into the game, he had enough of a cushion and was always comfortable. Trump made an 85 break in the first frame and when he made 129 and 130 in the next two, it looked like being a short afternoon’s work. Patrick was in first with 59 in frame four but could not close it out and Trump nicked it for a 4-0 lead. The interval came at a good time for Patrick and he got on the board with a 66 break and then closed further to 4-2. The players shared the next two frames with half-centuries before Trump wrapped up the game with his third century, a 104. Ricky Walden recorded two century breaks as he claimed a comfortable 6-1 victory over three-times finalist Ken Doherty to reach the last 16 of the UK Championship at York’s Barbican Centre. The 32-year-old from Chester made light work of his Irish opponent as he sailed into a 3-0 lead before Doherty pulled one back in the fourth frame which he dominated 65-1. But the world number eight won the next three – the final two with impressive breaks of 129 and 128 respectively – to knock 1997 world champion Doherty out and set up a fourth-round clash against Joel Walker or Stuart Bingham. Trump’s attitude has often been criticised but this season he has won the Australian Goldfields Open, his first ranking tournament win for nearly two years, and reached the final of the recent Champion of Champions event in Coventry. He told BBC Two: “I’ve put the work in a lot more than I have done in the past, probably 50 per cent more. That’s just because of my lack of results in the last couple of seasons, I felt like I’d stood still and everyone else had moved on around me. “When I’m really confident I don’t practice that much because there’s no point boring yourself. But after Australia I played five hours a day solid, phone off and just practice. “I’m trying to concentrate on my snooker and forget going out and stuff like that.” John Higgins produced a vintage showing to beat another former champion Matthew Stevens 6-2. The Scot made breaks of 59, 81, 62 – after Stevens was first in with 61 in frame four – to lead 3-1 at the interval. He then added a 128 and a 52 in a convincing win and put his improved form this week down to a new shorter cueing motion. Higgins next faces Anthony McGill, who claimed a 6-5 comeback victory over Nigel Bond to progress, while David Morris beat David Gilbert 6-2 and will face Stephen Maguire or Mark Williams. Also on Monday evening, Marco Fu saw off Dechawat Poomjaeng 6-3 to set up a last-16 meeting with Murphy – a rematch of the 2008 final – while Matthew Selt overcame Rory McLeod 6-4 in a late finish. Press Associationlast_img read more

Farfan and Mendes junior squash begins today

first_imgTHE Guyana Squash Association (GSA) in collaboration with Digicel will run off the annual Farfan & Mendes Junior Squash tournament at the Georgetown Club Inc. squash courts.This will be the final junior tournament for 2016 and concludes another successful year for Guyana’s junior players.The tournament will commence today and will conclude on Sunday when the finals will be contested. Most of the country’s top junior players will be participating in this tournament.Fifty players have entered the tournament and have been divided into nine categories with players of equal skill levels in each of the categories. Caribbean Girls Under-19 runner–up Taylor Fernandes is the top seed in Category A and will be challenged by Boys Under-13 Caribbean Champion Shomari Wiltshire, Alex Cheeks and the Islam twins Daniel and Anthony.Category B has Makeda Harding, Rebecca Low, Maya Collins, Sarah Lewis, Samuel Ince-Carvahal and Gianni Carpenter contending for the title. Category C comprises Demetrius De Abreu, Michael Alphonso, and the Jonas brothers Lucas and Ethan, while Category D has Makison Fernandes, Kirsten Gomes, Abosaide Cadogan, Aliyah Persaud and Jason Gomes. The other five categories will be equally as competitive as the top four.A few of the players will use this tournament as a warm-up as they will be leaving Guyana shortly to participate in the Canadian and U.S. Junior Squash Open tournaments scheduled to be held December.Matches will be played from 18.00hrs daily with the finals set to commence at 11:00hrs on Sunday.last_img read more