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UPDATE 1-Exxon to make $500 mln initial investment in Mozambique LNG project

October 8, 2019 admin Comments Off on UPDATE 1-Exxon to make $500 mln initial investment in Mozambique LNG project

Exxon Mobil plans to invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique. The U.S. oil company’s $30 billion Rovuma LNG project, jointly operated with Italy’s Eni, has a capacity of more than 15 million tonnes a year (mtpa) and is set pump much-needed cash into the southern African nation’s ailing economy. “The Area 4 partners will advance midstream and upstream area project activities of more than $500 million as initial investments,” Exxon head of power and gas marketing Peter Clarke told a ceremony in Mozambique’s capital Maputo …read more […]

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Biggest U.S. index funds oppose most climate proposals in shareholder votes

October 8, 2019 admin Comments Off on Biggest U.S. index funds oppose most climate proposals in shareholder votes

The far-reaching impacts of climate change on companies have investors pressing corporate leaders for action to minimize environmental damage and to maximize disclosure of risks to their businesses. The threats range from more frequent floods or wildfires that imperil major assets to regulations that could undermine profits.

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Deutsche Bank Plans About Half Its 18,000 Job Cuts in Germany

October 8, 2019 admin Comments Off on Deutsche Bank Plans About Half Its 18,000 Job Cuts in Germany

(Bloomberg) — Deutsche Bank AG intends to make about half its 18,000 planned job cuts in Germany as it relies on savings at the retail units to lower costs, according to people familiar with the matter.The lender employed about 41,700 people in its home market at the end of last year, out of a total of 91,700. Outside Germany, London will also be hit especially hard, partly because of Brexit, while the U.S. may see a lower share of front-office cuts once the bank has exited its equities trading business, the people said, asking not to be identified because talks …read more […]

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UPDATE 1-Shoemaker Vans treads warily as China fumes over Hong Kong

October 8, 2019 admin Comments Off on UPDATE 1-Shoemaker Vans treads warily as China fumes over Hong Kong

U.S. sports brand Vans has removed “a small number” of submissions in a sneaker design competition including one apparently giving a shout out to Hong Kong’s pro-democracy protests, as companies weigh the risks of angering China. Global companies are walking a tightrope in their marketing campaigns, fearing a backlash from Chinese customers if deemed to be expressing solidarity with the anti-government protests that have plunged Hong Kong into its worst crisis in decades. The U.S. luxury jewellery retailer Tiffany & Co deleted a twitter advertisement posted on Monday showing a female model with her hand covering her right …read more […]