Sectors News Results

  • A Record-Breaking Economic Boom Is About to Go Bust

    SYDNEY--The developed world's longest ongoing economic expansion is approaching its expiration date. Australia's 28- year growth streak survived a regional economic crisis in the 1990 s, a global economic crisis in the 2000 s, and a boom-bust cycle in its core commodity sector in the 2010 s. Now, a recession looms after the economy contracted in the first three months of the year, as catastrophic bush fires and restrictions to slow the spread of the new coronavirus took a heavy...

  • Norwegian Fund Excludes Large Canadian Oil Producers -- Update

    TORONTO-- Norway's sovereign wealth fund said Wednesday that it is blacklisting four of Canada's largest oil producers from its trillion-dollar portfolio, citing high carbon emissions from their operations. The decision delivered another blow to Canada's reeling oil industry, which is struggling with low oil prices and limited access to global markets. The Norwegian fund, which had more than $1.1 trillion in assets at the end of 2019, making it one of the world's largest...

  • Norwegian Fund Excludes Large Canadian Oil Producers

    TORONTO-- Norway's sovereign wealth fund said Wednesday that it is blacklisting four of Canada's largest oil producers from its trillion-dollar portfolio, citing high carbon emissions from their operations. The decision delivered another blow to Canada's reeling oil industry, which is struggling with low oil prices and limited access to global markets. The Norwegian fund, which had more than $1.1 trillion in assets at the end of 2019, making it one of the world's largest...

  • Correction to Steelmakers Article on Sunday

    United States Steel Corp. (X) has delayed $200 million in upgrades to a coal-coking plant near Pittsburgh. "Steelmakers Suffer Worst Slump in a Decade," at 8:14 a.m. ET on April 19, incorrectly said that work would cost $200,000.. (END) Dow Jones Newswires 04-21-20 1509 ET Copyright (c) 2020 Dow Jones& Company, Inc..

  • Steelmakers Suffer Worst Slump in a Decade

    U.S. steel companies are slashing production to match a sharp collapse in demand caused by manufacturers idling plants to slow the coronavirus pandemic. The U.S. steel industry has fallen into its most severe downturn since the 2008 financial crisis. United States Steel Corp. (X), ArcelorMittal (MT) and other steelmakers are ratcheting back output and shedding workers, anticipating that orders and prices will fall further.

  • Texas Regulators Weigh Historic Oil Cuts After Coronavirus--Update

    Texas regulators on Tuesday debated curtailing oil output in the state in response to cratering demand caused by the new coronavirus. The virtual discussion by the Railroad Commission of Texas over whether to limit production-- a step the state hasn't taken since the 1970 s-- attracted numerous oil industry leaders, including the heads of shale producers Pioneer Natural Resources Co., Parsley Energy Inc. (PE) and Marathon Oil Corp. (MRO). It quickly became apparent that the industry was...

  • Texas Regulators Weigh Historic Oil Cuts After Coronavirus

    Texas regulators on Tuesday debated curtailing oil output in the state in response to cratering demand caused by the new coronavirus. The virtual discussion by the Railroad Commission of Texas over whether to limit production-- a step the state hasn't taken since the 1970 s-- attracted numerous oil industry leaders, including the heads of shale producers Pioneer Natural Resources Co., Parsley Energy Inc. (PE) and Marathon Oil Corp. (MRO). It quickly became apparent that the industry was...

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