Saturday, February 22, 2025
Bank of America CEO Brian Moynihan says U.S. economy starting to ‘come out of the hole’- oil and gas 360

Bank of America CEO Brian Moynihan says U.S. economy starting to ‘come out of the hole’

CNBC The U.S. economy is beginning to recover from shutdowns tied to the coronavirus pandemic, Bank of America CEO Brian Moynihan told CNBC on Thursday. Moynihan cited consumer spending figures from the millions of households using his lender’s credit and debit cards: While transactions collapsed by about 30% in April, it was down by only 5% to 10% in May. “You’re starting to see

Why U.S. energy CEOs will get big payouts despite oil meltdown -oilandgas360 - Reuters

Why U.S. energy CEOs will get big payouts despite oil meltdown

Reuters BOSTON/NEW YORK (Reuters) – National Oilwell Varco Inc (NOV) has had a rough few years: Since 2017, the Houston company, whose drilling equipment is in major oilfields worldwide, has lost two-thirds of its value, costing shareholders a combined $9 billion. Despite that performance, Chief Executive Clay Williams pocketed $3.3 million in stock in late February, solely because his company’s

Oil services firm Subsea 7 to lay off 3,000 following oil market slump- oil and gas 360

Oil services firm Subsea 7 to lay off 3,000 following oil market slump

Reuters OSLO – Oil services firm Subsea 7 announced on Thursday that it will cut its global workforce by a quarter and reduce its fleet of specialized vessels by up to a third to preserve cash following the slump in the oil market. The company said it planned to lay off about 3,000 workers, both contractors and permanent employees, by