Along with never invading Russia or getting into a Twitter argument, we can add another golden rule — this one specifically for US oil majors: Never buy a shale-gas business. Chevron Corp.’s $10-11 billion impairment relates mostly to the Appalachian gas assets it picked up in 2011’s $4.9 billion acquisition of Atlas Energy Inc. Back then, the Permian basin was ...

Federal Reserve Chair Jerome Powell and his colleagues sent a message with their final interest-rate decision of 2019: Don’t expect us to be subject to the whims of America’s ever-shifting trade policy in the year ahead. The Federal Open Market Committee, in its first unanimous decision since May, kept its benchmark lending rate unchanged in a range of 1.5% to ...

Yes Bank Ltd.’s latest $2 billion rescue plan was perfect except for one minor detail: Most suitors for the beleaguered Indian lender aren’t the kind the board can really take to meet the regulator for tea. Yet in a five-hour meeting, the directors decided to do exactly that. Jane Austen would have been proud of their desperation to marry off ...