October, 2019

• 6 October

  Norway oil coffers about to get giant boost from the North Sea

  

  Bloomberg Equinor ASA has started its Johan Sverdrup oil field, a rare mega-project in the North Sea that’s been a boon for Norway’s offshore industry and now promises to deliver a huge production boost for the country. Discovered in 2010 in an area that had been disregarded by most explorers, the site started production on Saturday and is set to ...

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• 6 October

  Mozambique says Exxon to approve giant LNG project

  

  Bloomberg Mozambique’s government said Exxon Mobil Corp. will sign off on an initial investment decision for a liquefied natural gas project that could cost as much as $33 billion to build — the biggest ever in Africa. A ceremony marking the decision will take place Oct. 8 in Maputo, the capital of the southeast African nation, the Ministry of Mineral ...

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• 6 October

  ‘Permian’ fails to deliver export boost

  Bloomberg Newly commissioned Permian Basin crude pipelines have yet to boost US crude exports, as the ongoing US-China trade war weighs on demand from Asia. The US Census Bureau said exports averaged 2.73 million barrels a day in August, up just 40,000 barrels from a month before. That’s despite the start of two widely anticipated crude pipelines from West Texas ...

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• 6 October

  US energy chief to leave Trump administration by year’s end

  

  Bloomberg Energy Secretary Rick Perry has told confidants he plans to resign from the Trump administration by the end of the year. Perry, an Air Force veteran who was previously Texas’ longest serving governor, was to spend some time in the Oval Office but hadn’t intended to tell President Donald Trump of his departure timeline. Perry’s plan to depart comes ...

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• 6 October

  Apple to increase iPhone 11 output by up to 10%: Nikkei

  

  Bloomberg Apple Inc has told suppliers to increase production of its latest iPhone 11 range by as much as 10% to meet stronger-than-expected sales of the new handsets, the Nikkei Asian Review reported, affirming resilient demand for the company’s most important gadget. The boost would add 7 million to 8 million units to what the Cupertino, Calif-based company had initially ...

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• 6 October

  General Motors, UAW near deal to end strike as pay issues remain

  

  Bloomberg General Motors Co and the United Auto Workers (UAW) moved closer to a deal that would end the strike that’s divided them for almost three weeks. The automaker and union have agreed on most of the key issues, but two main sticking points remain. They are boosting employee pension plans and shortening the length of time required for entry-level ...

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• 6 October

  US factory job losses send new warning to Trump on trade war

  

  Bloomberg President Donald Trump lauded a tight labour market as the unemployment rate hit a 50-year low. He didn’t mention job losses appearing in manufacturing, a key industry for his base of supporters. Total payrolls at factories contracted by about 2,000 in September, when economists had expected a 3,000 gain. The data was released as part of the monthly jobs ...

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• 6 October

  Google joins Ivanka Trump vow to train workers

  Bloomberg Google Chief Executive Officer Sundar Pichai announced that the internet-search giant is signing on to presidential daughter and senior adviser Ivanka Trump’s pledge to train American workers. At an event in Dallas, Pichai said Google planned to provide training for 250,000 workers over the next year and provide a $3.5 million education grant. The Alphabet Inc unit will offer ...

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• 6 October

  Chevrolet sends convertible Corvette into market headwinds

  

  Bloomberg The 2020 Chevrolet Corvette Convertible, which debuted at the Kennedy Space Center in Florida, is the first Vette in history to have a hard, retractable roof, rather than one made of canvas. The hardtop on the new mid-engine Corvette Stingray Convertible folds seamlessly into the body, maintaining the fighter jet-inspired lines of the coupe version, providing a quieter cabin, ...

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• 6 October

  North Korea says nuclear talks broke down, but US disagrees

  

  Bloomberg North Korea said it’s not keen to hold more talks with the US until measures are taken to withdraw Washington’s “hostile policy” towards Pyongyang, South Korea’s Yonhap News Agency reported. The US was using the latest talks in Stockholm for the benefit of its domestic politics, the Yonhap report said, citing a statement from the North Korean foreign ministry. ...

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