May, 2019

• 4 May

  Shell earnings top estimates as natural gas leads the way

  

  Bloomberg Royal Dutch Shell Plc’s first-quarter earnings beat even the highest analyst estimate as its natural gas business led a strong companywide performance. Shares rose. Shell gives a positive ending to a mixed Big Oil earnings season, which showed companies mostly recovering from a worst-in-a-generation downturn but unable to fully insulate themselves against volatile markets. While BP Plc, Chevron Corp. ...

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• 4 May

  Eni to focus on saving African forests to offset CO2 emissions

  

  Bloomberg Eni SpA’s plan to offset emissions from its oil and gas operations will focus on working with African communities to prevent deforestation. The project is part of the Italian energy giant’s goal of removing the equivalent of 20 million tons a year of carbon dioxide from the atmosphere by 2030. On top of efforts to improve operational efficiency and ...

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• 4 May

  TransCanada’s first quarter profit beats estimates

  

  Bloomberg TransCanada Corp. posted first-quarter profit that topped analysts’ estimates, giving the pipeline company momentum as it enters a period that’s likely to feature key legal decisions on some of its major projects. TransCanada is benefiting from increased energy production and a shortage of pipeline capacity that’s keeping its Keystone oil pipeline system and Columbia natural gas system running at ...

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• 4 May

  India’s oil demand grows for 4th month

  Bloomberg India’s oil demand grew for a fourth month in March, although the pace of gains slowed from February as falling vehicle sales weighed on transportation fuel consumption even amid campaigning for federal elections. Total usage of oil products rose 1.3% y/y to 18.9m tonnes in March, according to the oil ministry’s Petroleum Planning & Analysis Cell Demand in the ...

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• 4 May

  India’s Ambani needs $2b to save last bastion

  

  Bloomberg The last stronghold in embattled businessman Anil Ambani’s phone carrier-to-power empire is also developing fault lines. Reliance Capital Ltd, his financial services business that almost doubled its profit in five years, had largely remained insulated from the distress plaguing the wider conglomerate. Now, the company that controls India’s fifth-biggest mutual fund, is racing to close a planned $2 billion ...

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• 4 May

  Jho Low’s empty $39mn Los Angeles mansion to be sold

  Bloomberg US prosecutors and representatives of fugitive Malaysian financier Low Taek Jho want to sell a $39 million mansion in Los Angeles he bought in 2012 with money allegedly stolen from the state-owned 1MDB investment fund. The empty mansion above the trendy Sunset Strip is falling into further disrepair by the day and is costing $690,000 a year in taxes, ...

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• 4 May

  SoftBank considers IPO for $100bn Vision Fund

  Bloomberg A handful of executives at SoftBank Group Corp are weighing the idea of an initial public offering for its Vision Fund, the $100 billion behemoth that has invested in technology companies ranging from Uber Technologies Inc to WeWork Cos. The idea is early stage, said a person familiar with the situation who asked not to be identified because it ...

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• 4 May

  10m North Koreans face food shortages

  Bloomberg About 10 million North Koreans — 40 percent of the population — are in urgent need of food assistance after heat and drought crippled last year’s harvest, according to the UN. The country collected about 4.9 million tonnes of food crops last year, the least in a decade, after a prolonged dry spell and limited agricultural inputs cut yields, ...

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• 4 May

  World’s top internet user taps fake news busters for polls

  

  Bloomberg In the Philippines — where 76 million internet users stay online the longest in the world — just a handful of people spend a few hours each day to fight fake news about the upcoming midterm elections. The Commission on Elections has formed a team of 10 government workers to spot and report misleading online posts to Facebook, with ...

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• 4 May

  Trump confident N Korea’s Kim won’t break promise

  

  Bloomberg President Donald Trump brushed off news of a possible weapons test by North Korea, vowing that leader Kim Jong-un “will do nothing to interfere” and that a denuclearisation deal with the US “will happen.” Saturday’s tweet, posted while Trump was in a motorcade to the Trump National Golf Club in Virginia, was the president’s first response to news that ...

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