BP cuts over 5% of workforce to reduce costs
By Ron Bousso LONDON (Reuters) -BP will cut over 5% of its global workforce, it said on Thursday, as part of CEO Murray Auchincloss’ efforts to reduce costs and rebuild investor confidence in the energy giant. Around 4,700 employees and 3,000 contractor
Colonial Pipeline expects Line 1 to restart earlier-than-expected on Friday
(Reuters) – Colonial Pipeline has made progress in identifying the source of a leak on its main gasoline artery and estimates Line 1 will restart earlier-than-expected on Friday, the company said on Thursday. This post appeared first on investing.com
China expected to hit 2024 GDP target, but tariffs loom
By Kevin Yao BEIJING (Reuters) – China’s economy likely rebounded in the fourth quarter as several rounds of policy stimulus kicked in, enabling the government to largely meet its 2024 growth target, though the risk of new U.S. tariffs could hold
SEC settles charges against US hedge fund over investment model vulnerabilities
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday settled charges against hedge fund Two Sigma over failure to address known vulnerabilities in its investment models, the regulatory agency said. Two Sigma voluntarily repaid $165 million to
Trump’s US Treasury pick says question of debt limit repeal is ‘nuanced’
(Reuters) – Scott Bessent, U.S. President-elect Donald Trump’s choice to head the Treasury Department, on Thursday said the question of eliminating the U.S. debt limit is “nuanced,” but said if Trump wants to do so he will work with him