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Tag Archives: London

British airport runway closed due to suspected oil spill

British airport runway closed due to suspected oil spill

LONDON (AP) — Dozens of flights have been delayed or diverted at London’s Gatwick Airport after its one runway was closed because of a suspected oil spill. The airport said flights were suspended after a “spillage” on the runway at around 10:15 a.m. Monday. The runway reopened about 90 minutes later. According to Gatwick’s website, at least 19 incoming flights ...

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Deep-pocketed institutional funds scaling back emerging markets

stocks

LONDON – Big pension, insurance and sovereign funds may be scaling back investments in emerging markets amid disappointing returns and a darkening outlook for the sector. These deep-pocketed funds — global pension assets alone are worth over $35 trillion — are relatively recent entrants to emerging markets, driven by the collapse in Western bond yields and the need for diversification. ...

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For commodity trading advisors, oil’s downtrend has been a friend

NEW YORK – The nearly two-month-long slide in oil prices to 6-1/2 year-lows has been a boon to many so-called systematic funds, which trade based on technical signals or computer algorithms rather than fundamentals. While most market commentary has focused on the persistent glut in the global market caused by unrelenting OPEC output and surprisingly resilient U.S. shale production, these ...

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Schlumberger to cut 7.5 percent of workforce in 2015

Worldwide oilfield services giant Schlumberger Ltd. Has announced as a part of its fourth quarter results released on January 15 that the company has decided to cut 9,000 jobs companywide. Schlumberger has offices located in Houston, Paris, London and The Hague (Netherlands). A company spokesman told the Houston Chronicle the cuts are “in response to lower commodity pricing and anticipated ...

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Shell, Qatar shelve petrochemical project as oil price falls

THE HAGUE, Netherlands — Shell, Europe’s largest oil producer, and Qatar Petroleum said Wednesday that they are scrapping a planned petrochemicals project in the Gulf nation due to falling energy prices. Shell said in a statement that high costs made the Al Karaana plant “commercially unfeasible, particularly in the current economic climate prevailing in the energy industry.” Oil prices have ...

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Jindal headed to Europe on economic development trip

BATON ROUGE, La. — Gov. Bobby Jindal is headed to Europe, on a trip seeking new foreign investment for Louisiana, with the added opportunity for the possible presidential candidate to burnish his foreign policy credentials. The travel contingent was leaving Sunday for an economic development mission that starts in London and continues in Switzerland and Germany. Jindal, his wife, chief ...

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