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Tag Archives: Jobs

Stock market shakes off an early loss and turns higher

stock market

NEW YORK (AP) — The stock market turned modestly higher in afternoon trading Friday, after the U.S. government’s disappointing jobs report added to speculation that the Federal Reserve might keep interest rates low for another year. Investors were also weighing tepid U.S. earnings reports and persistent weakness in the global economy. TAKING SCORE: The Dow Jones industrial average rose 77 ...

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Schlumberger cuts more jobs in first quarter

Schlumberger cuts more jobs in first quarter

Schlumberger slashed another 2,000 jobs in the first quarter as the energy industry navigates turbulent market conditions. The company’s global workforce now numbers about 93,000, according to Schlumberger spokesman Joao Felix. “The decline in global activity and the rate of activity disruption reached unprecedented levels as the industry displayed clear signs of operating in a full-scale cash crisis,” Chairman and ...

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Kuwait’s oil minister urges striking union to resume work

Kuwait's oil minister urges striking union to resume work

KUWAIT CITY (AP) — Kuwait’s acting oil minister has urged striking union workers to get back to their jobs, promising the government will not reduce their “core benefits.” The statement by Anas al-Saleh, who’s also finance minister, was carried on the official Kuwait News Agency Monday. Thousands of workers in six oil and petrochemical companies went on strike Sunday to ...

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Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

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Texas jobless at 4.4 percent for February, down 0.1 percent

Texas jobless at 4.4 percent for February, down 0.1 percent

AUSTIN, Texas (AP) — Texas’ unemployment rate in February fell to 4.4 percent, down one-tenth of a percentage point from the previous month, showing job growth in seven of the 11 major industries monitored by the Texas Workforce Commission, the agency said Friday. Education and health services added 6,100 jobs, marking the 37th straight month of gains in those sectors. ...

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US factories increase output in February

US factories increase output in February

WASHINGTON (AP) — U.S. factories produced more machinery, appliances and other goods last month, the second-straight increase in output and a sign manufacturing may be stabilizing after a difficult year. The Federal Reserve said Wednesday that factory production rose 0.2 percent in February, after rising 0.5 percent the previous month. The increases in the past two months follow four declines ...

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Anger in China’s coal country as miners feel left behind

Anger in China's coal country as miners feel left behind

JUNDESHAN, China (AP) — Hanging from a highway overpass two hours’ drive from the Siberian border, a local government banner reads like a last-gasp exhortation to this exhausted coal community: “Improve our structure, change our methods, transform our city.” This area has transformed in dire ways as China has retreated from coal and heavy industry. Li Jiuxian, who hasn’t been ...

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Chevron shifts focus to Texas shale

Chevron shifts focus to Texas shale

Chevron plans to focus on shorter-cycle investments in West Texas shale plays after its larger, long-term investments come into production this year. By the end of the decade, Chevron believes it can nearly triple its oil production in the Permian Basin by increasing its rig count from seven to 14. “Don’t be surprised if by the middle of the next ...

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