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Oil giants lost billions as pandemic crushed demand for fuel

Oil giants lost billions as pandemic crushed demand for fuel

AP NEWS https://apnews.com/article/virus-outbreak-tx-state-wire-financial-markets-business-ca-state-wire-b45420c9d0fe9aac5341da6ec13b71edClick to copyhttps://apnews.com/article/virus-outbreak-tx-state-wire-financial-markets-business-ca-state-wire-b45420c9d0fe9aac5341da6ec13b71edClick to copyRelated topicsNEW YORK (AP) — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world.Exxon lost $1.1 billion in the second quarter, and the...

July 31, 2020
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Exxon profits drop as most of world stays home, forgoes fuel

Exxon profits drop as most of world stays home, forgoes fuel

AP NEWS https://apnews.com/article/4b0fd407e512fc5f3bd2c1afd39b8201Click to copyhttps://apnews.com/article/4b0fd407e512fc5f3bd2c1afd39b8201Click to copyRelated topicsNEW YORK (AP) — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in the first quarter, down 126% from the same time last year, the Irving, Texas oil giant said Friday.Revenue was $56.16 billion, down 12% from the same quarter in 2019.Fewer people flew or drove as the world fought to contain the spread of COVID-19, decreasing the need...

May 1, 2020
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Biden plan for cleaner power system faces daunting obstacles

Biden plan for cleaner power system faces daunting obstacles

AP NEWS https://apnews.com/article/environment-and-nature-wind-power-business-government-and-politics-joe-biden-da3d7d01c7e60db8433b1dfa1a02bd99Click to copyhttps://apnews.com/article/environment-and-nature-wind-power-business-government-and-politics-joe-biden-da3d7d01c7e60db8433b1dfa1a02bd99Click to copyRelated topicsNEW YORK (AP) — If the nation is to meet President Joe Biden’s goal of cutting America’s greenhouse gas emissions in half by the end of the decade, it will have to undertake a vast transformation toward renewable energy.And to achieve that, the near-impossible will be...

April 27, 2021
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Delivery giant DoorDash plans IPO

Delivery giant DoorDash plans IPO

AP NEWS https://apnews.com/article/door-dash-plans-ipo-a22e9f1d4db68b360c14f52c89423f5aClick to copyhttps://apnews.com/article/door-dash-plans-ipo-a22e9f1d4db68b360c14f52c89423f5aClick to copyRelated topicsNEW YORK (AP) — Delivery giant DoorDash Inc. is planning to sell its stock to the public, capitalizing on the growing trend of consumers embracing app-based deliveries as much of the world stays home during the pandemic.The San Francisco-based company filed papers signaling its intent for initial public offering Friday.More Stories:“Technology has changed consumer behavior and driven a...

November 13, 2020
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Appeals court gives reprieve to Uber, Lyft in California

Appeals court gives reprieve to Uber, Lyft in California

AP NEWS https://apnews.com/article/virus-outbreak-ap-top-news-ca-state-wire-technology-business-f154820115040c364abb4383188e0780Click to copyhttps://apnews.com/article/virus-outbreak-ap-top-news-ca-state-wire-technology-business-f154820115040c364abb4383188e0780Click to copyRelated topicsBERKELEY, Calif. (AP) — An appeals court has allowed ride-hailing giants Uber and Lyft to continue treating their drivers as independent contractors in California in a decision that will give the two companies a few more months to protect their business models in a key market. The stay pauses a lower-court...

August 20, 2020
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