By (Reuters) - A political shift in the United States has unlocked an estimated $1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November.Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian Capital Advisors estimates, as prices have risen on a promise of federal decriminalization of marijuana and a host of other reforms by the incoming Biden administration.Canadian pot companies have been the largest beneficiaries of the rally in shares, owing...…By (Reuters) - A political shift in the United States has unlocked an estimated $1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November.Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian Capital Advisors estimates, as prices have risen on a promise of federal decriminalization of marijuana and a host of other reforms by the incoming Biden administration.Canadian pot companies have been the largest beneficiaries of the rally in shares, owing...WW…

By , , (Reuters) - U.S. oil majors Chevron Corp and Exxon Mobil Corp cut spending aggressively in the third quarter in a race to offset weak trends in fuel demand caused by the COVID-19 pandemic, though the former managed a slim profit.Exxon posted its third straight quarter of losses on Friday and reduced spending plans for the coming year.In common with others in the sector, the two are laying off a substantial portion of their workforce and expect to cut costs further as they try to reverse years of weak stock performance, worsened by the impact of movement restrictions.U.S. oil prices...…By , , (Reuters) - U.S. oil majors Chevron Corp and Exxon Mobil Corp cut spending aggressively in the third quarter in a race to offset weak trends in fuel demand caused by the COVID-19 pandemic, though the former managed a slim profit.Exxon posted its third straight quarter of losses on Friday and reduced spending plans for the coming year.In common with others in the sector, the two are laying off a substantial portion of their workforce and expect to cut costs further as they try to reverse years of weak stock performance, worsened by the impact of movement restrictions.U.S. oil prices...WW…

By (Reuters) - U.S.-listed shares of major cannabis producers surged on Thursday after Democratic vice president nominee Kamala Harris said marijuana would be decriminalized at a federal level in the United States under a Biden administration.During Wednesday night’s debate with Vice President Mike Pence, Harris said she and Democratic presidential nominee Joe Biden would also expunge the criminal records of people convicted of marijuana-related offences in the past.Even though many U.S. states have legalized marijuana use, banks and other traditional financial institutions have so far...…By (Reuters) - U.S.-listed shares of major cannabis producers surged on Thursday after Democratic vice president nominee Kamala Harris said marijuana would be decriminalized at a federal level in the United States under a Biden administration.During Wednesday night’s debate with Vice President Mike Pence, Harris said she and Democratic presidential nominee Joe Biden would also expunge the criminal records of people convicted of marijuana-related offences in the past.Even though many U.S. states have legalized marijuana use, banks and other traditional financial institutions have so far...WW…

By Like most of its peers in an industry struggling with the collapse of oil prices this year, Chevron is cutting spending, consolidating business units, and has asked some managers to reapply for their jobs.Figures from the end of last year show that less than a quarter of Chevron’s U.S. executives and senior managers were female, and only 22% were from ethnic minorities.In an email sent to employees this week and seen by Reuters, Chief Human Resources Officer Rhonda Morris said the company selected 26% women for global roles in a second round of appointments and, in the United States, 29%...…By Like most of its peers in an industry struggling with the collapse of oil prices this year, Chevron is cutting spending, consolidating business units, and has asked some managers to reapply for their jobs.Figures from the end of last year show that less than a quarter of Chevron’s U.S. executives and senior managers were female, and only 22% were from ethnic minorities.In an email sent to employees this week and seen by Reuters, Chief Human Resources Officer Rhonda Morris said the company selected 26% women for global roles in a second round of appointments and, in the United States, 29%...WW…