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GE to merge oil unit with Baker Hughes to create service giant

November 1, 2016 by · Leave a Comment 

General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc , creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices. The deal to create a company with $32 billion in annual revenue will combine GE's strengths in making equipment long-prized by oil producers with Baker Hughes's expertise in drilling and …

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GE to merge oil unit with Baker Hughes to create service giant

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Tata Steel to launch UK sale process by Monday: UK minister

April 6, 2016 by · Leave a Comment 

India's Tata Steel will launch the formal sale process for its British assets by Monday and give a “reasonable” timeframe to find a buyer, Britain's business minister said after meeting the company's chairman in Mumbai. Prime Minister David Cameron's government has sought to broker a deal with potential buyers after Tata Steel put its British operations up for sale last week, threatening thousands of jobs. Tata had said it wanted…

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Tata Steel to launch UK sale process by Monday: UK minister

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Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift

April 6, 2016 by · Leave a Comment 

By Bernie Woodall DETROIT (Reuters) – Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has de-emphasized sales of the model which had been often sold to rental agencies. The company did not say how long it would continue to make …

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Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift

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U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive

April 6, 2016 by · Leave a Comment 

By Diane Bartz and Terry Wade WASHINGTON/HOUSTON (Reuters) – The U.S. government filed a lawsuit on Wednesday to stop Halliburton Co from buying Baker Hughes Inc , arguing the combination of the No. 2 and No. 3 oil services…

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U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive

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Halliburton to slash 5,000 more jobs amid oil slump

February 25, 2016 by · Leave a Comment 

The more than 70 percent fall in global crude prices since mid-2014 has led to a series of job cuts and additional cost-cutting efforts from several companies including the world's largest oilfield services provider, Schlumberger Ltd . Halliburton has already reduced its global headcount by 25 percent, or almost 22,000 employees, since 2014. Halliburton is awaiting regulatory approval for its acquisition of Baker Hughes Inc , and the company said last month it was yet to reach an agreement with U.S. and European regulators about the “adequacy” of proposed divestitures.

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Halliburton to slash 5,000 more jobs amid oil slump

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Halliburton refiles bid for EU approval of $35 billion Baker Hughes buy

November 29, 2015 by · Leave a Comment 

U.S. oil services provider Halliburton Co has refiled a request for EU antitrust approval of its $35 billion bid for smaller rival Baker Hughes , four months after regulators rejected an earlier application because of insufficient data. The European Commission will decide by Jan. 12 whether to clear the deal or open a full investigation…

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Halliburton refiles bid for EU approval of $35 billion Baker Hughes buy