This acquisition boosts Chevron’s existing portfolio, adding assets such as the Stabroek block in Guyana and Hess Bakken, which expands Chevron’s shale position and Permian basin operations. Hess chief executive officer (CEO), John Hess, is expected to join the Chevron Board of Directors. Chevron’s chairman and CEO, Mike Wirth, highlighted the two companies' similar values…
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This allows VCFC to expand into the Saudi Arabian financial sphere and reach a potential six million individual investors. The company also indicated that it is seeking further regulatory approval to provide investment banking, asset management, and mutual funds. During a soft launch between 24 and 26 October at the Future Investment Initiative Forum in…
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Despite this, HM Revenue and Customs data from September of this year presents a promising increase in UK R&D expenditure (Research & Development). After a dip caused by the Covid-19 pandemic, R&D expenditure for 2021-2022 totalled £44.1bn – a hefty and welcomed sum that has worked against interest hikes and ever-increasing inflation rates. Don’t miss…
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The central bank’s continued interest rate hikes, as with those in the US and other countries, ruffled the feathers of the local mortgage market, which sits at an estimated C$2tn. Known as negative amortisation, this irregularity occurs when homeowners can only cover their monthly interest payments and not make a dent in the mortgage itself.…
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According to Yahoo Finance, September’s public net sector borrowing in the UK came in at £14.3bn, 10% less than the year before. This year-on-year drop followed a significant decline in debt interest payments from £7.9bn to £0.7bn. Don’t miss out the latest news, subscribe to LeapRate’s newsletter Having closed 1.2% lower on Thursday, the FTSE…
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Although, new figures predict that the increased demand for electric and hybrid-electric vehicles and increasing energy storage systems will popularise lithium usage and push demand to $2.5 million per metric ton by 2023. In 2023, this figure is expected to hit $1 million per metric ton, a 1.25% increase if the demand trend continues. Bank…
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The company’s Q3 revenue came in at $23.4bn, lower than the predicted $24.06bn mark. Despite this, it is still a 13% increase from the previous year. Tesla’s net income for this period was $2.3bn, again lower than analyst expectations of $2.56bn. Similarly, adjusted earnings per share (EPS) were $0.66 instead of the expected $0.74. In…
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The company reported a 20% decline in its year-on-year net sales. It pinned the lacklustre performance on a decrease in demand for 5G gadgets, especially among US customers. Ericsson, an industry competitor, reported the same sales problem and listed it as one of the reasons for its recent job cuts. The report indicated that planned…
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The Australian and New Zealand dollars each fell 0.6%, with the latter sinking to its lowest level in a year of $0.5815; however, this dip is not unexpected as these currencies are prone to global pendulum swings. Sterling, also subject to peaks and troughs, was down 0.2% at $1.2118, while the euro remained steady at…
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During this meeting, the SEC will evaluate whether the lower transaction prices and rebates going to larger firms with higher trading volumes create an unfair competitive advantage. Reuters reported that before the start of the meeting, SEC officials indicated that the complexity of pricing levels between different exchanges can result in significant cost differences. They…
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