Baker Hughes shows bigger losses on component shortages, rising costs

Baker Hughes shows bigger losses on component shortages, rising costs

Baker Hughes on Wednesday posted a bigger loss in its second quarter as the oilfield services company faced component shortages, rising supply chain costs and the suspension of Russian operations. CEO Lorenzo Simonelli said the next year or so would mean a unique situation for oil markets. While the demand outlook is crumbling due to … Read more

Calpers reports a loss of 6.1% for its fiscal year

Calpers reports a loss of 6.1% for its fiscal year

The California Public Employees’ Retirement System returned a negative 6.1% for the year ended June 30, the fund said Wednesday. The loss in the country’s largest pension fund reflects the gloomy investment climate for both institutional and household savers over the past 12 months. It’s also bad news for other pension funds around the country, … Read more

Natural gas remains Putin’s weapon of choice

Natural gas remains Putin’s weapon of choice

Twenty percent capacity on the Nord Stream gas pipeline is an ideal number to keep global gas markets on edge. Russian President Vladimir Putin said late Tuesday that gas flows would restart this week on the vital artery into Europe, but that it could be as low as 20% of capacity. This avoids the worst-case … Read more

China Evergrande prepares to shed light on restructuring as creditors’ patience wears thin

China Evergrande prepares to shed light on restructuring as creditors’ patience wears thin

China Evergrande Group has yet to reach an agreement with its international bondholders on a restructuring of the troubled property giant, according to people familiar with the matter, as a self-imposed July deadline to unveil an interim plan looms. The Chinese property developer, which has more than $300 billion in liabilities, defaulted on its US … Read more

Ukraine seeks to delay debt payments

Ukraine seeks to delay debt payments

Ukraine is asking Western investors for permission to delay payments on billions of dollars in bonds, underscoring the economic strain the war with Russia has put on Kiev. Kyiv said this week it wanted to push back payments of interest and principal on a clutch of dollar- and euro-denominated government bonds by two years.

Green hydrogen is cheaper than LNG in Europe

Green hydrogen is cheaper than LNG in Europe

Green hydrogen now costs less than natural gas in eight European countries. LNG prices will come back down to earth, but not without leaving a lasting impact on the multipurpose wonder fuel. High LNG prices mean green hydrogen – produced by a renewable electrolyser that splits water – is cheaper to burn than natural gas … Read more

China Evergrande prepares to shed light on restructuring as creditors’ patience wears thin

China Evergrande prepares to shed light on restructuring as creditors’ patience wears thin

China Evergrande Group has yet to reach an agreement with its international bondholders on a restructuring of the troubled property giant, according to people familiar with the matter, as a self-imposed July deadline to unveil an interim plan looms. The Chinese property developer, which has more than $300 billion in liabilities, defaulted on its US … Read more

Stock futures rise ahead of earnings, housing data

Stock futures rise ahead of earnings, housing data

US stock futures ticked higher ahead of home sales numbers and another set of big corporate earnings reports.

UCLA’s Big Ten Story

UCLA’s Big Ten Story

The school claims that athletic contests in states on California’s banned list will be voluntary for coaches, staff and players.

Chinese regulator fines Didi more than $ 1 billion for data security breaches

Chinese regulator fines Didi more than $ 1 billion for data security breaches

SINGAPORE – Chinese authorities prepare to impose a fine of more than $ 1 billion on the transport company Didi Global bring an end to a years-long study of the company’s cybersecurity practices, according to people familiar with the issue. Once the penalty is revealed, the government plans to ease a restriction banning Didi from … Read more