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In May, German prosecutors searched Daimler offices as part of a fraud probe related into possible manipulation of exhaust-gas after-treatment in diesel cars. A spokesman for the Stuttgart prosecutor’s office on Friday said there was “nothing new” to say about this investigation, which is ongoing. In February 2016 the United States Environmental Protection Agency asked Mercedes-Benz to explain emissions levels in some of its diesel cars. The Stuttgart-based company also reported lower unit sales from its vans division due to delivery delays; and the need to recognize costs related to a European Court of Justice ruling on vehicles using an old coolant.
(Reuters) - Schlumberger NV (SLB.N), the world’s largest oilfield services provider, reported a slight profit how do cufflinks work with buttons beat on Friday but cautioned that North American growth would slow due to transportation bottlenecks and hurt results next quarter, Although quarterly profits rose from a year ago, the company has been hit by slower-than-anticipated growth in the largest U.S, Permian Basin, Production has outpaced available pipeline takeaway capacity and driven prices lower, but Schlumberger expects the bottlenecks to be resolved in the next 12 to 18 months..
“The North America land market is changing pretty rapidly,” Chief Executive Officer Paal Kibsgaard said during a third-quarter earnings call. The “rapid softening” in both hydraulic fracturing activity and pricing seen during the second half of the third quarter will continue at the same pace into the fourth quarter, he added. Schlumberger, the first oilfield service provider to report earnings, is seen as a bellwether for the industry. The company warned investors last month that slowing activity in North America was affecting its business.
Shares of Schlumberger were up 2.3 percent at $59.76, The stock hit an 7-year low this week, Schlumberger said “several key customers” were opting to stop using hydraulic fracturing fleets later this year and into January, “This is presenting terms challenges in terms of white spaces in the calendar,” Kibsgaard said, The company reported a profit of $644 million, or 46 cents per share, up about 18 percent from how do cufflinks work with buttons a year ago, Analysts anticipated earnings of 45 cents, excluding items, according to Refinitiv data..
Schlumberger also echoed concerns cited on previous investor calls that poor oil and gas reservoirs and well performance in North America could prompt production gains to fall short of expectations. Analysts from investment firm Tudor Pickering Holt & Co said the results were within expectations but “unlikely to bring investors rushing off sidelines” and back into the sector. International revenue rose 1.3 percent to $5.22 billion, while revenue from North America jumped about 23 percent to $3.20 billion.
SYDNEY (Reuters) - About 300 staff of National Australia Bank (NAB.AX) have been fired or left the company as a result of internal investigations into wrongdoing, Chief Executive Andrew Thorburn said on Friday, following public revelations of misconduct across the sector, Thorburn said he was ashamed of the bank’s behavior and admitted he had been wrong to oppose a commission of inquiry which has exposed scandal after scandal in the country’s greed-driven banking culture, “It’s been a particularly difficult and shameful year,” how do cufflinks work with buttons Thorburn told a parliamentary committee in his first public comments since the quasi-judicial inquiry began hearing evidence of financial sector wrongdoing earlier this year..
More than 1,200 staff had been questioned about their adherence to the bank’s code of conduct as part of the internal probe, he said. Seven hundred of those questioned were found wanting and over 300, or less than 1 percent of total staff, were “either terminated or have left,” Thorburn said. “If there’s anybody who’s committed a fraud or absolute clear misconduct they’re terminated immediately and files in many cases are handed straight to police,” he said.
A NAB spokeswoman declined to provide further detail about which department the staff worked for or what jobs they held, Thorburn added however that “very few” of the terminations were at executive level, NAB has slashed executive pay and announced the departure of its top consumer banking executive last month after the inquiry how do cufflinks work with buttons uncovered misdeeds in his department, The comments encapsulate just how far the sector has shifted, from defiance before the explosive inquiry began in February, to contrition and apology, Thorburn was the fourth boss of a major bank to appear before the committee in recent weeks, and the fourth to express regret at past misdeeds..