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Schlumberger NV

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  • *First-quarter GDP seen revised down to show contraction. GDP forecast shrinking at a 0.8 percent annual rate. WASHINGTON, May 29- The U.S. economy likely contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls and a resurgent dollar, but activity since has rebounded modestly.

  • Drilling cutbacks drag down job growth in oil patch Wednesday, 27 May 2015 | 10:27 AM ET

    WASHINGTON— Hammered by cheaper oil, drilling firms have laid off workers and dragged job growth lower in states from Texas to North Dakota. Texas lost 8,300 jobs in the sector, the most in six years, while Wyoming lost jobs in the industry for the fifth straight month. Overall, Texas gained 1,200 jobs in April, a small expansion compared to its average monthly...

  • WASHINGTON, May 26- A gauge of U.S. business investment spending plans rose solidly for a second straight month in April and consumer confidence perked up this month, signs economic growth was picking up after sputtering in the first quarter. "These are likely just the first of what is expected to be a large number of reports showing the economy is bursting with new...

  • WASHINGTON, May 26- U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness. "It provides some indication that business capital investment activity might be on the mend," said Millan Mulraine, deputy chief economist at TD Securities in New York.

  • U.S. business spending plans rise solidly in April Tuesday, 26 May 2015 | 8:30 AM ET

    WASHINGTON, May 26- U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a recent long spell of weakness. The Commerce Department said on Tuesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.0 percent...

  • WASHINGTON, May 21- The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, but the underlying trend continued to point to a rapidly tightening labor market. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 274,000 for the week ended May 16, the Labor Department...

  • *Weekly jobless claims rise 10,000. WASHINGTON, May 21- The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, but the underlying trend continued to suggest the labor market was tightening. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 274,000 for the week...

  • Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 274,000 for the week ended May 16, the Labor Department said on Thursday. A Labor Department analyst said there was nothing unusual in the state-level data and no states had been estimated. Outside the energy sector, which has lost thousands of jobs so far this year as...

  • US STOCKS-Wall St little changed, held back by Wal-Mart Tuesday, 19 May 2015 | 11:32 AM ET

    *Wal-Mart biggest drag on Dow, S&P. May 19- U.S. stocks were little changed on Tuesday, constrained by Wal-Mart's weak results and as investors took a breather after a rally that took the Dow Jones industrial average and the S&P 500 to record closing highs the previous day. "I definitely think the markets are overvalued at this time but it's the only place where the...

  • WASHINGTON, May 15- U.S. industrial production unexpectedly fell for a fifth straight month in April due in part to a further decline in oil and gas drilling, suggesting that the economy is growing at only a modest pace in the second quarter. The economy's struggle to pick up steam after a dismal first quarter was underscored by other data on Friday showing a drop in...

  • *New York state manufacturing rebounds. The economy's struggle to pick up steam after a dismal first quarter was underscored by other data on Friday showing a sharp drop in consumer confidence in early May and only a mild rebound in factory activity in New York state. These are not the numbers that would inspire confidence in the Fed to tighten policy, "said Millan...

  • UPDATE 1-BP names former UK MI6 spy chief as director Thursday, 14 May 2015 | 11:00 AM ET

    LONDON, May 14- BP has appointed Britain's former MI6 spy chief and veteran diplomat John Sawers as a non-executive board member in a development highlighting long running links between the British establishment and the oil major. Sawers was the head of Britain's MI6 secret intelligence service from 2009 to 2014. He had previously served as Britain's...

  • NEW YORK, May 14- After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the industry. For him, it is maybe two more projects and then retirement beckons, with a holiday home in Maine that needs work. Industry data show energy firms have cut at least 125,000 jobs worldwide since crude...

  • May 13- Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June. Houston- based Schlumberger also said last month that it plans to cut another 11,000 jobs, bringing the total job cuts...

  • OSLO, May 12- Oil services firm Subsea 7 plans to cuts its workforce by close to 20 percent and reduce its fleet of 39 vessels by up to 11 as global oil and gas firms continue to cut spending after a plunge in crude oil prices dampened activity levels. Subsea 7, which focuses on the North Sea but has a global operation, expects to cuts it workforce by around 2,500 by early...

  • These globetrotters screaming buys: Smart money Tuesday, 12 May 2015 | 7:26 AM ET
    An employee walks through the lobby of Google's Washington, D.C. headquarters.

    Two major research houses on Wall Street recommend getting rid of domestic stocks in favor of multinational names as the dollar weakens.

  • *Average hourly earnings rise three cents. WASHINGTON, May 8- U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, suggesting underlying strength in the economy at the start of the second quarter that could keep alive prospects for a Federal Reserve rate hike later this year. "We see this report as reducing...

  • *Average hourly earnings rise three cents. WASHINGTON, May 8- U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. "We see this report as reducing concerns that weak first-quarter growth...

  • *Average hourly earnings rise three cents. WASHINGTON, May 8- U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. Nonfarm payrolls increased 223,000 as gains in services sector jobs...

  • WASHINGTON, May 8- U.S. job growth likely rebounded last month and the unemployment rate probably dropped to a near seven-year low, signs of a pick up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year. The Labor Department will release its closely followed employment report at 8:30 a.m. on Friday.