Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Singapore Summitread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Singapore Summitread more
* Expects to distribute $125 bln between 2021-25
* To raise spending to average of $30 bln after 2020
* Shares down 1.3% (Adds detail, shares)
LONDON, June 4 (Reuters) - Royal Dutch Shell on Tuesday outlined plans to increase spending and dividends after 2020 in a show of confidence despite an uncertain outlook for oil and gas prices.
In a strategy update, the Anglo-Dutch energy company also outlined a vision for a future business that focuses more heavily on its gas, power and chemicals divisions as the world transitions to a lower-carbon economy.
The plans to increase spending on oil and gas projects come as Shell set out the sector's most ambitious targets to reduce greenhouse gas emissions from its operations in an effort to comply with the 2015 Paris climate agreement.
Shell shares were down 1.3% in early trading.
Shell said it was on track to deliver on its commitment to increase cash generation and carry out one of the world's largest share buyback programmes of $25 billion by the end of next year.
The world's second-largest listed oil and gas company after Exxon Mobil, underwent deep cost cuts following its 2016 acquisition of BG Group for $53 billion and the collapse of oil prices in late 2014.
Despite a slow and bumpy recovery in oil prices, it reported the largest profit among its peers last year and a jump in revenue from previous years.
"It is the success of our strategy and strength of our delivery today that gives us confidence for the future," Chief Executive Officer Ben van Beurden said in a statement.
Shell said its free cash flow - cash available for dividends and share buybacks - is set to rise to around $35 billion per year by 2025 based on a Brent crude oil price of $60 per barrel.
That compares with $28-33 billion in free cash flow it expects to deliver by the end of next year.
It said the cash delivery "creates the potential to distribute $125 billion or more to shareholders" in the form of dividends and share buybacks between 2021 and 2025.
That compares with distributions of around $90 billion between 2016 and 2020.
SPENDING MORE, GIVING MORE
Shell expects to increase its dividend payouts to shareholders once it completes the $25 billion share buyback by the end of 2020 it promised following its BG acquisition.
Shell, the world's biggest dividend payer at $16 billion a year, last increased its quarterly dividend in the first quarter of 2014 to $0.47 per share.
But while offering sweeteners to investors, Shell also outlined plans to increase its spending in the next decade. Rival Exxon and Chevron also plan to increase spending.
Shell said its capital spending will average $30 billion per year between 2021 and 2025, with a ceiling of $32 billion.
The target excludes major acquisitions.
Shell has in recent years vowed to maintain its spending at the lower end of a $25-30 billion range. It spent $24.8 billion in 2018.
(Reporting by Ron Bousso; editing by Jason Neely and Louise Heavens)