U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The office has long been a breeding ground for budding romances. But actively going into business with your other half is another thing entirely.Successread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.Politicsread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
Royal Dutch Shell's second quarter profits slumped to a 30-month low due to lower oil and natural gas prices and refining margins, falling far short of forecasts.
The Anglo-Dutch company reported on Thursday a rise in cash generation — a sign of improving operations — but the drop in profit dents a steady recovery since the end of 2016.
"We have delivered good cash flow performance, despite earnings volatility, in a quarter that has seen challenging macroeconomic conditions in refining and chemicals as well as lower gas prices," Chief Executive Officer Ben van Beurden said in a statement.
Net income attributable to shareholders in the quarter, based on current cost of supplies (CCS) and excluding identified items, dropped 25% to $3.6 billion from a year ago.
That compared with a profit forecast of $4.93 billion, according to a company-provided survey of analysts.
Cash flow, a key measure for the Anglo-Dutch company, rose to $11 billion from $9.5 billion a year ago.
Free cash flow — cash available to pay for dividends and share buybacks — dropped to $6.9 bilion.
Shell has focused on cash generation as a key measure of growth, targeting free cash flow of $25 to $30 billion a year between 2019 and 2021 and as much as $35 billion by 2025.
Rival BP on Tuesday reported stronger-than-expected profit in the quarter, which was largely unchanged from a year earlier, while France's Total and Norway's Equinor both reported sharp falls in earnings.