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Old 10-30-2009, 11:18 AM
Franc Tireur Franc Tireur is offline
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5,000 jobs to go at Shell as profits plunge 73 per cent

Royal Dutch Shell plans to cut 5,000 jobs as part of cost-cutting to mitigate the impact of the falling oil price.

Shell announced the proposal yesterday alongside third-quarter results showing that profits are down 73 per cent. While they came in far below last year's $10.9bn (6.6bn), profits for this year's third quarter, at $2.99bn, nonetheless beat analysts' predictions.

The oil price has recovered considerably this year and is currently hovering around the $75 per barrel mark, compared with not much more than $30 in January. But Shell's outlook is still bleak, and although the dividend will rise 5 per cent to $0.42 per share – taking the total payout for the quarter to $2.7bn – the company warned it could yet be frozen next year.

Peter Voser, the chief executive, said: "We see some indications that energy demand and pricing are improving, but the outlook remains very uncertain, and we are not expecting a quick recovery.

http://www.independent.co.uk/news/bu...t-1811643.html
 
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Old 10-30-2009, 11:57 AM
Allen Farlow Allen Farlow is offline
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Good! I hate paying $3 a gallon for gasoline.
 
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Old 10-30-2009, 12:07 PM
Franc Tireur Franc Tireur is offline
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When I first came here in US the gallon was $1.24. Now the gallon is around $2.70.

Another example the Pepsi bottle was .69 cents, now it cost $1.50. Basically all the products doubled, except the income
 
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