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Royal Dutch Shell cuts 6,500 jobs - BBC News
Oil giant Royal Dutch Shell has announced it has shed 6,500 jobs as part of cost-cutting plans as it seeks to counter falling oil prices. // &! bbc.in/1OPYI2I - British Gas owner Centrica cuts 6,000 jobs [...] However, the strong performance at British Gas was offset by a collapse in profits at Centrica's oil and gas production division. Profits in this unit fell 78% to £116m as a result of lower oil prices. [...] Centrica appointed Iain Conn as chief executive at the start of this year. He has been conducting a strategic review of the business over the past five months, which has concluded Centrica should concentrate on the British Gas side of the business and reduce its activities in actual energy production, which takes major investment. That is a less attractive business currently, as raw energy costs, such as oil, are around $50-60 a barrel, half the levels of last year. Centrica said it was assuming the oil price would not move far from that for the foreseeable future.
energy  price  2015  Oil  price  recovery  global  economy  China  secular  stagnation  economic  growth  business  cycle  business  confidence  consumer  confidence  deflationary  deflation  disinflation  debtoverhang  sovereign  debt  crisis  Taper  balance  sheet  recession  Richard  Koo  energy  market  renewable  energy  green  energy  energy  security  wind  energy  energy  policy  energy  efficiency  competitive  competitiveness  OPEC  shale  gas  fracking  shalegas  UK  USA  Europe  Japan  debt-fuelled  recovery  debt  monetisation  debt  monetization  fiscal  policy  monetary  policy  austerity  ZIRP  NIRP  QE  productive  investment  asset  allocation  unintended  consequences  unknown  unkown  asset  bubble  speculative  bubbles  hunt  for  yield 
july 2015 by asterisk2a

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