baker-hughes

GE to merge oil unit with Baker Hughes to create service giant

General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc , creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices. The deal to create a company with $32 billion in annual revenue will combine GE's strengths in making equipment long-prized by oil producers with Baker Hughes's expertise in drilling and …

Here is the original post:
GE to merge oil unit with Baker Hughes to create service giant

baker-hughes

Tata Steel to launch UK sale process by Monday: UK minister

India's Tata Steel will launch the formal sale process for its British assets by Monday and give a “reasonable” timeframe to find a buyer, Britain's business minister said after meeting the company's chairman in Mumbai. Prime Minister David Cameron's government has sought to broker a deal with potential buyers after Tata Steel put its British operations up for sale last week, threatening thousands of jobs. Tata had said it wanted…

View post:
Tata Steel to launch UK sale process by Monday: UK minister

baker-hughes

Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift

By Bernie Woodall DETROIT (Reuters) – Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has de-emphasized sales of the model which had been often sold to rental agencies. The company did not say how long it would continue to make …

Read more here: 
Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift

baker-hughes

U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive

By Diane Bartz and Terry Wade WASHINGTON/HOUSTON (Reuters) – The U.S. government filed a lawsuit on Wednesday to stop Halliburton Co from buying Baker Hughes Inc , arguing the combination of the No. 2 and No. 3 oil services…

Read the rest here: 
U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive

baker-hughes

Halliburton to slash 5,000 more jobs amid oil slump

The more than 70 percent fall in global crude prices since mid-2014 has led to a series of job cuts and additional cost-cutting efforts from several companies including the world's largest oilfield services provider, Schlumberger Ltd . Halliburton has already reduced its global headcount by 25 percent, or almost 22,000 employees, since 2014. Halliburton is awaiting regulatory approval for its acquisition of Baker Hughes Inc , and the company said last month it was yet to reach an agreement with U.S. and European regulators about the “adequacy” of proposed divestitures.

Read the rest here: 
Halliburton to slash 5,000 more jobs amid oil slump

baker-hughes

Halliburton refiles bid for EU approval of $35 billion Baker Hughes buy

U.S. oil services provider Halliburton Co has refiled a request for EU antitrust approval of its $35 billion bid for smaller rival Baker Hughes , four months after regulators rejected an earlier application because of insufficient data. The European Commission will decide by Jan. 12 whether to clear the deal or open a full investigation…

More here:
Halliburton refiles bid for EU approval of $35 billion Baker Hughes buy