Halliburton

Leading American multinational corporation Halliburton will pay USD 275,000 to two of its Muslim employees of Indian and Syrian-origins who were subjected to religious discrimination and accused of having links with terrorists by the company's employees.

Gains were also supported by a warning from Halliburton's executive chairman that the growth in North American rig count was "showing signs of plateauing," clouding a boom in U.S. shale oil production.

The new company will still be called Baker Hughes, but GE will own 62.5 per cent of it. Halliburton Co attempted a buyout of its rival earlier this year, but abandoned the $35 billion bid after US antitrust regulators stepped in.

Halliburton Co has said it cut more than 6,000 jobs in the first quarter, continuing a purge at the oil field services company that has reduced its workforce by one-third since late 2014.

U.S. economic growth slowed in the fourth quarter, but not as sharply as previously estimated, with fairly strong consumer spending offsetting the drag from efforts by businesses to reduce an inventory overhang.

State-run Oil and Natural Gas Corporation Ltd, India's biggest explorer, plans to enter into partnerships with overseas oilfield service providers to boost output from ageing oil and gas fields, its chairman said.

The agreement adds to the $43.8 billion that BP had previously set aside for criminal and civil penalties and cleanup costs.

The Halliburton-Baker Hughes deal marries two of the biggest oil services companies at a time when oil companies are expected to trim capital spending due to the drop in crude prices. Halliburton dropped 10.6 percent, while Baker Hughes jumped 8.9 percent.

Merger and acquisition news offset the declines as Halliburton said it would buy Baker Hughes and Allergan agreed to be bought by Actavis.

A U.S. judge has decided that BP Plc was "grossly negligent" and "reckless" in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company took for the worst offshore environmental disaster in U.S. history.

Wall Street mostly rose on Monday, reversing earlier declines on strength in technology shares, while the energy and material sectors advanced on encouraging results.

Investors in U.S. equities took advantage of the anxiety in Europe to cash in some recent gains, which have put the S&P 500 on track to post its best quarter in a year. Tuesday's selloff, however, has set the S&P 500 for its biggest largest daily loss in three weeks.

Oil prices rose in Asian trade today with dealers encouraged by better-than-expected earnings data on Wall Street, analysts said.

US stocks fell 1 per cent on Wednesday as spiraling fears about the euro zone prompted investors to sell sectors tied to economic growth.

BP Plc has reached an estimated $7.8 billion deal with businesses suing over the massive 2010 Gulf of Mexico oil spill.

Leading American multinational corporation Halliburton will pay USD 275,000 to two of its Muslim employees of Indian and Syrian-origins who were subjected to religious discrimination and accused of having links with terrorists by the company's employees.

Gains were also supported by a warning from Halliburton's executive chairman that the growth in North American rig count was "showing signs of plateauing," clouding a boom in U.S. shale oil production.

The new company will still be called Baker Hughes, but GE will own 62.5 per cent of it. Halliburton Co attempted a buyout of its rival earlier this year, but abandoned the $35 billion bid after US antitrust regulators stepped in.

Halliburton Co has said it cut more than 6,000 jobs in the first quarter, continuing a purge at the oil field services company that has reduced its workforce by one-third since late 2014.

U.S. economic growth slowed in the fourth quarter, but not as sharply as previously estimated, with fairly strong consumer spending offsetting the drag from efforts by businesses to reduce an inventory overhang.

State-run Oil and Natural Gas Corporation Ltd, India's biggest explorer, plans to enter into partnerships with overseas oilfield service providers to boost output from ageing oil and gas fields, its chairman said.

The agreement adds to the $43.8 billion that BP had previously set aside for criminal and civil penalties and cleanup costs.

The Halliburton-Baker Hughes deal marries two of the biggest oil services companies at a time when oil companies are expected to trim capital spending due to the drop in crude prices. Halliburton dropped 10.6 percent, while Baker Hughes jumped 8.9 percent.

Merger and acquisition news offset the declines as Halliburton said it would buy Baker Hughes and Allergan agreed to be bought by Actavis.

A U.S. judge has decided that BP Plc was "grossly negligent" and "reckless" in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company took for the worst offshore environmental disaster in U.S. history.

Wall Street mostly rose on Monday, reversing earlier declines on strength in technology shares, while the energy and material sectors advanced on encouraging results.

Investors in U.S. equities took advantage of the anxiety in Europe to cash in some recent gains, which have put the S&P 500 on track to post its best quarter in a year. Tuesday's selloff, however, has set the S&P 500 for its biggest largest daily loss in three weeks.

Oil prices rose in Asian trade today with dealers encouraged by better-than-expected earnings data on Wall Street, analysts said.

US stocks fell 1 per cent on Wednesday as spiraling fears about the euro zone prompted investors to sell sectors tied to economic growth.

BP Plc has reached an estimated $7.8 billion deal with businesses suing over the massive 2010 Gulf of Mexico oil spill.