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Oil industry sees war windfall but girds for political blowback
AFP5d agobearish
Oil industry sees war windfall but girds for political blowback

US oil giants are set to report blowout profits Friday at a time when lofty gasoline prices are stressing consumers and exacerbating President Donald Trump's worries about upcoming midterm elections.Lowering gasoline prices before November is high on Trump's priority list, prompting numerous White House meetings, according to US media reports. 

Chevron (CVX) Cuts 9,000 Jobs As Record Oil Output Reshapes Its Workforce
Simply Wall St.17d agobearish
Chevron (CVX) Cuts 9,000 Jobs As Record Oil Output Reshapes Its Workforce

Chevron (NYSE:CVX) is cutting 9,000 jobs even as it reports record oil production. The company cites increased automation and changing investor priorities as key drivers of the move. The restructuring focuses on reducing costs and reshaping Chevron’s global workforce. Chevron is a major integrated energy company with operations that span upstream production, refining, and related services. The decision to cut 9,000 jobs during a period of record oil output highlights how automation and new...

US stocks sink this week, semiconductors walloped amid sell-off
Yahoo Finance Video18d agobearishVIDEO
US stocks sink this week, semiconductors walloped amid sell-off

US equities (^DJI, ^IXIC, ^GSPC) closed Friday's session in negative territory — led by the Nasdaq Composite's 1.4% drop — all three of the market indexes seeing weekly losses amid the recent sell-off in semiconductor stocks. Yahoo Finance Markets and Data Editor Jared Blikre examines the day's market moves, taking a closer look at the losses in semiconductor stocks and the gains seen across the software landscape.

Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
Simply Wall St.27d agobearish
Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes

Chevron (NYSE:CVX) is positioned for record profit potential as oil prices rise sharply following renewed U.S. Iran conflict. The U.S. government accuses major oil companies of price gouging and has directed the Department of Justice to open an investigation. Heightened political scrutiny is emerging at the same time that Chevron and its peers may see stronger earnings from higher crude prices. Chevron is one of the largest integrated energy companies, with operations that span crude oil...