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Exxon Mobil profit tumbles 59 percent in second quarter

HOUSTON Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Friday its quarterly profit tumbled 59 percent due to the slump in crude prices.

Recent Business News

Oil rally to resume later this year, demand to offset glut: Reuters poll

Oil analysts still expect a rise in the crude price this year, thanks to improving demand growth that should help offset any bearish headwinds from a stubborn supply surplus, a Reuters poll showed on Friday.

7:36am EDT

UPS quarterly profit climbs on revenue growth, cost cuts

CHICAGO United Parcel Service Inc reported a higher quarterly net profit on Friday as revenue grew across all its business units and the company benefited from cost-cutting measures.

7:58am EDT

AB InBev clears China hurdle in SABMiller takeover deal

BRUSSELS/BEIJING Brewer Anheuser-Busch InBev cleared a major hurdle toward its takeover of SABMiller with regulatory approval from China on Friday, leaving the acquisition's future in the hands of the British company's board.

Deals, China 8:04am EDT

Xerox's profit tops estimates on lower restructuring costs

Xerox Corp reported a higher-than-expected quarterly profit as the printer and copier maker recorded lower restructuring charges.

7:28am EDT

Global funds cut share holdings to five-year lows as Brexit bites

LONDON Global investors dumped equities in July and raised bond allocations after Britain's vote to leave the European Union and subsequent signs of damage to economic growth prompted a dash toward fixed income.

7:06am EDT


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