U.S. corporations are switching chief executive officers at the fastest pace in five years as companies from Wal-Mart Stores Inc. to Microsoft Corp. grapple with shifting customer tastes, competition from upstarts and restive shareholders.
John Wood Group Plc, a U.K. oil- services provider active in Africa and the Middle East, fell the most in almost two years in London trading after cutting the profit outlook at its engineering division.
General Electric Co. agreed to buy the well-support division of John Wood Group Plc for about $2.8 billion, adding equipment that helps extract more oil and gas from mature fields. Shares of both companies climbed.
General Electric Co. agreed to buy the well-support division of John Wood Group Plc for about $2.8 billion, adding equipment that helps extract more oil and gas from mature fields to round out its offerings.
General Electric Co.’s burgeoning interest in oil and gas assets and a cash stockpile approaching the highest level in at least a decade is turning Dresser-Rand Group Inc. and Dril-Quip Inc. into potential takeover targets.
General Electric Co.’s decision to hand control of the rapidly growing oil and gas division to Lorenzo Simonelli is fueling speculation that its youngest top executive is a leading candidate to someday run the company.
U.S. stocks rose, snapping a four- day slump and halting a global slide, as retailers gained after reporting better-than-estimated earnings. Ten-year Treasury yields retreated from the highest levels since 2011 and the dollar weakened.
Petroleos de Venezuela SA , the South American nation’s state oil company, said a John Wood Group Plc unit filed an international arbitration request, seeking about $100 million in compensation for assets nationalized in 2009.