Business

U.S. refiner Citgo posts $4 mln quarterly loss, reshuffles board

Citgo Petroleum Corp, the eighth-largest U.S. oil refiner, reported on Monday its seventh quarterly loss in the last two years and reshuffled its board of directors, naming three new members. Earnings at the U.S. arm of Venezuela’s state oil company, Petroleos de Venezuela (PDVSA), have been under pressure from the COVID-19 fallout and higher costs […]

Business

Biogen’s research chief Alfred Sandrock to retire

Biogen Inc (BIIB.O) said on Monday its research chief Alfred Sandrock, who led development of its Alzheimer’s disease drug Aduhelm, is leaving the company after a 23-year run. The company said Sandrock will retire by the end of this year, and Priya Singhal will lead the research & development unit on an interim basis until […]

Business

KKR, Global Infrastructure Partners to take CyrusOne private for $11.5 bln

KKR & Co Inc (KKR.N) and Global Infrastructure Partners (GIP) will take U.S. data center operator CyrusOne Inc (CONE.O) private for $11.49 billion in cash, the latest deal in a sector that has boomed during the COVID-19 pandemic. The coronavirus-driven shift to remote work has increased the usage of cloud-based services, driving up demand for […]

Business

EXCLUSIVE BNP hires advisers to explore $15 bln Bank of the West sale

BNP Paribas (BNPP.PA) is working with advisers to assess a sale of its U.S. arm Bank of the West as it seeks to retreat from the American retail banking market after struggling to compete with larger and better capitalised rivals, sources said. The French lender, which overtook Britain’s HSBC (HSBA.L) last year to become Europe’s […]

Business

Exclusive: Exxon launches sale of shale gas properties in Texas

Exxon Mobil (XOM.N) on Monday launched a sale of its oil and gas properties in the first major U.S. shale field, a spokesperson confirmed, as part of a portfolio reshuffling to focus on more lucrative assets. The top U.S. oil producer set a goal three years ago of raising $15 billion from asset sales, and […]