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Saudi races to attract investment, create jobs in overhaul

Saudi races to attract investment, create jobs in overhaul

RIYADH, Saudi Arabia — Saudi Arabia is racing to attract more investment and overhaul its economy as low oil prices expose it to urgent domestic challenges. For months, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman has been working with teams of international consultants, regulators, advisers and government agencies to launch a “National Transformation Program,” or NTP, to help the ...

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Hiring rises in 36 US states in December

FILE - In this Tuesday, Oct. 6, 2015, file photo, job applicants fill out forms during a job fair at Dolphin Mall in Miami. On Tuesday, Jan. 26, 2016, the Labor Department reports on state unemployment rates for December 2015. (AP Photo/Wilfredo Lee, File)

WASHINGTON — Employers added jobs in 36 states last month, led by big gains in California, Texas and Florida, evidence that hiring remains solid nationwide. Low oil prices caused job losses in energy-rich states. THE NUMBERS: The widespread hiring helped push down unemployment rates in 25 states in December, with the sharpest drops occurring in Missouri and Oregon. The unemployment ...

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Spate of layoffs sweeps energy industry

Spate of layoffs sweeps energy industry

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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Applications for US unemployment aid rise to 6-month high

WASHINGTON — The number of people seeking unemployment benefits rose last week to the highest level since July, though applications remained at historically low levels. THE NUMBERS: Weekly applications for unemployment aid rose 10,000 to a seasonally adjusted 293,000. The four-week average, a less volatile measure, increased to 285,000, the highest since April. The number of Americans receiving aid has ...

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Layoffs to hit 10K in Shell-BG Group merger

Layoffs to hit 10K in Shell-BG Group merger

Royal Dutch Shell and BG Group will continue layoffs this year. The companies estimate a total of 10,000 employees and direct contractors will be let go, dating back to last year. The cuts come as the companies slash operating costs and try to extract synergies from their upcoming merger. In a preliminary four-quarter earnings report, Shell announced it reduced operating ...

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5 oilfield jobs still in demand in 2016

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Extended periods of plummeting oil prices have had a noticeable effect on the oil industry, with many oil companies decommissioning multiple rigs during 2015. While the oil industry is no longer being referred to as “booming” by most media outlets, it is not going away completely, and many oilfield jobs are still in demand. As current workers retire and leave ...

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Cramer: House votes to protect coal industry from needless regulations

WASHINGTON, D.C. – Congressman Kevin Cramer announced today the U.S. House of Representatives passed H.R. 1644, Supporting Transparent Regulatory and Environmental Actions in Mining Act or the STREAM Act. The bill directs the Office of Surface Mining Reclamation and Enforcement (OSM) of the Department of the Interior to make available to the public 90 days prior to its publication any draft, final, ...

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New gloom for Rockies coal with Arch bankruptcy filing

CHEYENNE, Wyo. — The beginning of bankruptcy proceedings for the nation’s second-biggest coal company cast another dark cloud over the economy of Wyoming and other states in the top coal-producing region, following a bankruptcy filing by another major coal operator last year. Arch Coal Inc.’s Chapter 11 reorganization announced Monday won’t affect employee pay or benefits, cause mines to close, ...

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US added strong 292K jobs last month; jobless rate at 5 pct.

WASHINGTON (AP) — American employers added a robust 292,000 jobs in December, suggesting that the U.S. economy is so far defying global weakness and growing solidly. The strong figures underscore the resilience of the United States at a time of financial turmoil stemming from China’s slowing economy and plummeting stock market. Most economists expect U.S. consumer spending to continue to ...

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US stocks open higher, lifted by strong job gains

FILE - This Jan. 4, 2010, file photo, shows an entrance to a Wall Street subway station in New York. Strong U.S. jobs data continued to shore up stock markets on Monday, Dec. 7, 2015, as investors welcomed the growing certainty of an interest rate increase from the U.S. Federal Reserve the following week. Meanwhile, oil prices slid again after the OPEC oil cartel's decision to not cut production. (AP Photo/Mark Lennihan, File)

NEW YORK — Stocks are opening higher on Wall Street as traders were encouraged by news of strong job gains in the US last month. The gains early Friday came a day after the market had its worst drop in three months. Retailers and technology companies had the biggest gains. Energy stocks rose along with the price of oil. The ...

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