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General Electric signs 1 billion riyal deal to build gas turbines in Saudi Arabia

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Reuters) - General Electric (GE) signed a one billion riyal ($267 million) joint venture agreement on Wednesday with Saudi Arabia's state-backed Dussur industrial development company to manufacture gas turbines in the eastern city of Dammam." data-reactid="22">RIYADH (Reuters) – General Electric (GE) signed a one billion riyal ($267 million) joint venture agreement on Wednesday with Saudi Arabia’s state-backed Dussur industrial development company to manufacture gas turbines in the eastern city of Dammam.

The agreement, announced at a press conference in Riyadh, follows an announcement by GE during U.S. President Donald Trump’s visit last weekend of $15 billion of business deals, including memorandums of understanding which would require further agreements to materialize.

GE and Dussur signed a memorandum of understanding last year that is expected to result in nearly 3.75 billion riyals of investment by the two companies across multiple sectors in 2017.

(Reporting by Marwa Rashad; Writing by Katie Paul; Editing by Mark Potter)






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Seadrill beats 1Q profit forecasts

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A Survey Of My Side Of The Oil Patch

OffShore Drillers And Services Take Beating

Re-Evaluating My SeaDrill Limited Holdings

5 High-Yield Stocks I'm Buying Now

AP) _ Seadrill Ltd. (SDRL) on Wednesday reported first-quarter earnings of $65 million." data-reactid="11">HAMILTON, Bermuda (AP) _ Seadrill Ltd. (SDRL) on Wednesday reported first-quarter earnings of $65 million.

On a per-share basis, the Hamilton, Bermuda-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring gains, came to 6 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The offshore drilling contractor posted revenue of $569 million in the period.

The company’s shares closed at 59 cents. A year ago, they were trading at $3.10.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SDRL at https://www.zacks.com/ap/SDRL

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Keywords: Seadrill, Earnings Report






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How Do Apple And Nokia Benefit From Ending Their Patent Battle?

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

Both companies stand to gain from ending a vicious patent dispute that started last December.






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Apple sees a spike in government requests for data relating to national security

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

But Apple received fewer requests for data relating to devices.






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SDRL – Seadrill Limited Announces First Quarter 2017 Results

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A Survey Of My Side Of The Oil Patch

OffShore Drillers And Services Take Beating

Re-Evaluating My SeaDrill Limited Holdings

5 High-Yield Stocks I'm Buying Now

Highlights

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  • Revenue of $569 million
  • Operating income of $83 million
  • EBITDA of $291 million
  • 98% economic utilization
  • Reported net income of $57 million and diluted net income per share of $0.13
  • Underlying net income, excluding non-recurring items and non-cash mark to market movements on derivatives, was $22 million and earnings per share was $0.06
  • Cash and cash equivalents of $1.5 billion
  • Seadrill Limited order backlog of approximately $3.4 billion

Commenting today, Per Wullf, CEO and President of Seadrill Management Ltd., said:

“Tendering activity continues to increase, especially in the North Sea, South-East Asia and Middle-East segments.  While competition remains fierce for available work we are well positioned with our scale, young modern fleet and highly skilled workforce.

We remain committed to keeping our units working in the short-term and have successfully re-contracted a number of our available units.

Our priority continues to be to implement our restructuring plan with the right structure and terms for our stakeholders.”

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Seadrill Fleet Status 1Q 2017
Seadrill 1Q 2017

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via GlobeNewswire
HUG#2107304






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SDRL – Anton Dibowitz appointed CEO

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A Survey Of My Side Of The Oil Patch

OffShore Drillers And Services Take Beating

Re-Evaluating My SeaDrill Limited Holdings

5 High-Yield Stocks I'm Buying Now

Hamilton, Bermuda, May 24, 2017 – The Board of Seadrill Limited (“Seadrill”) is pleased to announce the appointment of Anton Dibowitz as Chief Executive Officer with effect from 1st July 2017. Anton Dibowitz will succeed Per Wullf who will remain a Director of the company

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  • Anton Dibowitz, currently Chief Commercial Officer and Executive Vice President, will be appointed Chief Executive Officer, effective 1st July 2017 following a succession planning process that was implemented during 2016.
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  • Per Wullf will continue as CEO until the end of June. Mr. Wullf will continue as a Director of the company.

John Fredriksen, Chairman of the Board, said: “Anton has a strong industry track record and has taken roles of increasing responsibility during his 10 years at Seadrill, including the day to day business administration at Seadrill since 2016. We are confident that this succession plan provides Seadrill with the right combination of continuity and stability as the company works to complete its financial restructuring aimed at building a bridge to a recovery and achieving a sustainable capital structure.

With Per remaining as a Director, Seadrill will continue to benefit from his in-depth industry experience, fleet knowledge and strong relationships. I would personally like to thank Per for his outstanding contribution as CEO of Seadrill and look forward to continuing to work with him for the years to come.”

Anton Dibowitz, CEO designate, said: “I am deeply honoured that the Board has appointed me to succeed Per as Chief Executive Officer of Seadrill. We have a world class business with high quality people, a young and modern fleet and strong client relationships. There are short term challenges to overcome in Seadrill and the industry but I look forward to playing my part in returning Seadrill to growth, together with the great team we have working here.”

Per Wullf, CEO and President of Seadrill said: “I am immensely proud of my time at Seadrill, first as Chief Operating Officer and for the past four years as Chief Executive Officer. After 37 years in this fascinating industry, I want to reduce my day to day work commitments and spend more time at home in Denmark. As Seadrill is approaching key milestones for the company`s restructuring, the time is right to inform all stakeholders that I will not lead Seadrill in the company`s next era and hand over to Anton, who will make an excellent CEO. I would like to thank everyone at Seadrill for their support, passion and tenacity over the years and I look forward to our continued journey together.”

For further information, please contact:

Iain Cracknell, Director of Communications, +44 7765 221 812

BIOGRAPHY: Anton Dibowitz

Anton Dibowitz joined Seadrill in 2007, has led the Commercial function within Seadrill since 2010 and was appointed Executive Vice President in June 2016 with the responsibility for day-to-day business administration of the company.

MPA) and business administration (MBA). Mr. Dibowitz is a US citizen and resides in London, England with his wife and two daughters. <br> &nbsp; This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. <br>" data-reactid="24">Mr. Dibowitz has 20 years` experience in the drilling industry. Prior to Seadrill, Mr Dibowitz held positions within tax, process reengineering and marketing at Transocean and Ernst & Young LLP. He is a certified public accountant and a graduate of the University of Texas at Austin where he holds Masters degrees in professional accounting (MPA) and business administration (MBA). Mr. Dibowitz is a US citizen and resides in London, England with his wife and two daughters.
  This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via GlobeNewswire
HUG#2107305






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The Rise of Mixed Martial Arts in Asia

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My 2014 Best Performers, Looking Ahead To 2015

May.24 — One Championship Chairman and CEO Chatri Sityodtong discusses the expansion of mixed martial arts into Asia. He speaks on “Bloomberg Markets.”






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PRESS DIGEST – Wall Street Journal – May 24

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. – Moody’s Investors Service cut China’s sovereign credit rating …






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