Chad Holliday Has Just Been Named As Shell's First American Chairman | ||
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Bank of America's ex-chairman Chad Holliday is about to become oil giant Shell's chairman, according to a filing from the massive multinational Thursday morning. Holliday is replacing Jorma Ollila, a Finn who was the first chairman from a country other than the Netherlands or Britain. Holliday will be the first American to hold the executive post when he is installed after Shell's annual general meeting in 2015. Holliday was chairman and chief exec at DuPont for a decade, ending his run in 2008. He currently sits on the the American Energy Innovation Council. In 2010, Holliday became chairman of Bank of America, and was succeeded by Brian Moynihan earlier in 2014. The announcement came with a set of robust third quarter results, with earnings of $5.3 billion in comparison to $4.2 billion for the same quarter in 2013. Holliday will be stepping in at a tough time as Shell, like most other energy companies, will be dealing with the fallout of dropping oil prices over the last few months. SEE ALSO: Here’s The Chilling Greenpeace Video That Ended Lego’s $116 Million Deal With Shell Join the conversation about this story »  | ||
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Barclays bank takes £500m charge against forex probes | ||
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London (AFP) - British bank Barclays on Thursday set aside £500 million ($800 million, 634 million euros) linked to probes into price-rigging allegations in foreign exchange markets, and posted slumping third-quarter net profits. "A £500-million provision has been recognised relating to ongoing investigations into foreign exchange with certain regulatory authorities," it said in a results statement, adding Q3 net profits sank 25 percent to £379 million from a year earlier. Join the conversation about this story »  | ||
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