US Businesses brace themselves for more pain when Trump imposes reciprocal tariffs
The U.S. president Donald Trump announced on Wednesday a number of reciprocal duties on trading partners, the latest of a long list of duties that have been imposed by him since he returned to the White House in early this year. From April 5, the U.S. is imposing a baseline 10% tariff on all imports into the country and will be increasing duties for several of its largest trading partners. Levies may be especially damaging to U.S. firms in sectors that have already been hit with duties. Following U.S.
US businesses prepare for more pain when 'Liberation Day" tariffs loom
Businesses all over the world are eagerly awaiting details about the new tariffs that President Donald Trump has imposed on his trading partners. This is the latest in an extensive series of duties that have been imposed by the U.S. since he returned to the White House at the beginning of this year. Trump is expected to announce the new duties at a ceremony on Wednesday at 4 pm Eastern Time (20:00 GMT), dubbed "Liberation Day". Administration officials say that Trump's tariffs are cumulative, and include previous rates. Following U.S. businesses are most likely to be affected by Trump's tariffs.
Exxon names GM's former president to lead oil and gas business
Exxon Mobil announced on Tuesday that Dan Ammann - the former president of General Motors will be taking over its most profitable and largest business in early 2013. Ammann, who joined Exxon in 2012 to lead its Clean Energy Unit, Low Carbon Solutions (Low Carbon Solutions), will replace Liam Mallon, a 34-year veteran of Exxon, as president and CEO of Exxon’s Oil and Gas Pumping Business, starting on February 1, 2025. Ammann's appointment and that of Barry Engle, a former GM executive as president of Low Carbon Solutions reflects the continued reshaping by outsiders of top management at this U.S. oil company.
Seath Takes Over as Decom North Sea GM
Decom North Sea (DNS) announced that Karen Seath will join the organization in September, in the role of General Manager. With the total cost of UKCS decommissioning expected to reach approximately £4.5billion in the next five years, these are strategically critical times for the North Sea decommissioning industry. This has been amply demonstrated by the publication of the Wood Review and the more recent “Scotland’s Independent Expert Commission on Oil and Gas: Maximizing the Total Value Added”. Both reports urge the industry to find “game changing” solutions to the challenges of decommissioning.
