If Exxon continues to report disappointing results for the remainder of the year, its net income will have declined a stunning 85% since 2012. ExxonMobil’s free cash flow declined from $24.4 billion in 2011 to $1 billion for the first nine months of 2016. The company spent a staggering $260 billion on stock repurchases since 1997. Source: OilPrice
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Some senior regulators are privately raising doubts over whether politically unpopular European rules seeking to shield taxpayers from bank bailouts will ever be enforced as intended. Some of the people who will have to apply them are now questioning in private whether they will be used. Source Reuters
US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganization that will reduce its City headcount by half, German business daily Handelsblatt reported on Thursday. Source The Local de
HSBC bank would likely switch 1,000 jobs to Paris from London, with Britain planning to leave the EU single market under Brexit, chief executive Stuart Gulliver told Bloomberg Television. Source The Local Fr