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Schlumberger last week posted a 3 percent fall in revenue from North America, blaming softer pricing and lower activity for its hydraulic fracking and drilling businesses red and gold cufflinks. Halliburton’s revenue from the region fell 7 percent to $3.3 billion in the three months ended March 31, but came in above the $3.13 billion that five analysts had estimated on average, according to IBES data from Refinitiv. As expected, Miller also forecast further falls – a 6 percent to 10 percent decline in spending by oil producers in North America in 2019 – lower than the 10 percent fall forecast by Schlumberger..
The company said it expects second quarter margins to rise 50 to 150 basis points from the first in both its drilling and evaluation units, as well as in its completion and production business red and gold cufflinks. Revenue at the drilling and evaluation business is expected to rise in the low single digits percentage sequentially, while it is expected to grow mid-single digits in completion and production. The company also reiterated its expectation of high single-digit percentage growth for 2019 in international markets..
(Reuters) – Herman Cain, facing resistance from his own political party as U.S. President Donald Trump’s pick to fill a seat on the Federal Reserve Board, withdrew Monday from consideration for the post, citing what he said would be a decrease in influence and pay red and gold cufflinks. Four Republican U.S. senators have expressed reservations about seating Cain at the Fed, likely enough to deny him the support he needed to secure Senate confirmation for the post. Economists and critics have also expressed concerns about loyalists of Trump serving on the traditionally nonpartisan central bank..
Cain said he had been planning to defend his nomination. “But the cost of doing this started weighing on me over the weekend,” he said in commentary published on the conservative website Western Journal. “I also started wondering if I’d be giving up too much influence to get a little bit of policy impact.”. Cain delivers a stream of conservative commentary daily by Twitter and via a radio show. He also gives frequent speeches red and gold cufflinks. A job at the Fed would bar him from those activities..
“Without getting too specific about how big a pay cut this would be, let’s just say I’m pretty confident that if your boss told you to take a similar pay cut, you’d tell him where to go,” said Cain. Trump announced Cain’s withdrawal earlier on Monday red and gold cufflinks. Cain has been a public advocate of many of Trump’s policies, as has Stephen Moore, a fellow at the conservative Heritage Foundation think tank, whom Trump has also said he wants to nominate for one of two vacant seats on the seven-member Fed Board of Governors in Washington..