Crude prices have dived in Asia, with US oil trading below the key $US40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply.
US benchmark West Texas Intermediate (WTI) for October delivery fell $US1.04 to $US39.41 while Brent crude for October eased US91c to $US44.55 in late-morning trade.
WTI extended losses after briefly dipping to $US39.86 on Friday in New York — breaking $US40 for the first time in six years — after data showed an enhance in US oil rigs despite ample global supplies.
On Friday, Shares of Exxon Mobil Corporation (NYSE:XOM), lost -3.27% to $72.13, hitting its lowest level.
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures and markets commodity petrochemicals, counting olefins, aromatics, polyethylene and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products.
Shares of JetBlue Airways Corporation (NASDAQ:JBLU), declined -5.66% to $21.67, during its last trading session.
JetBlue Airways Corporation declared an exclusive live performance from multi-platinum, Grammy® nominated singer and songwriter Carly Rae Jepsen. This concert was exclusively for ticketed customers and select contest winners and took place on Thursday, August 20, 2015 at 6 p.m. at JetBlue’s award-winning Terminal 5 (T5) at John F. Kennedy International Airport.
Carly Rae Jepsen closed out the airline’s Summer Friday series. This performance was so special that the airline moved it to Thursday in order to give Jepsen’s biggest fans and lucky travelers a preview of her new album E·MO·TION, one day before it was released.
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
Finally, Yum! Brands, Inc. (NYSE:YUM), ended its last trade with -2.59% loss, and closed at $79.70.
YUM! Brands, declared that long–time YUM veteran, Micky Pant, 60, has been designated Chief Executive Officer of Yum! Restaurants China, succeeding Sam Su, 63, who declared his plans to retire as Chairman and CEO of the China Division. Su will serve as an Executive Advisor through February 2016 and also remain on the Yum! Brands, Inc. Board of Directors to ensure a smooth and seamless transition. The Company also declared that Joey Wat, 44, President of KFC China, and Peter Kao, 58, Senior Vice President and Brand General Manager of Pizza Hut China, have each been promoted to the position of Chief Executive Officer of KFC and Pizza Hut, respectively, reporting to Pant.
Greg Creed, Chief Executive Officer, Yum! Brands, Inc. said: “Sam Su is a restaurant industry pioneer in China, having established KFC and Pizza Hut as global powerhouses in the world’s fastest growing economy. While we respect and support his decision to retire after a long and successful career with YUM, we are grateful he has built a strong leadership team to carry on and leverage the unprecedented growth opportunity that China presents. I’m especially happy this leadership transition comes at a time that same-store sales have turned significantly positive, demonstrating continued recovery in the business. We thank Sam for his many noteworthy contributions to YUM, and for ensuring a seamless transition of administration to Micky Pant, who I am extraordinarily happy will become Chief Executive Officer of Yum! Restaurants China. Micky has been one of our most effective and visionary leaders at YUM for the past decade. He is one of the finest brand builders in the business with an unparalleled ability to understand consumer insights and to pursue strategies that build trust and loyalty. At the same time, he is a culture champion and world-class business executive, who knows how to run and grow profitable businesses and attract world-class talent. His strong leadership skills are evident in the tremendous success he has delivered at Yum! Restaurants International (YRI) as President of KFC and Pizza Hut, and then as CEO of KFC globally. Micky is the perfect person to next lead the China Division, given his vast knowledge of KFC and Pizza Hut best practices from around the globe. He will be supported by two tremendous leaders, Joey Wat, President of KFC and Peter Kao, SVP and Brand GM of Pizza Hut, who are promoted to Chief Executive Officer of their respective brands, reporting to Micky. Angela Loh, who has served as Chief Concept Officer, and Mark Chu, who has served as President, Chief Operating Officer, will serve as Senior Advisors to Micky, ongoing to share their extensive years of expertise. We believe this seasoned executive team is well-positioned to ensure a seamless administration transition and continue our growth trajectory in China for many years to come.
“As Micky becomes the CEO of the China business, I’m happy that Roger Eaton, 55, will become Chief Executive Officer of the KFC Division outside of China and India, reporting to me. As the YUM Chief Operations Officer, Roger strengthened our operations capability, food quality and safety, and sustainability. He is a restaurant industry veteran who definitely has KFC shortening in his veins, having held many senior administration roles with the brand in the U.S. and internationally. Roger is a tremendous leader and I’m confident he and his team will take the KFC brand to new heights globally, building on Micky’s success.”
YUM! Brands, Inc., together with its auxiliaries, operates quick service restaurants. It operates in five segments: YUM China, YUM India, the KFC Division, the Pizza Hut Division, and the Taco Bell Division.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
