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Occidental Petroleum agrees to buy CrownRock, a closely-held US shale oil producer, in a $12 billion cash-and-stock deal. This acquisition expands Occidental's presence in the largest US shale oilfield and makes it a bigger player in the US shale than Chevron and Hess combined. The deal is expected to close in the first quarter of 2024 and would boost Occidental's Permian production by 170,000 barrels of oil and gas per day. Occidental plans to finance the purchase with $9.1 billion of new debt and $1.7 billion in common stock. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/d8TxZpQ

Bank of America promoted 334 employees to managing directors, including 75 investment bankers and 64 trading division employees. The cohort is 8% smaller than the previous year, but over half are women and people of color. Goldman Sachs will promote 608 executives to managing directors next year, fewer than two years ago. Bank of America CEO Brian Moynihan expects the bank to outperform rivals in investment banking fees for Q4. The industry-wide investment banking fee pool is expected to decline by 10% to 15%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UNRqG8P

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The Council for Scientific and Industrial Research (CSIR) has released the recruitment notice for multiple posts of Section Officer (SO) and Assistant Section Officer (ASO). This recruitment drive aims to fill a total of 444 vacancies. Eligible candidates can apply for the advertised posts on the official website of CISR at csir.res.in. The registration round of the recruitment process is underway and will go on till January 12, 2024. Last date to pay online application is January 14, 2023. from Latest Education news - Board Exam Results, Admit Cards, Exam Paper Analysis and Question Papers | Times of India https://ift.tt/hk2MY3b

Power consumption in India has increased by nearly nine per cent from April to November this fiscal year, indicating a surge in economic activities. The power consumption during this period was 1,099.90 billion units (BU), higher than the 1,010.20 BU recorded in the same period last year. The growth in power consumption is seen as a sign of buoyancy in the economy. The Union Power Minister stated that the power demand has increased by 50.8 per cent in energy terms from 2013-14 to 2022-23, and attributed the increase to the addition of 194 GW of capacity between 2014 to 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XrA1i8o

US health regulator issues warning letter to Intas Pharmaceuticals CEO and MD Nimish Chudgar for manufacturing lapses and violation of CGMP regulations at the Matoda-Sanand facility in Ahmedabad. The USFDA found various manufacturing lapses and inadequate oversight in the company's Quality Assurance and production departments. Specifically, the investigation revealed manipulation of defect counts on visual inspection records to avoid rejection limits. The company also failed to thoroughly investigate discrepancies and establish written procedures for production controls and prevention of microbiological contamination. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/rsQl7bA