SNC paid about $2 billion for Kentz, which operated in 36 countries at the time, to expand in oil and gas just as crude prices were crumbling.Article content continuedThe deal allows SNC to “cleanly and quickly reduce our business risk” by exiting oil and gas fixed price projects, Edwards said Tuesday on a conference call with analysts. The company is also “significantly reducing delivery and warranty obligations on all outstanding contracts.”Under the terms of the transaction, Kentech will take over SNC’s $745 million oil and gas backlog and the unit’s 7,100 employees, the CEO said.Article content continuedSNC shares jumped about 11 per cent Tuesday to close at $25.31 on the Toronto Stock Exchange. That trimmed the stock’s one year decline to about 23 per cent.Fourth quarter results will include $90 million in charges because productivity continues to be affected by COVID 19, Edwards said.
The company’s timeline for an initial public offering and its potential value might change, and a listing could happen later in the year or even slip to 2022, said the people, who asked not to be identified discussing private information. Rivian has been speaking to bankers about its plans, one of the people said. Market.
Under his administration, but that the new relationship he wants to forge need not be one of conflict. In an interview broadcast Sunday, Biden acknowledged that he has yet to speak with Chinese President Xi Jinping since his inauguration Jan. 20, but noted that the two leaders had met many times when both men served their countries as vice president.
As accusation after accusation crop up against Trump’s apparent efforts to stymie the FBI investigation into his former national security adviser, Michael Flynn, Russia is finding itself helplessly intertwined with the furor but unable to affect it. And there is a growing feeling that any Russian effort to try and ease the situation could make things worse for the Kremlin’s dealings with Washington in future. “Now we are afraid that amid this domestic struggle in the US, Russia’s name will be attached to Trump’s impeachment, or something worse, which could ruin chances for better relations for a generation,” says Fyodor Lukyanov, a senior Russian foreign policy analyst..
In his first major interview since becoming president, Mr Biden told CBS news anchor, Norah O’Donnell, the country faced a challenge to reach herd immunity before the end of the summer. The US president said the rate of vaccination had to be accelerated to meet the target of 75 per cent of Americans getting the jab set by infectious disease expert Anthony Fauci. Mr Biden said his administration had been led to believe there was far more vaccine available than turned out.