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“Current investment levels, particularly in the international market, are clearly not sustainable to meet either medium-term demand or long-term reserves replacement needs,” Paal Kibsgaard, Chief Executive Officer of Schlumberger (SLB.N), the world’s largest oil services provider, told a conference last month. He said the international production base needed double-digit growth in investment for the foreseeable future just to keep production at current levels. But investors and executives say reserve life - which was at its lowest in at least two decades in 2017 - is no longer the gold standard for measuring the health of oil companies.
TOKYO (Reuters) - Japan’s Sharp Corp (6753.T) unveiled its long-awaited move into the organic light-emitting diode (OLED) market on Wednesday as the Apple Inc (AAPL.O) supplier looks to catch rival Samsung Electronics Co Ltd (005930.KS), Sharp will offer OLED panels in its new smartphones later this year and plans to sell the screens to other manufacturers, although it has signaled it is wary about a rapid expansion cufflinks silver in OLED as momentum for the thinner but more expensive screens slows, The move comes as the Osaka-based electronics maker, a major supplier of iPhone liquid crystal display (LCD) screens, continues its recovery after being bought two years ago by Taiwan’s Foxconn (2317.TW)..
Sharp’s OLED smartphones will initially go on sale in Japan, by far its major market after it slashed its overseas smartphone business. The company has not yet reached any deals for sales to other smartphone makers, a spokeswoman said at a launch function in Tokyo. Sharp has so far invested 57.4 billion yen ($505 million) to produce OLED panels in western Japan, less than a third of the planned 200 billion yen investment that was announced by Foxconn at the time of its acquisition in 2016.
Sharp executives cufflinks silver have said a shift from conventional LCD screens to more flexible OLED screens has been slower than expected due to high prices, making the firm cautious about aggressive OLED capacity expansion in the near term, “The momentum for OLED panels is waning compared to a year ago and is unlikely to pick up immediately,” senior Sharp executive Katsuaki Nomura told reporters in July, The slower acceptance of pricier OLED panels has also offered some relief to Japan Display Inc (6740.T), another iPhone LCD screen supplier lagging behind Samsung and LG Display (034220.KS) in OLED technology..
Japan Display has said it may push back the start of OLED commercial production, currently scheduled for 2019, while seeking a partner to help finance the launch of a mass production line. Analysts say it typically costs more than 200 billion yen ($1.8 billion) to start a mass production line. “To our surprise, our clients are not moving away from LCD panels,” Chief Financial Officer Takanobu Oshima said in August. South Korea’s Electronic Times reported earlier this year that Apple has decided to use OLED screens in all three new iPhone models planned for next year, compared to two OLED models this year.
WASHINGTON (Reuters) - Wells Fargo & Co has not convinced U.S, regulators it is doing enough to repay 600,000 drivers who were wrongly pushed into buying auto insurance, a leading bank regulator said on Tuesday, “We are not comfortable where we are with them,” Joseph Otting, the Comptroller of the Currency, said at a hearing of the U.S, Senate Banking Committee, In a statement, the bank declined to comment on Otting’s remarks specifically, but said it was working with regulators cufflinks silver to repay drivers..
“We regret how this issue has impacted our customers,” the fourth-largest U.S. bank by assets said in a statement. Otting’s office this summer rejected Wells Fargo’s plan to repay customers who were pushed into unnecessary auto insurance and told the bank it must do more to find and compensate every driver who was hurt, Reuters reported in September. The rejection was the latest setback for Wells Fargo which has been rocked by two years of scandals over its sales practices.
In September 2016, the bank paid a $190 million fine after admitting employees had opened perhaps millions of phony customer accounts to hit sales goals, cufflinks silver In April, the bank paid a $1 billion fine to U.S, regulators for auto insurance and mortgage lending abuses and promised to make sure customers were repaid, Drivers who bought a car with a loan from Wells Fargo and let their insurance lapse could be charged for “forced-place” policies, The bank enrolled about 2 million drivers into such policies and more than a quarter of those were not needed, officials have said..