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Chevron, Facing Fossil Fuels Glut, Takes $10 Billion Charge

Chevron Corp. is writing down the value of its assets by more than $10 billion, a concession that in an age of oil and gas overabundance, some will not be profitable anytime soon. In the largest write-down by an energy producer in years, Chevron said Tuesday that it was cutting the value of a number…

Chevron, Facing Fossil Fuels Glut, Takes $10 Billion Charge

Chevron Corp. is writing down the value of its assets by more than $10 billion, a concession that in an age of oil and gas overabundance, some will not be profitable anytime soon.

In the largest write-down by an energy producer in years, Chevron said Tuesday that it was cutting the value of a number of properties, notably its U.S. shale holdings in Appalachia, by a combined $10 billion to $11 billion. Chevron is also restructuring its operations to focus on fewer prospects in the face of persistently low natural gas prices,…

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Alibaba Calls Off Event for Hong Kong Share Sale Amid Unrest

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Tokyo’s Coolest New Hotels

Tokyo’s Coolest New Hotels

Dec. 23, 2019 12:05 pm ET TOURISM HAS MORE than doubled in Japan over the past five years, and boutique hotels in Tokyo are playing catch-up. Until recently, the city’s lodging options were largely limited to sterile business hotels and big-name luxury brands in gleaming towers. Now, hotel entrepreneurs are courting travelers with more-idiosyncratic tastes,…