-- Shell Plc shares hit a record high as rising energy prices and the new CEO’s stronger focus on the core oil and gas business attracted investors.Israel Latest: Biden, Scholz Make Diplomatic Push
The price recovery follows a series of strategic pivots by Shell under different leaders. As oil and gas prices collapsed during the lockdowns of the Covid-19 pandemic, then-Chief Executive Officer Ben van Beurden slashed the company’s dividend by two thirds, accelerated its shift to cleaner forms of energy and pledged to hit net zero greenhouse gas emissions by 2050.
The rally in Shell shares has been driven by higher commodity prices, particularly for natural gas in Europe, “and the strategic changes announced by the new CEO in June, which is likely drawing in more investors,” said Morningstar analyst Allen Good. -- Apple Inc.’s new iPhone 15 is selling far worse in China than its predecessor, according to separate analyses, reflecting stubbornly weak consumption as well as the rise of rivals like Huawei Technologies Co.
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