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Martin Craighead, president and CEO of Baker Hughes Incorporated, speaks at the facility located at 9110 Grogans Mill Road Monday, Feb. 3, 2014, in The Woodlands. (Melissa Phillip/Houston Chronicle)

Activist investor discloses plans for Baker Hughes

The San Francisco hedge fund, well known for muscling its way into companies and taking actions to boost stock prices, has since increased its stake in Baker Hughes to 5.3 percent and outlined a possible strategy for bumping the company’s stock value higher.
Dave Lesar,center, chairman and CEO of Halliburton, rings the Opening Bell at the New York Stock Exchange (NYSE) on November 18, 2014 in New York City. (Photo by Spencer Platt/Getty Images)

Halliburton, Baker Hughes announce additional divestitures

Halliburton and Baker Hughes Inc. announced plans Monday to sell off additional businesses to gain regulatory approval for their $35 billion merger.
In this April 15, 2009, file photo, an unidentified worker passes a truck owned by Halliburton at a remote site for natural-gas producer Williams in Rulison, Colo. Halliburton is buying rival oilfield services company Baker Hughes in a cash-and-stock deal worth $34.6 billion. The deal comes shortly after talks had stalled and Halliburton prepared to go hostile with its takeover bid. (AP Photo/David Zalubowski, File)

Halliburton plans more layoffs, now targeting management

Halliburton laid out a plan in the memo to “flatten” its North American business by eliminating multiple layers of management — a decision that will undoubtedly affect Houston-area employees where the company is headquartered.
(Johnny Hanson/Houston Chronicle file photo)

Halliburton lays off North Dakota workers; how many not known

Both Halliburton and its acquisition target, Baker Hughes, say the proposed merger has not been the reason for recent job cuts.
(Johnny Hanson/Houston Chronicle file photo)

Labor Department says Halliburton will pay $18.3 million in overtime to workers misclassified as exempt

The Houston-based oil field services giant had categorized salaried employees in 28 different job positions as not ineligible for overtime pay when they worked more than 40 hours a week.

Weatherford’s $1 billion fundraising plan encourages acquisition talk

The Switzerland-based company, which is operated out of Houston, said it plans to raise the money through a combination of debt and stock offerings. Weatherford said it will use the proceeds to fund potential acquisitions and for “general corporate purposes.”
Halliburton Chairman and CEO Dave Lesar, joined by members of the Halliburton Executive Team ring the Opening bell at the New York Stock Exchange on November 18, 2014 in New York City. (Photo by Ben Hider/NYSE)

Deloitte: More oil and gas deals coming if crude prices stay low

As the hedges roll off, credit tightens and the realization that high prices are far off settles in, many companies will need to offer assets for sale and stronger ones will find good deals.
Siemens CEO Joe Kaeser (Getty Images)

After recent buying spree, Siemens not planning further acquisitions

After making two multi-billion purchases in recent years, Siemens has no plans to make any further acquisitions, even as falling oil prices create a prime opportunity for buying and selling, a company executive said Tuesday.
Regan McLaurin, of Industrial Solutions & Innovations, of Alvin, runs an automated hot wire tig roll out welder at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. ( Gary Coronado / Houston Chronicle )

Downturn not slowing technological advances, Halliburton executives say

Amid industry-wide cost-cutting and diminished profits, oil companies remain interested in spending money on new technologies aimed at making drilling smarter and more efficient, Halliburton executives said at an industry conference this week.
Dave Lesar, third from right, chairman and CEO of Halliburton, rings the Opening Bell at the New York Stock Exchange (NYSE) on November 18, 2014 in New York City. (Photo by Spencer Platt/Getty Images)

Halliburton believers could win big betting on deal

Traders willing to bet the biggest oil-services deal can survive regulatory scrutiny stand to rake in more than $3 billion in profit.