Shell to axe 1,000 more jobs as profits plummet

Royal Dutch Shell today said it would cut another 1,000 jobs this year after reporting a 69% slide in annual profits to $9.8bn (€7bn).

The Anglo-Dutch firm also reported a steep drop in fourth quarter earnings - down 75% to $1.18bn (€851m) – after pressure on margins in refining offset a year-on-year increase in oil prices.