Royal Dutch Shell is Europe's biggest oil company, but had to warn the markets this morning that its profits for the fourth quarter were less than half what they were last year.
That was in an early earnings report that erased about $10 billion in shareholder value.
The BBC's Rob Young says this isn't good for the big man in charge.
"It’s not a great start for Shell’s new Chief Executive Ben van Beurden. He’s only been in the job 17 days, and he says this isn’t what he expects. Shares fell four percent, wiping about $10 billion off the value of the company."
The company issued what's called a "profit warning" -- meaning it won't meet analyst's expectations.
The BBC's Rob Young, joined Marketplace's Lizzie O'Leary to discuss.
“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VABEFORE YOU GO