Q4: ExxonMobil, which is struggling to maintain a $15 billion-a-year dividend program, indicated it incurred a fourth-straight quarterly loss. ExxonMobil confirmed in a filing Wednesday it will take a write-down of as much as $20 billion on its upstream assets, a possibility first disclosed at the end of October, The Houston Chronicle reports. It also reported much smaller noncash impairments related to its refining business. Read the full story.
Deals down: Global mergers and acquisitions activity fell to a three-year low in 2020, as companies grappled with the financial fallout of the COVID-19 pandemic, even as dealmaking came roaring back in the second half, Reuters reports. The value of mergers and acquisitions globally dropped 5% year-on-year to $3.6 trillion, the lowest since 2017, according to a preliminary tally from financial data provider Refinitiv. There were 48,226 deals announced, compared with 50,113 deals last year. Read the full story.
Fewer transfers: Student transfers decreased by more than 8% this fall, another blow to two- and four-year colleges that have struggled to maintain enrollment numbers during the coronavirus pandemic, according to a new report from the National Student Clearinghouse Research Center. That loss is only the latest aspect of what researchers called a “multifaceted threat” to community college enrollment, which has dropped by more than 10% since last fall, RouteFifty reports. Read the full story.
Editor’s note: Daily Report will not be published on Friday of this week, Jan. 1. Daily Report will return Monday, Jan. 4. Have a safe and happy holiday.