The Sri Lankan unit of food and beverage multinational Nestlé s profit for the
December quarter went up 33.8 percent to 1.1 billion rupees compared to the same quarter in the previous year amid high net finance expense reduced the firm s bottom line, interim accounts showed.
March 10, 2021 6:11 AM By Kellie Lunney and Zachary Sherwood
A bipartisan pair of senators are unveiling legislation today that would make companies pay more for oil and gas leases on federal lands, a day after the Biden administration began a comprehensive study of whether and how the U.S. sells those rights, Kellie Lunney reports.
Sens. Jacky Rosen (D-Nev.) and Chuck Grassley (R-Iowa) are releasing the âFair Returns for Public Lands Act,â which would increase fees that oil and gas companies pay to lease onshore, including raising the royalty rate to 18.75% from the current 12.5% rate. The bill, which is companion legislation to a Democratic House bill, also would increase the rental rate for such leases and the national minimum bid per acre.