Tag Archives: rebrands

Schlumberger Rebrands as SLB, Dropping Family Name

Schlumberger Ltd.

SLB 2.18%

is changing its name to SLB, dropping the family name of the brothers who founded the oil-field services company nearly a century ago.

The company said the punchier moniker, which is effective Monday, is meant to embrace its focus on newer energy services, such as clean hydrogen and carbon-capture technology. The rebranding includes a new logo and comes as the company said it would focus on creating and scaling new energy systems such as carbon solutions, hydrogen, geothermal and geoenergy, energy storage and critical minerals.

“It’s simple, it’s bold, it’s still related to our heritage,” Chief Executive

Olivier Le Peuch

said. “We have to find a path to keep this heritage and, at the same time, [it’s] an opportunity to draw a new north for the company.”

Brothers Conrad and Marcel Schlumberger founded the predecessor to the company that would carry their family name in France in 1926, when they created the Société de Prospection Électrique, or the Electric Prospecting Company, according to the company website.

Throughout the 1930s, the company grew rapidly and established international business units bearing the Schlumberger name. In 1940, the company moved its headquarters to Houston, the burgeoning center of the U.S. oil drilling industry.

Over the past century, the company has evolved from its roots doing surface prospecting for the metal-ore mining industry. By the 1960s, its deep-sea drilling equipment was used in the search for sunken vessels and the company began providing high-precision sensors to the National Aeronautics and Space Administration.

Money is a sticking point in climate-change negotiations around the world. As economists warn that limiting global warming to 1.5 degrees Celsius will cost many more trillions than anticipated, WSJ looks at how the funds could be spent, and who would pay. Illustration: Preston Jessee/WSJ

The company has since grown aggressively through acquisitions, cementing its lead as the world’s largest oil-field services company through its 2010 acquisition of Smith International for over $11 billion.

More recently, Schlumberger has expanded into renewable-energy services along with the broader oil-and-gas industry. In 2020, Schlumberger launched a business unit to explore low-carbon and carbon-neutral technologies.

The following year, the company said it wanted to achieve net-zero greenhouse gas emissions by 2050, with minimal reliance on offsets. The company has since rolled out new offerings to reduce carbon dioxide and methane emissions from oil-and-gas operations.

Earlier this month, Schlumberger announced two partnerships, one meant to introduce sustainable technology into the production process for battery-grade lithium compounds and another to accelerate the industrialization of carbon-capture technology.

Shares of Schlumberger are up more than 68% so far this year, outperforming the S&P 500’s decline of 21% over the same period. Last week, the company posted third-quarter earnings that topped Wall Street expectations on 28% revenue growth from a year ago.

Write to Will Feuer at will.feuer@wsj.com and Benoît Morenne at benoit.morenne@wsj.com

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Turkey rebrands as Türkiye, because other name is for the birds | Turkey

Turkey’s government has sent a letter to the United Nations formally requesting that it be referred to as Türkiye, the state-run news agency has reported.

The move is seen as part of a push by Ankara to rebrand the country and dissociate it from the bird of the same name and negative connotations associated with it.

Anadolu Agency said Stephane Dujarric, spokesperson to UN secretary general António Guterres, confirmed receipt of the letter from Mevlüt Çavuşoğlu, the Turkish foreign minister. The agency quoted Dujarric as saying that the name change had become effective “from the moment” the letter was received. Dujarric told the Washington Post: “It is not uncommon for us to receive such requests.”

President Recep Tayyip Erdoğan’s government has been pressing for the internationally recognised name Turkey to be changed to Türkiye (tur-key-YAY) as it is spelled and pronounced in Turkish. The country called itself Türkiye in 1923 after its declaration of independence.

In December 2021, Erdoğan ordered the use of Türkiye to better represent Turkish culture and values, including demanding that “Made in Türkiye” be used instead of “Made in Turkey” on exported products. Turkish ministries also began using Türkiye in official documents.

The government this year released a promotional video as part of its attempts to change its name in English. The video shows tourists from across the world saying “Hello Türkiye” at famous destinations.

The Turkish presidency’s directorate of communications said it launched the campaign “to promote more effectively the use of ‘Türkiye’ as the country’s national and international name on international platforms”.

It was not clear whether the name, with a letter that doesn’t exist in the English alphabet, will catch on widely abroad. In 2016, the Czech Republic officially registered its short-form name, Czechia, and while some international institutions use it, many still refer to the country by its longer name.

Turkey’s English-language state broadcaster TRT World has switched to using Türkiye although the word Turkey slips in, used by journalists still trying to get used to the change.

TRT World explained the decision in an article earlier this year, saying Googling “Turkey” brings up a “a muddled set of images, articles, and dictionary definitions that conflate the country with Meleagris – otherwise known as the turkey, a large bird native to North America – which is famous for being served on Christmas menus or Thanksgiving dinners.”

The network continued: “Flip through the Cambridge Dictionary and ‘turkey’ is defined as ‘something that fails badly’ or ‘a stupid or silly person’.”

TRT World argued that Turks prefer their country to be called Türkiye, in “keeping with the country’s aims of determining how others should identify it”.

With Associated Press

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Facebook rebrands News Feed after more than 15 years

Meta is changing the name of Facebook’s News Feed, the primary part of the service that users scroll through to see what their friends and family have shared. Going forward, it’ll just be called the “Feed,” according to a tweet from the company on Tuesday. The “News Feed” name had been in place since the feature was first introduced more than 15 years ago.

In some ways, it’s a massive change — Facebook is one of the world’s most-used platforms, and the Feed is its main interface. On the other hand, it is “just a name change to better reflect the diverse content people see on their Feeds,” according to an email sent to The Verge by Facebook spokesperson Dami Oyefeso. The change “does not impact the app experience more broadly.”

There’s a lot in a name, though, and the rebranding seems to reflect Facebook’s messy relationship with distributing news stories. Research has shown that misinformation gets significantly more engagement on the platform than fact-based reporting, and regulators have been looking into how big tech companies algorithmically rank content in their feeds. For its part, Meta has said it’s working on reducing the amount of political content that shows up on people’s homepages — its own research suggested that the News Feed’s algorithm could push even politicians to take more extreme positions.

Information about politics and current events, rather than posts from your cousin about their engagement, are the types of things you’d expect to find in something called a “news feed.” Personally, that makes it hard not to read the name change as a subtle reframing of how seriously I should take the content the algorithm is serving.

The name change could also help clear up potential confusion within the app. Over a decade and a half ago, when the News Feed was introduced, Facebook didn’t also have a News tab that users could mix it up with. In a memo to employees, Meta said the “News Feed” name made people think it was a place for news stories instead of posts from friends.



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Dorsey-led Square rebrands to Block in nod to blockchain

Dec 1 (Reuters) – Square Inc (SQ.N), the payments company led by Twitter Inc (TWTR.N) co-founder Jack Dorsey, said on Wednesday it was changing its name to Block Inc, as it looks to expand beyond its payment business and into new technologies like blockchain.

The San Francisco-based company said the name “Square” had become synonymous with it’s seller business. The new name would distinguish the corporate entity from its businesses, Square added, a strategy similar to Meta Platforms Inc’s (FB.O) rebrand last month.

The company said there would be no organizational changes and its different business units – Square, peer-to-peer payment service Cash App, music streaming service Tidal and its bitcoin-focused financial services segment TBD54566975 – will continue to maintain their respective brands. Shares were up nearly 1% in extended trading.

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“The name has many associated meanings for the company — building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome,” Square said in a statement.

Jack Dorsey, co-founder of Twitter and fintech firm Square, sits for a portrait during an interview with Reuters in London, Britain, June 11, 2019. REUTERS/Toby Melville

The move comes days after Dorsey stepped down from his role as chief executive officer at Twitter. The digital payments giant’s Square Crypto, a team “dedicated to advancing Bitcoin”, will also change its name to Spiral.

Under Dorsey, who has frequently expressed his interest in the cryptocurrency, Square bought $50 million worth of bitcoin even before the wave of institutional interest that propelled the digital currency’s price to record highs this year. In February, it further raised its wager and invested another $170 million in it.

Square has also been weighing the creation of a hardware wallet for bitcoin to make its custody more mainstream.

The new name would become effective on or about Dec. 10, Square said, but the “SQ” ticker symbol on the New York Stock Exchange would not change at this time.

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Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri

Our Standards: The Thomson Reuters Trust Principles.

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Angie’s List rebrands as one-stop shop for home improvement services

The internet service company known as Angie’s List has rebranded, revamped its website and launched a new app as it looks to further penetrate the home services industry.

Under its new name, Angi wants to smooth out the home renovation process by offering consumers a single platform to connect with contractors, book and make payments. The opportunity has an addressable market of $500 billion, CEO Oisin Hanrahan told CNBC Wednesday.

“This is a huge market … It’s everything you need done inside your home,” he said in a “Mad Money” interview. “This is an enormous market. It’s unbelievably broken.”

The holding company changed its name from ANGI Homeservices to Angi Inc. It’s portfolio of services includes HomeAdvisor, Handy, Fixd Repair and HomeStars.

Planning an improvement project can be stressful for the average homeowner, from finding a professional for the job to negotiating prices to figuring out financing for costly work. Hanrahan said Angi was designed to help streamline a job by letting consumers handle everything in one place.

“There’s so much friction in the buying process,” said Hanrahan, putting emphasis on the importance of the customer experience.

Angi said it has 250,000 businesses for hire on its platform, which was used by more than 18 million U.S. households last year.

And with homebound consumers looking to remodel their living situations amid the pandemic, Angi saw double-digit growth in 2020. The company reported about $1.47 billion in revenues for the year, up 10.7% from 2019.

“If we make that experience unbelievably easy by supporting our pros, giving them great work, then our customers will keep coming back,” he said. “We’ll see us really change the category from one that’s incredibly fragmented to one that’s much more consolidated.”

Shares of Angi fell 1.74% on Wednesday to close at $16.33 per share.

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