Energy giant Shell profits slump 62%

LONDON: British energy giant Royal Dutch Shell said Thursday that third-quarter net profit slumped 62 percent from a year earlier to 3.25 billion dollars (2.21 billion euros).

"Out third quarter results were affected by the weak global economy," said Shell Chief Executive Peter Voser in a results statement, adding that 5,000 jobs will be axed by the end of 2009 in a cost-cutting programme announced earlier this year.