BP settles Prudhoe Bay civil suit
4th May 2011 07:06
Legal battles relating to the Gulf of Mexico oil spill look like running on for years but oil giant BP has at least drawn a line under the dispute over Prudhoe Bay oil transit line leaks in 2006, after settling with the US Department of Justice (DoJ). While not admitting any liability for the leaks
Read moreThursday tips round-up: ARM, Senior, 600
28th Apr 2011 07:16
Arm Holdings super-smart chips drive almost every smartphone on the market and its reach is now expanding well beyond advanced mobile phones. The stock trades on a huge multiple, which KBC Peel Hunt estimates at 54 times its estimated earnings for 2011. The Independent has Arm as one of its stock p
Read moreThursday newspaper round-up: National Express, Barclays, BP
28th Apr 2011 06:24
National Express, the coach and train operator, received a boost yesterday after three major corporate governance groups came out in support of the board in its battle with Elliott Advisors, the activist hedge fund, over motions it has tabled for next month's annual meeting. Pirc, ISS Governance Ser
Read moreLondon close: Flat finish on eventful day
27th Apr 2011 16:56
Shares lost their puff ahead of the close having burst into life following a sluggish start, but there were some big movers in both directions, particularly in the mid-cap index. First quarter GDP data was the main talking point though growth of 0.5% was in line with expectations. On the company f
Read moreLondon midday: FTSE 100 bounces back
27th Apr 2011 12:05
Shares are slightly in the blue now, though the relatively calm performance overall belies some big share price movements in both directions following a stream of updates. Banking giant Barclays is lower after saw adjusted profit before tax rise 10% in the first quarter of 2011, despite a 15% slide
Read moreLondon open: Stocks move both ways after updates
27th Apr 2011 08:32
Shares have edged slightly lower in early dealings with some big name company updates getting a poor reception, though there are some significant risers. Banking giant Barclays is lower after saw adjusted profit before tax rise 10% in the first quarter of 2011, despite a 15% slide in top-line incom
Read moreLondon pre-open: Shares to edge slightly lower
27th Apr 2011 07:56
Shares are expected to open slightly lower as traders digest a raft of trading updates and await first quarter economic growth data later this morning. Controversial oil colossus BP saw its first quarter profit advance to $7,124m from $6,079m the year before. Replacement cost profit dipped to $5,48
Read moreProfits sink at BP
27th Apr 2011 07:55
Petrochemical giant BP saw replacement cost profit fall in the first quarter of 2011 as the costs of the Gulf of Mexico clean-up continued to pile up. The company announced a 26.87% increase versus the prior quarter's mark in its net profit figure for the three months ended to 31 March, to $7.185bn
Read moreWednesday preview: BP, Barclays, Glaxo ...
26th Apr 2011 16:12
It is just over a year since the Gulf of Mexico Macondo oil well tragedy, an event that will continue to loom large over oil colossus BP when it announces its first quarter results on what is a busy Wednesday for company results. However, recent events in Russia are likely to be more to the forefro
Read moreTuesday newspaper round-up: Lloyds, HSBC, Barclays
26th Apr 2011 06:31
Lloyds Banking Group, which is now 43% owned by the taxpayer, is reported to be considering a sale of its pensions and insurance business Scottish Widows. The group's new chief executive, Antonio Horta-Osorio, is said to be poised to offload the subsidiary, possibly together with the bank's 60 per c
Read moreWednesday newspaper round-up: BP, Waitrose/Ocado, Formula 1
20th Apr 2011 06:07
BP lost valuable time at the height of its devastating accident in the Gulf of Mexico last year pursuing solutions to contain the oil spill that were never going to succeed, the chief executive of ExxonMobil has claimed. In a sharp criticism of the handling of the disaster, Rex Tillerson said Exxon'
Read moreBP extends share swap deadline with Rosneft
14th Apr 2011 15:38
Oil titan BP and Russian peer Rosneft have extended their $7.8bn share swap deadline for the 'Arctic Opportunity' following an arbitral panel's decision last week to keep an injunction prohibiting the close of the transaction in place until further notice. "It is in the interests of BP's long-term
Read moreThursday newspaper round-up: IMF on banks, UK economy, BP
14th Apr 2011 06:07
Debt-laden banks are the biggest threat to global financial stability and they must refinance a $3.6 trillion "wall of maturing debt" which comes due in the next two years, the International Monetary Fund said in its Global Financial Stability Report. Many European banks need bigger capital cushions
Read moreWednesday newspaper round-up: Interest rates, National Express, Tigers, helicopters
13th Apr 2011 06:05
Interest rates are likely to remain at their record low level for months to come after falling food prices brought a surprise drop in inflation. Vince Cable, the Business Secretary, openly encouraged the Bank to keep rates on hold, saying the UK economy "needs" low rates to recover, the Telegraph re
Read moreLondon close: Shares slump as worries resurface
12th Apr 2011 16:38
The top share index's losses were almost in the triple digits by the close of trade after a steady day of losses amid worries over global economic growth. The IMF lowered its US 2011 GDP growth forecast by -0.2 percentage points, to 2.8%. Nor did Britain emerge unscathed. The IMF revised down its
Read more