Cost cuts and time saving caused BP oil spill
6th Jan 2011 08:07
Decisions taken by the three main contractors involved in the BP oil spill to save both money and time contributed to the disaster in the Gulf of Mexico, according to a White House panel. A 48-page report blasted safety standards across the industry, but reserved special attention for BP, Halliburt
Read moreThursday newspaper round-up: BP, global boom, Osborne
6th Jan 2011 06:31
All three main contractors in the BP oil spill took decisions that cut costs but increased the risk of a catastrophic blow-out at the well-head, the final report of the White House panel concluded last night. In a scathing indictment of safety standards across the industry, the report said the worst
Read moreLondon close: Strong start to 2011 continues
5th Jan 2011 16:44
An afternoon rally helped the FTSE 100 build on yesterday's strong start to the year and stay at levels not seen since the first half of 2008, well in advance of the global economic crash. The turnaround in fortunes was inspired by some strong US jobs data, with payroll processor ADP reporting a re
Read moreLondon afternoon: Footsie back above 6,000
5th Jan 2011 14:04
Footsie has scrambled back above 6,000 over the lunch time session though the blue-chip index remains slightly lower on the day. Miners remain a drag on the index, with the likes of Antofagasta, Anglo American, BHP Billiton and Kazakhmys falling back in line with softer metals prices. Retailers
Read moreLondon midday: Shares give back some gains
5th Jan 2011 12:07
The FTSE 100 is firmly in the red after yesterday's strong gains amid weakness in the mining and retail sectors. With metals prices falling back following a strong run recently, miners such as Antofagasta, BHP Billiton and Kazakhmys are weak. Retailers are in focus, with Next one of the top riser
Read moreLondon open: Blue chips open lower
5th Jan 2011 08:56
London has opened weaker, continuing the softer trend seen towards the end of yesterday's session with retailers and food groups under pressure. The snow lost Next an estimated £22m of full price sales in the run-up to Christmas - about 2.2% of the season's total sales - although the high street fa
Read moreEx-BP man Inglis joins Petrofac
5th Jan 2011 07:07
Oil fabrications giant Petrofac has confirmed the appointment of Andy Inglis, the former head of BP's exploration and production and who was in charge of safety at the time of the Gulf of Mexico oil spill. Inglis will head up Petrofac's Energy Developments and Production Solutions businesses. He wi
Read moreWednesday newspaper round-up: Oil, Wheat, BP...
5th Jan 2011 06:37
High oil prices threaten to derail the fragile economic recovery among developed nations this year, the leading energy watchdog has warned, putting pressure on the Opec oil cartel to increase production. Over the past year the oil import costs for the 34 mostly rich countries that make up the Organ
Read moreLondon close: FTSE 100 storms past 6,000
4th Jan 2011 16:36
The top share index lost some if its strong early gains ahead of the close, but still finished above the psychologically important 6,000 point mark on a storming start to 2011. Oil giant BPwas boosted by reports that rival Shell looked into making a bid for the company in the wake of last year's G
Read moreLondon afternoon: Triple digit rise for Footsie
4th Jan 2011 14:31
Bid speculation is adding froth to a London stock market already playing catch-up with European and US markets that posted strong gains yesterday. Oil giant BPis boosted by reports that rival Shell looked into making a bid for the company in the wake of last year's Gulf of Mexico oil spill, which s
Read moreFTSE 100 movers: Banks push higher
4th Jan 2011 13:40
Banks are helping to push the index higher on the back of positive economic data published yesterday. RBS, Barclays and Lloyds are all ahead. Bid rumours have boosted BP with talk that Shell has considered an offer for the giant oil company. Silver miner Fresnillo continues to rise on the bac
Read moreLondon midday: FTSE 100 roars past 6,000 points
4th Jan 2011 12:01
The top share index's storming start to 2011 continues, with the FTSE 100 now well clear of 6,000 points and sitting at levels not seen since the first half of 2008. Among today's high fliers is BP, with the oil giant boosted by reports that rival Shell looked into making a bid for the company in t
Read moreLondon close: Footsie winds down as 2011 nears
30th Dec 2010 16:55
London closed shy of the 6,000 mark after a late dip in very light volumes with little for either buyers or sellers to get their teeth into. Fresnillo was an exception thanks to another strong day on the metals exchanges as silver hit a new 30-year high. Copper traded above $9,500 per tonne on the
Read moreLondon midday: Traders go 'cold turkey' on shares
30th Dec 2010 12:23
Traders are regarding UK shares with all the enthusiasm of someone being offered another round of cold turkey sandwiches, as the lull between Christmas and New Year continues. Fallers outnumber risers by around two to one among Footsie constituents, with miners reflecting the mixed picture. Silver
Read moreLondon open: Blue chips very flat
30th Dec 2010 09:10
Trading so far seems even quieter than yesterday, with very little news to get the attention of either buyers or sellers. BP is off the pace after it faced more US litigation with an investor lawsuit claiming the oil giant repeatedly lied about its safety record over the past five years. Miners ar
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