2nd UPDATE: BP To Slim Down, Refocus In Wake Of Gulf Oil Spill
27th Jul 2010 11:01
(Adds analyst, investor comment, details.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--In the wake of a huge loss due to the Gulf of Mexico oil spill, BP PLC (BP) Tuesday launched a radical shakeup, including plans to sell around $30 billion in assets, appoint a new chief
Read moreBEFORE THE BELL: US Stock Futures Up On Strong Euro Bank Earnings
27th Jul 2010 10:57
By Polya Lesova Stock futures pointed Tuesday to another day of gains on Wall Street, as strong results from European banks including UBS and Deutsche Bank buoyed market sentiment ahead of a string of earnings reports from the U.S. Traders also digested news of a $17.2 billion quarterly los
Read moreMARKET TALK: BP Oil Spill Provisions Could Rise - C Suisse
27th Jul 2010 10:18
0918 GMT [Dow Jones] BP's provision of $32.2B for costs related to the Gulf of Mexico oil spill are based on optimistic assumptions and there are risks it might have to make further provisions in following quarters as the various investigations on the causes of the accident progress, warns Credit Su
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
27th Jul 2010 10:09
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0909 GMT [Dow Jones] BP (BP) +0.5% at 419p, following the release of 2Q results. Overall the statements are positive, says Co
Read moreMARKET TALK: BP 2Q Statement Positive -Collins Stewart
27th Jul 2010 10:09
0909 GMT [Dow Jones] BP (BP) +0.5% at 419p, following the release of 2Q results. Overall the statements are positive, says Collins Stewart, as although it announced major charges for the US spill, BP's free cash generation and balance sheet position remain strong. Says the succession of CEO Tony Hay
Read moreMARKET TALK: Oil Spill Casts Long Shadow Over BP's 2Q Results
27th Jul 2010 09:52
0852 GMT [Dow Jones] BP's (BP.LN) 2Q earnings have the Gulf of Mexico Macondo oil spill disaster casting a long shadow over them, says Evolution Securities. Says the company reports underlying net income of $5B, up 70% year-on-year, but the headline figure was hit by a $32.2B pre-tax charge relating
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
27th Jul 2010 09:52
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0852 GMT [Dow Jones] BP's (BP.LN) 2Q earnings have the Gulf of Mexico Macondo oil spill disaster casting a long shadow ove
Read more2nd UPDATE: BP Prioritizes Restoration Of US Reputation With New CEO
27th Jul 2010 09:35
(Adds CEO comment, background.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--BP PLC (BP) said Tuesday that Robert Dudley, the executive director who heads the company's oil spill response effort in the Gulf of Mexico, will lead the entire company from October 1 when embattl
Read moreEuropean open: Bank up after quarterly figures
27th Jul 2010 09:08
Banking shares are leading the rise in early dealings Tuesday morning after a number of positive earnings reports. Investors also focus on BP. The oil giant confirmed Tony Hayward is to step down as chief executive of the group on 1 October to be succeeded by fellow executive director Bob Dudley.
Read moreUPDATE: BP To Slim Down, Refocus In Wake Of Gulf Oil Spill
27th Jul 2010 09:07
(Rewrites, adds details.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--In the wake of a huge loss due to the Gulf of Mexico oil spill, BP PLC (BP) Tuesday launched a radical shakeup, including plans to sell around $30 billion in assets, appoint a new chief executive and alt
Read moreGreenpeace Activists Close BP Gasoline Stations In London - BBC
27th Jul 2010 09:01
LONDON (Dow Jones)--Activists from the environmental pressure group Greenpeace have forced the closure of a number of BP PLC (BP) gasoline stations in central London, the BBC reports on its website Tuesday. Greenpeace said it had shut off the fuel supplies to all stations in the area. The oil co
Read moreLondon open: Strong start for blue chips
27th Jul 2010 08:49
Footsie is making good gains in early trading, though BP, the big story this morning, has not joined in as yet. The oil giant BP confirmed Tony Hayward is to step down as chief executive of the group on 1 October to be succeeded by fellow executive director Bob Dudley. The group also unveiled a $
Read moreUPDATE: TNK-BP Second Quarter Net Profit Down 8%; Output Grows
27th Jul 2010 08:42
(Adds comment, detail.) By Jacob Gronholt-Pedersen Of DOW JONES NEWSWIRES MOSCOW (Dow Jones)--Anglo-Russian oil producer TNK-BP International said Tuesday its second-quarter net profit fell 8%, but that the company remains on track to boost output as it posted production growth for the e
Read moreBP posts record loss, unveils new boss
27th Jul 2010 08:36
BP fell into losses in the second quarter as the Gulf of Mexico oil spill took its toll. As expected the oil giant announced the departure of Tony Hayward as chief executive. The firm, which said Hayward will be replaced by fellow executive director Bob Dudley on October 1, took a $32.2bn charge f
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
27th Jul 2010 08:31
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0731 GMT [Dow Jones] BP (BP) is moving aggressively to position itself for the tough times ahead, says Richard Hunter, Head o
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