London pre-open: Small gains ahead
18th Jun 2010 07:33
BP could be in focus again after US politicians attacked BP's Hayward on Capitol Hill last night. London's top stocks are tipped to gain 10 points early on. US politicians carried out an eight hour-long assault on BP chief Tony Hayward last night, accusing the oil man of ignoring the risks his comp
Read moreUPDATE: US Gulf Oil Spill May Delay Offshore Output -IEA's Tanaka
18th Jun 2010 07:32
(Adds comments from Tanaka, IEA's outlook on global impact from oil spill, background) By Mari Iwata Of DOW JONES NEWSWIRES FUKUI, Japan (Dow Jones)--The oil spill in the U.S. Gulf of Mexico may delay offshore oil development due to a U.S. government moratorium on new offshore drilling
Read moreUPDATE: Australia's Energy Minister Promises Swift Action On Montara Oil Spill Report
18th Jun 2010 06:53
(Adds detail, Ferguson quotes) By Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Australia's Energy Minister Martin Ferguson on Friday vowed to act swiftly on the findings of an official investigation into the cause and handling of PTT Exploration & Production PCL's (PTTEP
Read moreFriday tips round-up: Ashtead, BP alternatives, Consort Medical
18th Jun 2010 06:52
Though plant hire group Ashtead raised its dividend by more than expected, the 2.9p-a-share payout is not covered by earnings. The shares remain one of the stock market's best plays on US economic recovery. But at 110¼p, down 3½p, they are up with events. No more than a hold says the Times. Promi
Read moreFriday newspaper round-up: BP, Songbird, Tesco
18th Jun 2010 06:33
Tony Hayward, the chief executive of BP, was accused of refusing to co-operate with a congressional investigation into the Gulf oil spill yesterday after repeatedly avoiding questions during a hostile eight-hour dressing down on Capitol Hill. Congressmen vented their fury at Mr Hayward as he repeat
Read moreMARKET TALK: BHP Has Potential Oil Opportunities In Gulf - ML
18th Jun 2010 02:37
0137 GMT [Dow Jones] BHP Billiton (BHP.AU) could potentially have the opportunity to up its stake in some quality Gulf of Mexico oil fields as BP (BP.LN) moves to sell assets to fund damage claims from the recent oil spill, Merrill Lynch says. BP has committed to sell US$10 billion in assets as it s
Read moreUS Considers Oil Disaster Aid From 22 Countries
18th Jun 2010 02:32
WASHINGTON (AFP)--More than 20 countries, from Canada to Japan, have offered assistance to the U.S. over the Gulf of Mexico oil disaster, very little of which has been accepted, the State Department said Thursday. Initially it turned down offers, but with workers locked in a race against time to
Read moreWells Fargo Becomes Latest Bank To Offer Mortgage Relief In Gulf
18th Jun 2010 01:06
DOW JONES NEWSWIRES Wells Fargo & Co. (WFC) was the latest mortgage issuer to offer loan relief to borrowers hurt by the huge oil slick spreading in the Gulf of Mexico. A massive oil slick spreading from a BP PLC (BP, BP.LN) deepwater well has been distressing local economies along the Gulf
Read moreBP Oil-Collection Rate Continues To Creep Higher
18th Jun 2010 00:35
DOW JONES NEWSWIRES BP PLC (BP, BP.LN) Friday night reported that its rate of oil recovery from a huge oil leak in the Gulf of Mexico continued to move higher as it optimizes its collection system. The company, which has been collecting and more recently flaring oil spewing from a broken de
Read more2nd UPDATE: Anadarko Blames BP's Action For Oil Spill; Cut To Junk
18th Jun 2010 00:08
(Adds context) By Kathy Shwiff and Angel Gonzalez Of DOW JONES NEWSWIRES Anadarko Petroleum Corp. (APC) late Friday called the oil spill in the Gulf of Mexico "preventable and the direct result of BP's reckless decisions and actions," allegations that BP PLC (BP, BP.LN) immediately rejec
Read morePRESS RELEASE: Vacuum Barges Deemed Safe to Join Oil Spill Response
17th Jun 2010 23:29
HOUMA, La. - The vacuum barges in Louisiana have been deemed safe to re-join the fight against the oil spill in the Gulf. The vacuum barges were temporarily removed from service after safety concerns occurred including stability and the lack of lifesaving and firefighting equipment. The Coast Gu
Read more9th UPDATE: US Lawmakers Blast BP CEO At Congressional Hearing
17th Jun 2010 23:15
(Updates with comments from Rep. Markey, Rep. Stupak.) By Siobhan Hughes, Tennille Tracy and Stephen Power Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. lawmakers on Thursday blasted BP PLC's (BP, BP.LN) chief executive at his first appearance before Congress since a deadly oil-rig
Read moreADR Report: Shares Rise On Late Rally, Strengthening Euro
17th Jun 2010 22:29
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed higher, following a late-day rally as the strengthening euro offset disappointing manufacturing and jobs reports. The Bank of New York index of ADRs edged up 0.1% to 120.93.
Read moreMARKET TALK: BP CDS Still Unmoved At The Close
17th Jun 2010 22:18
2118 GMT [Dow Jones] Credit default swaps on BP looked relatively rosy at the close in NY Thu, trading at 470 basis points, according to Markit--144BP better than Wed's close. That's despite criticisms of BP CEO Tony Hayward's performance at a regulatory grilling on Capitol Hill and a downgrade by S
Read more8th UPDATE: US Lawmakers Blast BP CEO At Congressional Hearing
17th Jun 2010 22:07
(Updates with comment from Rep. Stupak and BP CEO Hayward.) By Siobhan Hughes, Tennille Tracy and Stephen Power Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. lawmakers on Thursday blasted BP PLC's (BP, BP.LN) chief executive at his first appearance before Congress since a deadly oi
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