TAKING STOCK:BP Shares Still Haven't Priced In Enough Bad News
17th Jun 2010 20:50
By Tomi Kilgore Of DOW JONES NEWSWIRES Wall Street traders tend to see stabilization in the face of bad news as a sign that a stock may be bottoming. That might make some believe BP PLC's U.S.-listed shares (BP) have priced in all the bad news, and are getting ready for a rally, but the sha
Read morePRESS RELEASE: S&P Downgrades Jupiter Insurance Ltd. To 'A'; On Watch Neg
17th Jun 2010 20:50
The following is a press release from Standard & Poor's: -- We are lowering the long- and short-term ratings on Jupiter Insurance Ltd.'s parent BP PLC and keeping them on CreditWatch negative, following an increase in our estimate of the parent company's short- and long-term liabilities.
Read morePRESS RELEASE: S&P Lowers BP Ratings To 'A/A-1'; Still On Watch Neg
17th Jun 2010 20:43
The following is a press release from Standard & Poor's: -- Higher oil leak estimates resulting from the subsea explosion at BP's Macondo well in the Gulf of Mexico and questions raised during a U.S. Congressional hearing are, among other things, increasing our estimated short- and long-term p
Read morePRESS RELEASE: S&P Lowers BP Ratings To 'A/A-1'; -2-
17th Jun 2010 20:43
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Read more5th UPDATE: Rep Waxman Blasts BP CEO At Congressional Hearing
17th Jun 2010 20:30
(Updates with more comments from BP CEO Hayward, lawmakers.) 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 o
Read moreBP WATCH: BP's Cut To Declared 1Q Dividend Marks Unusual Move
17th Jun 2010 20:21
By Donna Kardos Yesalavich and Brendan Conway Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP) decision not to pay a first-quarter dividend it had already declared has upset some investors. Typically, once a company says it will pay a dividend to holders as of a certain date, i
Read moreBiden: Rep Barton's Apology To BP 'Incredibly Insensitive'
17th Jun 2010 20:14
By Jared A. Favole Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Vice President Joe Biden on Thursday said it was "incredibly insensitive" for Rep. Joe Barton (R., Texas) to apologize to BP Plc (BP, BP.LN) for the White House's pressure on the company to set aside $20 billion to help compen
Read moreFreddie Mac Starts Mortgage Relief For Gulf Coast Homeowners
17th Jun 2010 19:56
DOW JONES NEWSWIRES Freddie Mac (FRE) said Thursday it was invoking a mortgage-relief policy for borrowers hurt by the massive oil spill in the Gulf of Mexico, echoing similar moves by sister company Fannie Mae (FNM) a day earlier. A massive oil slick spreading from a BP PLC (BP, BP.LN) dee
Read morePRESS RELEASE: Moody's Puts Southern And Three Utilities On Review For Possible Downgrade
17th Jun 2010 19:31
The following is a press release from Moody's Investors Service: Approximately $12 Billion of Debt Securities Affected New York, June 17, 2010 -- Moody's Investors Service placed the ratings of The Southern Company (A3 Senior Unsecured); Georgia Power Company (A2 Senior Unsecured); Gulf Power Co
Read morePRESS RELEASE: Moody's Puts Southern And Three -2-
17th Jun 2010 19:31
circumstance or contingency within or outside the control of MOODY'S or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indire
Read moreAT A GLANCE: BP CEO Faces US Lawmakers; Says 'Not Involved' In Key Decisions
17th Jun 2010 19:28
THE NEWS U.S. lawmakers on Thursday blasted BP PLC (BP, BP.LN) Chief Executive Tony Hayward on safety standards, with the CEO saying he was "not involved" in key decisions about the mile-deep oil well that blew out in April. Hayward also deflected attempts by lawmakers to determine whether
Read moreMARKET TALK: BP Tax Breaks Not An Issue At White House Meeting
17th Jun 2010 19:24
2:24 (Dow Jones) US Attorney General Eric Holder said tax breaks that BP might claim against its costs for cleaning up the Gulf of Mexico oil spill didn't come up in Wednesday's meeting at the White House. Holder, who attended the meeting, said "he hadn't heard" discussion of BP possibly deducting f
Read moreAttorney General:BP Tax Break Didn't Come Up At White House Meeting
17th Jun 2010 19:21
WASHINGTON (Dow Jones)--U.S. Attorney General Eric Holder said tax breaks that BP might claim against its costs for cleaning up the Gulf of Mexico oil spill didn't come up in Wednesday's meeting at the White House. Holder, who attended the meeting, said "he hadn't heard" discussion of BP possibl
Read more4th UPDATE: Rep Waxman Blasts BP CEO At Congressional Hearing
17th Jun 2010 19:18
(Updates with more comments from BP CEO Hayward, lawmakers.) 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 o
Read moreBP CEO Hayward: 'Not Prepared To Draw Conclusions' About Accident
17th Jun 2010 19:02
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--BP PLC (BP, BP.LN) Chief Executive Tony Hayward swatted down several attempts by U.S. lawmakers Thursday to determine whether his company made poor decisions in the days and weeks up to the Deepwater Horizon oil spill. In a
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