AT A GLANCE: BP CEO Faces US Lawmakers; Says 'Not Involved' In Key Decisions
17th Jun 2010 00:33
THE NEWS U.S. lawmakers blasted BP PLC (BP, BP.LN) Chief Executive Tony Hayward on safety standards and for declining to answer questions Thursday, with the CEO saying he was "not involved" in key decisions about the mile-deep oil well that blew out in April. As the sole witness at a congre
Read moreMARKET TALK: BHP Billiton Valuation Compelling - Citi
17th Jun 2010 00:20
2320 GMT [Dow Jones] Citi says the valuation on offer for BHP Billiton (BHP.AU) is too compelling to ignore, despite the headwinds of the Australian mining tax and tighter regulation of Gulf of Mexico assets. Says the mining tax could knock about US$20 billion off its valuation for the miner and the
Read moreUS Closes More Of Gulf To Fishing; Area Now 33% Of Gulf Federal Waters
16th Jun 2010 23:57
DOW JONES NEWSWIRES The National Oceanic and Atmospheric Administration on Wednesday expanded the area of the Gulf of Mexico closed to fishing due to the oil spill, reversing course after last week opening up some territory. The closure area, increased to capture portions of the oil slick,
Read moreBP CEO: To Tell Congress He Grasps Spill's 'Terrible Reality'
16th Jun 2010 23:49
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--BP PLC (BP, BP.LN) Chief Executive Tony Hayward will on Thursday tell the U.S. Congress that "I fully grasp the terrible reality" of a damaged well that continues to spew oil across the Gulf of Mexico. "People lost their l
Read moreBP WATCH: BP's US Shares Close Higher On Dividend Cut, $20B Fund
16th Jun 2010 23:32
(Updates with closing price, additional comments from investors) By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP, BP.LN) American depositary shares rose Wednesday after the oil giant said it won't issue further dividends this year and confirmed an agr
Read moreUPDATE: BP Bonds Rally On Dividend Cut And Cleanup Fund
16th Jun 2010 23:21
(Adds investor comment on BP shares and bonds) By Chris Dieterich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC (BP, BP.LN) bonds rallied Wednesday after the company agreed to cut its dividend and put $20 billion into an independently administered fund to help pay for claims as a r
Read moreHEARD ON THE STREET: BP Caves, Constructively
16th Jun 2010 23:10
By Liam Denning A DOW JONES COLUMN Both President Barack Obama and BP Chairman Carl-Henric Svanberg described Wednesday's summit as "constructive." It would be interesting to know exactly how Svanberg defines that word. The president certainly got what he wanted. BP suspended dividend pa
Read moreAT A GLANCE: BP Agrees To $20B Claims Fund In Obama Meeting
16th Jun 2010 23:03
THE NEWS BP PLC (BP, BP.LN) said it won't issue further dividends this year and agreed to put $20 billion in an independently administered oil-spill escrow fund to help pay for claims as a result of the Gulf oil disaster. BP announced the moves after Chairman Carl-Henric Svanberg, Chief Exe
Read more3nd UPDATE: Citi, Fannie Provide Relief For Some Gulf Homeowners
16th Jun 2010 23:02
(Adds comment from Wells Fargo) By Matthias Rieker Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Troubled homeowners in coastal areas affected by the oil spill are getting some relief from Citigroup Inc. (C) and Fannie Mae (FNM). Citi announced a three-month suspension, effective Thur
Read more4th UPDATE: Liability And Settlement Whipsaw BP's Debt Swaps
16th Jun 2010 22:57
(Adds CDS level, BP quote and CDS volume in the third, fourth, eighth, 13th to 15th and 19th paragraphs.) By Katy Burne and Anusha Shrivastava Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The cost of protecting BP PLC's (BP, BP.LN) debt soared to its highest level ever Wednesday before f
Read moreBP's Oil Trading Hums Along Despite Deteriorating Credit Risk
16th Jun 2010 22:42
By Brian Baskin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP, BP.LN) oil trading partners are sticking by the beleaguered company for now, even as concerns mount in other markets over escalating cleanup costs for the Gulf of Mexico oil spill. People familiar with operations
Read moreBP Adviser: BP's $100 Mln Fund Payment Is A 'Goodwill Gesture'
16th Jun 2010 22:32
By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--BP PLC (BP, BP.LN)'s agreement to contribute $100 million to a fund for laid-off oil-services workers was "voluntary" and the oil company doesn't believe it is legally responsible for such payments, a BP adviser said on Wednesd
Read moreADR Report: ADRs Close Mixed With Europe, Asia Weak
16th Jun 2010 22:31
By Adam Cancryn Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York closed mixed Wednesday, with slight losses in the European and Asian indexes offsetting gains in the Latin American and emerging markets indexes. The Bank of New York index of ADRs fe
Read moreCREDIT MARKETS: BP Bonds Rally While Weak Data Boosts Safety
16th Jun 2010 22:29
By Chris Dieterich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The debt markets opened on a neutral tone Wednesday on worse-than-expected housing-start data, but added some vigor in the afternoon after a top fixed-income chief endorsed the purchase of debt issued by BP PLC (BP, BP.LN) and t
Read moreCREDIT MARKETS: BP Bonds Rally While Weak Data -2-
16th Jun 2010 22:29
Renewed talk of a bailout for Spain caused euro-zone debt fears to flare again. As International Monetary Fund Managing Director Dominique Strauss-Kahn heads to Spain, a newspaper reported that the European Union, the IMF and the U.S. Treasury are in talks about a EUR250 billion ($308.68 billion) li
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