MARKET TALK: CDS On BP Tighten Further On PIMCO Buying
16th Jun 2010 19:20
1815 GMT [Dow Jones] The cost of insuring debt issued by BP against default continues to fall, helped by certainty attached to the size of the company's claims escrow account and comments by Pimco's Bill Gross. "At this point, if you can get 10% for one-year paper on BP, we think it's closer to doub
Read moreUPDATE:BP Could Face Larger Fines As US Raises Spill Estimates
16th Jun 2010 19:19
(Adds statement from BP PLC.) By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--As federal officials raise their estimates on the amount of oil flowing out of the Deepwater Horizon spill, BP PLC (BP, BP.LN) and other companies face increasingly higher fines from the feder
Read moreBP Could Face Higher Fines As US Raises Spill Estimates
16th Jun 2010 19:09
By Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--As federal officials raise their estimates on the amount of oil flowing out of the Deepwater Horizon spill, BP PLC (BP, BP.LN) and other companies face increasingly higher fines from the federal government. The fines could
Read moreBP WATCH: BP Shares Pare Declines After Agreement For $20B Fund
16th Jun 2010 18:57
By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP shares bounced in the U.S. Wednesday afternoon following reports that the oil giant and the White House had reached a preliminary agreement on a $20 billion fund to help pay for the long-term damages of the Gulf oil d
Read moreMARKET TALK: BP Bond Yields Settle On Escrow Announcement
16th Jun 2010 18:49
1:49 (Dow Jones) BP bond yields are gyrating along with equities and CDS levels. Yields have settled down on news that the oil giant will put $20B in escrow for future oil-spill claims. Yields for BP's most volatile issue, BP's 1.55% of 2011, had been quoted as high as 13.307%, but had fallen to 9.6
Read morePimco's Gross: Firm Has Started Buying BP 1-Year Bonds -CNBC
16th Jun 2010 18:39
DOW JONES NEWSWIRES Bill Gross, co-investment chief for Pacific Investment Management Co., said Wednesday that the huge bond-fund firm holds "very small amounts" of debt of BP PLC (BP, BP.LN) but has recently begun buying one-year bonds issued by the oil company. Gross, interviewed on CNBC,
Read more2nd UPDATE: Liability And Settlement Whipsaw BP's Debt Swaps
16th Jun 2010 18:20
(Updates CDS level, adds bondholder quote.) 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 falling again on news of a deal with the U.S. government over t
Read moreUS HOT STOCKS: DreamWorks, JDA Software, Kenneth Cole, Mylan -2-
16th Jun 2010 18:17
Boston Private Financial Holdings Inc. (BPFH, $6.66, +$0.53, +8.65%) released terms for its planned sale of $25 million of stock, saying it will sell 4.1 million shares just 3 cents below Tuesday's closing price. The initial public offering market returned to the doldrums Wednesday with a deal
Read moreMARKET TALK: BP Bond Yields Settle On Escrow Announcement
16th Jun 2010 18:14
1712 GMT [Dow Jones] BP bond yields are gyrating today along with equities and CDS levels. Yields have settled down on news that the oil giant will put $20B in escrow for future oil-spill claims. Yields for BP's most volatile issue, BP's 1.55% of 2011, had been quoted as high as 13.307%, but had fal
Read moreAT A GLANCE: BP Executives Meet With Obama Administration
16th Jun 2010 18:01
THE NEWS BP PLC (BP, BP.LN) Chairman Carl-Henric Svanberg, Chief Executive Tony Hayward and other company executives are meeting with President Barack Obama and Vice President Joe Biden at the White House. BP agreed to put about $20 billion in an independently administrated oil-spill escrow
Read moreUPDATE: Cost Of Protecting BP Debt Whipsawed By Developments
16th Jun 2010 18:01
(Updates levels, adds settlement agreement.) 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 falling again on news of a deal with the U.S. government over
Read moreMARKET TALK: CDS On BP Start To Pull In On Escrow News
16th Jun 2010 17:55
1649 GMT [Dow Jones] Credit default swaps on BP have started to tighten, after hitting fresh wides, on report the company has agreed to put $20 billion in escrow for future oil spill claims. CDS on the UK oil giant were quoted as high as 625 BP, equivalent to $625,000 per year to cover $10M of BP de
Read moreUPDATE: Source:BP, White House Reach Preliminary Deal On $20B Fund
16th Jun 2010 17:53
(Updates with details in the third paragraph of who will oversee the fund and background from Obama's speech.) By Jared A. Favole Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--BP Plc (BP, BP.LN) and the White House have reached a preliminary agreement on a $20 billion fund to help pay
Read moreMARKET TALK:BP Has Ability To Fund $20B Escrow Account-Analyst
16th Jun 2010 17:40
[Dow Jones] A $20 billion escrow account is large in proportion, but it's certainly something BP PLC (BP) is able to fund, says Jason Gammel, analyst at Macquarie Research. "Regardless how the payments mechanically happen, BP has the financial strength to fund it," Gammel says. "They have enough cas
Read moreSource:BP, White House Reach Preliminary Pact On $20B Escrow Fund
16th Jun 2010 17:37
By Jared A. Favole Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--BP Plc (BP, BP.LN) and the White House have reached a preliminary agreement on a $20 billion fund to help pay for the long-term damages of the Gulf oil disaster that is spewing millions of gallons of oil off the Louisiana coas
Read more