2nd UPDATE: BP Starts Collecting Oil With Second Containment System
16th Jun 2010 17:22
(Adds details throughout) By Susan Daker and Jeffrey Sparshott Of DOW JONES NEWSWIRES BP PLC (BP, BP.LN) put a second containment vessel into operation in the early morning hours Wednesday, a long-awaited move that the company says will allow for increased collection of oil from the mass
Read moreMARKET TALK: BP's CDS At 600BP; Upfront Costs Next
16th Jun 2010 17:15
1602 GMT [Dow Jones] Some dealers are reportedly quoting BP's CDS in upfront points for the first time, according to person familiar with CDS trades. CDS trade upfront when sellers of the CDS want a higher premium due to increased risk of default. BP's CDS level was quoted at 600BP, according to Mar
Read moreBP Bolsters Liquidity With Loan For Oil Spill Claims -Sources
16th Jun 2010 17:01
By Carol Dean Of Dow Jones Newswires LONDON (Dow Jones)--BP PLC (BP) arranged a $5.25 billion standby credit facility with a group of banks in early June for general corporate purposes and to bolster its balance sheet for possible claims against the oil spill in the Gulf of Mexico, people fa
Read moreLondon close: Footsie edges higher
16th Jun 2010 16:47
Footsie closed slightly higher on a fairly lacklustre day for the leading share index. Part-nationalised lender Royal Bank of Scotland went well on a day which saw it shed two parts of its sprawling empire. It has reached agreement for the sale of its 99.37% holding in RBS Pakistan to Faysal Bank L
Read moreUPDATE: BP's 2nd System To Collect Gulf Oil Spill Operating
16th Jun 2010 16:13
(Adds background.) LONDON (Dow Jones)--BP PLC (BP) Wednesday said it was collecting oil and gas from a second containment system attached to the Macondo well's failed blowout preventer, potentially allowing it to gather more of the oil spilling into the Gulf of Mexico. The vessel, called th
Read moreMARKET TALK: Bond Yields Rise With CDS For BP, APC and RIG
16th Jun 2010 16:07
1504 GMT [Dow Jones] With BP's CDS levels now quoted at an all-time high and CDS levels for APC and RIG on the rise, bond yields for the three are also moving up. BP PLC's short-dated notes are most actively traded, with BP's 1.55% of 2011 up 236 BP on the day to 11.137%. TransOcean's 8.7% of 2019 i
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
16th Jun 2010 16:06
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1506 GMT [Dow Jones] Ambrian has lowered BHP Billiton's (BHP) rating to a hold from a buy and target price to 2,180p from
Read moreMARKET TALK: Ambrian Cuts BHP Rating On Oil Jitters, Economy
16th Jun 2010 16:06
1506 GMT [Dow Jones] Ambrian has lowered BHP Billiton's (BHP) rating to a hold from a buy and target price to 2,180p from 2,800p due to concerns that BP's (BP) oil spill may have negative consequences for all oil operators in the Gulf of Mexico. Also a cooling off in global economy during the summer
Read moreCost Of Protecting BP's Debt Soars To Highest Level Ever
16th Jun 2010 15:54
By Anusha Shrivastava Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The cost of protecting beleaguered oil company BP PLC's (BP, BP.LN) debt soared Wednesday to its highest level ever after President Barack Obama's criticisms and Tuesday's ratings downgrades. Its credit default swaps, or
Read moreAT A GLANCE: BP Executives To Meet With Obama Administration
16th Jun 2010 15:40
THE NEWS BP PLC (BP, BP.LN) Chairman Carl-Henric Svanberg, Chief Executive Tony Hayward and other company executives planned to meet with President Barack Obama and Vice President Joe Biden at 10:15 a.m. EDT at the White House. Obama made his first Oval Office address Tuesday since taking o
Read moreUS HOT STOCKS: Cytomedix, DreamWorks, Fannie, Freddie -2-
16th Jun 2010 15:35
Blockbuster Inc. (BBI, $0.29, +$0.04, +15.96%) shares rose after the movie-rental chain's chief executive said on CNBC that the company is doing its best to meet financial obligations. Last month, the CEO said Blockbuster had made headway in cost reductions and that he expected the company to have s
Read moreUPDATE:BP Unlikely To Have To Sell Assets To Fund Spill-Fitch
16th Jun 2010 15:24
(Adds detail.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--BP PLC (BP) is unlikely to have to sell assets to pay the costs of its oil spill in the Gulf of Mexico and the company will probably not be broken up as a consequence of the environmental disaster, said represent
Read moreCORRECT(6/15): Obama: BP Oil Spill Like An 'Epidemic'
16th Jun 2010 15:18
("2nd UPDATE: Obama: BP Oil Spill Like An 'Epidemic'," at 8:59 p.m. EDT Tuesday incorrectly attributed to President Obama the mention of the size of an escrow fund the government wants BP to set up. The original story published at 8:17 p.m. and update at 8:34 p.m. Tuesday also contained the error. A
Read moreBP Executives Arrive At White House For Talks With Obama
16th Jun 2010 15:15
WASHINGTON (AFP) -- Top BP Plc (BP) executives arrived at the White House Wednesday for talks with President Barack Obama on the massive oil spill fouling the Gulf of Mexico coast. Eight bosses from the British energy giant, including chairman Carl-Henric Svanberg, chief executive Tony Hayward,
Read moreFitch: BP Unlikely To Have To Sell Assets To Fund Spill Costs
16th Jun 2010 15:09
LONDON (Dow Jones)--BP PLC (BP) is unlikely to have to sell assets to pay the costs of its oil spill in the Gulf of Mexico and the company will probably not be broken up as a consequence of the environmental disaster, said representatives of Fitch Ratings Wednesday. "We expect BP to make it thro
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