London pre-open: Footsie eyes 5,200
14th Jun 2010 07:39
Global stock markets are responding to Friday's late recovery in the US when better consumer confidence data outweighed weak retail sales figures. Wall Street had been trading lower when London shut up shop for the weekend, but a surge of buy orders during the last hour of trade had the Dow Jones u
Read moreBP: Cost Of Response To Date Amounts To $1.6B
14th Jun 2010 07:15
LONDON (Dow Jones)--BP PLC (BP.LN), an oil and gas company, announced Monday in the response to the MC252 oil well incident in the Gulf of Mexico, that the cost of the response to date amounts to $1.6 billion, including the cost of the spill response, containment, relief well drilling, grants to the
Read moreBP spill cost tops £1bn
14th Jun 2010 07:10
The oil disaster in the Gulf of Mexico has now cost BP £1.1bn ($1.6bn) and the pressure on the oil giant is likely to intensify over the next few days as Barack Obama prepares to address the American people tomorrow. Over 51,000 claims have been submitted since the MC252 oil well blew up in the Gul
Read moreMonday newspaper round-up: BP, OBR, Coffee
14th Jun 2010 06:36
President Obama will address the American people tomorrow night to prepare them for what his Administration accepts will be an environmental catastrophe in the Gulf of Mexico, comparable in its reach and impact to "an epidemic", the Times reports. In his first speech direct from the White House ?
Read moreUPDATE: BP: Making Progress On Long-Term Oil Spill Solution
14th Jun 2010 01:35
(Updates with news about contracted production platform, latest oil-recovery figures and additional background information.) By Anna Raff Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC (BP, BP.LN) said Sunday it was taking steps to implement a more permanent arrangement to capture t
Read moreBP Says Makes Progress On Long-Term Oil Spill Solution
13th Jun 2010 17:02
NEW YORK (Dow Jones)--BP PLC (BP, BP.LN) said Sunday it was taking steps to implement a more permanent arrangement to capture the oil spewing into the Gulf of Mexico, as U.S. officials continued to demand more compensation for the spill. Equipment had been installed and put in place over the wee
Read moreUPDATE: Alabama Gov Calls For Compensation Over Oil Spill
13th Jun 2010 16:06
(Adds call for fund to pay damages; comments; details) WASHINGTON (Dow Jones)--The Coast Guard admiral overseeing the government response to the BP Plc (BP, BP.LN) oil spill said officials will discuss setting up an organization to administer a fund to pay for damages. Coast Guard Adm. Thad
Read moreObama To Address Nation After Visit To Oil-Hit Gulf -Aide
13th Jun 2010 15:21
WASHINGTON (AFP)--U.S. President Barack Obama will address the nation after he returns from a trip Monday and Tuesday to the Gulf of Mexico region stricken by the U.S.'s worst oil spill, an aide said Sunday. (END) Dow Jones Newswires June 13, 2010 10:21 ET (14:21 GMT)
Read moreAlabama Governor Calls For Compensation Over Oil Spill
13th Jun 2010 15:05
WASHINGTON (Dow Jones)--Alabama Gov. Bob Riley said his state will need "some level of compensation" for the damage caused by the Gulf of Mexico oil spill. Riley appeared Sunday on the CNN talk show "State of the Union" to discuss the BP spill. "We're going to have to have some level of comp
Read moreObama Urged To Fine BP $100B In Damages - Report
13th Jun 2010 14:14
LONDON (Dow Jones)--Senior U.S. politicians are urging U.S. President Barack Obama to seek $100 billion in damages against BP PLC (BP) for the Gulf of Mexico oil spill, a prospect which would almost certainly bankrupt the company, the Independent newspaper reported on Sunday. Without citing sour
Read moreSunday newspaper round-up: BP, George Osborne, Resolution
13th Jun 2010 10:49
BP is considering putting several billion dollars into a ring-fenced clean-up fund to appease American concerns over the soaring cost of the Gulf of Mexico oil spill. The fund is one of several options to be put to the company's board tomorrow ahead of a meeting on Wednesday between Barack Obama a
Read moreObama Walks Oil-Spill Tightrope, Political Fallout Looms
13th Jun 2010 02:46
WASHINGTON (AFP)--President Barack Obama has been forced to adapt his agenda to the endless challenge of the Gulf of Mexico oil spill, which threatens to sully him politically as experts struggle round-the-clock to find a fix. Next week, Obama had scheduled visits to Indonesia and Australia to f
Read more3rd UPDATE: US Gives BP 48 Hours To Devise Better Spill Plan
12th Jun 2010 23:15
(Adds new BP response to U.S. call for more action, in fourth paragraph.) By Andrew Morse Of DOW JONES NEWSWIRES The U.S. has given BP PLC (BP) two days to devise a more aggressive plan for containing oil leaking from its damaged deepwater well into the Gulf of Mexico, ratcheting up pres
Read moreBP: Grateful For 'Constructive' Obama-Cameron Conversation
12th Jun 2010 21:27
LONDON (AFP) -- British oil giant BP Plc (BP, BP.LN) said it appreciated the "constructive engagement" Saturday between London and Washington over the fall-out from the Gulf of Mexico oil spill. US President Barack Obama told British Prime Minister David Cameron in a phone call that his sharp cr
Read more2nd UPDATE: US Gives BP 48 Hours To Devise Better Spill Plan
12th Jun 2010 18:47
(Adds day of the U.S. letter, response from BP, background on BP's original plan, details of Obama-Cameron phone call.) By Andrew Morse Of DOW JONES NEWSWIRES The U.S. has given BP PLC (BP) two days to devise a more aggressive plan for containing oil leaking from its damaged deepwater we
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