BP loses bid to stop paying Gulf of Mexico compensation
10th Jun 2014 10:50
BP has lost its bid with the US Supreme Court to stop paying compensation claims while it awaits a review of its settlement in relation to the 2010 Gulf of Mexico oil spill. The company said it would continue to seek a review of the court's overall ruling on compensation. "The lifting of the injun
Read moreTuesday newspaper round-up: Sports Direct, Tesco, BP
10th Jun 2014 07:28
The board of Sports Direct has reignited a row with its minority investors over executive rewards by creating a £200m bonus fund that conceals a likely payout for Mike Ashley, its billionaire founder. Shareholders reacted with indignation as the sportswear chain came up with its third plan in two ye
Read moreLloyds withdraws from Rosneft-BP deal
3rd Jun 2014 22:40
Lloyds Banking Group has reportedly withdrawn from a $1.5-$2bn trade finance deal involving Russian oil company Rosneft. The part-government owned lender, as well as Deutsche Bank, HSBC and Bank of China, was a mandated lead arranger on the loan to finance BP's purchase of crude oil and refined pro
Read moreWood Group wins contract for BP's Shah Deniz project
3rd Jun 2014 07:53
Wood Group's offshore engineering, subsea and pipeline division, Wood Group Kenny (WGK), has won a £36m contract with BP in Azerbaijan. The contract covers engineering and project management services for stage two of BP's part-owned Shah Deniz subsea gas project, located in the South Caspian Sea.
Read moreThursday newspaper round-up: Google, Ukraine, Insurers
22nd May 2014 07:29
Google is amassing an overseas war chest to help it to make foreign purchases worth up to 30bn dollars. Or, at least, that is what it has told regulators. In a filing to the Securities and Exchange Commission, the internet giant defended its decision to hoard so much cash overseas, out of the reach
Read moreWednesday newspaper round-up: Bank of England, Lloyds, AstraZeneca
21st May 2014 06:38
Raising interest rates might be the only effective tool the Bank of England has to cool the housing market, its deputy governor has conceded. Charlie Bean, who retires at the end of June, said that while it was sensible for the Bank to use macro-prudential tools to control rapid price rises and mana
Read moreLondon midday: Stocks slip on mixed earnings, Ukraine tensions
7th May 2014 11:57
- Markets give mixed reaction to corporate earnings - Ukraine tensions continue to rise - Investors nervous ahead of Yellen speech techMARK 2,783.30 -0.31% FTSE 100 6,773.54 -0.37% FTSE 250 15,890.46 -0.30% A flurry of mixed corporate earnings pushed UK markets lower on Wednesday morning, while in
Read moreLondon open: Ukraine concerns dampen stocks early on
7th May 2014 09:25
- L&G, G4S, Sainsbury and ITV lead risers - WM Morrison, ex-div stock provide a drag - Ukraine tensions continue to rise - Markets nervous ahead of Yellen speech techMARK 2,784.08 -0.29% FTSE 100 6,774.00 -0.36% FTSE 250 15,870.07 -0.43% Ongoing tensions in Ukraine and a host of mixed corporate ea
Read moreLondon open: Ukraine concerns dampen markets early on
7th May 2014 08:24
- L&G, G4S, Sainsbury and ITV lead risers - WM Morrison, ex-div stock provide a drag - Ukraine tensions continue to rise - Markets nervous ahead of Yellen speech techMARK 2,785.10 -0.25% FTSE 100 6,779.09 -0.29% FTSE 250 15,870.62 -0.43% Ongoing tensions in Ukraine and a host of mixed corporate ea
Read moreSector movers: Basic resource stocks rise after strong US jobs report
2nd May 2014 15:26
Basic resource stocks, such as those in the mining, oil and gas sectors, rose on Friday, with sentiment boosted by a much better-than-expected US employment report, as an improved outlook for the world's largest economy increased hopes over demand. The Bureau of Labor Statistics reported that the U
Read moreFriday newspaper round-up: House prices, BP, Marks&Spencer
2nd May 2014 06:56
Surging house prices pose the single biggest threat to UK financial stability, the deputy Governor of the Bank of England has warned. Jon Cunliffe said that policy-makers must decide quickly whether to take action to cool the market and, in the starkest warning yet that rapid price rises could derai
Read moreSector movers: Oil stocks rise as BP impresses with update
29th Apr 2014 15:50
Oil and gas producers were flowing higher on Tuesday after a well-received first-quarter update from sector heavyweight BP. BP, the largest UK-listed stock in the sector with market capitalisation of £90bn, was trading at its highest level in two months after profits fell less than expected in the
Read moreBroker tips: BP, AstraZeneca, Serco, Telecity
29th Apr 2014 12:48
Investec kept a 'hold' stance on oil major BP, but said that the company's first-quarter trading update showed a 'solid start to the year'. "We do not expect any major changes to either our forecasts or consensus. BP is trading broadly in line with the sector which, given current Russian risk, look
Read moreBP makes solid start to the year, says Investec
29th Apr 2014 12:13
Investec kept a 'hold' stance on oil major BP, but said that the company's first-quarter trading update showed a 'solid start to the year'. The broker said that results from BP were broadly in line with forecasts, "with a strong oil and gas trading performance offsetting a weaker rouble and a $0.5b
Read moreBP first-quarter profits fall but cash flow swells - UPDATE
29th Apr 2014 07:10
- Q1 production down 8.5 per cent - Q1 underlying profit down 23 per cent YOY - Profit up 14.3 per cent on Q4 2013 - Dividend of 9.75 cents, up 8.3 per cent - Q2 production to be lower due to maintenance Profits for the first quarter at BP fell 23 per cent year-on-year, slightly ahead of consensus
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