BP Managing Director joins board of BT Group
10th Mar 2014 13:19
BP's Managing Director Iain Conn has joined the board of BT Group as a Non-Executive Director with effect from June 1st. Conn has been with BP since 1986, during which time he served as Chief Executive for three years before taking up his current role in 2007. He will step down from the board of
Read moreSunday newspaper round-up: WM Morrison, BP, Barclays
9th Mar 2014 10:14
WM Morrison is preparing to announce aggressive price cuts and 500m pounds of property sales this week, the Sunday Times reported. The price cuts aim to take on Aldi and Lidl, the German chains whose prices have lured MM Morrison customers. The £500m of property sales out of a total portfolio of £10
Read moreFriday newspaper round-up: Forex, Crimea, Barclays
7th Mar 2014 06:58
Robert de Groot, the head of foreign exchange trading at BNP Paribas, was suspended on Thursday. De Groot joined the Bank of England´s chief dealers´ group - a panel on which senior forex traders and Bank officials sit - in 2007. Said committee was thrust into the spotlight this week after Bank re
Read moreWednesday newspaper round-up: BP, Virgin Money, Bank bonuses
5th Mar 2014 06:59
Due to the volatility of American oil and gas prices shale producers need to be quick and nimble, adjusting their production higher or lower as a function of their commodity price forecasts. Unfortunately, such agility clashes with the predominant business model of the oil majors. Hence, BP has deci
Read moreFTSE 100 movers: Fresnillo hit by profit drop, Ashtead soars
4th Mar 2014 14:32
The picture on the FTSE was almost the reverse image of yesterday, with Fresnillo and Randgold Resources firmly lower as they tracked metal prices back into the red after rising strongly on Monday, when a reduction in risk appetite pushed investors towards safe-haven assets. Fresnillo in particular
Read moreBP announces disagreement with court decision denying injunction
4th Mar 2014 09:42
BP has released a statement announcing its disagreement with the decision by the US Court of Appeals for the Fifth Circuit denying the company's request for a permanent injunction to prevent certain payments under the Economic and Property Damages Settlement reached in 2012. The oil giant had aske
Read moreLondon open: Stocks bounce but Ukraine crisis still in focus
4th Mar 2014 08:31
- Markets recover after sell-off - Putin orders troops back to bases - Ashtead, Glencore Xstrata impress with results - Fresnillo disappoints as profits slump techMARK 2,891.69 +1.38% FTSE 100 6,775.50 +1.00% FTSE 250 16,559.83 +1.13% UK stocks bounced strongly on Tuesday morning as sentiment reco
Read moreTuesday newspaper round-up: BP, RBS, ECB
4th Mar 2014 06:54
The fifth appeals court of New Orleans ruled on Monday that BP will have to restart what the company terms "absurd" payouts to people and firms who were not even negatively impacted by the 2010 Gulf of Mexico oil spill. BP had argued that a compensation committee had misinterpreted the original agre
Read moreMonday newspaper round-up: BP, G4S, RSA
24th Feb 2014 06:48
The future of BP's flagship Rumaila oilfield in southern Iraq is in jeopardy after a bureaucratic snarl-up in Baghdad forced the company to axe a hundred crucial contractor jobs. The move highlights the mounting challenges facing western oil majors in Iraq, and bodes ill for the country's ambitious
Read moreSunday newspaper round-up: RSA, RBS, BSkyB
23rd Feb 2014 14:15
Stephen Hester, the new Chief Executive of RSA Insurance, is preparing an 800m pounds rights issue to strengthen the company's balance sheet, the Sunday Times said. Hester, who joined RSA three weeks ago, is expected to announce the capital raising with annual results on February 27th. The fundraisi
Read morePetrofac wins 1.2bn dollar BP Oman gas facility project
20th Feb 2014 07:51
Petrofac said it has won a 1.2bn pound contract from BP to build a gas processing facility in Oman. This contract has been awarded on a convertible lump sum basis and will convert to a full lump sum contract at a pre-determined point during execution, the oil and gas services firm said. The wor
Read moreUK stocks hold gains despite complex new forward guidance from BoE
12th Feb 2014 12:02
- Carney revamps forward guidance - BoE focusing on 'spare capacity' in economy - Bank Rate to rise only gradually when tightening is needed - Morrisons in buyout talks with private-equity firms techMARK 2,824.49 -0.42% FTSE 100 6,683.78 +0.17% FTSE 250 16,060.03 -0.11% UK stocks held on to small
Read moreLondon close: Strategists surprised by recent losses in markets
7th Feb 2014 17:08
- Mixed US employment data - Barclays: Fed could refrain from tapering in March - Persimmon and LSE shares power ahead - NIESR: MPC will not raise rates until quarter two of 2015 techMARK 2,790.30 +0.40% FTSE 100 6,571.68 +0.20% FTSE 250 15,865.12 +0.48% The FTSE 100 managed to end the day in the
Read moreLondon midday: Stocks flat as investors await US data with caution
7th Feb 2014 11:41
- Markets flat ahead of US jobs report - Stocks pause after ECB-inspired rally on Thursday - Data disappoints from China, UK, Germany techMARK 2,788.33 +0.33% FTSE 100 6,564.10 +0.09% FTSE 250 15,837.69 +0.30% The FTSE 100 was more or less flat by midday on Friday after trading within a narrow ran
Read moreLondon close: Stocks erase losses but still end lower
4th Feb 2014 16:31
- Earnings from ARM, BP, BG Group coming in mixed - FTSE 100 erases losses but still ends lower - Markets consolidate before risk events, says analysts techMARK 2,746.10 -0.75% FTSE 100 6,449.27 -0.25% FTSE 250 15,540.28 -0.12% The FTSE 100 erased earlier losses, but still finished lower on Tuesda
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