BP rises on TNK sale rumours
17th Oct 2012 16:25
BP rose on reports that the company and its Russian billionaire partners are in talks to sell their TNK- BP venture to OAO Rosneft. The billionaires, represented by the AAR group, are seeking to sell their 50% holding to Rosneft for $28 billion, according to Bloomberg. BP is also negotiating to se
Read moreWednesday newspaper round-up: Recession, Bumi, Greece
17th Oct 2012 06:54
Indonesia's market regulator is investigating the use of funds raised in an initial public offering of one of London-listed Bumi Plc 's key assets. Bapepam, the financial watchdog, has requested data and information over several months from Bumi Resources Minerals, which in late 2010 raised about $2
Read moreTuesday newspaper round-up: RBS, British economy, BP
16th Oct 2012 06:57
The Royal Bank of Scotland is considering suing Santander amid fears that its decision to ditch the deal buy 316 branches could cost the part-nationalised lender as much as 1 bn pounds. Lawyers and advisers at RBS are "looking at the legality" of Spanish bank's reversal after its shares fell and as
Read moreBP 'not under threat' of contract termination
15th Oct 2012 08:14
The Azerbaijan government has reportedly denied that there is any threat to BP's contract following remarks made by the head of state about disappointing production figures. Azerbaijan News Agency reported on Monday, October 15th that there was "no threat of termination of contracts with foreign oi
Read moreSunday newspaper round-up: BAE,BP, Prudential
14th Oct 2012 16:27
The Government demanded that the new chief executive of the defence division of a merged BAE-EADS aerospace giant should be British "in perpetuity", in a move that is believed to have increased tensions with Germany. Ian King, the chief executive of BAE Systems, revealed that the agreement was one o
Read moreFriday newspaper round-up: BAE, BoE, BP
12th Oct 2012 06:13
BAE Systems is examining a series of potential acquisitions to bolster its position in the United States in the wake of its failed merger with EADS. While British investors are demanding to see BAE's top brass on strategy, following the aborted 28bn pound merger, The Times has been told the defence
Read moreWednesday newspaper round-up: BP, Bank capital, Direct Line
10th Oct 2012 06:30
Angela Merkel, the German chancellor, has stamped her seal of approval on Greece's austerity plan and vowed to stand by the country as "partner and friend", signalling almost certain approval for the next tranche of EU-IMF Troika aid. The German leader - protected by 6,000 police - braved hostile cr
Read moreTuesday newspaper round-up: BAE, Reckitt Benckiser, IMF
9th Oct 2012 06:41
Investor opposition to the proposed tie-up between Europe's aerospace and defence champions is mounting, with more than 30 per cent of shareholders in BAE Systems expressing significant concerns about the deal with EADS. Ahead of a takeover deadline on Wednesday, some of the biggest investors in the
Read moreLondon close: Stocks dampened by global growth concerns
8th Oct 2012 16:32
- Miners fall on global growth concerns - Supermarkets perform well after broker comments - World Bank cuts Chinese growth forecasts Cyclical stocks suffered falls on Monday as growing uncertainty about the Eurozone and concerns over global growth dampened the mood. "Stocks traded lower today as i
Read moreBP to sell Texan refinery to Marathon Petroleum
8th Oct 2012 14:19
Oil titan BP is to offload its Texas refinery and associated assets to American peer Marathon Petroleum Corporation for a total of 2.5bn dollars, as it continues to reposition its business in the US. BP said on Monday afternoon that it has reached an agreement with Marathon for the sale, which incl
Read moreAAR to make bid for TNK-BP by October 17th
4th Oct 2012 14:11
AAR, which owns half of TNK-BP, a Russian oil company formed from a merger of BP's Russian assets with those of AAR, is planning to make a 'competitive' offer for BP's 50 per cent stake by October 17th, according to group director German Khan, who was quoted in the Kommersant, a Russian national dai
Read moreLondon open: Spanish bailout rumours weigh on stocks
2nd Oct 2012 08:40
Following a strong surge the day before, London's FTSE 100 slipped in early trading on Tuesday with concerns about a Spanish bailout weighing on sentiment early on. According to reports, Spain has finally decided to move ahead with its bailout request to the Eurozone, but Germany now wants Madrid t
Read moreBP ducks one set of claims
2nd Oct 2012 08:29
A US judge has decided integrated oil company BP won't face claims for damages over the 2010 Gulf of Mexico oil spill brought by recreational users, company-branded gas station owners and businesses alleging loss of reputation. US District Judge Carl Barbier removed these categories of claims from
Read moreSunday newspaper round-up: Xstrata, Spain, BAE
30th Sep 2012 16:22
The board of Xstrata is to recommend Glencore's revised $80bn (£49bn) merger offer in a move which will create a global commodities and mining powerhouse. The Telegraph understands that Xstrata's board, led by Chairman Sir John Bond, has this weekend agreed to the final points of its recommendation.
Read moreBP sells some Malaysian assets
28th Sep 2012 09:42
Integrated oil giant BP has agreed to sell all its interests in purified terephthalic acid (PTA) production in Malaysia to Reliance Global Holdings. Reliance has agreed to purchase BP's interest in BP Chemicals (Malaysia) Sdn Bhd (BPCM), located at Kuantan on the east coast of Malaysia, for $230m i
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