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Oil titan BP has appointed long-running company employee Lamar McKay as the new head of its Upstream division, which is thought to ease the pressure on current frontman Bob Dudley. Dudley, who is the Chief Executive Officer of BP, said: "During the past two years, we have successfully introduced a
Read moreUtilities stocks were among the worst performers of the day on Friday as companies reacted to Tuesday's Ofwat statement in which it clarified some licence modification proposals following requests for more information from shareholders. The general consensus is that water suppliers do not agree wi
Read more- Obama confident that 'fiscal cliff' will be dealt with - Markets await Eurogroup meeting on Greece - Egypt PM says Israel/Gaza truce may be near -Reuters - Banks and miners surge on increased risk Stocks rallied on Monday after hitting a four-month low the previous session on the back of increas
Read moreFrank Bowman, a Non-Executive Director of oil giant BP, purchased 3,600 shares in the company at 420.73p each last week. The £15,146 transaction came just one day after BP announced that it had resolved all criminal claims with the US Department of Justice in relation to the Gulf of Mexico oil spi
Read moreStocks advanced on Monday morning as optimistic comments by US lawmakers over the weekend regarding the budget lifted hopes that the government will come to an agreement to avert the impending 'fiscal cliff' by the January 1st deadline. "Today has very little in terms of economic data to be announc
Read moreEquity markets rose sharply on Monday morning as hopes about US lawmakers nearing a resolution to the 'fiscal cliff' sparked investors' appetites for riskers assets, such as mining stocks. Markus Huber, the head of German HNW trading at ETX Capital said this morning: "After Friday's heavy sell-off
Read moreThe UK government is eyeing possible plans to turn 316 branches owned by Royal Bank of Scotland into a state-backed business lender. The move is seen as an option if no buyer can be found for the estate, which RBS is being forced to sell in return for receiving state aid during the financial crisis
Read morePresident Obama has increased the pressure on Israel and Hamas to agree a truce before a ground war breaks out in Gaza and pushes any prospect of peace "way off in the future". Talks brokered by Egypt were continuing through the fifth day of violence, and Palestinian sources have claimed that a deal
Read more- Footsie near levels not seen since end of July - 'Fiscal cliff' and Greek uncertainty clouds the markets - Melrose drops 13 per cent After a fairly subdued start, UK stocks had sunk firmly into negative territory for the third straight day, owing to some heavy falls from Melrose, the banks and re
Read moreNomura has maintained its 'neutral' rating and 455p target price for oil giant BP following Thursday's 4.5bn-pound settlement with US regulators. The broker said that in order to become more positive on BP, it would need to see a greater evidence of an "operational and financial turnaround". "An u
Read moreNomura has maintained its 'neutral' rating and 455p target price for oil giant BP following Thursday's settlement with US regulators. Shares were broadly unchanged following the news that it has resolved all criminal claims with the Department of Justice in relation to the Gulf of Mexico oil spill
Read moreThe UK benchmark index opened flat on Friday morning as investors turn to the US where President Barack Obama is to hold budget talks in Congress to discuss the impending 'fiscal cliff'. The Footsie finished yesterday's session at 5,678, its lowest closing value since September 5th when it finished
Read moreThe US Government yesterday warned BP that its troubles were far from over as it levied a record fine of $4.5 billion on the company for criminal failures arising from the Deepwater Horizon oil disaster. BP pleaded guilty to 14 criminal charges ? including manslaughter, environmental violations and
Read more- FTSE 100 at lowest level since early September - US, Eurozone and UK data disappoints - BP reaches settlement with US DoJ Political uncertainty and disappointing economic figures the world over weighed heavily on UK stock markets today, pushing the FTSE 100 close to its lowest levels since early
Read moreIntegrated oil giant BP has confirmed it is close to a deal with the US Department of Justice (DoJ) and the Securities & Exchange Commission over the Macondo oil well tragedy in the Gulf of Mexico. Media reports suggest that BP has agreed to plead guilty to obstruction for lying to Congress about h
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