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London has shrugged off an early dip and is now making progress again following on Wall Street's rise last night on the back of good US company earnings. Banks are likely to be a focus for most of the day as the results of the European stress tests are unveiled. There is some confusion over exactly
Read moreNEW ORLEANS (AFP)--Crews working on a huge oil spill evacuated Friday as a tropical storm barreled toward the Gulf of Mexico, prolonging the region's environmental and economic nightmare. The cap in place for a week on the ruptured well will remain in place, but efforts to complete the relief we
Read moreA modestly firmer start is expected in London with traders predicting the FTSE 100 index will open around 7 points higher. Mobile phone network operator Vodafone returned to organic revenue growth in the April to June quarter of 2010 for the first time since the near global recession. Group revenue
Read moreLONDON (Dow Jones)--Oil major BP PLC (BP) said Friday that with the guidance and approval of the National Incident Commander and the leadership and direction of federal government, relief well activities at the MC252 well site will be temporarily suspended because of potentially adverse weather asso
Read moreBP has temporarily suspended relief well activities at the MC252 well site in the Gulf of Mexico due to "potentially adverse weather" linked to Tropical Storm Bonnie. The move at the well, which has been shut-in for integrity testing for the past seven days, is backed by Admiral Thad Allen, the ret
Read moreBritish Airways has issued legal proceedings against 24 rival airlines that it claims should share potential damages arising from a price-fixing lawsuit, The Times has learnt. BA has been sued by about 250 companies after it pleaded guilty in the United States to being part of a cartel that fixed t
Read moreLONDON (AFP)--The head of the American Association of Professors accused BP PLC (BP) Friday of trying to buy the silence of scientists and academics to protect itself after the Gulf oil spill, in a BBC interview. "This is really one huge corporation trying to buy faculty silence in a comprehensi
Read moreBy Susan Daker, Angel Gonzalez and David Winning Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--The U.S. government Thursday evening ordered the evacuation of a drilling rig working to intercept the damaged Macondo well in the Gulf of Mexico, a move the federal response commander said may dela
Read moreNEW ORLEANS (AFP)--The U.S. government's freeze on new deepwater oil drilling is halting nearly all exploration in the Gulf of Mexico, including shallow-water projects, local officials said. The Louisiana Department of Natural Resources said this week that approved shallow-water drilling permits
Read moreDOW JONES NEWSWIRES The U.S. government ordered the evacuation of vessels working on oil-spill recovery Thursday evening as Tropical Storm Bonnie approached the Gulf of Mexico, the federal response commander said. In a statement, Ret. Coast Guard Adm. Thad Allen said the rig drilling a well
Read moreWASHINGTON (AFP)--A U.S. Senate panel Thursday categorically denied having asked former U.K. Prime Minister Tony Blair to testify about whether BP PLC (BP) lobbied for the release of the Lockerbie bomber. "Tony Blair has not been invited to testify. Any such indication was made in error," Senate
Read moreDOW JONES NEWSWIRES A tropical depression that has been heading toward the site of the BP PLC (BP.LN, BP) oil spill in the Gulf of Mexico became Tropical Storm Bonnie on Thursday evening, the National Hurricane Center reports. The storm's maximum sustained winds were measured at 40 miles per ho
Read more(Updates with comments from BP executive) By Jason Womack and Susan Daker Of DOW JONES NEWSWIRES HOUSTON (Dow Jones)--BP PLC (BP, BP.LN) said Thursday that leaving the shut-in Deepwater Horizon oil well unattended is safe in the case responders have to evacuate for several days to escape
Read more(Updates with context and further details) By Taos Turner Of DOW JONES NEWSWIRES BUENOS AIRES (Dow Jones)--U.K. oil giant BP PLC (BP, BP.LN) has decided to sell its stake in Argentine unit Pan American Energy and is in talks with Argentina's Bridas Corp., a person familiar with the negot
Read moreBy Tennille Tracy Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--U.S. lawmakers are pressing Anadarko Petroleum Corp. (APC) and MOEX Offshore 2007 LLC to start paying some of the costs related to the Gulf of Mexico oil spill and to set aside money for future expenses. As minority invest
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