BP Share News (BP.)

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 plans to revive an oil industry still recovering from years of war and sanctions. Some oil majors are so disenchanted with the difficulties of doing business in Iraq that they are considering leaving the country for good. - Financial TimesFresh allegations have emerged about accounting irregularities at G4S, the outsourcer facing a criminal investigation for allegedly overcharging the UK government. A whistleblower named Malcolm Batki has claimed in court proceedings obtained by the Financial Times that G4S made an internal charge of as much as £4m to a key unit to conceal how profitable it was, while that unit was negotiating contracts with the Ministry of Justice. - Financial TimesLast year UK companies took three places amongst the top ten dividend payers worldwide, with Shell in pole position. Energy major Royal Dutch Shell paid the highest returns to shareholders in 2013, in a year when global dividends broke through the $1trn barrier for the first time. Henderson says the average annual dividend growth of 9.4% over the last five years is due to "breakneck" growth in emerging markets, which last year made up $1 in every $7 of global payouts, led by the BRIC economies of Brazil, Russia, India and China. - The Daily TelegraphDavid Cameron will use his first ever cabinet meeting in Scotland to promise a revolution in North Sea oil and gas extraction worth up to £200bn over two decades - but that this will only be affordable if the union stays together. As the PM and his entourage make the trip to Aberdeen, he will set out steps to revive the industry, which has suffered declining production for years. His visit to Scotland comes as two new polls found a growing number likely to vote no to independence, with 37% for and 47-49% against. - The GuardianEmbattled insurer RSA confirmed on Sunday that it was considering asking shareholders for cash to repair its finances, which have been battered by accounting irregularities in its Irish division and stormy weather. The fundraising, which could amount to £800m, is part of the rescue strategy being devised by Stephen Hester, the former boss of Royal Bank of Scotland appointed to the insurer three weeks ago. - The GuardianFinance ministers from the 20 largest economies have agreed to embrace an "ambitious" goal of boosting the world's GDP by more than $2trn (£1.2trn) over the coming five years. Progress on returning economic growth to pre-crisis levels has been hampered by austerity measures across Europe and a slowdown in China, but the G20 finance leaders said they were encouraged by signs of improvement in Japan, the UK and US "and the resumption of growth in the euro area". - The ScotsmanAB