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Share Price Information for BP (BP.)

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Share Price: 470.25
Bid: 470.20
Ask: 470.30
Change: -0.25 (-0.05%)
Spread: 0.10 (0.021%)
Open: 468.40
High: 472.45
Low: 467.30
Prev. Close: 470.50
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Monday newspaper round-up: Italy, China manufacturing, Help to Buy

Mon, 30th Sep 2013 07:25

Enrico Letta, Italy's centre-left Prime Minister, is seeking urgently parliamentary support for a new government after centre-right leader Silvio Berlusconi pulled his ministers out of their five-month-old coalition, risking a financial market backlash. Mr Letta held crisis talks on Sunday night with Giorgio Napolitano, head of state, who earlier said he would explore all alternatives before using his constitutional powers to dissolve parliament and call new elections. Mr Letta is expected to address parliament early this week, according to the FT. China's manufacturing growth this month was much weaker than initial estimates, according to an industrial survey that raises concerns about the durability of the economy's rebound. The purchasing managers' index published by HSBC edged up to 50.2 in September from 50.1 in August. While that points to mild expansion for the vast Chinese manufacturing sector, it is well below the preliminary survey result of 51.2 that had been announced just last week, the FT writes. Banks accounting for about a third of the mortgage market will start offering taxpayer-subsidised mortgages in just over a week after the Government brought forward the launch date of its controversial Help to Buy scheme by three months. On the eve of the Conservative party conference in Manchester, David Cameron said that the state-backed lenders, Royal Bank of Scotland and Lloyds Banking Group, have signed up to the scheme and the launch date has been brought forward from January. Help-to-Buy will initially be available under the NatWest, RBS and Halifax brands but a Tory spokesman said that other banks are expected to take part over time, The Daily Telegraph reports.The end of the investment drought could be in sight after a survey of top company executives revealed that they are prioritising expansion over cost-cutting for the first time in more than two years. Deloitte asked 116 chief financial officers ? from FTSE 100 executives to the bosses of British divisions of big foreign-listed entities ? what priorities would affect their plans for the UK and Europe in the next year. Those answering "expansionary strategies" outnumbered others answering defensive strategies by 54%, The Times says.All of Britain's "Big Four" accountancy firms plan to expand in the coming months to cope with a resurgence of demand for business advice. Between them, the group of four want to hire more than 13,000 people by the summer next year. PwC, Britain's biggest accountant, said that it expected to hire at least 4,000 people by the end of June, split evenly between experienced professionals, graduates and school leavers, The Times reports. BP is to face the second round of its legal trial over the Gulf of Mexico oil spill this week which could leave it with an $18bn (£12bn) fine as it fights claims that it could have capped the biggest offshore spill in US history earlier. The figure is more than five times the $3.5bn BP has put aside to settle the case which has been hanging over the company since 2010 when the explosion of the Deepwater Horizon oil platform triggered the biggest marine disaster in US history, according to The Daily Telegraph. Royal Bank of Scotland should split off its US-based Citizens arm, as well as the loss-making Ulster Bank division, to create a new bank that could be privatised more easily, according to analysts at UBS. However, the bank's house broker said the state-backed lender - which last week sealed a deal to spin off more than 300 branches to a consortium supported by the Church of England - should not be carved up into a "good" and "bad" bank, arguing that the benefits would be outweighed by the efforts involved, The Scotsman says. AB
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20 Jun 2024 17:38

BP to buy out Bunge's stake in Brazilian biofuels JV in $1.4 bln deal

LONDON, June 20 (Reuters) - BP has agreed to buy grain trader Bunge's 50% stake in Brazilian sugar and ethanol joint venture BP Bunge Bioenergia for $1.4 billion in a bet on growing demand for low-carbon biofuels.

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20 Jun 2024 16:48

Carlyle creates new Med oil and gas company with $945 mln Energean deal

LONDON, June 20 (Reuters) - Carlyle will form a new Mediterranean-focused oil and gas company led by former BP CEO Tony Hayward after the private equity fund agreed to acquire Energean's assets in Egypt, Italy and Croatia for up to $945 million, the companies said on Thursday.

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15 Jun 2024 00:04

Crew evacuated from Greek-owned vessel hit by Houthis

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13 Jun 2024 16:22

Ukraine agrees on first LNG supply deal with US company Venture Global

June 13 (Reuters) - Ukraine signed on Thursday its first liquefied natural gas (LNG) deal with a U.S. company to help to avert an energy supply crunch amid a war with its bigger neighbour Russia.

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11 Jun 2024 16:00

Woodside's Sangomar project produces first oil in Senegal

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11 Jun 2024 13:31

OPEC keeps global oil demand forecasts unchanged

(Sharecast News) - The Organisation of the Petroleum Exporting Countries kept its short-term global oil demand forecasts unchanged.

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10 Jun 2024 23:46

Sector movers: Oil majors catch a bid after nearly a month of share price declines

(Sharecast News) - Oil & Gas shares caught a bid on Monday, tracking a rebound in oil prices after about two month's of losses, despite strength in the Greenback.

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10 Jun 2024 22:44

California seeks company profits in Big Oil climate lawsuit

June 10 (Reuters) - California's attorney general on Monday sought to force the world's biggest oil companies to give up profits the state alleges they made while deceiving consumers about their role in contributing to climate change.

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California seeks company profits in Big Oil climate lawsuit

June 10 (Reuters) - California's attorney general on Monday sought to force the world's biggest oil companies to give up profits the state alleges they made while deceiving consumers about their role in contributing to climate change.

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Supreme Court seeks US government views on Honolulu climate suit against oil companies

WASHINGTON, June 10 (Reuters) - The U.S. Supreme Court on Monday asked President Joe Biden's administration to offer its views on a bid by Sunoco and other oil companies to scuttle a lawsuit by Honolulu accusing them of deceiving the public about climate change.

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4 Jun 2024 17:16

European shares snap three-day winning streak on commodities' drag

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(Sharecast News) - Commodity related stocks were the chief drag on the FTSE 350 amid a combination of growth concerns and risk aversion.

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London stocks log declines as losses in miners weigh

FTSE 100 down 0.4%, FTSE 250 falls 0.9%

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4 Jun 2024 16:53

LONDON MARKET CLOSE: Cooling US job market boosts rate cut hopes

(Alliance News) - Stock prices in London closed lower on Tuesday, with New York tracking down, amid some disappointing economic data from the US.

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