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Share Price Information for BP (BP.)

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Share Price: 482.55
Bid: 482.60
Ask: 482.70
Change: 0.85 (0.18%)
Spread: 0.10 (0.021%)
Open: 479.85
High: 486.50
Low: 479.05
Prev. Close: 481.70
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Sunday newspaper round-up: RBS, Scottish independence, Prudential

Sun, 14th Sep 2014 13:04

Royal Bank of Scotland could have a pension funding gap of up to 5.6bn pounds if Scotland votes to leave the UK, the Sunday Times reported.Other companies such as Lloyds Banking Group and BP would also be affected by a hole of about £100bn in UK corporate retirement plans, according to Credit Suisse. Some companies would be forced to break up their pension schemes or raise cash from shareholders. Pension schemes with members in both Scotland and the rest of the UK would be deemed "cross border" after a vote for independence. EU rules say these schemes must be fully funded.Alistair Darling, the leader of the campaign against Scottish independence, has effectively declared victory four days before the referendum on September 18th, the Observer reported. He said his campaign's polling showed beyond doubt that Scotland would stay in the UK. A poll for the paper showed 53% of those certain to vote would do so for staying in the UK against 47% favouring independence. Polls in the previous day ranged from an eight-point lead for independence to an eight-point lead for the union, the Observer said.Most FTSE 100 chairmen believe a vote for Scottish independence would damage the UK economy, a poll for the Sunday Telegraph showed. The poll found 80% thought a yes vote would have a "significant negative effect" on the UK while 67% said independence would harm Britain's top companies. The Centre for Policy Studies predicted independence would wipe £13.8bn off government revenues in Scotland next year. The paper also said Hewlett Packard warned Britain's tax and benefit infrastructure would need a massive overhaul if Scotland votes yes.Prudential is set to cash in on the sale of Associated British Ports (ABP), the Sunday Times said. Prudential's infrastructure arm owns 10% of the ports operator, which is expected to sell for more than £4bn. Goldman Sachs owns 23% of ABP.Diageo faces a shareholder rebellion over pay at the international drinks giant, the Sunday Times reported. Corporate governance groups and shareholders have said bosses' pay is excessive compared with their base salaries. Pirc, the shareholder adviser, has given the pay policy a "red top" rating before Diageo's annual meeting on September 18th. Diageo said its pay levels were "appropriately positioned".The British Bankers' Association has said mortgage borrowers could be frozen out of the market by new rules forcing banks to hold billions of pounds of extra capital against home loans, the Sunday Telegraph said. Lenders could be forced to increase mortgage costs under Bank of England proposals for a leverage ratio to regulate bank capital.The founder of Phones 4U has attacked Vodafone for its decision to cut ties with the retailer in favour of Dixons Carphone, the Sunday Telegraph reported. John Caudwell said Vodafone's move, which threatens 6,000 high street jobs, was "ruthless" and called for a public boycott of the mobile phone operator. "If the public actually felt strongly enough they know what they could do, they could vote with their feet and move their business to other networks," Caudwell said.Farrow & Ball, the upmarket paint company, is considering a flotation after its private equity owners put it on the block, the Sunday Times said. European Capital, which has hired Rothschild to review the business, paid £100m for the company eight years ago and it could now be valued at about £250m.Towerbrook, the US private equity house, is going ahead with a sale of Phase Eight that could value the women's fashion retailer at £300m, the Sunday Telegraph said. Towerbrook has hired Rothschild to advise on an auction later this year. The paper also said Survitec, the defence equipment company, could also be put up for sale by its private equity owner Warburg Pincus with other buyout firms in the running to acquire it.
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(Alliance News) - Blue-chip stock prices in Europe closed higher on Tuesday, showing little signs of nerves ahead of Wednesday's Federal Reserve decision and UK inflation reading.

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19 Mar 2024 11:52

LONDON MARKET MIDDAY: European markets flat ahead of Fed and BoE

(Alliance News) - Stock prices in London were down at midday on Tuesday, as investors sat on their hands ahead of interest rate decisions from the UK and US.

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18 Mar 2024 11:49

LONDON MARKET MIDDAY: FTSE 100 as shakes off pre-interest rate nerves

(Alliance News) - Stock prices in London were higher at midday Monday, as eyes were firmly on interest rate decisions across the globe.

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15 Mar 2024 13:07

IN BRIEF: Costain wins place on GBP4 billion carbon capture project

Costain Group PLC - Maidenhead, Berkshire-based construction and engineering firm - Selected as one of nine specialist partners to deliver a carbon capture project beneath the North Sea off the east cost of England. The engineering, procurement, and construction contracts for the East Coast Cluster have a combined value of around GBP4 billion, Costain says. The contracts will be with Net Zero Teesside Power and the Northern Endurance Partnership. NZT Power is a electricity generating joint venture of the UK's BP PLC and Norway's Equinor. NEP is a joint venture of BP, Equinor and France's TotalEnergies SE that will provide CO2 transport and storage for the East Coast Cluster. Final investment decisions are expected in September or earlier, with the projects aiming for commercial operations from 2027.

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15 Mar 2024 12:11

LONDON MARKET MIDDAY: FTSE 100 underperforms despite mining, oil boost

(Alliance News) - London's FTSE 100 overcame a muted morning to head into Friday afternoon on the up, though its progress was shy of the loftier gains seen by mainland European peers, as investors showed some signs of trepidation ahead of a pair of interest rate decisions next week.

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14 Mar 2024 11:54

BP details green credentials in similar push towards net zero as Shell

(Alliance News) - BP PLC on Thursday outlined similar targets to cut emissions as peer Shell PLC, as both oil and gas majors strive to become net zero for carbon emissions by 2050.

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14 Mar 2024 10:19

BP picks up Ashford site to boost electric charging scope for trucks

(Alliance News) - BP PLC on Thursday stepped up plans to increase its electric charging capacity for heavy goods vehicles by buying one of the largest truck stops in Europe.

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8 Mar 2024 13:42

BP appoints Aviva boss Amanda Blanc as senior independent director

(Sharecast News) - Oil giant BP said on Friday that it has appointed Aviva chief executive Amanda Blanc as senior independent director with effect from after the annual meeting on 25 April.

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8 Mar 2024 12:20

IN BRIEF: BP promotes Aviva chief executive officer to senior director

BP PLC - London-based oil major - Non-Executive Director Amanda Blanc will be appointed as a senior independent director, effective from April 25 at the conclusion of BP's annual general meeting. Blanc joined BP's board in September 2022. She has been group chief executive officer of Aviva PLC since July 2020. Company also says Senior Independent Director Paula Reynolds will retire at the AGM's conclusion, having served on the board for nine years. Non-Executive Director John Sawers will also be retiring.

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8 Mar 2024 10:33

BP pays Auchincloss £8m in 2023, claws back £1.8m from Looney

(Sharecast News) - BP chief executive officer Martin Auchincloss was paid £8m for his services in a particularly prosperous year, it was revealed on Friday, as it managed to claw back a further £1.8m from its former head Bernard Looney.

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4 Mar 2024 15:29

London close: Stocks languish ahead of Wednesday's Budget

(Sharecast News) - London's stock markets finished in the red on Monday, reflecting investor apprehension ahead of the impending Spring Budget.

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4 Mar 2024 10:43

Jefferies upgrades BP to 'buy'

(Sharecast News) - Jefferies upgraded BP on Monday to 'buy' from 'hold' and lifted the price target to 570p from 520p.

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4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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4 Mar 2024 08:55

LONDON MARKET OPEN: Review cuts Hipgnosis Songs Fund valuation

(Alliance News) - Stock prices in London opened mostly lower on Monday, as investor attention remained primarily on the release of the UK Spring budget on Wednesday.

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4 Mar 2024 07:41

LONDON BRIEFING: Stocks called down; attention on UK's spring budget

(Alliance News) - Stocks in London are called to open lower, ahead of a busy week of economic news.

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