BP has acted to allay the fears about its financial strength that sent its shares tumbling to 14-year lows, telling investors it has $20bn (£13,3bn, €16.1bn) in cash and credit to pay for the Gulf of Mexico oil spill.However, the company’s share price sank below £3 on Friday, before closing 6.4 per cent lower at 304.6p.
HUNTSVILLE, Canada British Prime Minister David Cameron warned against the destruction of BP as its shares plummeted close to a 14-year low amid the battle against the Gulf of Mexico oil spill.The new British leader, who will hold his first bilateral talks Saturday with US President Barack Obama, said it was important for transparency over the British company's liability in the catastrophe. I
Prime Minister David Cameron warned against the destruction of BP as its shares plummeted close to a 14-year low amid the battle against the Gulf of Mexico oil spill.Cameron, who will hold his first bilateral talks Saturday with US President Barack Obama, said it was important for transparency over the British company's liability in the catastrophe. I think it is also in all our long-term inter
VENICE, La. The Gulf of Mexico oil spill entered its 67th day on Friday with BP's New York share price at year lows and bad weather looming that could hamper clean-up and containment efforts. The Obama administration was pursuing its legal options after a setback on Thursday when a judge refused to put on hold his decision lifting a ban on deepwater oil drilling imposed in response to the spill,
WASHINGTON – A judge refused on Thursday to put on hold his decision that blocked the Obama administration from enforcing its six-month ban on deepwater oil drilling after the Gulf of Mexico oil spill.U.S District Judge Martin Feldman in New Orleans rejected a request by the Obama administration to stay his decision that allowed deepwater drilling to resume after the Department of Interio
WASHINGTON – President Barack Obama replaced his top Afghan war commander on Wednesday, grappling with the latest in a series of challenges that include a disastrous oil spill and high unemployment.Here are some questions and answers about the problems confronting Obama ahead of meetings in Canada this week of the Group of Eight and Group of 20 nations.WHAT IS OBAMA'S MOST PRESSING PROBLEM
ALBANY, N.Y. New York Comptroller Thomas DiNapoli has hired outside lawyers in an effort to become the lead plaintiff in a federal class-action lawsuit by investors against BP over the Gulf of Mexico oil spill.DiNapoli, as trustee of the state's $133 billion public employee pension fund, claims the British oil giant misled investors about the safety of its operations. It's my duty to protect the
LONDON BP put Mississippi native Bob Dudley in charge of handling the Gulf of Mexico oil spill on Wednesday, an effort to clean up its image and take the spotlight off chief executive Tony Hayward, the Englishman whose gaffes have infuriated Americans.BP PLC confirmed that Dudley, who grew up in Hattiesburg, Miss., an easy drive from the coast, is now the point man in the mission to stop the oil