SYDNEY/ LONDON, Nov 30- BHP Billiton shares dropped more than 5 percent to a seven-year low on Monday after Brazil announced plans to sue the mining company and its partners for 20 billion reais over the bursting of a dam. The dam, holding back waste water from the Samarco mine in southeastern Brazil, burst on Nov. 5, polluting a major river valley and killing at least 13...» Read More
Watch how the dumb money invests so you can make smart decisions, says Gary Kaminsky of CNBC's "The Strategy Session."
With US/UK relations under strain because of the BP oil spill in the Gulf of Mexico, a group of Brits intends to try and give a helping hand.
It soon became clear that the “risk factors” section of the documents, in which BP would lay out the perceived risks to its bondholders, was too delicate an explanation to rush, says one of the people familiar with the matter, and the company realized it would likely need at least another week to finish the prospectus.
Red Lobster will soon take oysters off its menu, after its supplier was forced to shut down due to oil spill in the Gulf.
The oil spill in the Gulf of Mexico underscores why our nation needs to focus more on renewable and cleaner sources of energy said, NextEra Energy Chairman and CEO Lew Hay.
What if Deepwater Horizon was a nuclear plant?
With so much attention on Chinese stocks, something that gets very little attention: US-listed Chinese companies that went public through the back door. The back door, in this case..?
The threat of a trade war between the US and China is greatly reduced. The move should help combat Chinese inflation a little by making imports less expensive. The only major country the Chinese have a trade surplus with is the US. Exporters to China should still see better trade as the richer currency buys more.
Blackouts are one more possible problem related to the BP oil spill for the residents of the Gulf of Mexico region. If that happens, the power outages have the potential to impact homes and businesses from western Louisiana to eastern Florida.
White House shakedown? In a recent ten-year period, for example, oil companies lavished Congress with nearly $200 million in campaign contributions and reaped one hundred times that figure from the US Treasury in return
BP deserves acknowledgement for the claims it has made to date to the Gulf of Mexico region and its residents and its agreement last week with the government to pay out some $20 billion, Ken Feinberg, BP escrow account administrator, told CNBC Monday.
These energy-conscious companies have fared well this year and continue to attract portfolio mangers' interest.
While shares of BP have tumbled since the Gulf of Mexico oil spill, the shares of the company aren't much worse off than other major shares in London, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC Monday.
“Investors in BP should know that there’s now an alternative to the litigation system in place,” Kenneth Feinberg said in a telephone interview with CNBC Sunday afternoon. “I think that’s a really helpful sign if you’re an investor.”
All eyes in Washington, Wall Street and Main Street were turned on the Congressional show trial featuring beleaguered BP CEO Tony Hayward yesterday. Hayward was a disaster. He played dumb. He stonewalled. And he never got honest about BP's colossal failure of human judgment that caused this catastrophe. But folks, seriously, what did you expect?
BP executives met in London Friday with investment bankers to discuss a likely bond offering as early as Tuesday, according to a source familiar with the matter.
The public, both the American and those throughout the world, will demand greater regulation of the oil industry in light of the BP Gulf of Mexico spill, James Mulva, chairman and CEO of industry giant ConocoPhillips, told CNBC Friday.
One company's pain is often another's gain. And BP's woes have sent this stock to an all-time high.
The Obama administration's six-month moratorium on oil drilling could benefit BP, John Kingston, director of oil at Platts, a provider of energy information, told CNBC.
The correlation of S&P 500 members to daily move in the benchmark overall has been steadily rising toward parity over the last 10 years, a sign that exchange-traded funds, electronic trading and a short-term mentality is slowly killing individual stock picking based on fundamentals.