Oil giant Total reported that net profit fell 2 percent in the second quarter, as the company sped up its cost-cutting drive.» Read More
Europe ended in positive territory on Tuesday, as investors kept an eye on the slew of earnings and the start of the Federal Reserve meeting, while British insurer RSA surged 20%.
Michael Hulme, commodity equities fund manager at Carmignac, talks about BP's future following its Q2 earnings.
U.S. stocks were tipped to open higher on Tuesday, ahead of the start of the U.S. Federal Reserve's two-day meeting, a raft of earnings and data.
Some of the names on the move ahead of the open.
U.S. stocks have some powerful negatives tugging at them, not the least of which are the Shanghai "panda bear" market and a global commodities rout.
Oil giant BP reported a $6.3 billion loss on Tuesday, and warned that low oil prices are here to stay.
LONDON— BP reported a second-quarter loss Tuesday after the London- based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident. The net loss of $5.82 billion compared with net income of $3.37 billion a year earlier. The report is the first since BP announced a deal that will provide a further $18.7 billion to five U.S....
BP, the oil giant, announced a second-quarter replacement cost loss of $6.3 billion, and warned low oil prices are here to stay.
Jonathan Barratt, chief investment officer at Ayers Alliance Securities, explains why he's expecting weaker second-quarter results for BP.
NEW ORLEANS— A federal judge says BP will begin paying up to $1 billion in settlements to compensate local governments across the Gulf Coast for lost tax revenue and other economic damages they blame on the company's 2010 oil spill. July 15 was the deadline for roughly 500 local governments in five states to decide whether to accept BP's settlement offers as...
Earnings have been largely positive this season, but some traders say bad news could be right around the corner.
The Fed meets next week, but a commodities meltdown and earnings season are adding to concerns about global growth and may steal some of its thunder.
The world's big energy groups have shelved $200 billion of spending on new projects in a round of cost-cutting aimed at protecting investors. The Financial Times reports.
NEW ORLEANS— A former BP engineer who won a new trial in a criminal case arising from the 2010 Gulf of Mexico oil spill is expected to learn the date of that trial next week. Federal prosecutors accused Kurt Mix of deleting text messages about the amount of oil flowing from BP's Macondo well after the Deepwater Horizon disaster. The New Orleans- based federal judge...
July 23- BP Plc's settlement of the Deepwater Horizon blowout and its cost reduction efforts should support its credit ratios to the end of 2016, ratings agency Standard& Poor's said, revising its outlook on the oil and gas major to stable from negative. S&P affirmed its highest' A-1' rating on BP's short-term credit and' A' on its long-term issue.
WASHINGTON— Surrounded by supporters as he announced his bid for the presidency, Jeb Bush decried the "swarms of lobbyists" holding sway in Washington and said he was the candidate ready to do something about it. "Look, the rest of the country struggles under big government, while comfortable, complacent interest groups in Washington have been thriving on it."
After Chesapeake got rid of its dividend, traders are training a nervous eye on another energy giant.
BILLINGS, Mont.— A train that derailed and spilled 35,000 gallons of oil in northeastern Montana was traveling within authorized speed limits, federal officials said Monday as they continued to probe the accident's cause. The Burlington Northern Santa Fe Railway train loaded with crude from North Dakota was traveling 44 mph before Thursday's wreck, U.S....
Five years after the Obama administration promised to move swiftly to permanently plug unused oil and gas wells in the Gulf of Mexico, even more shafts are lingering for longer periods with only temporary sealing, an investigation by The Associated Press shows. In July 2010, during the BP oil spill, the AP reported that the Gulf was littered with more than 27,000...
HOUSTON, July 15- Kinder Morgan Inc is considering more export opportunities from Texas and the U.S. "The market is very ripe in Houston right now, it's just a matter of which product makes the most sense," John Schlosser, head of Kinder Morgan's terminals division, said during a quarterly earnings call. Kinder Morgan already exports refined products and has...