FTSE bosses should be paid like top footballers, says ICAP founder Investing Bosses of London-listed firms should be paid like the best footballers without facing a backlash, Michael Spencer has argued. The founder of brokerage ICAP and former Conservative party Treasurer said that to attract top talent to run major companies, the UK needed to tackle the “political hot potato” of FTSE bosses’ pay. “We don’t mind [...]
BP and Shell profit set to slide on sluggish oil prices Energy BP and Shell are expected to post lower profits this week as the supermajors grapple with weak oil prices and a global slowdown in demand.
Activist investor calls for BP chair to quit after ’embarrassing’ performance Energy An activist investor famed for ousting senior leadership has called for BP chair Helge Lund to quit after the oil major’s “embarrassing” performance. Bluebell Capital Partners, a London-based hedge fund, has written to BP’s board board twice in the past few weeks attacking its management and the firm’s approach to the transition. Bluebell co-founders, Guiseppe [...]
BP profit hit by weaker refining margins as ‘flat’ oil and gas production forecast October 11, 2024 The oil giant also said it expects net debt to now come in higher, driven primarily by the impact of weaker refining margins.
Scottish Mortgage no longer most bought trust as Fundsmith Equity claws back 10th October 2, 2024 Scottish Mortgage is no longer the most bought investment trust in the UK, according to the Interactive Investor Most Bought List, as the popular retail pick falls into second. The growth trust was eclipsed in September by Blackrock World Mining, a commodities-focused trust which is up 15 per cent in the last three weeks and [...]
BP puts US onshore wind power business up for sale September 16, 2024 BP plans to sell its onshore wind business in the US in a further sign that the oil major is rowing back on its commitment to transition towards developing more renewable energy projects. The firm said on Monday that it would launch a sale process BP Wind Energy, its American onshore wind energy division that [...]
FTSE 100: BP, Shell and oil prices surge on assassination of Hamas leader in Iran July 31, 2024 The FTSE 100 jumped over a hundred points on Wednesday morning, after the assassinations of two Hamas and Hezbollah leaders caused the index’s energy and commodities constituents to surge. Shares in BP and Shell both rose by between two and three per cent in early morning trading, helping the index as a whole to jump [...]
BP: Oil giant lifts dividend as it beats expectations in second quarter July 30, 2024 Oil giant BP reported a stronger-than-expected net profit for the second quarter and raised its divided despite earlier warnings of lower refining margins.
BP shares slide four per cent after warning of £1.6bn impairment July 9, 2024 BP also said its second-quarter results, expected on July 30, will include post-tax adverse adjustments around what it called "onerous contract provisions. These are expected to be between $1bn and $2bn.
Disgraced former BP boss Bernard Looney plans Abu Dhabi comeback July 8, 2024 Former BP chief executive Bernard Looney is reportedly plotting a comeback in Abu Dhabi after he was dismissed last year over past relationships with colleagues.