After selling $50bn of assets in the fallout of the Deepwater Horizon disaster, the company sets out its stall for the future
Sixty is the magic number, at least for BP. The oil firm has drawn up its financial plan for the next two years and it revolves around the price of oil settling at around $60 per barrel.
There is a slight problem with this – in the last three months the average price of a barrel was about $50. However, that did not stop boss Bob Dudley hailing the company’s decisiveness in its third quarter results.
According to figures from the Office for National Statistics, construction output fell by more than 2% while industry contracted for a third successive quarter
The UK has become an easier place to do business in past year, says World Bank, after reforms to red tape and corporate tax
The government’s drive to cut red tape and corporate tax has seen the UK move up the international league table for doing business in a year that has seen both rich and poor countries strive to ease regulations on setting up and running companies, the World Bank said.
Britain rose from eighth to sixth place in the Washington-based organisation’s rankings and was the highest placed of the G7 group of leading industrial nations.
Sector outpaces wider economy in third quarter, up 5.9% on previous three months thanks to productions such as Star Wars: Rogue One
Britain’s film and music industries have confirmed their status as two of the fastest growing sectors in the country, according to the latest GDP data.
The film, video, TV and music publishing industries outpaced the wider economy between July and September, up 5.9% on the previous quarter, thanks to productions such as Star Wars spin-off Rogue One, which was shot at Pinewood Studios over the summer.
Related: GDP growth in the UK slows more than expected to 0.5%
Chancellor George Osborne says he will respond to concerns about the impact of tax credit cuts after his plans were rejected by the House of Lords.
Oil giant BP announces a fall in profits due to lower oil and gas prices.
Shares in Asia slide with investors remaining cautious ahead of meetings of the US and Japanese central banks later in the week.
TalkTalk says it will only waive termination fees for customers wanting to end their contracts if money is stolen from them.