BP makes two-year plan for dust to settle at average of $60 a barrel

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.

Continue reading…

Britain named sixth best country for doing business

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.

Continue reading…

GDP figures confirm boom in UK film and music industries

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%

Continue reading…