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Stock Market & Financial Investment News

News Breaks
March 11, 2014
12:11 EDTLYG, BPBP: Currency traders did not engage in inappropriate trading, Reuters reports
Following a media report alleged one of BP's (BP) currency traders received information from a dealer at Lloyds (LYG), the British oil company has fired back by saying that none of its traders engaged in inappropriate trading activity, Reuters reports. "We carried out a detailed investigation into this allegation, including examining communication on messaging systems and phone, and trading activity," a BP spokesman said, adding that "Based on this detailed investigation, we strongly refute any suggestion that any BP FX traders engaged in inappropriate trading activity in this market." Reference Link
News For BP;LYG From The Last 14 Days
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January 20, 2015
07:30 EDTLYGU.K. banks see Bitcoin as threat to sterling, boon to terrorists, Telegraph says
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January 19, 2015
06:47 EDTBPJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
18:32 EDTBPBP will cite crude price decline in Gulf spill fine determination, WSJ says
BP, which is facing up to $13.7B in federal fines, is set to go to trial on January 20 in federal court in New Orleans to determine the amount it must pay the U.S. government for each barrel of crude that spilled into the Gulf during the 2010 Deepwater Horizon disaster, says the Wall Street Journal. BP's lawyers plan to use the recent plunge in oil prices in their arguments before the court and will likely cite a weakened BP Exploration & Production, the subsidiary that is charged with the spill violations, added the Wall Street Journal. Reference Link
18:11 EDTBPAnadarko faces pollution penalty in Deepwater Horizon disaster, WSJ says
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14:22 EDTBPSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
January 16, 2015
10:24 EDTBPOptions point to oil falling to near $30 per barrel, Merrill Lynch says
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10:06 EDTLYGHigh option volume stocks
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10:01 EDTBPOn The Fly: Analyst Downgrade Summary
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08:29 EDTBPBP downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded BP to Underweight saying it expects 2015/2016 consensus estimates for Big Oil names to decline by more than 50% as oil price outlooks come down.
07:37 EDTBPBP downgraded to Hold from Buy at Canaccord
06:49 EDTBPOil prices climb after IEA says production falling, Reuters reports
Oil prices rebounded today after the International Energy Agency, or IEA, said it saw signs that oil production was falling in some areas, including North America, according to Reuters. "A price recovery...may not be imminent, but signs are mounting that the tide will turn," Reuters quoted the IEA as saying. Oil prices could rebound in the second half of the year, the IEA indicated, the news service reported. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
January 15, 2015
17:53 EDTBPBP may pay up to $13.7B in fines for Deepwater Horizon Gulf spill case, WSJ says
BP may have to pay a maximum $13.7B in fines for the oil that escaped into the Gulf of Mexico in the 2010 Deepwater Horizon incident, says the Wall Street Journal. A federal judge ruled that the company is liable for just over 3M barrels of oil spilled in the disaster, added the Wall Street Journal. Reference Link
06:42 EDTLYGECB most likely will unveil bond buying program, NY Times says
The European Central Bank is "all but certain" to announce at its next meeting that it will buy government bonds, according to The New York Times. But the ECB may announce that it will buy bonds but say that it will only provide details about the program in March, some believe, the newspaper reported. Some economists contend that the initiative could be a case of "too little, too late," The Times added. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:10 EDTBPBP cutting 300 jobs in onshore roles, Daily Mail reports
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January 14, 2015
06:54 EDTBPEnergy Department says oil production to rise this year, NY Times says
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06:44 EDTLYGTop court official backs ECB bond buying, NY Times reports
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January 12, 2015
14:51 EDTBPSaudi Prince Alwaleed says oil won't hit $100 again, USA Today reports
Oil will never reach a price of $100 per barrel again, Saudi billionaire businessman Prince Alwaleed bin Talal said, according to USA Today. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
09:34 EDTBPActive equity options trading
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January 11, 2015
20:35 EDTBPGoldman Sachs sees oil bottoming in Q2 at $42/barrell
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18:54 EDTBPCourt refuses to hear BP appeal for Deepwater Horizon liability, NY Times says
BP's (BP) request for a federal appeals court to reconsider its 2014 ruling that the company remains liable of federal penalties for the Deepwater Horizon spill in 2010 was denied, reports the New York Times. A trial will take place this month to determine BP's and Anadarko Petroleum's (APC) penalties for violation of the Clean Water Act, the Times adds. Reference Link
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