New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 4, 2014
07:56 EDTBPBP says disagrees with appeals court decision, held no provision for BEL claims
BP said it disagrees with the decision by the U.S. Court of Appeals for the Fifth Circuit denying the company’s request for a permanent injunction preventing certain payments under the Economic and Property Damages Settlement it reached in 2012. BP had asked the Court to prevent payments to business economic loss, BEL, claimants whose alleged injuries are not traceable to the Deepwater Horizon accident and oil spill. BP believes that such BEL claimants are not proper class members under the terms of the settlement and is considering its appellate options. The Judges on the panel split three ways, with two Judges voting to affirm the District Court and deny permanent injunctive relief but without agreeing in all respects on a rationale. By denying the relief BP requested, however, BP believes that today's decision will improperly allow for the payment of losses with no connection to the spill. BP further believes that unless this problem is fully corrected, the settlement cannot be upheld under the law. BP has accordingly already sought en banc rehearing of the January 2014 decision by a separate panel of the Fifth Circuit upholding the validity of the settlement. The full Court has not yet reached a decision on BP's en banc rehearing petition. As of December 31, 2013, BP held no provision for BEL claims payable under the settlement because no reliable estimate could be made. A provision for BEL claims will be established when the uncertainties referred to in BP’s fourth quarter and full year 2013 results announcement are resolved and a reliable estimate can be made of the liability, the company said.
News For BP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 22, 2015
09:57 EDTBPOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:00 EDTBPBP upgraded to Neutral on reduced Russia risk at JPMorgan
JPMorgan upgraded BP (BP) to Neutral citing less risk in Russia and a pathway to cash flow neutrality in 2017. JPMorgan this morning also upgraded Total (TOT) to Overweight and Eni SpA (E) to Neutral.
05:32 EDTBPBP upgraded to Neutral from Underweight at JPMorgan
May 21, 2015
07:25 EDTBPUBS to hold a conference
Subscribe for More Information
May 20, 2015
17:04 EDTBPBP to pay Transocean $125M in compensation for legal fees
Subscribe for More Information
17:03 EDTBPTransocean reaches settlement agreements with BP, PSC
Subscribe for More Information
15:01 EDTBPHalliburton reaches agreement with BP to resolve remaining issues
Subscribe for More Information
May 18, 2015
10:01 EDTBPOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:12 EDTBPBP downgraded to Sell from Neutral at Goldman
Goldman downgraded BP to Sell based on limited upstream growth, a slowdown in asset disposals, and ongoing overhang from Macondo.
May 15, 2015
06:44 EDTBPEnvironmentalists file lawsuit over oil train safety rules, NY Times says
Subscribe for More Information
May 12, 2015
05:38 EDTBPTechnip awarded lump sum project by BP Exploration & Production
Subscribe for More Information
May 11, 2015
13:28 EDTBPOPEC sees oil at around $76 a barrel in 2025, WSJ says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use