Cigarette makers including Philip Morris International Inc. and British American Tobacco Plc are fighting a last-ditch battle against a smoking crackdown in Russia, with three weeks left to change the government’s mind.
Australian regulators are considering requiring all trading algorithms to have an inbuilt “kill switch” to immediately disable them if they malfunction, Australian Securities and Investments Commission Chairman Greg Medcraft said at a conference in Sydney.
OAO Rosneft may swap shares with BP Plc and find a new partner for Arctic drilling if a court alllows the the U.K. explorer to split the two parts of their agreement, an independent director at BP’s Russian venture said.
BP Plc and its billionaire partners in TNK-BP asked the Russian oil venture’s three independent board members to review OAO Rosneft and the U.K. explorer’s planned alliance, said Alexander Shokhin , one of the directors.
TNK-BP, BP Plc ’s Russian oil venture, sees the collapse of the U.K. company’s Arctic exploration deal with state-run OAO Rosneft as the “least interesting outcome,” said Alexander Shokhin , an independent director on TNK-BP’s board.
Dmitry Medvedev and Barack Obama will try to jump-start economic links this week as Russia’s president travels to Silicon Valley and Washington, building on improved political ties after the U.S. “reset” relations.
Ex-German Chancellor Gerhard Schroeder and former Corus Group Plc Chairman James Leng resigned from TNK-BP’s board amid strained relations between BP Plc and its Russian billionaire partners, a person with knowledge of the decision said.
Russian Prime Minister Vladimir Putin may be moving to reassert his control over the presidency next year by creating a broad coalition of supporters under his personal leadership as backing for the ruling party wanes.