Financial Times Deutschland, the unprofitable pink newspaper that was spun off from the U.K. title, was shuttered today, the latest victim of contracting circulation and advertising revenues as readers go online.
Once perceived as a fortress built on low leverage and strong cash flows, BP Plc seems to have managed its balance sheet much the way it ran exploration projects -- dangerously. Projections the company is feeding investors about how much cash it will have to pay claims are finally getting the skepticism they deserve.
U.K. stocks rallied to the highest level in more than a month after China signaled an end to the yuan’s fixed rate to the dollar, sparking a surge in commodity producers as metal and oil prices climbed.
BP Plc may reach an agreement as soon as next week to sell assets including half its stake in Alaska’s Prudhoe Bay field to Apache Corp . for $10 billion to $11 billion, according to two people familiar with the matter.
BP Plc ’s $3.5 billion bond sale generated a profit of about $54 million for fixed-income investors as the energy company returned to the debt market for the first time since a rig explosion caused the largest offshore U.S. oil spill in history.