HSBC Holdings Plc and Lloyds Banking Group Plc pulled out of a loan for BP Plc and Moscow-based OAO Rosneft as the uprising in Ukraine shows no signs of abating, according to a person with knowledge of the matter.
A walk through Moscow reveals the threats to Western companies of Iran-style sanctions on Russia: Renault cars fill the streets, Zara and Louis Vuitton shops pull in consumers and Carlsberg A/S brews the beer of choice.
BP Plc and OAO Rosneft abandoned plans to seek lower borrowing costs for an oil-purchase loan deal and cut the amount they are seeking because of the Ukraine crisis, according to two people with knowledge of the matter.
U.S. citizens and residents with UBS AG accounts are racing the clock to disclose their secret holdings to the Internal Revenue Service after the Swiss Parliament ratified an agreement to surrender the names of 4,450 bank clients, tax lawyers said.
BP Plc may saddle potential buyers of its assets with lawsuits as Europe’s second-biggest oil company tries to raise money to pay claims that may reach $100 billion from the Gulf of Mexico spill, lawyers said.