Anyone who has been following the TNK-BP Russian joint venture can only conclude that the two partners desperately needed a divorce.

Concerns over low cash element in sale of stake in Russian venture to state giant

Rosneft has agreed to buy BP's 50% stake in its troubled TNK-BP joint venture

BP could unveil a $28bn (£17bn) deal with the Russian state-controlled oil group Rosneft as early as today.

BP could unveil a $28bn (£17bn) deal with the Russian state-controlled oil group Rosneft as early as today.

Rosneft circled in on TNK-BP yesterday as the state-owned oil giant tabled a bid of about $28bn (£17.5bn) for BP's half of the Russian joint venture – just two days after offering the same amount for the other 50 per cent.

Rosneft was on course to buy both halves of the TNK-BP Russian joint venture for an estimated $56bn (£35bn) last night after holding audacious overlapping takeover talks with the owners, BP and the AAR consortium.

BP to get stake in Russian giant with access to massive oil reserves in Arctic

The oil giant BP has sold its troubled Texas City oil refinery for $2.5bn (£1.6bn) to United States firm Marathon Petroleum.

BP has sold its troubled Texas City oil refinery for $2.5bn (£1.5bn) to the US company Marathon Petroleum.

Young Cajun garage-rockers Mama Rosin have found their perfect producer in Jon Spencer: an alliance of primitivist spirits keen to keep a roots music-form out of the museum, much as with Spencer's earlier work with bluesman RL Burnside.

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Investors really must be keen on giant bars of Dairy Milk for £1. The newspapers-to-stationery seller WH Smith, up 15.5p to 597.5p, got investors excited with a pre-close trading update that revealed it expects to reach profit of £100m for the first time in more than a decade. Shares hit an all-time high yesterday, so its strategy of selling bottles of water and magazines to captive audiences in train stations and airports has paid off.