BP chief focuses on future as oil giant posts loss

BP's new chief executive shifted focus at the oil giant to the "future rather than the legacy of the past" today as it revealed the Gulf of Mexico oil spill saw the company sink to its first loss in nearly 20 years.

Business Diary: Shares set for a Superbowl surge?

Good news for those with cash on Wall Street: this year's Superbowl match-up between the Pittsburgh Steelers and the Green Bay Packers is set to herald soaring share prices. According to market researcher Capital IQ, when the Steelers are in the big game the S&P 500 index surges by an average of 25.2 per cent for the calendar year, and by an average of 24.2 per cent when the Packers are in. Numbers like that should help mollify all those Wall Streeters crying over the demise of their beloved New York Jets.

Hayward in the running for Glencore board role

Tony Hayward, the former chief executive of BP who was forced to step down in the wake of the devastating Gulf of Mexico oil spill, has emerged as a possible candidate for a board seat at Glencore, the world's biggest commodities trader.

RSA's profits dive as it pays out millions in weather claims

Ihe insurer Royal & SunAlliance yesterday became the latest company to say it had taken a multimillion-pound hit from this winter's cold snap.

BP deal gets a muted thumbs-up from the City

The markets gave a cautious welcome to BP's $7.8bn (£4.9bn) share-swap and Arctic exploration deal with Russia's Rosneft last night.

Polar pioneers: Is arctic oil the final frontier?

BP's bet on Russia is a technical, environmental and political risk

BP angers America again – this time over deal with Russians

BP's frantic efforts to repair its devastated reputation in the US have been set back by a major new alliance with the Russian government, prompting outraged comments from all sides of the political spectrum.

BP targets one of the world's last unspoilt wildernesses after deal

Environmentalists are angry at the energy giant's plans to drill for oil in a remote region of the Arctic

BP pipeline leak in Alaska rattles oil prices

Oil prices rose and BP shares fell last night amid nervousness about the leak that caused the shutdown of the Trans Alaska Pipeline, the supply route for more than 10 per cent of US crude oil.

David Prosser: BP breathes more easily – despite all the name-calling

Outlook Phew. That might sound a peculiar reaction to the damning Presidential Commission report into the Deepwater Horizon spill, but it's a fair summary of BP investors' response. After the report was published overnight, BP's shares opened up yesterday morning and stayed up for most of the day.

Johann Hari: For sale - Cameron's green credentials

Why do the Tories think timber companies want to buy the forests? To abandon the work they do and become druids?

Oil disaster inquiry probes 'systemic' failures

Economies and short cuts by BP and other firms contributed to last year's disastrous Gulf of Mexico oil spill, a damning official inquiry has found.

MPs say keep drilling despite risk from oil spill

Britain lacks the ability to deal with a large-scale North Sea oil spill in bad weather conditions but nonetheless should allow oil companies to continue deep water drilling off the coast, MPs will say today.

David Prosser: Britain cannot afford to turn its back on deepwater drilling

Outlook In the end, of course, it is all about the money. The Energy and Climate Change Committee's announcement today that a moratorium on deep-water drilling off the coast of the UK should not be imposed does not imply there is no risk of the sort of disaster seen in the Gulf of Mexico last summer. Whatever your views about the safety record of oil and gas explorers, that risk can never be entirely discounted. No, this is a decision based on a head-headed economic view: that such is the demand for oil and the cost of switching to less risky alternative sources of energy, deepwater drilling needs to continue.

The Business On... Andy Inglis, Head of Production at Petrofac

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Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 30 January 2015
As in 1942, Germany must show restraint over Greece

As in 1942, Germany must show restraint over Greece

Mussolini tried to warn his ally of the danger of bringing the country to its knees. So should we, says Patrick Cockburn
Britain's widening poverty gap should be causing outrage at the start of the election campaign

The short stroll that should be our walk of shame

Courting the global elite has failed to benefit Britain, as the vast disparity in wealth on display in the capital shows
Homeless Veterans appeal: The rise of the working poor: when having a job cannot prevent poverty

Homeless Veterans appeal

The rise of the working poor: when having a job cannot prevent poverty
Prince Charles the saviour of the nation? A new book highlights concerns about how political he will be when he eventually becomes king

Prince Charles the saviour of the nation?

A new book highlights concerns about how political he will be when he eventually becomes king
How books can defeat Isis: Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad

How books can defeat Isis

Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
Judith Hackitt: The myths of elf 'n' safety

Judith Hackitt: The myths of elf 'n' safety

She may be in charge of minimising our risks of injury, but the chair of the Health and Safety Executive still wants children to be able to hurt themselves
The open loathing between Barack Obama and Benjamin Netanyahu just got worse

The open loathing between Obama and Netanyahu just got worse

The Israeli PM's relationship with the Obama has always been chilly, but going over the President's head on Iran will do him no favours, says Rupert Cornwell
French chefs get 'le huff' as nation slips down global cuisine rankings

French chefs get 'le huff' as nation slips down global cuisine rankings

Fury at British best restaurants survey sees French magazine produce a rival list
Star choreographer Matthew Bourne gives young carers a chance to perform at Sadler's Wells

Young carers to make dance debut

What happened when superstar choreographer Matthew Bourne encouraged 27 teenage carers to think about themselves for once?
Design Council's 70th anniversary: Four of the most intriguing prototypes from Ones to Watch

Design Council's 70th anniversary

Four of the most intriguing prototypes from Ones to Watch
Dame Harriet Walter: The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment

Dame Harriet Walter interview

The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment
Art should not be a slave to the ideas driving it

Art should not be a slave to the ideas driving it

Critics of Tom Stoppard's new play seem to agree that cerebral can never trump character, says DJ Taylor
Bill Granger recipes: Our chef's winter salads will make you feel energised through February

Bill Granger's winter salads

Salads aren't just a bit on the side, says our chef - their crunch, colour and natural goodness are perfect for a midwinter pick-me-up
England vs Wales: Cool head George Ford ready to put out dragon fire

George Ford: Cool head ready to put out dragon fire

No 10’s calmness under pressure will be key for England in Cardiff
Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links