Good morning. BP announced plans to repurchase $ 2.5 billion worth of shares this quarter after rising oil prices helped boost cash flows.
The energy giant said the price boom had helped offset a $ 25.5 billion fee that had arisen since leaving its stake in Russian producer Rosneft. It reported first-quarter profit of $ 6.2 billion, the highest in a decade.
5 things to start your day with
1) Brussels accuses Apple of distorting competition in contactless payments. The iPhone maker has been accused of violating competition law by restricting competitors’ ability to create contactless payment applications.
2) Why Russian restaurateurs in London fear reaction against Ukraine Hot meals that once boasted of ties to Putin are now speaking out against the invasion.
3) London is battered by the increase in homework. The capital lags behind other cities as travelers avoid the office.
4) Britain turns to South Korea in the fight to strengthen nuclear energy Kwasi Kwarteng in negotiations for a new generation of reactors, while the United Kingdom seeks stronger energy security
5) Julian Jessop: Brexit is not to blame for the jump in inflation and rising food prices Experts rely more on forecasts and models than on hard facts in a recent commentary on Britain.
What happened during the night
Asian stocks fell mostly on Tuesday as markets prepare for a sharp rise in US interest rates. Hong Kong returned from a long weekend break to lead the retreat, losing more than 2 percent at one point. Sydney also fell ahead of an expected rate hike from the Reserve Bank of Australia later in the day, while Taipei and Wellington also fell. Seoul rose slightly as Tokyo, Shanghai, Mumbai, Singapore and Jakarta closed.
Expect today
Results for the whole year: Card Factory
Intermediate: BP
Economics: PMI of production, BRC (UK) store price index; unemployment rate (EU); factory orders (USA)
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