Sinopec Group (SHI), China’s second-largest oil and gas producer, will invest $7.1 billion in Repsol’s (REP) Brazilian unit.
Sinopec will buy new shares in the Spanish company’s Brazilian unit, giving the Chinese company a 40% stake, Bloomberg News s…
BP (BP) named the U.S. oil assets that will help finance its $20 billion compensation fund for victims of the Gulf oil disaster.
Revenue from oil fields including Thunder Horse, Atlantis and Mad Dog will be tied to compensation payments, the oil giant said in a statement.
“The pledging of these assets underscores our commitments to the Trust which we set up to pay all legitimate…
Continue reading BP Names Assets as Collateral For Compensation Fund
BP Names Assets as Collateral For Compensation Fund originally appeared on DailyFinance on Fri, 01 Oct 2010 07:04:00.
Filed Under: Energy, Company News, Technology, Green, BP
Gymboree Corp (GYMB) surged in extended-hours trading following reports that it is considering selling itself to private equity companies.
The stock jumped 19.69% to $49.72 a share as of 7:59 pm ET Thursday.
The children’s clothing’s retailer and its bankers have been soliciting interest from potential buyers, The Wall Street Journal reported without naming its sources.
Private…
Continue reading Gymboree Jumps in Extended Hours Trading on Potential Sale
Gymboree Jumps in Extended Hours Trading on Potential Sale originally appeared on DailyFinance on Fri, 01 Oct 2010 06:45:00.
Filed Under: Company News, Retail, Stocks in the News
BMW is recalling nearly 200,000 cars in North America because of possible leaks in their braking systems.
The recall affects BMW 5 Series, 6 Series and 7 Series vehicles with V8 and V12 engines from the model years 2002-2010, The Associated Press said. Rolls-Royce Motor Cars from the 2003-2010 model years are also affected.
BMW said that a leak could develop in the power braking…
Continue reading BMW North America Recalls Nearly 200,000 Cars
BMW North America Recalls Nearly 200,000 Cars originally appeared on DailyFinance on Fri, 01 Oct 2010 06:29:00.
Filed Under: Company News, Technology, Autos
BP may restart its dividend payments early next year after choosing to suspend them in the aftermath of the explosion of its Deepwater Horizon rig in the Gulf of Mexico in April.
Continue reading BP’s Incoming …