Thursday, June 17, 2010

Better Reporting, Please.

The Economist, today:

The collapse in BP’s share price suggests that [President Obama] has convinced the markets that he is an American version of Vladimir Putin, willing to harry firms into doing his bidding.


The markets, today


LONDON—Shares in oil giant BP PLC jumped as much as 9.8% in London a day after the company struck a deal with the Obama administration to set aside $20 billion to cover costs of the oil spill in the Gulf of Mexico.

Heading into the European close, BP shares recently were up 7.1%, or 23.95 pence, at 360.95 pence, leading the FTSE 100 index. The company's shares have plunged since the April 20 explosion aboard the Deepwater Horizon drilling rig that killed 11 workers and lead to the spill.

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