BP has followed in the footsteps of its big oil rivals and increased profits significantly.
FTSE 100 companies said second-quarter profit tripled to $8.5 billion (£6.9 billion). This is the highest value since 2008.
Like its competitors, BP has profited from skyrocketing energy prices amid Russia’s war in Ukraine, sharing its spoils with investors.
The company increased its dividend by 10 percent and announced a $3.5 billion share buyback program over the next three months. This follows his $3.8 billion buyback in the first half.
Meanwhile, according to Cornwall Insight’s latest forecast, household energy bills are expected to reach £3,615 in the new year. That’s hundreds of pounds higher than previous estimates.
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2) Tax burden under Sunak remains at 70-year high – even after he promised income tax cuts IFS warns former prime minister’s planned cuts won’t undo damage from his previous national insurance and corporate tax raids
3) How HSBC is at the forefront of the new Cold War Banks attack China bid to power board
Four) Military told to remove security clearance from LinkedIn due to espionage fears Recruiters seem to have contacted defense staff touting top-secret level access amid Chinese espionage risk
Five) Economists warn New Zealand has a one-in-three chance of recession Goldman Sachs says economy has yet to recover from Jacinda Ardern’s draconian lockdown
what happened overnight
Asian stocks continued their decline from Wall Street this morning, US long-term bond yields fell to four-month lows and the US dollar weakened against the yen and other currencies as investors worried about the risk of a global recession. fell against
Australian shares fell amid an uncertain outlook for commodity demand, which also impacted oil prices, while the local dollar traded near its highest level against the US currency since mid-June. , the central bank was widely expected to offer a 0.5 percentage point interest rate for the third time in a row. rate hike later in the day.
Australian and South Korean stock indices each fell about 0.3%, while Japan’s Nikkei fell 1.17%.
China’s blue chips fell 1.06%, while Hong Kong’s Hang Seng fell 1.1%. Taiwan’s stock index fell 1.68%.
MSCI’s broadest index of Asia-Pacific equities retreated 0.8%.
- Company: BP, Capital & County Properties, Coats Group, Direct Line, Domino’s Pizza, Elementis, Fresnillo, Greggs, Man Group Rotork, Synthomer, Travis Perkins (interim); Sage Group (deal update)
- Economy: National House Price Index (UK)