BP surged back into profit in the first nine months of 2011, and has now reached a "clear turning point" after last year's devastating Gulf of Mexico oil disaster, it declared on Tuesday.
The group said it will sell another $15 billion of non-core assets by 2013, expanding its divestment program to $45 billion, as it seeks to recover oil spill-related costs and re-invest in high-growth activities.Full Story
Germany's top lender Deutsche Bank announced on Tuesday a 37-percent drop in third quarter profits due to the financial downturn but said it was confident it could face the economic crisis without public capital.Full Story
Harley-Davidson said Monday it is recalling more than 308,000 of its prized motorcycles due to problems with a rear brake light switch.
In filings with the Securities and Exchange Commission and the National Highway Traffic Safety Administration, Harley said the recall involved Touring, CVO Touring and Trike models made between June 6, 2008, and September 16, 2011.Full Story
World oil prices advanced Monday on cautious optimism after encouraging Chinese and Eurozone economic data, and following the weekend's Eurozone debt crisis summit, analysts said.
New York's main contract, light sweet crude for delivery in December added 35 cents to $87.75 a barrel.Full Story
Asian shares surged on Monday after weekend meetings of European leaders resulted in "good progress" on tackling a regional debt crisis that has threatened to plunge the world economy into recession.
The Eurozone wants to beef up its 440-billion-euro ($610 billion) rescue fund, the European Financial Stability Facility, to convince markets it has the means to protect highly indebted nations such as Italy and Greece.Full Story
Software company Oracle Corp. said Monday that it is buying RightNow Technologies Inc. for about $1.5 billion so it can offer a broader range of software and services that help businesses manage customer service.
Oracle is offering $43 per share for the tech service company from Bozeman, Mont.. That is a 19.6 percent premium over RightNow's closing price of $35.96 on Friday.Full Story
Hundreds of Kuwait Airways Corp. staff began an indefinite strike Monday to demand a pay increase for national workers, disrupting flights of the flag carrier, head of the trade union said.
"We have started an open strike from today. It will continue until the government meets our legitimate demands of raising our wages," Abdullah al-Hajeri told Agence France Presse.Full Story
French President Nicolas Sarkozy on Saturday cited "progress" in ongoing talks to contain the Eurozone debt crisis after a telephone conversation earlier with German Chancellor Angela Merkel.
"I spoke to the chancellor this afternoon, there is progress, we are going to work tonight," he told reporters on arriving in Brussels ahead of a European Union summit Sunday.Full Story
European ministers embarked Saturday on overhauling a rescue package for Greece, ahead of crunch French-German talks to resolve a row over a crisis that threatens to cause global recession.
Amid dire warnings that the debt crisis is endangering all of Europe, ministers said that banks had to take a greater share of the pain in a rescue package agreed in July but already seen as insufficient to solve Greek woes.Full Story
China on Saturday pledged "full fledged support" for next month's G20 leaders summit in France, as the deepening Eurozone crisis threatens to tip the global economy back into recession.
Vice Premier Wang Qishan, China's top official on financial affairs, made the comments during a meeting with French Foreign Minister Alain Juppe, who stopped over in the Chinese capital following a visit to India.Full Story