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The Latest Breaking News from British Petroleum

California's lawsuit says oil giants downplayed climate change. Here's what to know

California accuses oil companies of misleading the public on the dangers of fossil fuels for decades. The state demands they help fund recovery efforts after climate change-fueled disasters.

WEKU

BP to review personal relationships between staff to root out ‘problematic’ conduct

Exclusive: oil giant to put particular focus on senior managers after shock departure of CEO Bernard Looney

The Guardian - UK

New BP boss to replace Bernard Looney could be external hire, says chairman

Helge Lund says hiring process could lead to oil giant’s first external chief executive hire for decades

The Guardian - UK

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BP must not backtrack on climate action after CEO’s exit, say campaigners

Outgoing chief executive Bernard Looney presided over plans to cut fossil fuel output by end of decade

The Guardian - UK

Thursday briefing: What we know about the sudden exit of BP’s Bernard Looney

In today’s newsletter: The CEO quit after admitting he had not been ‘fully transparent’ about relationships he had with employees – is this just the start of a new era of corporate accountability?

The Guardian - UK

BP board faces questions over ex-CEO’s personal relations with colleagues

Sources say there was speculation about Bernard Looney’s relationships at the firm long before he became chief executive

The Guardian - UK

BP needs a new chief executive not a slower strategy towards net zero

Oil firm should get out and argue the case for sticking to the transition timetable as Bernard Looney’s successor is sought

The Guardian - UK

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When BP chiefs depart, it’s usually a dramatic exit

City Comment: These embarrassing boardroom distractions are not helpful

Evening Standard

FTSE 100 Live: Shares close flat as UK GDP shrinks by 0.5%, BP CEO quits, US inflation up

The shock resignation of one of the UK’s most influential captains of industry was the main talking point on London’s stock market today, as the FTSE 100 held steady overall.

Evening Standard

BP ‘turtle’ Brendan Looney out of the company he loved after relationships with staff

The story of how BP’s £10m-a-year-boss Brendan Looney had it all and threw it away

Evening Standard

BP shares fall after shock departure of chief executive

Bernard Looney resigned having admitted to failing to fully detail relationships with colleagues

The Guardian - UK

BP leader is the latest to resign over questions about personal conduct

Global energy giant BP is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct

The Independent UK

Four charged with fraud over Patisserie Valerie collapse; UK GDP shrinks 0.5% in July – as it happened

All three main sectors of the economy in decline after strikes by doctors, radiographers and teachers, while construction and retail hit by wet weather

The Guardian - UK

Wednesday briefing: What Kim Jong-un wants from his surprise meeting with Vladimir Putin

In today’s newsletter: The North Korean leader makes his first international trip in four years – but what’s at stake?

The Guardian - UK

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news in one place.

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The Independent UK

BP boss Bernard Looney resigns over past relationships with colleagues

Irishman took role as chief executive of oil giant in February 2020 with pledge to make it carbon neutral by mid-century

The Guardian - UK

BP boss Bernard Looney resigns after failing to reveal relationships with colleagues

Company says he only disclosed ‘a small number of historical relationships prior to becoming CEO’

The Independent UK

BP chief executive Bernard Looney resigns over past relationships with colleagues

The chief executive of British energy giant BP has resigned after he accepted that he was not “fully transparent” in his disclosures about past relationships with colleagues

Evening Standard

Shock as BP boss quits over ‘relationships with colleagues’

According to BP’s annual report, Looney was paid £10 million last year

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StockNews.com

Step Into September With 3 Strong Energy Buys

Forecasts by industry professionals indicate an upswing in oil prices due to increased demand and supply constraints. The rising price trends could significantly strengthen the energy sector in the near term. Therefore, entering September, fundamentally strong energy stocks BP p.l.c. (BP), Transportadora de Gas del Sur S.A. (TGS), and GeoPark…

Motorsport

Supercars extends biofuel to second, third tiers

The main game moved from an E85 blend to an E75 biofuel for this season, which contains more than 80 per cent second-generation fuel components.

Capital & Main

Why Ambitious U.S. Emissions Reduction Goals Are Increasingly Out of Reach

Amid huge profits for oil majors, pressure builds on banks to cut ties.

Evening Standard

Cambridge engineer taps ex-Tory Treasurer to invest in Earzz home listening device

James Lupton, who attracted controversy for being given a peerage after he was found to have donated millions of pounds to the Conservative Party, controls a 13% stake in the business

The Guardian - UK

Brand aid: have Britain’s arts venues sold out to The Man?

Manchester’s Aviva Studios is the latest venue to give its naming rights to the highest bidder. Is corporate sponsorship a necessity for the survival of the arts?

The Guardian - UK

More than 100 MPs received freebies worth £180,000 this summer

Exclusive: Oliver Dowden and Keir Starmer among those who enjoyed free tickets to events including the Chelsea flower show and the Derby

Fortune

The top 100 bosses in the U.K. scored a pay hike of over $600k last year—the highest in six years

Among the highest paid CEOs were pharmaceutical giant AstraZeneca’s chief Pascal Soriot, with £15.3 million ($19.6 million), and defense company BAE Systems CEO Charles Woodburn, who earned £10.7 million ($13.7 million).

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