BP has halted share buy-backs after reporting weaker annual profits as it prepares to continue a plan to resuscitate its fortunes under a new chief executive. The company’s underlying earnings fell to just below $7.5bn (£5.5bn) for 2025, from almost $9bn for 2024, after global oil prices fell for a third consecutive year and at the steepest rate since the Covid pandemic. It said it would suspend quarterly share buy-backs from investors for the first time since the early stages of the pandemic, when a global collapse in oil prices forced the 116-year-old company to a record loss. The decision
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