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BP profits plunge 96% in fourth quarter as pandemic hits fuel demand

BP profits plunge 96% in fourth quarter as pandemic hits fuel demand

BP reported a 96 per cent drop in fourth-quarter profits as the hit to energy demand from the pandemic and weaker trading results took the UK oil major to its first annual loss in a decade. Underlying profit on a replacement cost basis — the measure of income tracked most closely by industry analysts — was $115m in the three months to December 31. This fell short of analyst expectations of a profit of $370m, according to a company-compiled estimate, and compares with $2.6bn in the same period the year before. It has been a brutal year for the industry,…

BaFin chief pushed out over dealing with of Wirecard scandal

BaFin chief pushed out over handling of Wirecard scandal

Germany’s finance minister has pushed out Felix Hufeld, head of the nation’s monetary watchdog BaFin, over his dealing with of the Wirecard scandal, the worst accounting fraud within the nation’s postwar historical past.In a press release, Olaf Scholz mentioned the Wirecard affair had revealed that Germany’s system of economic regulation “must be reorganised, in order that it may fulfil its supervisory position extra successfully”. The federal government didn't instantly title a successor for the 59-year-old, who had run BaFin since 2015. Mr Hufeld’s deputy Elisabeth Roegele, who's accountable for monetary markets supervision, will keep in her position. BaFin has been…

Republican senators float compromise $600bn stimulus deal

Republican senators float compromise $600bn stimulus deal

A gaggle of Republican senators has requested to fulfill US president Joe Biden to debate an alternate $600bn Covid-19 aid bundle — a much less bold financial injection which they declare might achieve bipartisan assist.The proposal from the ten-strong group, which incorporates moderates Susan Collins and Mitt Romney, falls far wanting Mr Biden’s personal $1.9tn financial aid bundle. Democrats are contemplating attempting to move that plan by way of a congressional process which might enable them to bypass Republicans, who contemplate it too pricey.“Our proposal displays a lot of your acknowledged priorities, and together with your assist, we consider that…

Santa Clarita agent sells snowmobile insurance

Many Californians love to ride on these machines, but are not aware that coverage is available or most of all, how low price it really is. When most people think of the LA area, the last thing they think of is snow, but knowledgeable Allstate insurance agent Kimberley Ellison recognizes a significant snowmobile coverage market. Snowmobile insurance is more accessible and important to this community than many people know. Not far from LA is Mammoth, California, where snowmobile riders love to go out and enjoy trails, open snow and adventure rides. As an experienced personal line agent who is heavily…

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