BP Wants Deepwater Payouts Frozen Amid Probe

BP is urging a federal judge to halt all Gulf of Mexico oil spill settlement payments while fraud allegations are investigated. Former FBI director Louis Freeh is carrying out a probe into alleged misconduct by a lawyer who helped administer the multibillion-dollar...

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Cameron Under Fire As Lobbying Rules Unveiled

David Cameron is under renewed pressure about his election guru's lobbying interests as he insisted the Government was taking action to regulate the tobacco industry. Critics have questioned Lynton Crosby's role in the decision to put plain packaging...

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Barclays Fined For Rigging US Energy Market

Barclays and four of its traders have been fined a total of $488m (£322m) for manipulating the energy markets in the United States. Regulators said the energy market-rigging in western states took place between November 2006 and December 2008. Barclays...

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Fraud Office Ex-Boss Criticised Over Pay-Offs

The former director of the Serious Fraud Office showed "a disregard for the proper use of taxpayers' money" in agreeing severance packages worth around £1m for three senior staff, a spending watchdog has found. In a critical report, the House of Commons...

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Jobless Figure Falls At Fastest Rate In Years

The number of people unemployed fell by 57,000 in the three months to the end of May, official figures have revealed. The total jobless count sat at 2.51 million in the quarter, according to the Office for National Statistics (ONS). Meanwhile, the...

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Heathrow: Options For Third Runway Revealed

Heathrow airport officials have put forward three options for a new third runway at the west London site, saying any of the proposals will be good for Britain. Each option would let Heathrow move from 480,000 flights a year to 700,000 or more,...

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Japan: Yakuza Boss Sued Over Protection Racket

A woman is suing the head of Japan's biggest yakuza organised crime group over protection money she paid to gangsters. She claims the don of the Yamaguchi-gumi, Kenichi Shinoda, bears "employer's liability" for the gangsters who threatened to burn down...

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GSK Boss Witty To Quit His Whitehall Role

By Mark Kleinman, City Editor Sir Andrew Witty, the chief executive of GlaxoSmithKline (GSK), is to step down later this year from a key Whitehall post that has seen him become one of the coalition's most influential business advisors. Sky News...

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Barbie Owner Mattel Sees Profit Plunge 24%

Mattel, the maker of Barbie, has seen a 24% drop in quarterly profit - partly blamed on declining sales of the girls' doll. The California-based company said second-quarter sales of its Hot Wheel cars and Fisher-Price products had also slid. Mattel...

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Heatwave: Water Usage Up 44 Litres Per Person

People are using an additional 44 litres litres of water on average compared to a normal day, according to Thames Water. The utility company, which supplies London and the Thames Valley, said usage in the country's most populous area has spiked from...

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