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Exclusive: In mammoth task, BP sends almost three million barrels of U.S. oil to Asia

SINGAPORE Oil major BP is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts.

Recent Business News

Staples to sell controlling stake in European unit to Cerberus

Office supplies retailer Staples Inc said on Wednesday it would sell its controlling stake in its European business to an affiliate of private equity firm Cerberus Capital Management LP to focus on its North American operations.

6:08am EST

EU fines Agricole, JP Morgan and HSBC $520 million over Euribor

BRUSSELS The European Commission has fined Credit Agricole , HSBC and JPMorgan Chase a total of 485 million euros ($520 million) for their alleged participation in a cartel to manipulate the price of the Euribor financial benchmark.

6:51am EST

Britain's spending watchdog may review RBS privatization process

LONDON Britain's spending watchdog may open an investigation into the government's decision to start selling shares in Royal Bank of Scotland last year causing a 1.1 billion pound ($1.39 billion) loss for taxpayers, sparking accusations of poor timing from opposition politicians.

6:59am EST

Britain fines Pfizer record $107 million for huge drug price hike

LONDON Britain's competition watchdog has fined Pfizer a record 84.2 million pounds ($107 million) for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent.

4:29am EST

Sony to release six smartphone games to accelerate mobile drive

TOKYO Japan's Sony Corp will release as many as six smartphone games in the next financial year, hoping that its own gaming franchises can replicate the success of console rival Nintendo Co's Pokemon GO.

Tech, Japan 6:57am EST


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