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BP seeks lower penalty for 2010 oil spill

Group says disaster payout should reflect crude price fall

Watchdog hits PwC with 2 separate probes

Investigation relates to audit clients Tesco and Barclays

Kingfisher sells 70% stake in China B&Q

Latest in a string of reversals for foreign retailers in mainland

Seplat and Afren in talks over oil merger

A deal would create a $2.8bn Nigeria-focused energy group

Pakistan mourns victims as militants hang

Sharif seeks to show he is getting tough on terror

The fat lady sings for Earls Court

Demolition work has started on the classic 1930s’ venue English Heritage declined to list

Scotland, UK --- Flaring a well signals huge success for Amerada Hess in this discovery well that produced at the rate of 10,000 barrels of oil per day. It was the biggest find in the Scottish sector of the North Sea in over a decade. On exploration wells there is no way to contain out-flowing gas and oil without risking an explosion, so hydrocarbons are shot out into the atmosphere and ignited. A test burn like this will last several hours to be sure the rate of flow is sustainable before a company will invest millions to lay an underwater pipeline and bring in a production platform. --- Image by © George Steinmetz/Corbis
©George Steinmetz/Corbis

Oil rout undermines Scots’ Yes finances

Study shows North Sea revenue would be fifth of Holyrood forecast

Christmas Day heading for record sales

Tablets and smartphones to drive holiday sales

Alstom faces fresh UK corruption charges

SFO accuses Alstom Power Ltd of bribery over Lithuania plant

Record number of rich Russians head to UK

Investor visas up 69% this year as Moscow economic woes worsen

Whitehall

Private group helps exchequer chase debts

Ministers strike deal with US-owned ‘recovery management’ company

Comment and Analysis

Winning White House race will cost $1bn

A crowded field is already jostling to replace Obama in 2016

A guest looks towards the Teton Mountains from the Jackson Lake Lodge in Teton National Park near Jackson Hole, Wyoming, U.S
©Andrew Harrer/Bloomberg

A year in a word: Peak

The humble word has become a fully-fledged ‘thing’, writes Jonathan Ford

On Cuba, no side has got it right

It is strange that the island is still a focal point of US foreign policy, says Cardiff Garcia

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