The Financial Times obtained BP’s report on internal audit security, carried out last year. It states that, despite earlier disaster in the Gulf of Mexico and adopted program to improve safety measures, the company is still not paying enough attention to control important technical information. In recent years, such inattention resulted in several incidents that could lead to death of people....

On Sunday, Iran signed an agreement to purchase 80 passenger Boeings worth $ 16.6 billion. The country’s representatives also announced purchase of a dozen Airbus aircraft, thus concluding the biggest deal with Western companies since the 1979 Islamic revolution. Under the deal, IranAir buys Boeings 737 MAX and thirty Boeings 777. Iranian official told Reuters that IranAir is also on the "very...

In anticipation of growth of the world’s urban population, the largest seller of furniture and household goods, Sweden IKEA, will open smaller shops and pickup points located closer to city centers. "Until now, our recipe for success was to build large stores on potato fields. Now, however, we expect that 70% of the world population will live in cities by 2050 - said CEO of IKEA Peter Agnefjäll....

In mid-November, media reported that UniCredit is planning to raise € 13 billion on the market to strengthen its capital. The bank needs the funds to stabilize its position, which has weakened due to deterioration of overall situation in the country’s banking market. At the end of the third...

Pimco Total Return Fund, which has been the largest active fund investment in US bonds for two decades, lost the lead to Metropolitan West Total Return Bond Fund. According to Morningstar Inc., assets of MetWest fund increased by approximately $ 10 billion since beginning of the year, and amounted to about $ 79.6 billion as of the end of November, compared with $ 78.5 billion in the fund managed...

Going to IPO 25 years ago, Starbucks made its bet on a bold idea that Americans would be willing to pay more than $ 1 for a cup of coffee. Now, the company is confident that people will pay $ 12 for a cup in its expensive coffee restaurants. Founder of Starbucks, Howard Schultz, who last week announced his resignation as CEO, will lead this project. Experts explain this step by lower purchasing...

The tech sector remains one of the most profitable and fastest growing part of S&P 500, yet it is quite expensive. Moreover, victory of Donald Trump gave investors jitters about fate of some of the biggest players, such as Amazon or Facebook. However, technology investor Paul Wick says there are exceptions in the general trend, especially in less fashionable but equally important sectors of the...

Danish Maersk Line, the world’s largest container shipping company, and Oetker Group reached agreement on Maersk Line’s acquisition of German shipping company Hamburg Süd, the Danish company said in a statement. The acquisition is subject to final agreement and approval of relevant authorities. Hamburg Süd (founded in 1871) is currently the world’s seventh-largest transport and logistics shipping...

Swiss tobacco giant Philip Morris may stop selling cigarettes, said André Calantzopoulos, CEO and Director of Philip Morris International Inc. in an interview with BBC. "I believe that there will come a time when I will declare that we have alternative products", - he said, noting that he hopes to work with governments to begin phasing out the cigarette. "I hope that this will happen in the...