BP evacuates North Sea oilfield after unmanned barge drifts nearby

More than 200 workers evacuated from drilling platform as vessel breaks moorings in stormy seas and floats towards Valhall oilfield A North Sea oil rig in Norwegian waters on a calmer day. Photograph: Bloomberg/Getty Hundreds of oil workers have been evacuated from North Sea drilling platforms after an unmanned barge was cut adrift by storms. BP ordered more than 230 ... Read More »

SocGen to shut India equities research desk

People walk past a Societe Generale bank branch during rush-hour in Paris, May 19, 2015. REUTERS/CHRISTIAN HARTMANN/FILES Societe Generale, France’s second-biggest bank by market value, will shut its equities research desk in India as part of the bank’s internal reorganisation, a spokeswoman said on Thursday. The Mumbai-based India equities research desk employed four people, she said, and they were all ... Read More »

Puerto Rico will default on $37m in debt on New Year’s Day, governor confirms

Island commonwealth faces close to $1bn in interest payments in 2016 but governor says it will do ‘all it can’ to avoid shutting down government services People watch as Puerto Rico’s governor, Alejandro Garcia Padilla, addresses the nation in a televised speech. Photograph: Alvin Baez/Reuters Puerto Rico has run out of time and money and will default on $37m of ... Read More »

Cadila Healthcare shares plunge after FDA warns of violations

Pharmaceutical tablets and capsules in foil strips are arranged on a table in this picture illustration taken in Ljubljana September 18, 2013. REUTERS/SRDJAN ZIVULOVIC/FILES Cadila Healthcare Ltd has received a U.S. Food and Drug Administration (FDA) warning letter for violating manufacturing standards at two of its production facilities, the latest in a series of Indian companies to face such action. ... Read More »

Amazon starts offering loans to customers with pay monthly option

Instalment loans offered to those spending over £400 in potential ‘gamechanger’ for UK furniture and electricals market Amazon dispatch centre in Hemel Hempstead, Hertfordshire. Photograph: Nick Ansell/PA Amazon has started offering loans to customers buying products off its website in a move that could shake up the UK furniture and electricals market. The world’s biggest online retailer is offering a ... Read More »

TRAI gets record public submissions for net neutrality rules

A picture illustration shows a Facebook logo reflected in a person’s eye, in Zenica, March 13, 2015. REUTERS/DADO RUVIC/FILES The Telecom Regulatory Authority of India (TRAI) said it had received record submissions on a consultation paper for framing differential pricing rules that will decide the fate of Facebook Inc’s (FB.O) free Internet in India. The telecommunications regulator said it will ... Read More »

New year, same old story as FCA lets bankers off hook by dropping review

The Financial Conduct Authority building in Canary Wharf, London. The scrapping of the investigation even left some Conservative MPs disappointed. Photograph: David Levene for the Guardian Thursday 31 December 2015 12.35 GMTLast modified on Thursday 31 December 201512.51 GMT The last serious scandal to squeeze into the news in 2015 doesn’t turn out to be Lynton “dog whistle” Crosby’s knighthood or other ... Read More »

Stocks slip, close year mixed; oil ends ugly 2015 with slight gain

The trading floor of Frankfurt’s stock exchange is pictured after the last trading day in Frankfurt, Germany December 30, 2015. REUTERS/RALPH ORLOWSKI Stock and bond markets in major economies closed 2015 with a mixed performance, while oil prices and emerging markets cemented big losses during a year that provided few safe places for investors. While equity markets in Japan and ... Read More »

Almost 900 UK bankers paid €1m plus by US banks in 2014

Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch and JP Morgan disclose payments to comply with EU rules The Bank of America Merrill Lynch building in Canary Wharf, London. Photograph: Mo Peerbacus/Alamy More than 800 bankers in the UK were paid at least €1m (£736,000) by four major US investment banks in 2014. The regulatory disclosures by four US ... Read More »

India to tighten rules for credit cooperatives to protect investors – official

A man walks past Sahara India Complex building in Noida on the outskirts of New Delhi February 25, 2015. REUTERS/ADNAN ABIDI/FILES India will crack down on errant financial firms that raise funds, mainly from millions of rural poor customers, through loosely regulated credit cooperative societies, a senior official in the agriculture ministry said. This follows a Reuters investigation that revealed ... Read More »