Bp Share Discussion Threads

[miata] 03/12/2013 13:59

Exchange rates still THE factor:

[stevetk] 03/12/2013 12:47

Breaking news. BP has won a partial victory in its court battle over compensation to those affected by the Gulf of Mexico oil spill, which could save the oil giant millions in payouts.An appeal court ruled that BP, who is fighting a series of court battles relating to the April 2010 disaster, should not have to pay those who losses were not traceable.

[7monkey] 03/12/2013 12:31

Fill Yer Boots Santa

[bracke] 03/12/2013 12:07

Unpleasant as it may be the propect of a close of 'the gap' down to 450 is a distinct possibility. The Daily SMA 200 is at 457.

A visit from Santa appears unlikely.

[jak1] 03/12/2013 09:57

Still hard to believe our toothless government just stood by and didn't make any major protest over this fiasco. It would never have happened the other way round...

[jak1] 03/12/2013 09:29

good news, we need it...

[whitestone] 03/12/2013 08:51

December 3, 2013 12:20 am

BP wins battle to limit Gulf payouts

By Ed Crooks in New York

BP won a big victory in its battle to limit the cost of compensation for its 2010 oil spill in the Gulf of Mexico after an appeals court called for an injunction to suspend payments to businesses that had not suffered losses as a result of the disaster.

BP has argued that the compensation settlement over the spill that it agreed last year is being misinterpreted to allow businesses that have not suffered any harm to claim for apparent losses.

A majority on a three-judge panel of the Fifth Circuit appeals court ruled that a lower district court should draw up an injunction "tailored so that those who experienced actual injury traceable to loss from the Deepwater Horizon accident continue to receive recovery, but those who did not do not receive their payments until this case is fully heard and decided".

The decision gave BP the suspension of payments it had sought while it fights its battle over the interpretation of the settlement through the courts. It also highlighted the question of whether businesses claiming compensation suffered losses caused by the disaster: an issue that BP has recently put at the centre of its fight to limit its payments.

Lawyers advertising for clients to claim compensation have stoked concerns over the settlement by pointing out that for claimants "there is no need to provide proof that BP caused your loss".

BP has argued that the settlement has been interpreted excessively generously by Patrick Juneau, the court-appointed claims administrator, with the result that more than $500m has already been paid to businesses that suffered losses not related to the spill, or experienced no real loss at all.

Carl Barbier, the judge in the district court who is hearing the civil case over the disaster, on several occasions rejected that argument.

BP appealed against those decisions in the Fifth Circuit, however, and on October 2 that court issued a ruling ordering Judge Barbier to put an injunction in place to stop compensation payments to businesses not affected by the spill.

The judge issued an injunction later that month, but BP felt it was not sufficiently restrictive, and went back to the Fifth Circuit court to seek a stronger ban.

The appeals court ruling on Monday said "the district court erred" by not properly taking into account the question of whether losses were caused by the spill.

Compensation awards for business losses have slowed to a trickle since the October 2 appeals court ruling, according to data published by Mr Juneau's office, but BP warned last week that unless the stronger injunction was granted, it expected payments to pick up again.

BP said in a statement that the Fifth Circuit court had "provided further support for BP's position that continued violation of the settlement agreement's clear terms creates serious constitutional and other legal problems that threaten to invalidate the entire settlement unless corrected".

Lawyers representing plaintiffs seeking compensation for the spill did not immediately respond to the appeal court's decision.

[erric] 03/12/2013 08:14

Its lacklustre because its like Waldorf and Statler on here, only nowhere near as funny.

[hellscream] 02/12/2013 14:41

back to that 450 more like bracke..

[bracke] 29/11/2013 16:10

All vey lack lustre on this thread.

500+ looking like a distant dream.

[bracke] 27/11/2013 16:11

Penycae

"If their turn doesn't come soon, they'll either be counter-trend in any crash, or completely wiped out.!
===============================================================================

Depends how bad the drop is when 'taper' is announced.

Too much sugar is not good for you.

[penycae] 27/11/2013 16:01

bracke - glad you're OK. Leaving a week tomorrow, so around for a few more days. There are some very decent stocks not doing well out of this rally. If their turn doesn't come soon, they'll either be counter-trend in any crash, or completely wiped out.
I'm a big fan of the miners at the moment, but every day they get hammered. Share prices completely out of line with earnings in most cases. I suppose they're not overly concerned with share price when they're clearly profitable, but sooner or later, yield comes into the frame.
HSBA doing badly, which is a surprise. BARC looking up. I'm buying a lot of sugar at the moment - departure from the norm!

[bracke] 27/11/2013 15:37

Good day Penycae

If you read it on a free bb it must be correct.

Santa Rally ! The DOW has been on a 'Santa Rally' since March 2009 and now Santa Yellen has thrown a few more yule logs on the FED QE fire !

I read to-day that the UK 'wonder' growth is due to consumers not business, so we are back in that rut again.

I am keeping head above water but reluctant to buy, other than short term trades.

Have a pleasant holiday and don't let monkey over indulge.

[penycae] 27/11/2013 15:21

bracke- Market will go on rising while I'm away, so don't worry. (I read it on a free bb.)
Leaving Thursday week for nine days, so still time to sell into the Santa rally.
You doing OK?

[penycae] 27/11/2013 13:11

Afternoon all.
Still holding a few of these on the dark side. Thinking of doing something clever, and reversing when the time comes to cover, but the daily just won't let the monkey do it. That 29th October gap up looks very much to have been from the 200. I think that's where we might be heading back to. This would mean covering and going long from around 456. 475 looks to be a given, but I wouldn't enter long there from no position.
Going to take a break from Thursday next week, away from it all, so ideally just like to leave long (unmargined) positions open, with no sb's or cfd's running.

Trade well and prosper Earthlings.......

[glenol] 25/11/2013 19:11

Saudis need to keep oil price up to cover ongoing expenditure.

[bracke] 25/11/2013 10:35

The Judge says on 'yer bike', Iran become 'good boys' and oil price falls.

What chance 500+ now?

Santa will need to have something special in his sack to rescue the share price

[smurfy2001] 24/11/2013 20:30

530p target next then i'm out.

[7monkey] 24/11/2013 20:27

It's a wooden cross for B.P

[7monkey] 24/11/2013 15:42

Judge Barbier Swiftly Drops The Hammer Of Justice On BP
Sunday, November 24

[bracke] 22/11/2013 18:29

7monkey

I suppose I could buy some flipflops for the summer.


optomistic

River Don - That'll be it. If you go there again best wear a mask.

[optomistic] 22/11/2013 16:18

Good you got some company Bracke, I've been asleep for an hour (after effects of the bug) btw no cruise but I did walk near to the River Don in Sheffield last week :-(

[7monkey] 22/11/2013 16:12

Brake :It's time to let your hair down ,and buy some new shoes.