BP Struggles to Restore Investor Confidence as Profit, Production Decline

(Bloomberg) -- BP Plc replaced its chief executive officer, settled claims from a deadly Texas refinery blast and cleaned up leaks in Alaskan oil pipelines during the past year. Reviving profit and gaining investor confidence may take longer.

Europe's second-largest oil company probably will report tomorrow that first-quarter profit dropped and production fell for the seventh consecutive period. Shares of London-based BP slid 20 percent in a year, lagging behind Exxon Mobil Corp.'s 24 percent gain and a 6.4 percent increase in the FTSE 100 Index.


Read more at Bloomberg Energy News

South Korean Stocks Advance to Record; Samsung and Hyundai Heavy Climb

(Bloomberg) -- South Korea's Kospi index advanced 14.01, or 0.9 percent, to 1547.09 as of 9:02 a.m. in Seoul. The Kosdaq added 1 percent to 698.39.

Samsung Electronics Co. and Hyundai Heavy Industries Co. led gains.


Read more at Bloomberg Stocks News

LaSalle would plug Chicago gap for Bank of America

(Reuters) - Barclays Plc could announce plans to sell LaSalle to Bank of America as early as Monday, as part of a deal in which Barclays would take over Dutch bank ABN AMRO , sources familiar with the situation said.

ABN AMRO's LaSalle, which analysts have said could be worth between $18 billion and $23 billion, has long been viewed as a target for Bank of America, which has a relatively small market share in the Chicago area.


Read more at Reuters.com Mergers News

U.S. Gasoline Pump Price Rises to $2.87 a Gallon, Lundberg's Survey Shows

(Bloomberg) -- U.S. gasoline at the pump rose 8 cents during the past two weeks to an average $2.87 a gallon, the highest price since Aug. 25, Trilby Lundberg said, citing her survey of 7,000 filling stations nationwide.

Wholesale gasoline futures traded in New York rose above $2.19 a gallon on April 12, the highest since August, as refinery shutdowns for repairs reduced inventories. Demand for the motor fuel is strengthening from year-earlier levels.


Read more at Bloomberg Energy News

UPDATE 2-Barclays deal for ABN looms; LaSalle may be sold

(Reuters) - LONDON, April 22 - Barclays Plc is likely to unveil an agreed upon deal to take over Dutch bank ABN AMRO as early as Monday, sources familiar with the situation said, just as Royal Bank of Scotland moves to simplify a possible counter offer.

Barclays has been in exclusive talks to buy ABN for more than a month. The deadline for those talks ran out on Friday, and sources said talks continued over the weekend and may be confirmed early on Monday.


Read more at Reuters.com Mergers News

Gold May Rise for 8th Week as Asia Growth Spurs Demand for Inflation Hedge

(Bloomberg) -- Gold may rise for an eighth straight week as economic growth in Asia boosts demand for the precious metal as a hedge against inflation.

Fifteen of the 30 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on April 19 and April 20 advised buying gold, which rose 0.9 percent to $695.80 an ounce last week on the Comex division of the New York Mercantile Exchange. Seven said to sell and eight were neutral.


Read more at Bloomberg Commodities News

Singapore's Olam says to buy U.S. peanut firm

(Reuters) - Olam said the purchase will allow it to expand into the U.S. peanut processing business.




Read more at Reuters.com Mergers News