Thursday, July 15, 2010

Obama visit 'helps put Holland on map'

CProfit Rises 76% on cut in Bad-Loan Reserve-JPMorgan

JPMorgan Chase & Co., the second- biggest U.S. bank by assets, said profit rose 76 percent, more than analysts estimated, as a reduction in provisions for soured mortgages and credit-card loans buoyed results.

Lockerbie bomber release

Thursday BP confirmed that it had lobbied the British government over a prisoner transfer agreement with Libya in late 2007. Before the release of Lockerbie bomber Abdel Baset al-Megrahi.BP signed a $900 million exploration agreement with Libya in May 2007, the same month that Britain and Libya inked a memorandum of understanding that paved the way for al-Megrahi's release from a Scottish prison.BP insisted Thursday that it was not involved in the decision to free the bomber. Al-Megrahi's release outraged many relatives of the victims and led to calls in the U.S. for a boycott of Scottish goods.

Developments in the Gulf of Mexico oil spill

BP starts a crucial test on its ruptured oil well in the Gulf of Mexico that it hopes will lead to halting the flow of crude that has polluted the sea and shoreline since April.