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Good morning. BP has introduced plans to make share buybacks of $2.5bn this quarter after surging oil costs helped its money flows surge.
The power big mentioned booming costs had helped it offset a $25.5bn cost incurred after exiting its stake in Russian producer Rosneft. It posted a first-quarter revenue of $6.2bn, the very best in a decade.
5 issues to begin your day
1) Brussels accuses Apple of competitors breach over contactless funds The iPhone maker has been accused of breaking competitors legislation by limiting rivals’ capacity to create contactless cost apps.
2) Why London’s Russian restaurateurs worry a backlash over Ukraine Eating hotspots that when boasted of their hyperlinks to Putin at the moment are talking out towards invasion.
3) London is battered by the rise of make money working from home Capital lags behind different cities as commuters shun the workplace.
4) Britain turns to South Korea in scramble to spice up nuclear energy Kwasi Kwarteng in talks over new technology of reactors as UK seeks stronger power safety
5) Julian Jessop: Brexit is to not blame for the surge in inflation and hovering meals costs Consultants are relying extra on predictions and fashions than exhausting information in latest commentary on Britain.
What occurred in a single day
Asia shares largely fell on Tuesday as markets brace for a pointy US rate of interest hike. Hong Kong returned from a protracted weekend break to steer the retreat, shedding greater than 2pc at one level. Sydney additionally fell forward of an anticipated rate of interest hike by the Reserve Financial institution of Australia later within the day, whereas Taipei and Wellington have been additionally down. Seoul edged up barely, whereas Tokyo, Shanghai, Mumbai, Singapore and Jakarta have been closed.
Arising as we speak
Full-year outcomes: Card manufacturing unit
Interims: BP
Economics: Manufacturing PMI, BRC store worth index (UK); unemployment charge (EU); manufacturing unit orders (US)
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