BP

BP's profits fell in the first quarter as the firm continued to suffer the impact of the Gulf of Mexico oil spill, which has so far cost the oil major $40.9bn.

BP has lauched a $40bn (£24bn) lawsuit against Transocean, the owner of the Deepwater Horizon rig that exploded in the Gulf of Mexico last year.

The final cost to BP from the Gulf of Mexico oil spill disaster could reach $60bn (£37bn), according to fresh analysis from ratings agency Moody's.

Newton's star income manager Tineke Frikkee has moved overweight BP, almost tripling her holding in the oil major in the £2.7bn Higher Income fund since February.

BP ONE YEAR ON

BP is facing calls from some of its biggest shareholders to sell off up to half its assets as part of a radical restructure.

BP has extended the deadline for completing a share swap deal with Russian oil giant Rosneft until 16 May, as reports suggest talks with AAR about the British oil firm buying out its Russian partner in joint venture TNK-BP have "more or less collapsed"....

Standard Life Investments' Ed Legget has moved overweight miners to take advantage of falling share prices across the sector, but has cut oil major BP from his portfolio.

Elissa Bayer of Charles Stanley gives her top tips for stock selection during a testing time for markets

Ex-BP chief executive Tony Hayward is in talks to set up an energy-focused investment fund, the Financial Times reports.