oil

The UK's main inflation rate has remained at 2.7% for the third month in a row, broadly in line with economists' expectations, despite steep rises in energy bills.

US and Asian equity markets rallied overnight as talk of US politicians reaching a deal to avert the fiscal cliff helped sooth investor worries.

Oil giant BP is planning to spend up to £3.7bn in a share buyback, in an attempt to breathe new life into its flagging share price, according to reports.

BP has agreed to pay $4.5bn to settle charges related to the 2010 Deepwater Horizon disaster.

BP has raised its dividend by 12.5% to 9c a share, but reported a fall in profits in the third quarter.

One of the key positive aspects of equity investment is that you can buy and sell stakes in small and larger companies, safe in the knowledge prospective and existing owners of a business are being treated equally.

BP's shareholders have called for a cash payout to be made if the sale of its 50% stake in TNK-BP goes through, as talk it is poised to offload its holding imminently picks up.

Oil prices dropped yesterday as economic data from China and Europe renewed concerns about a slowdown in global demand.

BP has moved to offload a chunk of its oil and gas fields in the Gulf of Mexico in a deal worth $5.5bn (£3.4bn), as the oil major continues to raise cash to cover the cost of the catastrophe in 2010.

Shares in Royal Dutch Shell fell almost 4% this morning as the weak oil price and North American gas prices dragged on profits in the second quarter.