£6bn wiped off stock market value of oil company as investors react to losses and increasing Deepwater Horizon liablitiesBP is to cut another 7000 jobs after reporting an annual loss of $6.5bn (£4.5bn),the worst in its history.
Shares in the oil company dived 9% to 334p, wiping £6bn from the stock market value of the commerce, or as the City digested the worse-than-expected results.
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Source: theguardian.com