The India-focused FTSE 100 mining group is simplifying itself. There are sound commercial gains to be made in the process, but doubts linger about whether the assets are being transferred at equitable values. To get the deal done, Indian investors may need a bit more of the pie.
Oil & Gas
A minority partner’s deal with the U.S. government is a promising sign ahead of a critical civil trial opening on Feb. 27. Extreme financial penalties look priced into BP stock whatever the verdict. So too is a big management discount. There’s lots of upside if BP isn’t thwacked, and its board restores credibility.