BP (NYSE: BP) announced that it has entered into an administrative agreement with the US Environmental Protection Agency resolving all matters related to the suspension, debarment and statutory disqualification of BP following the Deepwater Horizon accident and oil spill.
Veolia Environment (NYSE: VE) reported operating results that confirmed that the company is on track with its organization streamlining, cost cutting, balance sheet deleveraging and deployment of a new commercial strategy.
Divestments, weaker refining margins, new project depreciation and exploration write-offs and increased exploration spending all served to crimp BP’s (NYSE: BP) top- and bottom-lines for Q4 and full-year 2013.
While banks do still face headwinds such as ongoing litigation, increased regulation and reduced trading profits, these have been so heavily trumpeted in the financial headlines that bank stock prices have over-reacted on the downside.
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