Business news live: FTSE 100 latest, Diageo profits and UK strikes Mexico pork deal
BP confirms biggest oil and gas field discovery in 25 years
Energy giant BP has announced its biggest oil and gas field discovery in 25 years after a drilling off the coast of Brazil.
The company’s vice president for oil production, Gordon Birrell, said it was a “significant discovery” and the largest since 1999, when a giant gasfield in the Caspian Sea was discovered. It is expected to contain a mix of gas and oil as well as condensate, which is a liquid form of natural gas.
The size of the field in the Bumerangue prospect is more than 300 square kilometres – about three times the size of central Paris.
Karl Matchett5 August 2025 07:15
Stock markets rose on Monday – Diageo tops FTSE 100 firms reporting today
After steep falls on Friday, stock markets around Europe rose once more yesterday.
The FTSE 100 climbed around 0.4 per cent, led by Lloyds rising having learned they’d need to pay out a lower maximum amount than expected over the car finance mis-selling scandal.
Today the earnings season continues with spirits and beer maker Diageo, which owns Guinness, Smirnoff and other brands, reporting their latest profits.
Diageo shares are down around 29 per cent in 2025 so far and saw the unexpected exit of their CEO last month.
Karl Matchett5 August 2025 07:07
Business news latest – Tuesday 5 August
Good morning and welcome to our daily business news live blog.
Today as usual we’ll bring you the latest from company news, stock market updates and everything surrounding your money.
More to come on the car finance scandal compensation too no doubt.
Karl Matchett5 August 2025 06:58
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