Tony Hayward becomes Glencore Xstrata interim chairman (FT)
Tony Hayward, the former BP chief executive who resigned after the Gulf of Mexico oil spill, has made an extraordinary return to the top of British business by becoming interim chairman of natural resources group Glencore Xstrata.
The appointment follows the ousting of Sir John Bond in a shareholder coup that saw 80.85 per cent of Glencore Xstrata shareholders vote against the reappointment of the City of London veteran as a director at the group’s annual meeting.
Citi bans forex traders from using Bloomberg internal chat groups (FT)
Citigroup is banning traders in its foreign exchange division from accessing internal chat groups on their Bloomberg terminals, in the latest sign of concern by banks over online security issues.
Google accused of devious and unethical tax behaviour (FT)
A leading MP accused Google of “devious, calculating and unethical” behaviour after a two-hour hearing in which the company vigorously denied trying to avoid tax by disguising the real nature of its UK business.
BP to seek Cameron's help as oil spill costs escalate (BBC)
BP wants Prime Minister David Cameron to intervene over the escalating cost of compensating US companies for the Gulf of Mexico oil disaster in 2010.
BBC business editor Robert Peston has learned that BP feels its financial recovery is in jeopardy because the compensation system is being abused.
Royal Bank of Scotland to cut 1,400 jobs in UK (Reuters)
Royal Bank of Scotland will cut 1,400 jobs over the next two years in a restructuring of its retail head office in Britain, the part-nationalised bank said on Thursday.
In a statement, the chief executive of RBS's UK retail business, Ross McEwan, said the bank would try to avoid compulsory redundancies by redeploying staff where possible.