Morning Wrap: today's top business stories

News stories from around the web.

New Statesman


Sinopec buys into Apache’s Egypt venture (FT)

Sinopec is to spend $3.1bn on a 33 per cent stake in the Egyptian operations of Apache, the US exploration and production company, in the latest sign of Chinese companies’ higher tolerance for political risk in resource-rich countries.

BP slams Louisiana amid oil spill recriminations (FT)

BP has made an outspoken verbal attack on the governor and other officials of the state of Louisiana over their recent comments about the 2010 oil spill in the Gulf of Mexico, and has been met by an equally stinging response from the state.

British Chambers of Commerce: Recovery gaining momentum (BBC)

The British Chambers of Commerce has sharply upped its 2013 growth forecast, saying the economy is gaining momentum.

The business lobby group now expects 1.3% growth this year, up from 0.9%. Its forecasts for the next two years were upped to 2.2% and 2.5%.

India's Prime Minister concerned about rupee's fall (BBC)

The falling value of the Indian rupee is "a matter of concern", Indian Prime Minister Manmohan Singh has told parliament.

The rupee hit a record low against the dollar on Wednesday and has fallen more than 20% this year.

Finance chief Pierre Wauthier's suicide note implicates ex-chairman Josef Ackermann, says Zurich Insurance (Telegraph)

The former chief financial officer of Zurich Insurance left a suicide note implicating the group's then chairman Josef Ackermann in his death, the insurer said this morning.

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