The $1.4bn (£1.1bn) profit, on the replacement cost measure, compared with a $485m loss a year earlier. Oil prices have been about 35% higher in the first three months of 2017 compared with a year earlier, boosting revenue from BP’s core oil and gas production division. BP chief executive Bob Dudley said: “Our year has started well.” Source BBC
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Dealing a serious blow to President Donald Trump’s agenda, the Senate early Friday rejected a measure to repeal parts of former President Barack Obama’s health care law after a night of high suspense in the U.S. Capitol. Source:France24
Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. Source Bloomberg
Hungary has issued yuan-denominated “panda” bonds, targeted at the domestic Chinese market, for the value of RMB 1 bln with three-year maturity and a 4.85% coupon, the Government Debt Management Agency (ÁKK) said today, Hungarian news agency MTI reported. Source Budapest Business Journal