BP earnings

BP has benefited from high oil prices and announced it would reinstate its dividend. However, while its fourth-quarter profit was up from a year earlier, the oil giant reported a full-year loss.

Oil giant BP (BP) announced Tuesday that it had an operating performance that helped it become profitable again in 2010's third quarter, even though the company took an additional pretax charge of $7.7 billion related to the Deepwater Horizon oil spill. The U.K.-based oil company reported that...

Blue-chip energy giants ExxonMobil and Chevron report earnings this week, and if analysts' forecasts are right, both should post sharply higher revenues and profits, helped by lower costs and higher oil prices.

Here is news from the business world and other money matters to watch out for Tuesday: BP Posts $17B Loss: Petroleum-giant BP (BP) reported earlier today that it lost $17 billion in the second quarter after accounting for more than $32 billion in charges related to the Gulf oil spill. The...

Faced with mounting costs following the biggest oil spill in U.S. history, oil giant BP says it recorded a $17 billion loss in the second quarter. The company also confirmed that embattled CEO Tony Hayward will be replaced by Bob Dudley, who has been in charge of BP's cleanup effort since June 23.

Investors got an early jump on BP's earnings announcement, sending the stock about 4% higher in Monday in a positive reaction to the oil giant's anticipated ouster of CEO Tony Hayward in favor of Gulf cleanup czar Bob Dudley.