middle east

BP's Hayward in Middle East; Investment Rumors Fly

Embattled BP CEO Tony Hayward traveled to Abu Dhabi to meet business partners, with rumors flying that the company is seeking to raise funds to help the company pay for the clean up operation in the Gulf of Mexico. Hayward arrived in the Emirati capital on Tuesday and plans to stay "a couple of days", company spokesman Andrew Gowers told The Associated Press. Gowers declined to comment on whether or not Hayward would be meeting with investment funds.

A Message from Middle East Stock Markets?

Should it matter to U.S. investors that Middle East stock markets are among the worst-performers this year, with many trading at or near 52-week lows? Hard to know for sure, but this is a development that bears watching.