BP annual profits fall by a fifth

Higher oil price boosts BP profit
Oil giant BP announces a 6% rise in profits for the second quarter of 2008, largely thanks to a sharp rise in the price of oil.

Russia police raid BP Moscow base
Russian security services search the Moscow HQ of oil giant BP - the second time the firm has been targeted.

Rising prices boost Shell and BP
Record oil prices help Royal Dutch Shell and BP to report strong profits for the first three months of 2008.

Shares slide in 'cautious' HBOS
HBOS shares fall 10% as profits decline at the bank's retail division and it predicts a "difficult" 2008.

BP to cut jobs after profits fall
BP will cut 5,000 jobs after reporting 'disappointing' profits as margins were squeezed and costs rose.