July 27th, 2010
06:25 AM ET

World update: BP posts massive $17.2 billion loss

An update from London on some of the international stories we expect to develop on Tuesday:

BP losses - BP posted a massive quarterly loss of $17.2 billion Tuesday due to costs stemming from the Gulf of Mexico oil disaster. BP said it took a pretax charge of $32.2 billion in the quarter related to the oil spill, the worst in U.S. history. That charge includes the $20 billion fund the company agreed to set up in June to cover damages related to the spill.

Serbia extradition - A London court is expected to decide Tuesday whether former Bosnian Vice President Ejup Ganic should be extradited to Belgrade after spending four months under house arrest in London. He is wanted in Serbia for conspiracy to murder in breach of the Geneva Conventions.

Catholic report - The National Catholic Safeguarding Commission releases its annual report on Tuesday. The commission is the independent body that sets the strategic direction of the Church's safeguarding policies for children and vulnerable adults.

Iran sanctions - Iran was defiant Tuesday after the European Union approved new sanctions against the country, saying the measures are "ineffective and unconstructive."

India and Myanmar - India has given a red-carpet welcome to the top leader of Myanmar's military junta, currently on a five-day visit aimed at strengthening diplomatic and economic ties between the neighboring countries.

London Olympics - Tuesday marks two years to go until the London 2012 Olympics, the start of what organizing committee chief Sebastian Coe calls "the killing zone" - the final stretch of an 800-meter race where you can see the finish line but still have to work to get there.

soundoff (11 Responses)
  1. BreakingNewsBlog.us

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    The Economic Times: "BP accused of trying to silence scientists on spill: Report"
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    bit.ly/a75RKT
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    has BP "supported" also the Press???????
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    WHY all the Press STILL don't talk about the BP tool able to stop the oil spill in the early days of May????????
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    http://ireport.cnn.com/docs/DOC-472981
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    July 27, 2010 at 9:07 am | Report abuse |
    • qwerasdf

      spammer named BreakingNewsBlog whose blog features:

      Zero science (CHECK)
      Zero math (CHECK)
      Zero calculations (CHECK)
      Zero facts (CHECK)
      Zero research (CHECK)
      5 year old imagination with a crayon (CHECK)
      No education (CHECK)
      Poor English (CHECK)
      Can't spell Oxygen (CHECK)
      Crappy idea that BP, US Gov, any government, any company won't take (CHECK)
      Ugly website (CHECK)
      Spam (CHECK)
      Someone who doesn't know how to skip lines and puts idiotic periods (CHECK)

      you are a complete joke. Get an education first.

      And we all know you are a joke::
      Marano, Gaetano
      Via Ambrogio Arabia 11-D
      Cosenza, CS 87100
      Italy
      +39.3296080801

      For the record I'm not defending BP. I just think BreakingNews is an idiot. So does everyone else.

      Early message for Breaking News:

      hey breaking news, you're a fool.

      1) I don't work for BP.
      2) I do not own BP stock or stock options
      3) I believe BP is fully at fault.

      You can continue to call me qwerasdf-BP guy all you want because no one even believes you. I already told you I'm NOT defending BP and I don't condone their mistakes. I believe BP needs to take full responsibility. To answer your stupid question, I do not use Photoshop "for my job." However, as a photographer, I do occasionally use Photoshop, but not for the purpose of photographic alterations.

      Why don't you stop posting your 5-year old ideas and learn to speak real science and throw out real facts. You're as bad as the 9/11 conspiracy theorists.

      July 27, 2010 at 9:36 pm | Report abuse |
  2. BreakingNewsBlog.us

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    has been BP deliberately KILLED from its inside???
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    as you can read in my iReport (linked below) BP has had a tool to easily, quickly and cheaply STOP the oil spill from the EARLY DAYS of May:
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    http://ireport.cnn.com/docs/DOC-472981
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    July 27, 2010 at 9:20 am | Report abuse |
    • BreakingNewsBlog.us

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      but they haven't used it, leaving this giant disaster to happen for TWO MORE MONTHS !!!
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      July 27, 2010 at 9:23 am | Report abuse |
    • BreakingNewsBlog.us

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      so, "could" have "someone" inside BP deliberately done that
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      July 27, 2010 at 9:24 am | Report abuse |
    • BreakingNewsBlog.us

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      but they haven't used it, leaving this giant disaster to happen for TWO MORE MONTHS !!!
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      so, "could" have "someone" inside BP deliberately done that
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      to see the company's value to FALL very much and very quickly, to take over the company or sell it to another company for a few cents price???
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      will, the Press, investigate on this hypothesis???
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      July 27, 2010 at 9:31 am | Report abuse |
  3. BreakingNewsBlog.us

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    to see the company's value to FALL very much and very quickly, to take over the company
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    July 27, 2010 at 9:25 am | Report abuse |
  4. BreakingNewsBlog.us

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    or sell it to another company for a few cents price???
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    will, the Press, investigate on this hypothesis???
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    July 27, 2010 at 9:28 am | Report abuse |
  5. BreakingNewsBlog.us

    Somebody please help me....I am loosing all control of myself.............I am scaring myself.....................................

    July 27, 2010 at 1:57 pm | Report abuse |
    • BreakingNewsBlog.us

      clearly, the last post is just a FAKE of the BP's PR-guy

      July 27, 2010 at 3:46 pm | Report abuse |
  6. Wendy

    I totally cannot believe that sob Tony Hayward is stepping down, to the tune of a reported 1.6 million dollars. Steppping down, or fired due to BP's losses? Hayward is a coward, a liar, and most importantly, a criminal. He was in charge of a company that destroyed a good portion of the eastern US–so far. Any other criminal, albeit an arsonist, someone caught polluting or littering–even litterer's get fines. And this guy gets what? Over a million and a half dollars reward? BP-wake up, this guy killed BP, and half of the eastern US–wildlife, people, people's jobs-he needs to be prosecuted.
    He needs to give that 1.8 million to the little people, as he says, to help get a portion of their lives back. May you burn, Haward Coward.

    July 27, 2010 at 6:44 pm | Report abuse |