The oil giant BP is holding a board meeting in India this week as it explores more opportunities in the country to boost its stagnant oil and gas output. India, the world’s third-biggest oil importer, is looking to increase production from its fields. The BP board met with Indian oil minister Hardeep Singh Puri and expressed interest in growing their partnership with Reliance Industries. In the stock market, UK and European shares fell as the initial boost from China’s stimulus faded. The union representing 33,000 striking Boeing workers rejected the company’s 30% pay offer, saying negotiations must continue. Additionally, activist investor Nelson Peltz’s Trian Partners took a seat on Rentokil Initial’s board after the company issued a profit warning. The Co-op Group, owned by members, returned to profit on the back of growth in its quick commerce business and membership numbers. Lastly, the dollar weakened as Chinese monetary stimulus impacted commodity markets, while emerging market currencies saw a lift. Meanwhile, British online property portal Rightmove rejected a £6.1bn takeover offer from Rupert Murdoch’s REA Group. Chinese stocks extended their rally for a second day on the back of Beijing’s stimulus measures.
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Rightmove rejects £6.1 billion offer from Murdoch’s REA; Boeing employees refuse 30% pay increase- live updates on Business
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