New disclosures have revealed a complex cascade of deep-sea equipment failures and procedural problems in the BP oil rig explosion and massive spill fouling the waters of the Gulf of Mexico and threatening industry and wildlife.

Toyota officials claimed they saved the company $100m (€73m) by successfully negotiating with the US government on a limited recall of floor mats in some Toyota and Lexus vehicles, according to new documents.

Jubilant Democrats prepared to elect Nancy Pelosi as the first woman to run the US House of Representatives as the party takes control of both chambers of Congress for the first time in 12 years.

BP said it will keep the western half of its Prudhoe Bay oil field online, enabling the company to get the field up to half its prior output despite pipeline corrosion.

Andrew Fastow - former chief financial officer at Enron - has refused to testify before Congress and pled the Fifth Amendment.

Former Enron chairman Kenneth Lay pulled out of this week’s scheduled congressional testimony as members of Congress suggested he and other company executives engaged in widespread criminality.

Kenneth Lay, the embattled chairman and chief executive officer of Enron has resigned from the bankrupt energy company but will remain on the company’s board.

Bankrupt US energy giant, Enron, is investigating the reported destruction of documents that allegedly took place at its Houston headquarters after the federal government began investigating the company, a lawyer for the company said.

The Arthur Andersen auditor fired for destroying Enron documents says he was just following the advice of the firm's lawyers.

The auditor sacked following the collapse of Enron denies any wrongdoing.