BP has not paid its chief executive a bonus in the wake of the Gulf of Mexico oil spill, its annual report revealed today, but two senior directors will receive combined payouts worth nearly £700,000 (€817,117) on top of their regular salaries.

Oil giant BP today signalled it would press on with a controversial Canadian tar sands project despite facing a showdown with environmental campaigners and shareholders.

Oil giant BP faces a showdown with environmental campaigners over controversial Canadian oil sand projects when it holds its annual shareholder meeting today.

Analysts say the Bank of England will almost certainly cut interest rates within weeks.