Slow and Steady Wins the Race!
It is 1:30 universal time and here is the news in Special English.
BP has confirmed that Tony Hayward will resign as head of the company. Mr. Hayward leaves the position of Chief Executive Officer following criticism of his actions after the oil spill in the Gulf of Mexico. His replacement Robert Dudley will take office on October 1st. Mr. Dudley will be the first American to head the company. BP also announced record losses for the past 3 months. It reported Tuesday that the Gulf of Mexico oil spill caused the company to lose 17 billion dollars from April through June this year. The company said it will sell 30 billion dollars worth of BP's possessions over the next 18 months to pay for the costs of the spill.
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