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BP Profit Outperforms Expectations By Almost $1bn

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BP profits outperformed expectations by almost $1 billion in the first quarter of 2013 thanks in part to the high margin nature of new production that came on stream at the end of 2012 and a strong performance from its trading division.

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Senior China regulator targeted in Beijing stock probe

With the wild swings in the country's stock market showing no signs of abating, Beijing's attempt to put a lid on volatility has been ratcheted up a notch, with a senior official at the securities regulator tasked with propping up the stock market being placed under investigation on Wednesday.