Business 30 March 2026 - 2 April 2026

BP PLC’s New CEO Meg O’Neill Promises Clear Direction as Oil Swings Test Debt Reset
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BP PLC’s New CEO Meg O’Neill Promises Clear Direction as Oil Swings Test Debt Reset

Meg O’Neill became BP’s first external and first female CEO on Wednesday, pledging “clear direction” as the company shifts focus back to oil and gas. BP has suspended share buybacks, is selling assets to meet a $20 billion divestment goal by 2027, and cut renewables spending. The company took $4 billion in impairments in February. Brent crude prices jumped over 7% Thursday after settling at $101.16 a barrel Wednesday.
April 2, 2026
BAE Systems plc Confirmed for £95 Million UK Radar Contract as Britain Moves to Unlock Offshore Wind
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BAE Systems plc Confirmed for £95 Million UK Radar Contract as Britain Moves to Unlock Offshore Wind

Britain has awarded BAE Systems a £95 million contract to supply and integrate new air-defence radar systems under the RAF’s NJORD programme, aiming to protect airspace as offshore wind farms expand. The contract was signed on Feb. 26 after a restricted competition and publicly named on March 31. Installation is expected to begin in early 2029. The government has not disclosed the radar type, citing security concerns.
April 1, 2026
Unilever PLC’s $65 Billion McCormick Deal Draws Union Warning, Splits Investors
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Unilever PLC’s $65 Billion McCormick Deal Draws Union Warning, Splits Investors

Unilever said it will merge its food business with McCormick in a $65 billion deal, shifting brands like Knorr and Hellmann’s into a new company and narrowing its focus to household and personal care. Unilever shares fell 7% after the news, while McCormick dropped 5%. The deal, using a Reverse Morris Trust, is expected to close by mid-2027. Unilever’s European Works Council warned of possible strikes over job uncertainty.
April 1, 2026
Glencore Extends South Africa Smelter Job-Cut Deadline to April 7 in Eskom Power Talks
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Glencore Extends South Africa Smelter Job-Cut Deadline to April 7 in Eskom Power Talks

Glencore-Merafe Chrome Venture extended its retrenchment consultation deadline to April 7 as Eskom requested more time to finalize a discounted power deal at 62 South African cents per kWh. The venture warned job cuts affecting up to 1,500 workers remain likely if tariff terms are not improved. Samancor Chrome, also offered the lower rate, resumed layoff plans that could impact 2,400 employees. Merafe reported a 63% drop in 2025 ferrochrome output.
April 1, 2026
BP PLC CEO Meg O’Neill Promises Consistency as Debt Reset Faces First Test (Reuters)
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BP PLC CEO Meg O’Neill Promises Consistency as Debt Reset Faces First Test (Reuters)

Meg O’Neill, BP’s first external and first female CEO, pledged “clear direction and consistency” as she took over, promising continuity in oil and gas. BP halted share buybacks in February to cut debt and fund projects, with net debt at $22 billion and next results due April 28. O’Neill inherits a weaker balance sheet than rivals. Asset sales have reached $11 billion toward a $20 billion target by 2027.
April 1, 2026
Oracle Starts Thousands of Layoffs as $50 Billion AI Push Lifts Shares
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Oracle Starts Thousands of Layoffs as $50 Billion AI Push Lifts Shares

Oracle began laying off thousands of employees Tuesday, with internal emails telling some staff their last day was immediate, according to CNBC and Business Insider. The cuts come as Oracle maintains a $50 billion data center spending plan and reported negative free cash flow of $24.7 billion at February’s end. Shares rose 4.7% to $145.28 in midday trading. Oracle declined to comment.
March 31, 2026
London Stock Exchange Group taps Dell for private cloud as investors seek proof on AI strategy
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London Stock Exchange Group taps Dell for private cloud as investors seek proof on AI strategy

London Stock Exchange Group has signed a multi-year deal with Dell Technologies to build a private cloud platform for parts of its data and markets operations. The move follows investor pressure for clearer technology benefits after LSEG’s Microsoft partnership and record buyback. LSEG reported 7.1% income growth for 2025 and announced a further £3 billion buyback in February.
March 31, 2026
British American Tobacco Deepens Charlotte’s Web Bet in $75 Million CBD Deal
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British American Tobacco Deepens Charlotte’s Web Bet in $75 Million CBD Deal

British American Tobacco plans to raise its stake in Charlotte’s Web to about 40% by converting a C$75.3 million debenture and adding $10 million in cash, according to U.S. filings. The deal would erase $65 million of Charlotte’s Web debt and give BAT two board seats if approved by shareholders and the Toronto Stock Exchange. Charlotte’s Web posted a $29.8 million net loss before tax in 2025.
March 31, 2026
BP PLC Loses EV Charging Chief Ahead of Meg O’Neill Takeover as Oil Pivot Deepens
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BP PLC Loses EV Charging Chief Ahead of Meg O’Neill Takeover as Oil Pivot Deepens

Martin Thomsen, head of BP’s global EV charging business, has left to join Rolls-Royce as chief procurement and supply chain officer. His departure comes days before Meg O’Neill becomes BP’s new CEO, as the company shifts investment from renewables and EV charging toward oil and gas. BP had about 40,000 charging points and recently cut EV spending below $500 million annually. Brent crude neared $115 a barrel Tuesday.
March 31, 2026
Northern Star Resources CEO Converts A$7 Million in Rights Into Shares Ahead of April Quarterly
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Northern Star Resources CEO Converts A$7 Million in Rights Into Shares Ahead of April Quarterly

Northern Star Resources said CEO Stuart Tonkin converted 380,837 vested performance rights into ordinary shares worth about A$7 million, according to late-Monday filings. The conversion came from the company’s incentive scheme, not an on-market purchase. Northern Star shares closed up 5.18% at A$19.51. Investors await the March-quarter report on April 22 after the miner warned of challenges meeting FY26 output targets.
March 30, 2026
Haleon shares rise after 8.9 million-share buyback ahead of April update
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Haleon shares rise after 8.9 million-share buyback ahead of April update

Haleon bought back 8.94 million shares for cancellation under its £500 million repurchase plan, bringing total buybacks to about 19.5 million shares since March. Shares rose 2.53% to 376.2 pence in delayed London trading. UBS and Citi expect first-quarter organic sales growth of about 2.2%, below consensus, after weak respiratory demand. Haleon’s next trading update is due April 29.
March 30, 2026
Vodafone Shares Rise After Latest Buyback Filing as Germany Recovery Stays in Focus
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Vodafone Shares Rise After Latest Buyback Filing as Germany Recovery Stays in Focus

Vodafone bought back 2.7 million shares at an average 110.93 pence under its 500 million euro programme, bringing treasury holdings to 1.234 billion shares. The stock closed Monday up 2.1% at 112.60 pence in London. Germany and the UK made up 55% of group service revenue last quarter. Vodafone’s current buyback began in February and follows 3.5 billion euros of repurchases since May 2024.
March 30, 2026
Compass Group Gets BNP Paribas Upgrade Ahead of Dollar Switch on LSE
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Compass Group Gets BNP Paribas Upgrade Ahead of Dollar Switch on LSE

BNP Paribas upgraded Compass Group to “neutral” from “underperform” but cut its target price to 2,150 pence ahead of the company’s April 1 switch to U.S. dollar share trading. Compass shares closed at 2,038 pence on Friday after a February selloff linked to concerns over AI and GLP-1 drugs affecting demand. The group reported £46.07 billion in 2025 revenue and completed a $1.7 billion Vermaat acquisition.
March 30, 2026
Toyota ‘Will Not Survive’ Without Change, Koji Sato Warns as China Pressure Builds
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Toyota ‘Will Not Survive’ Without Change, Koji Sato Warns as China Pressure Builds

Toyota CEO Koji Sato warned suppliers the company may not survive without major changes, citing competition from Chinese automakers and tariff pressures. Sato’s remarks came days before Kenta Kon takes over as CEO on April 1. February data showed Toyota’s global output fell 3.9% and sales dropped 3.3%, with China sales down 13.9%. Despite record 2025 sales, leadership urged tighter cost control and faster adaptation.
March 30, 2026
BAE Systems plc buyback filing lands as defence orders pile up from the U.S. to Europe
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BAE Systems plc buyback filing lands as defence orders pile up from the U.S. to Europe

BAE Systems bought back 505,128 shares for cancellation between March 23 and 27, paying between 2,052 and 2,202 pence per share. The move comes as the Pentagon pushes BAE and others to increase munitions output, and U.S. officials urge defence firms to prioritise production over shareholder returns. BAE’s order backlog reached a record £83.6 billion in February. Recent contracts include fighter and naval deals with Britain, Turkey, and Norway.
March 30, 2026
Unilever PLC Food Business Talks With McCormick Enter Critical Week Ahead of Earnings
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Unilever PLC Food Business Talks With McCormick Enter Critical Week Ahead of Earnings

Unilever shares opened at 4,500 pence in London as talks continue with McCormick over a possible Foods unit deal that could leave Unilever shareholders with a majority stake. The business, which includes Knorr and Hellmann’s, generated about €2.9 billion in operating profit last year. Barclays values the Foods arm at up to €31 billion including debt. McCormick will report first-quarter results March 31.
March 30, 2026
BP PLC Faces Crucial Week as Oil Rally Boosts Outlook Before Meg O’Neill Takes Charge
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BP PLC Faces Crucial Week as Oil Rally Boosts Outlook Before Meg O’Neill Takes Charge

BP prepares for Meg O’Neill to take over as CEO on April 1, with Brent crude above $115 a barrel and set for its largest monthly gain since 1988. BP recently announced the sale of its Gelsenkirchen refinery, raised its cost-cutting target, and pushed divestments past $11 billion. O’Neill also faces pressure from investors demanding a climate resolution by April 1. BP’s Middle East operations account for about 22% of its 2025 output.
March 30, 2026
HSBC Holdings Plc CEO Doubles Down on AI Overhaul as Cost-Cut Drive Sharpens
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HSBC Holdings Plc CEO Doubles Down on AI Overhaul as Cost-Cut Drive Sharpens

HSBC named David Rice as its first chief AI officer, effective April 1, as CEO Georges Elhedery pushes an AI-led overhaul. The bank may cut up to 20,000 jobs, mostly in non-client roles, according to Bloomberg. HSBC reported a 7% drop in 2025 pretax profit to $29.9 billion but raised its profitability target. The lender also issued $130 million in senior unsecured notes due 2036.
March 30, 2026
Glencore Copper Smelter Rescue Takes Shape as Canada, Quebec Move to Avert Shutdown
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Glencore Copper Smelter Rescue Takes Shape as Canada, Quebec Move to Avert Shutdown

Canada may provide about C$150 million to keep Glencore’s Horne copper smelter open as Quebec considers delaying stricter arsenic limits to 2029, sources told Bloomberg. The site accounts for 16% of regional smelting capacity and supports 3,200 jobs. Glencore froze spending in February, citing regulatory uncertainty. The plant faces a class action over emissions and stricter provincial air standards.
March 30, 2026
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Stock Market Today

  • Flight Centre Travel Group (FLT) Shares: Why Investors Favor Consumer Discretionary Stocks
    May 24, 2026, 7:51 PM EDT. The Flight Centre Travel Group Ltd (ASX:FLT) share price has dropped 33.2% since early 2025, yet investors are watching closely. FLT operates globally in the travel sector, offering personalized services that distinguish it from online travel agencies. The ASX Consumer Discretionary sector, which includes FLT, has underperformed the broader market with a 0.62% annual return over five years, against 4.07% for the ASX 200. Typically, these stocks perform best when interest rates are low, but FLT has impressively grown revenue by 89.8% annually over three years amid higher rates. FLT pays a 4.0% dividend yield, though its shares trade at a price-to-sales ratio of 0.76x, well below its 5-year average of 3.42x, indicating a possible undervaluation based on historical standards.