BP Suspends Share Buyback Amid Overhaul

BP's previous buyback was $750 million, reduced from $1.75 billion in April last year. - arnd wiegmann/Reuters BP suspended its share-buyback program and said it would reduce spending this year, part of a broader plan by the British energy giant to overhaul its business. The London-based company is in the early stages of a turnaround aimed at bringing the business back to its oil-and-gas roots after an ill-timed move into renewables that left it the least profitable of the major oil companies. Most Rea ...