Sinking BP shares ignite trans-Atlantic

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Posted: Jun 10, 2010 12:30 PM
Updated: Jun 10, 2010 12:40 PM
Source: Associated Press

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Topics: British, President Barack Obama, BP, Gulf of Mexico, stock, London, Britons, Prime Minister David Cameron, Louisiana, oil spill, Deepwater Horizon, WBRZ

British lawmakers are pushing the country's new prime minister to ask President Barack Obama to tone down his criticism of BP.

As U.S. officials threaten to have the company spend billions more for the Gulf of Mexico disaster, the value of the company's stock has plunged in London.

And that's hurt the retirement savings of millions of Britons.

The slide in the stock price since April has cut BP's market value nearly in half, costing it the spot as Britain's biggest company.

Some are worried it could become a takeover target for upstart firms in Asia.

BP said today there was no reason for the stock drop, stressing its strong finances.

Because of the rising hysteria, Prime Minister David Cameron is expected to discuss the issue with Obama on a routine scheduled telephone call over the weekend.

In Afghanistan today, Cameron said he understands the "frustration" of the U.S. government because the spill is a "catastrophe for the environment."

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