London

Harvey Pitt, chairman of the Securities and Exchange Commission (SEC), told London’s BBC radio in an interview Thursday that he expects “this week and the following weeks” to see “more high-profile indictments of people who abused their public trust.”

Harvey Pitt, chairman of the Securities and Exchange Commission (SEC), told London’s BBC radio in an interview Thursday that he expects “this week and the following weeks” to see “more high-profile indictments of people who abused their public trust.”

London-based BP Plc, considered the third largest energy company in the world, joined its peers in reporting a third quarter profit slide, the first in more than two years, with earnings down 20% because of the decline in oil and gas prices. The global giant said it also does not expect to see high returns into the fourth quarter. Earnings were $3.05 billion, or 14 cents a share, down from $3.08 billion, or 17 cents a share for the same period in 2000. BP measures its earnings on a replacement cost basis, which excludes one-time items and goodwill costs.

London-based BP Plc, considered the third largest energy company in the world, joined its peers in reporting a third quarter profit slide, the first in more than two years, with earnings down 20% because of the decline in oil and gas prices. The global giant said it also does not expect to see high returns into the fourth quarter. Earnings were $3.05 billion, or 14 cents a share, down from $3.08 billion, or 17 cents a share for the same period in 2000. BP measures its earnings on a replacement cost basis, which excludes one-time items and goodwill costs.

Shell Trading unveiled its mega-energy electronic tradingplatform in London this week, offering the first heavy dutycompetition for Enron Corp.’s industry-leading EnronOnline.

The board of directors for the London-based International Petroleum Exchange urged its members last Wednesday to accept a buy-out offer from five outside investors including British Gas, Distrigas, Enron, Nord Pool and OM Group, rather than accept a proposed merger bid from the New York Mercantile Exchange. The 475 members of the IPE will vote on the sale at an extraordinary general meeting held on July 30. The board threatened to resign if the outside investor sale failed.

The board of directors for the London-based InternationalPetroleum Exchange urged its members Wednesday to accept a buy-outoffer from five outside investors rather than accept a proposedmerger bid from the New York Mercantile Exchange. The 475 membersof the IPE will vote on the sale at an extraordinary generalmeeting held on July 30. The board threatened to resign if theoutside investor sale failed.