Editor's blog: The lessons of Tony Hayward

What the Deepwater saga has taught us about BP, Big Oil, and the 'special relationship'.

There’s a tart irony that, as part of his punishment for Deepwater sins, Tony Hayward is being sent to Siberia. He’ll become a director at TNK-BP, the group’s troubled Russian joint venture, when he leaves the oil company in the autumn. The incoming CEO Bob Dudley will be able to give his ex-boss a few tips on dealing with the KGB and the lawless nature of doing business Russian-style - though after his savaging at the hands of the Americans, it may well feel like a walk in the park. I have a few thoughts... [CONTINUES]

In today's bulletin:
Hayward out, Dudley in as BP plummets to record loss
Ofcom slams ISPs for misleading advertising
Halfords sales head downhill - but profits remain on track
Editor's blog: The lessons of Tony Hayward
Scardino hints at an exit as Pearson announces record profits

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