BP Chief Executive John Browne resigned Tuesday, hours after a judge lifted a legal injunction preventing a newspaper from publishing details of his private life and allegations that he misused company resources. Browne, 59, had been fighting since January to keep the Mail on Sunday newspaper from publishing details from an interview with a man with whom he had a relationship.
News Corp. and Dow Jones
Dow Jones & Co. (DJ), publisher of The Wall Street Journal, has received an unsolicited bid from Rupert Murdoch’s News Corp. (NWS) to buy the company for $5 billion, or $60 a share. The news sent its shares soaring and those of other newspaper companies higher. Dow Jones is controlled by the Bancroft family through a class of shares and cannot be taken over without their consent.