The BP chief brought in to turn around the oil giant following the Deepwater Horizon disaster has retired after 40 years in the industry.

Bob Dudley, 64, said he would step down as chief executive following the company's annual results in February and formally quit the following month.

It marks the latest in a long line of senior resignations and retirements in the past week, with executives at Tesco, Sainsbury's, Metro Bank, Standard Life Aberdeen and Imperial Brands all standing down.

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New York-born Mr Dudley will be replaced by Irish national Bernard Looney, currently head of oil and gas production, who had been tipped for the top job.

Mr Looney will take home a basic salary of £1.3 million a year, before any bonuses. Mr Dudley's base pay was in US dollars and hit 1.85 million (£1.5 million) last year, although with bonuses his total pay was 14.7 million (£11.9 million).

The outgoing chief said: "It has been the privilege of a lifetime to serve this company and work in this industry for the past four decades.

"I have worked with so many committed people from all over the world - both inside and outside BP - and I am enormously proud of all the things we have achieved together to provide energy for the world."

HP Inc will cut between 7,000 and 9,000 workers over the next three years to save around a billion dollars (£550 million), its incoming chief executive has said.

The personal computer and printer maker says it expects to drop thousands from its global workforce of about 55,000 by 2020.

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HP announced the job cuts on Thursday at a meeting with Wall Street analysts headlined by incoming CEO Enrique Lores.

He had been overseeing the HP division that includes its profitable business of selling ink for the company's printers before being named to the top job last month.

The workforce reductions come as the Palo Alto, California, company wraps up a three-year restructuring plan that included the elimination of up to 5,000 jobs.

HP Inc was created in 2015 when Hewlett Packard split is PC and printer operations from its businesses specialising in data-centre hardware and business software. That part is now known as Hewlett Packard Enterprise.

HP Inc's stock is down 10% so far this year, compared to a 16% rise for the benchmark Standard & Poor's 500 index.

Around six million insurance policyholders pay high prices and are not getting a good deal, according to the City regulator.

The Financial Conduct Authority (FCA) made the comments as it published an interim report into the pricing of home and motor insurance.

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If those customers paying high premiums paid the average price for their risk they could save around £1.2 billion a year, the regulator said.

It is considering remedies to improve competition, which could include banning or restricting practices such as raising prices for consumers who renew year on year or requiring firms to automatically move consumers to cheaper equivalent deals.

Other potential remedies under consideration include restricting the way that firms use automatic renewal, which could discourage switching.

The FCA is also considering whether firms should publish information about price differentials between their customers.

Christopher Woolard, executive director of strategy and competition at the FCA, said: "This market is not working well for all consumers."