What's In The News: May 17, 2011

Financial News Network
May 18, 2011 AT 12:05 AM
This is what's in the news for Tuesday, May 17th. the Wall Street Journal reports that BP PLC's (BP) arctic exploration deal with Russia's state oil company collapsed after BP was unable to overcome the opposition of the partners in its existing Russian joint venture. The Wall Street Journal reports that Hewlett-Packard's (HPQ) CEO Leo Apotheker told his top deputies that the company was in for "another tough quarter" and that "we must watch every penny." Reuters reports that Publicis Groupe (PUBGY) agreed to buy U.S.-based Rosetta Marketing Group for at least $575M to boost its digital and interactive marketing service offerings. Finally, The Associated Press reports that Warren Buffett's Berkshire Hathaway (BRK.A) picked up a new stake in MasterCard (MA) during Q1, and says it received permission from the SEC to keep information about some of its trades confidential because the market likes to follow what the company does.