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Any other business

In defence of Amazon

8 August 2020

9:00 AM

8 August 2020

9:00 AM

We should take heart from BP’s £5.1 billion second-quarter loss, accompanied by a halving of its dividend. What’s good about that? Nothing — except that the loss reflects a write-down of the value of oil and gas assets that shifts the company to a more realistic footing for an extended period of low oil prices and reduced demand, indicating resilience rather than impending doom.

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