Energy
BP’s Turnaround Plan Tested by Weak Earnings, Falling Shares
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BP Plc’s plan to turn around years of poor performance got off to a rocky start as the first set of earnings since the company’s big strategy reset disappointed investors.
Shares of the company fell as much as 4.7% on Tuesday as its finances took a battering in the first quarter, with profits well below expectations, rising debt and the weakest cash flow in more than four years.