23 Feb 2015

Business briefs

3:13 pm on 23 February 2015

New CEO for AWF

AWF Group says Simon Bennett will take over as chief executive from July.

He replaces Mike Huddleston, who joined the firm in 2008.

Simon Bennett is currently the chief executive of AWF's subsidiary, Madison Recruitment.

Euro zone activity up

Business activity in the euro zone had reached a seven month high.

Markit's composite flash purchasing managers' index for February hit 53.5, up from 52.6 in January.

Any figure over 50 indicates expansion.

The survey results suggest firms are hiring staff at the fastest rate since August 2011.

BP loses bid

Oil company BP has lost its bid to reduce the maximum fine it could face for its role in the 2010 Gulf of Mexico oil spill.

A judge in the US rejected BP's cap of $US3000 per barrel.

Government prosecutors claimed the firm was liable to pay $US4300 per barrel to account for inflation.

The court has yet to decide the amount of responsibility and final penalty the firm will pay for the disaster.