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News Wrap: BP CEO Hayward Expected to Take Russia Job

July 26, 2010 at 1:43 PM EST
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As oil cleanup crews head back to work after a disruption from Tropical Depression Bonnie, embattled BP CEO Tony Hayward is expected to head out to take a job with BP's joint venture in Russia.
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HARI SREENIVASAN: The embattled chief executive of BP, Tony Hayward, is on his way out. Reports today said he is expected to take a job with BP’s joint venture in Russia. Hayward came under fire for his handling of the oil spill cleanup. His likely replacement is widely assumed to be Bob Dudley, the current point man in dealing with the oil spill.

And in the Gulf, crews headed back to work after remnants of Tropical Storm Bonnie cleared out. Retired Coast Guard Admiral Thad Allen said the job is a long way from done.

ADMIRAL THAD ALLEN (RET.), National Incident Commander: We’ll continue aggressive shoreline clean-up and, where we can back in the marshes, whatever we need to do to remediate where oil has come to shore.

That will still be aggressive. There’s still oil out there. We still have the possibility that the shore will be impacted, I guess, for the next four to six weeks, so we will continue to monitor that as we move forward.

HARI SREENIVASAN: Allen also said a relief well could drill into the blown well in order to plug it by the end of next week.

In Mexico, federal authorities pursued allegations that prison officials have let inmates carry out mass killings for drug cartels. The latest was last week, when hitmen stormed a birthday party in Torreon. They killed 17 people and wounded 18. On Sunday, federal prosecutors said the prison staff, including the director, released the inmates and let them use the guards’ weapons and official vehicles.

Wall Street extended its recent gains for a third day. The Dow Jones industrial average was up more than 100 points to close at 10525. The Nasdaq rose nearly 27 points to close at 2296.

New federal rules will allow the practice commonly known as jailbreaking. It means owners of Apple iPhones will be able to unlock the phones legally to download software that Apple has not approved and to switch cellular carriers. In addition, the visually impaired will be allowed to break locks on electronic books to have the texts read aloud with special software.

Those and other exemptions were announced today by the Library of Congress, which oversees the Copyright Office.

Those are some of the day’s major stories — now back to Jeff.