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BP cuts dividend, Twitter sinks after FTC investigation

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Oil giant BP reported its Q2 results this morning which included its first dividend cut in a decade. The dividend was halved as the company had reported a record quarterly loss as Covid19 decimated energy demand across the globe. Despite these numbers not reading particularly well, shares are actually up over 5 this morning as the company announced its intention to cut its fossil fuels output by 40 by 2030. To do this, they have pledged 5 billion a year spending in the same period to boost the energy generated by renewable sources.