British oil giant BP is set to acquire a big swath of oil assets from Devon Energy. The deal, worth up to $6 billion, would vault BP into the hot new oil region off the shores of Brazil.

An international scientific body will conduct a wide-ranging review of the Intergovernmental Panel on Climate Change and make recommendations by August about how the organization should change.

U.K. banks have been getting more optimistic, but the regulator is assuming a more-severe fall in GDP in the U.K. than in previous scenarios.