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Obama and BP set for oil-spill showdown

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President Barack Obama embarked on a new visit to the Gulf of Mexico on Monday, two days ahead of a crucial showdown with top BP executives over the worst environmental disaster in U.S. history.

The oil giant’s ever-growing cleanup bill from the oil spill piled more pressure on its shares on Monday which were down almost 9 percent in early afternoon trading in London.

In what is expected to be a pivotal week in the 56-day-old spill, lawmakers are due to grill BP executives at hearings on Tuesday and Thursday, while the president makes a two-day visit to the Gulf coast and address the nation.

Continue Reading at Reuters.

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