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BP has outlined an aggressive dividend strategy for the coming year, promising to return 100% of its free cash flow to shareholders ? which will likely total more than $23 billion.

Over a quarter of FTSE 350 directors believe that the requirement to comply with new regulations has a negative impact on their business.

Confidence in the European media sector is set to continue in 2005 according to the latest Media Insights report from PricewaterhouseCoopers Corporate Finance. This outlook follows a levelling out of activity in 2004 following strong growth in the second half of 2003, demonstrating a steady climb-back from the trough of 2002 - an indication that the M&A arena will be worth watching in 2005.

Citigroup has appointed Tom King as head of the European Investment Bank (EIB). His appointment is effective immediately.

SunGard Treasury Systems has announced the release of AvantGard-GTM 8.0 ? the product includes an interface and capabilities for derivatives accounting, interest rate processing, foreign exchange and cash management. The new version of AvantGard also debuts Status-based Security (SBS).

Pensions can be worth anywhere between 20% and 70% of salary for finance executives across FTSE 350 companies, according to a report by Deloitte.

It's been a good week for UK companies' earnings reports. One day after Shell announced record profits, coffee chain Caffe Nero said its profits had almost trebled from £735,000 to £1.89 million in 2004.

The frequency of US asset-backed security (ABS) downgrades fell to 7.8% in 2004 from 10.2% in 2003, but remained higher than the 5.4% historical average. The upgrade rate improved slightly to 2.1% in 2004 from 1.3% in 2003.

The Pension Benefit Guaranty Corporation has announced it will assume responsibility for the pensions of more than 51,000 flight employees of US Airways, the bankrupt air carrier based in Virginia, US. The estimated cost to the pension insurance program is $2.3 billion, in addition to the $726 million claim from the US Airways' pilots plan in 2003. The total claim of $3 billion is the second largest in the history of the pension insurance program, after Bethlehem Steel at $3.7 billion.

Anglo-Dutch oil company Shell has reported annual net income of $18.5 billion for 2004 ? the largest ever annual profit of a UK company and a 38% increase on 2003. The company also achieved record cash generation of $33 billion and says that as a result shareholders will receive at least $10 billion cash in dividends during 2005.

Computer Associates, the US management software company that was embroiled in an accounting fraud scandal in 2003, has appointed Robert Davis as its new CFO. He joins after 18 years at rival software company Dell where he was most recently chief accounting officer. Davis replaces Jeff Clarke, who was promoted to chief operating officer soon after his appointment as CFO in April 2004. Clarke said of his successor: ?Bob's in-depth understanding of the financial discipline, rigour and planning necessary to generate success in the technology industry is unique.?

Yet more companies have announced plans to launch share buy-back plans in a bid to return value to shareholders.