Tony Hayward steps down at BP, as the oil major reports one of the biggest losses in British corporate history

After weeks of speculation, BP has announced its CEO Tony Hayward is stepping down. He has been the focus of intense criticism over the company's handling of the oil leak in the Gulf of Mexico. BP in London said Hayward would step down in October after nearly 3-decades with the oil giant. At the same time, the company also released its second quarter figures, which show a loss of 13- Bbillion euros.