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US Judge Approves $20B Settlement for BP Oil Spill

A U.S. judge has finalized an estimated $20 billion settlement to resolve claims against BP stemming from the 2010 oil spill in the Gulf of Mexico, concluding years of litigation. The federal judge in New Orleans Monday granted final approval for the deal, which covers claims of environmental and economic damage made by the five Gulf states of Alabama, Florida, Louisiana, Mississippi and Texas as well as local governments. It also includes $5.5 billion in penalties for violations of the...

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