BP to settle Gulf oil spill claims

BP has agreed to settle claims from thousands of fishermen who lost work and others who said they were harmed by the oil giant’s 2010 Gulf of Mexico disaster, the worst offshore oil spill in US history.

The company said today it expected to pay out at least $7.8bn (€5.9bn) as part of the settlement. It says it expects the money to come from the $20bn (€15bn) compensation fund that it previously set out.