BP Plc and lawyers for businesses and individuals suing over the 2010 Gulf of Mexico oil spill are near a $14bn (€10.64bn) accord to be funded with money set aside for out-of-court settlements, according to people familiar with the talks.

THE US Senate has approved the most sweeping changes in corporate accountability since the Depression, creating stiff penalties and jail terms for company fraud and tightening oversight of the accounting industry.

A LEGAL watchdog group said yesterday that it was suing Vice-President Dick Cheney and Halliburton Co, the oil services company he ran for five years, alleging fraudulent accounting practices at the company.