US court overturns $5bn damages award against Exxon

A US federal appeals court has overturned a $5bn damages award against oil giant Exxon over an oil spill in Alaska in 1989. The court said the damages were excessive and ordered a judge to determine a lesser amount.

A jury in Anchorage, Alaska, had awarded the damages to thousands of commercial fishermen, Alaska natives and property owners who suffered because of the oil spill.