BP's fine to settle criminal charges for the Macondo oil well tragedy in the Gulf of Mexico is set to smash the previous record for such a fine, the BBC reported.
The BBC's Business Editor, Robert Peston, says his sources indicate the fine could between $3bn and $5bn, or £1.9bn and £3.2bn. Even the lower of those numbers would be more than twice what was the largest fine in US corporate history, the $1.3bn fine paid by drugs firm Pfizer in 2009 in relation to marketing fraud charges.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Carers retire with an average pension of just £6,750A growing pensions gap shows carers retire with significantly less private pension income than the national average
-
8 of the best properties for sale with award-winning gardensThe best properties for sale with award-winning gardens – from a Victorian Gothic rectory in Hampshire, to a Georgian house in Kent with gardens designed by multiple Royal Chelsea Flower Show gold medallist Roger Platts
