BP settlement gets initial nod
■ A US federal judge has given preliminary approval to a proposed class-action settlement that would resolve billions of dollars in claims against BP over the 2010 Gulf of Mexico oil spill. US District judge Carl Barbier’s ruling yesterday allows the settlement process to proceed, but he will hold a “fairness hearing” later this year before deciding whether to give final approval. The deal between BP and a team of plaintiffs’ attorneys is designed to resolve more than 100,000 claims by people and businesses who blame the spill for economic losses. BP estimates it will pay about $7.8bn to resolve these claims.