BP Plc’s suspension from all new U.S. government contracts in the wake of the 2010 Gulf of Mexico oil spill unfairly harms the global economy and punishes company affiliates that had nothing to do with the disaster, the British government argued to a U.S. court.
Bank of America Corp. and JPMorgan Chase & Co. , along with three other U.S. mortgage servicers, proposed paying $5 billion to settle a probe of their foreclosure practices by state and federal officials, two people familiar with the matter said.
The U.S. Justice Department has formed the Deepwater Horizon Task Force to consolidate its investigation into possible criminal charges stemming from the drilling rig explosion that killed 11 workers and caused the worst offshore oil spill in U.S. history.
Richard Holwell, the Manhattan federal judge overseeing the trial of Raj Rajaratnam, is a former corporate lawyer who condemned insider trading in two recent cases he has handled during his eight years on the bench.
BP Plc, Transocean Ltd. and Halliburton Co. must convince a federal judge that mistakes that led to the 2010 Gulf of Mexico oil spill don’t amount to gross negligence if they are to avoid billions of dollars in damages for the largest offshore oil spill in U.S. history.
Morgan Stanley can’t ask a court in Singapore to block shareholders living in that country from suing over their losses on $154.7 million in synthetic collateralized debt obligations, a judge in New York ruled.