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Business News Archive - November 15, 2012

BP Agrees To Multi-Billion Dollar Fine

British Petroleum (BP) has agreed to plead guilty to felony charges stemming from the spill, paying out $4.5 billion in damages, including an additional $1.26 billion in criminal fees.

Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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