Judge OKs $4B criminal penalty for BP oil spill
NEW ORLEANS – BP PLC closed the book on the Justice Department’s criminal probe of its role in the Deepwater Horizon disaster and Gulf oil spill Tuesday, when a federal judge agreed to let the London-based oil giant plead guilty to manslaughter charges for the deaths of 11 rig workers and pay a record $4 billion in penalties.
What the plea deal approved by U.S. District Judge Sarah Vance doesn’t resolve, though, is the federal government’s civil claims against BP. The company could pay billions more for environmental damage from its 2010 spill.
Vance said that the company already has racked up more than $24 billion in spill-related expenses and has estimated it will pay a total of $42 billion to fully resolve its liability for the disaster in the Gulf of Mexico.
U.S. home prices accelerate in November
WASHINGTON – U.S. home prices accelerated in November compared with a year ago, pushed higher by rising sales and a tighter supply of available homes.
The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.5 percent in November compared with the same month a year ago. That’s the largest year-over-year gain in six years.
All but one of the cities in the index posted annual gains. The largest gain was in Phoenix, where prices jumped nearly 23 percent. It was followed by San Francisco, where prices rose 12.7 percent, and Detroit, where they increased 11.9 percent.
Gore hits corporate media, defends Current TV sale
NASHVILLE, Tenn. – Al Gore, who takes aim in his new book at the corporate media for “suffocating the free flow of ideas,” on Tuesday defended the sale of his own television channel to Al-Jazeera.
The Qatar government-owned news network earlier this month struck a deal to buy Current TV, the cable news network co-founded by the former vice president, for $500 million. Gore told The Associated Press that he had no reservations about selling the channel to Al-Jazeera, which has won U.S. journalism prizes but has been criticized by some for an anti-American bias. The new owner plans to gradually transform Current into a network called Al-Jazeera America.
“They’re commercial-free, they’re hard-hitting,” he said in a phone interview. “They’re very respected and capable, and their climate coverage has been outstanding, in-depth, extensive, far more so than any network currently on the air in the U.S.”
Gore’s new book is The Future: Six Drivers of Global Change.