BP oil spill settlement 'show of good faith'

The oil giant BP has agreed to pay $7.8bn to settle claims from an estimated 110,000 victims of the Deepwater Horizon oil spill.

On Monday investors will get their first opportunity to react to the settlement and shares have opened 2.5% higher.

It is being seen as a major step towards the company recovering from the incident which killed 11 people and spilt four million barrels of oil into the sea.

Dane Chiolino is professor of law at Loyola University, New Orleans and he told the BBC the settlement was "a show of good faith".

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