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Business

Briefs: 'Reckless' BP caused oil spill, judge says

Oil can be seen in the Gulf of

Oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig in a 2010 photo. Credit: AP / Gerald Herbert

Here's what's happening in the world of business on September 4, 2014.

Big stories

BP bears 67 percent of the blame for the 2010 Gulf Oil Spill, a federal judge ruled Thursday, saying the company "recklessly" neglected needed upkeep on the Deepwater Horizon Rig that contributed to its explosion. The ruling, which lodges $18 billion in penalties againt the oil giant, sent BP shares lower on Wall Street, causing the compnay to lose $7 billion in valuation. BP has said it will appeal.

Company news

A new drug to treat skin cancer developed by Merck has earned the approval of the U.S. Food and Drug Administration. The drug, called Keytruda, is used to treat deadly melanoma on the skin that cannot be surgically removed.

Google will pay back about $19 million to consumers to settle a Federal Trade Commission case over in-app charges made unwillingly by children.

Online directory site Yelp won the right to raise or lower ratings based on whether the company is a advertiser after a U.S. Circuit Court of Appeals ruled in favor of the internet company. Unhappy businesses accused Yelp of extortion over the practice.

It's the economy

Hiring at U.S. services firms expanded at the fastest pace ever recorded in August, the Instittue for Suplly Management said, with only mining, arts and entertainment and recreation shrinking during the month.

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