Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.

Business News

Transocean settles over oil spill

Transocean, the oil contractor that owned the Deepwater Horizon rig which blew up in the Gulf of Mexico in 2010, has reached a $1.4bn (£859m) settlement with the United States Department of Justice.

The deal, which the firm outlined in September, will see Transocean pay $400m in criminal penalties and $1bn in civil charges. BP, the owner of the well, has already agreed to a $4.5bn settlement over the disaster, which killed 11 men.