Daily Archives: October 3, 2013

John Gapper

Score one for the Louisiana legal system. BP has gained a notable, and rather unexpected, victory in the US appeals court in New Orleans over Patrick Juneau, the administrator of claims for damages relating to the 2010 Deepwater Horizon disaster.

BP went to court over the way Mr Juneau interpreted its settlement with businesses claiming compensation. It argued that he was allowing loose claims by businesses that happened to suffer a dip in revenues after the spill simply because of cashflow anomalies. 

As the social networking industry hits its 10th anniversary, those at the top are doing well. Twitter will soon undergo an initial public offering that may value it at $15bn and Facebook has recovered from its rocky IPO last year so swiftly that the 20 per cent stake owned by Mark Zuckerberg, its founder, is now worth $24bn.