BP to Pay $18.7 Billion to Settle Deepwater Horizon Spill Claims

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BP has agreed to pay $18.7 billion over 18 years to settle all federal and state claims arising from the Deepwater Horizon oil spill, five years after the accident.

BBC to Cut Over 1,000 Jobs

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The British Broadcasting Corp., the U.K.’s venerable state-funded broadcaster, said Thursday it is cutting more than 1,000 jobs to cope with the increasing migration of television viewers to the Internet.

China Shares Tank as Beijing's Moves to Spur Buying Fall Short

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Chinese shares plunged Thursday, even as Beijing grasps for solutions to stem the selling, including relaxing rules on the use of borrowed funds to invest in stocks.

U.S. Employers Add 223,000 Jobs

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U.S. employers steadily added jobs in June, but wages were flat and the participation rate fell, suggesting pockets of weakness remain in the labor market. Unemployment fell to 5.3%.

Revamped Bubble Wrap Loses Its Pop

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Sealed Air, the original seller of Bubble Wrap since 1960, is rolling out a revamped version of its signature product with one key difference: The bubbles don’t burst when pressure is applied.

U.S. Stock Futures Higher After Jobs

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U.S. stock futures held on to early gains after the June employment report showed a steady addition of new jobs last month.

Medicaid Insurers to Merge in $6.3 Billion Deal

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Centene agreed to buy Health Net for about $6.3 billion in a move that will boost the Medicaid-focused health insurer’s presence in the western U.S.

U.S. Jobless Claims Rise to 281,000

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The number of Americans filing new claims for jobless benefits rose last week, but the level remains historically low.

Puerto Rico Utility Makes Payments to Bondholders

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The Puerto Rico Electric Power Authority paid all principal and interest due to bondholders, buying the troubled utility time as it works to reach a deal with creditors.

UPS, FedEx Move Full Speed Ahead in Europe

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In Europe, UPS and DHL are investing in hubs and warehouses, and FedEx is seeking approval for its acquisition of TNT as they jockey to take advantage of opportunities presented by the euro’s weakness.

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