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Settlement talks are on between BP (NYSE: BP) and the tens of thousands of businesses and individuals affected by the Gulf of Mexico oil spill. A trial has been put on hold for a week, while business in the Gulf remains precarious.
BP has taken responsibility for the disaster, in which 4.9 million barrels of oil were spilled and 11 individuals were killed. The company has set aside $6 billion to cover claims. If a settlement isn’t reached, trials could last a year or more.