BP warns of rising costs from oil spill settlement

BP is warning investors that the cost will be “significantly higher” than it initially estimated for its multibillion-dollar settlement with businesses and residents who claim they were affected by the 2010 oil spill in the Gulf of Mexico.

The London-based oil giant estimated last year that it would spend roughly $7.8 billion to resolve tens of thousands of claims covered by the settlement agreement. But in a regulatory filing this week, BP PLC said businesses’ claims have been paid at much higher average amounts than it had anticipated.

The company also said it can’t reliably estimate how much it will pay for unresolved business claims following a ruling Tuesday by the federal judge supervising the uncapped settlement. U.S District Judge Carl Barbier rejected BP’s interpretation of certain settlement provisions.

Fish McBites fail to hook McDonald’s U.S. customers

McDonald’s new Fish McBites failed to hook enough diners to get the fast-food chain’s U.S. sales growing in February.

The world’s biggest hamburger chain said Friday that a key sales figure was down 3.3 percent for the month. When excluding the extra day of sales in February of last year, which was a leap year, the company said the figure was flat. That was despite the rollout of the Fish McBites nuggets in three sizes, which were also offered as the first new Happy Meal entree in a decade.

Walmart executive Dach leaving company in June

Leslie Dach, who played an influential role in reinventing the image of Walmart Stores Inc. in the face of mounting attacks by labor groups and other critics, is leaving the company in June after seven years.

The world’s largest retailer said Friday that it has an active search under way to replace Dach.

Dach, 58, joined Walmart in August 2006 as executive vice president of corporate affairs as anti-Walmart attacks reached a fever pitch on all fronts, from how it treats its workers to how it hasn’t taken enough responsibility for its environmental impact.

Google cutting 1,200 jobs in its Motorola division

Google is cutting an additional 1,200 jobs in its Motorola division as the unprofitable cellphone maker struggles to compete.

Last summer Google Inc. announced 4,000 Motorola job cuts. The latest reductions are in addition to those and will include the United States, China and India.

When Mountain View, Calif.-based Google bought Motorola last year for $12.4 billion, Motorola had about 20,000 employees.

Google to pay $7 million to resolve Wi-Fi case

Google will pay a $7 million penalty to settle a multistate investigation into the Internet search leader’s collection of emails, passwords and other sensitive information sent over wireless networks in neighborhoods throughout the country several years ago.

A person familiar with the matter said the resolution will close a joint investigation by more than 30 states. The settlement isn’t expected to be announced until early next week.

The case dates back to 2010 when Google Inc. revealed that company cars taking street-level photos for its online mapping service also had been vacuuming up personal data transmitted over wireless networks that weren’t protected by passwords.

Damages of $8.3 million awarded in hip implant case

A jury Friday awarded $8.3 million to a former prison guard who accused Johnson & Johnson’s DePuy Orthopaedics subsidiary of knowingly marketing a faulty hip implant that was later recalled.

Jurors found that the ASR XL implant was defectively designed and caused metal poisoning and other health problems suffered by Loren Kransky after he underwent surgery in 2007.

– From news service reports

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