BP to fund $20bn oil spill payout - BBC News

Oil firm BP is to place $20bn (£13.5bn) in a special fund to deal with compensation payouts after the Gulf oil spill, Barack Obama has said.

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In his current role as Mr Obama's "pay tsar", Kenneth Feinberg sets salary limits for executives at firms in receipt of federal bailout funds.

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This week, the BBC is assessing the impact of the Louisiana oil spill. Correspondents in the US, the Gulf of Mexico, Brazil, Nigeria and London are reporting for the BBC World Service, World News TV and the BBC News website.

Full Story: BP to fund $20bn oil spill payout - BBC News