November 2012 Current Events: Business News
Here are the key events in business and science news for the month of November 2012.
The Economy Holds Steady in October (Nov. 2): The U.S. adds 171,000 jobs in October, showing steady, consistent economic growth. The unemployment rate climbs slightly higher from 7.8 percent in September to 7.9 percent in October, but this is because more workers joined the labor force. Economy analysts say even though the outlook is positive, the report will not be a heavy influence on the rapidly approaching election.
BP Agrees to Pay Over $4 Billion (Nov. 15): The British oil company, BP, agrees to a guilty plea on 14 criminal charges involving the rig explosion in 2010 that caused a giant oil spill in the Gulf of Mexico and killed 11 people. BP also agrees to pay $4.5 billion in fines and penalties. In addition, the company's safety practices and ethics will also be monitored by the U.S. government for the next four years. At a news conference to announced the settlement, Attorney General Eric H. Holder, Jr. says, "This is unprecedented, both with regard to the amounts of money, the fact that a company has been criminally charged and that individuals have been charged as well."