BP was "grossly negligent" for its role in the oil spill in the Gulf of Mexico four years ago, a US district judge has said in a ruling that could add billions of dollars in fines to the more than US$42 billion (NZ$50.5b) in charges taken so far for the worst offshore disaster in US history. Shares of BP traded in the United States fell 5 per cent, or US$2.40, to US$45.31, eroding about US$8.8 billion of its market value. BP shares traded in London closed down nearly 6 per cent, the worst one day slide in more than four years. US District Judge Carl Barbier in New Orleans held a trial without a jury last year to ... (full story)