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Mark Gongloff is off the newsletter this week, so today’s 7.5 Things are brought to you by Jillian Berman.
Thing One: Bad News For BP Apparently the fallout from a disastrous oil spill can get in the way of making money. BP posted a 72 percent drop in profit last quarter, largely over fines the company agreed to pay to settle criminal charges related to the 2010 Deepwater Horizon oil spill, according to the Wall Street Journal. As is typical, the company was able to avoid paying taxes on the money used for the settlement. BP was charged $4.3 billion pre taxes over the oil spill and $3.85 billion of that was used to pay to settle criminal charges.
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