A judge ruled the miners' families and two survivors of the explosion should get 110,000 New Zealand dollars ($86,000) individually, an amount in doubt because Pike River Coal went into bankruptcy soon after the explosion.
The company was convicted in April of nine health and safety violations. A government investigation found it had ignored 21 warnings that methane gas had accumulated to explosive levels in the South Island mine.
S&P further downgrades Nokia after NSN purchaseHELSINKI (AP) â¿¿ Ratings agency Standard and Poor's on Friday downgraded Nokia Corp.'s credit rating further into junk territory, citing the deal this week to buy out Siemens from its Nokia Siemens Networks joint venture for 1.7 billion euros ($2.21 billion). The agency lowered the Finland-based company's long-term corporate credit rating to "B+" from "BB-," warning that its strong balance sheet will weaken as a result of the acquisition. S&P also affirmed Nokia's "B'' short-term corporate credit rating, with a stable outlook, and cut the issue rating on Nokia's senior unsecured debt to "B+" from "BB-." ___ Dell slips on reports buyout offer won't be raised NEW YORK (AP) â¿¿ Shares of Dell slid Friday on reports that founder Michael Dell and Silver Lake Partners don't plan to raise their $24.4 billion buyout offer for the company Bloomberg, the Wall Street Journal, and other media organizations reported that there won't be an increase in the bid, as Michael Dell and Silver Lake believe the offer they made in February represents fair value for the company. The shares fell as investors became more concerned the offer won't go through. Activist investor Carl Icahn, the company's second biggest shareholder, wants Dell to remain publicly traded and says the company should buy back $16 billion in stock to give shareholders a bigger return on their investment. Shareholders will vote on the buyout offer at the company's annual meeting on July 18.