BP Faces Fresh Fines of Nearly $18B For 2010 Gulf of Mexico Spill

Shares of BP slipped on Thursday making it TheStreet's Move of the Day. The U.K.-based oil company dropped on the U.S. federal ruling it had acted with gross negligence in the Gulf of Mexico oil spill four years ago. The latest verdict could add as much as $18 billion in fines, contributing to a total $42 billion in charges levied against the company. “BP’s conduct was reckless,” the judge wrote in his ruling on what has been determined as the worst offshore environmental disaster in the nation’s history. While companies Transocean and Halliburton were found partially to blame, the judge ruled BP was most at fault.