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NFLX   239.71 (-2.24%)
QQQ   271.87 (-2.88%)
AAPL   142.48 (-4.91%)
MSFT   237.50 (-1.48%)
META   136.41 (-3.67%)
GOOGL   97.42 (-2.63%)
AMZN   114.80 (-2.72%)
TSLA   268.21 (-6.81%)
NVDA   122.20 (-4.05%)
NIO   15.58 (-10.10%)
BABA   79.06 (-2.38%)
AMD   64.14 (-6.17%)
T   15.53 (-1.90%)
MU   50.01 (-1.94%)
CGC   2.78 (-8.55%)
F   11.47 (-5.83%)
GE   62.73 (-2.68%)
DIS   97.45 (-1.96%)
AMC   7.10 (-7.43%)
PYPL   88.70 (-2.66%)
PFE   44.16 (-0.61%)
NFLX   239.71 (-2.24%)
QQQ   271.87 (-2.88%)
AAPL   142.48 (-4.91%)
MSFT   237.50 (-1.48%)
META   136.41 (-3.67%)
GOOGL   97.42 (-2.63%)
AMZN   114.80 (-2.72%)
TSLA   268.21 (-6.81%)
NVDA   122.20 (-4.05%)
NIO   15.58 (-10.10%)
BABA   79.06 (-2.38%)
AMD   64.14 (-6.17%)
T   15.53 (-1.90%)
MU   50.01 (-1.94%)
CGC   2.78 (-8.55%)
F   11.47 (-5.83%)
GE   62.73 (-2.68%)
DIS   97.45 (-1.96%)
AMC   7.10 (-7.43%)
PYPL   88.70 (-2.66%)
PFE   44.16 (-0.61%)
NFLX   239.71 (-2.24%)
QQQ   271.87 (-2.88%)
AAPL   142.48 (-4.91%)
MSFT   237.50 (-1.48%)
META   136.41 (-3.67%)
GOOGL   97.42 (-2.63%)
AMZN   114.80 (-2.72%)
TSLA   268.21 (-6.81%)
NVDA   122.20 (-4.05%)
NIO   15.58 (-10.10%)
BABA   79.06 (-2.38%)
AMD   64.14 (-6.17%)
T   15.53 (-1.90%)
MU   50.01 (-1.94%)
CGC   2.78 (-8.55%)
F   11.47 (-5.83%)
GE   62.73 (-2.68%)
DIS   97.45 (-1.96%)
AMC   7.10 (-7.43%)
PYPL   88.70 (-2.66%)
PFE   44.16 (-0.61%)
NFLX   239.71 (-2.24%)

Judge approves $230M settlement in California oil spill case


Volunteers fill buckets with oil near Refugio State Beach after an oil spill north of Goleta, Calif., May 20, 2015. A judge has approved a $230 million lawsuit settlement by the owners of a pipeline that spilled more than 140,000 gallons of crude oil into the ocean off California in 2015. (AP Photo/Michael A. Mariant, File)

LOS ANGELES (AP) — A judge has approved a $230 million lawsuit settlement by the owners of a pipeline that spilled more than 140,000 gallons of crude oil into the ocean off California in 2015, lawyers announced Thursday.

A federal judge in Los Angeles gave final approval on Tuesday to a settlement of a class-action suit that blamed All American Pipeline, L.P. and Plains Pipeline, L.P. for the May 2015 spill off the Santa Barbara coast.

The corroded undersea pipeline ruptured north of Refugio State Beach in Santa Barbara County, northwest of Los Angeles. All American Pipeline later estimated that 142,800 gallons spilled.

It was the worst California coastal oil spill since 1969. It blackened popular beaches for miles, killing or fouling hundred of seabirds, seals and other wildlife and hurting tourism and fishing.

“Due to failed maintenance and extensive pipeline corrosion, the pipeline ruptured and spilled, devastating the fishing industry and soiling coastal properties from Santa Barbara County to Los Angeles County," said a press statement from the law firms that filed the suit.

People who believe they may be entitled to some of the money have until Oct. 31 to submit claims.

The companies didn’t admit liability in the settlement agreement, which was reached in May following seven years of legal wrangling.

Federal inspectors found that Plains had made several preventable errors, failed to quickly detect the pipeline rupture and responded too slowly as oil flowed toward the ocean.

Plains apologized for the spill and paid for the costly cleanup. In 2020, Plains agreed to pay $60 million to the federal government to settle allegations that it violated safety laws. It also agreed to bring its nationwide pipeline system into compliance with federal safety laws.

Plains has applied for permission to build a new pipeline but it is facing an uphill battle.

7 Stocks to Buy to Outrun Rising Interest Rates

The latest Consumer Price Index (CPI) reading indicates that inflation may be peaking. But if you go to the grocery store or pay rent you're aware that prices aren't going down anytime soon. In fact, there's growing sentiment that inflation will be sticky.

What does that mean for interest rates? One part of the Federal Reserve's dual mandate is to keep inflation at or near its 2% target level. That means that it's reasonable to suggest that the Fed is not done with rate hikes.

Rising interest rates generally spell trouble for equity investors. Businesses, like consumers, are affected by higher interest rates. Not to be overly simplistic, but hiring borrowing costs means lower earnings. And that means a lower stock price.

However, some stocks manage rising interest rates better than others. In this special presentation, we look at seven stocks that are built to outperform when interest rates are rising. And what's even better, many of these stocks have business models that provide growth when the economy is firing on all cylinders.

View the "7 Stocks to Buy to Outrun Rising Interest Rates".

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