BP reaches $7.8bn deal over Deepwater Horizon oil spill

BP says it has reached a $7.8bn (£4.9bn) deal with the largest group of plaintiffs suing the company over the 2010 Deepwater Horizon oil rig spill.

It will benefit some 100,000 fishermen, local residents and clean-up workers whose livelihoods or health suffered.

The company has not admitted liability and still faces claims from the US and state governments, and drilling firms.

Robert Peston reports.