Final BP settlement OK’d by judgeNEW ORLEANS — A federal judge in New Orleans granted final approval Monday to an estimated $20 billion settlement over the 2010 BP oil spill in the Gulf of Mexico, resolving years of litigation over the worst offshore spill in the nation’s history.The settlement, first announced in July, includes $5.5 billion in civil Clean Water Act penalties and billions more to cover environmental damage and other claims by the five Gulf states and local governments. The money is to be paid out over roughly 16 years. The U.S. Justice Department has estimated that the settlement will cost the oil giant as much as $20.8 billion, the largest environmental settlement in U.S. history as well as the largest-ever civil settlement with a single entity.U.S. District Judge Carl Barbier, who approved the settlement, had set the stage with an earlier ruling that BP had been “grossly negligent” in the offshore rig explosion that killed 11 workers and caused a 134-million-gallon spill.In 2012, BP reached a similar settlement agreement with private attorneys for businesses and residents who claim the spill cost them money. That deal, which didn’t have a cap, led to a protracted court battle over subsequent payouts to businesses. A court-supervised claims administrator is still processing many of these claims.BP has estimated its costs related to the spill, including its initial cleanup work and the various settlements and criminal and civil penalties, will exceed $53 billion.

Alaska Airlines buys Virgin AmericaNEW YORK — Alaska Airlines’ parent company announced Monday that it will pay $2.6 billion to buy Virgin America.The company hopes the deal will help establish it as travelers’ preferred airline on the West Coast and make it a tougher competitor to giants American, Delta and United on transcontinental routes.The deal would vault Alaska over JetBlue — the losing bidder for Virgin America — to become the nation’s fifth-biggest airline by passenger traffic.

San Francisco mulls paid parental leaveSAN FRANCISCO — The San Francisco Board of Supervisors is voting on whether to require six weeks of fully paid leave for new parents — a move that would be a first for any jurisdiction.The state already allows workers to receive 55 percent of their pay for up to six weeks to bond with a new child. The money comes out of a state insurance program funded by workers. The proposal to be voted on today would require San Francisco employers with at least 20 employees to make up the rest.Advocates say the legislation is needed because too many families can’t afford to take leave, but small business owners say the latest proposal is just another mandate in a long list of city mandates — including paid sick leave and health coverage — that unfairly targets independent owners.Federal law grants workers up to 12 weeks of unpaid leave. California, Rhode Island and New Jersey provide partial pay, with the money coming from employees. Legislators in New York last month approved up to 12 weeks of partial pay.