U.S. Markets closed

News Summary: Costa fined $1.3M for Concordia

The Associated Press

THE NEWS: A judge in Tuscany fined Italian cruise line Costa Crociere SpA 1 million euros ($1.3 million) for the 2012 shipwreck of the Concordia cruise ship that killed 32 people.

THE BACKGROUND: Costa, a division of Miami-based Carnival Corp., had asked for a plea bargain deal to respond to the administrative sanctions, which are for companies whose employees commit crimes. Prosecutors are seeking indictments for Capt. Francesco Schettino and five others on charges including manslaughter.

ABOUT THE CONCORDIA: The ship remains on its side in the port off the Tuscan island of Giglio; efforts to right it and tow it away are under way.