
Business - Legal News
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2025/05/17 Trump Tells Walmart: Don’t Raise Prices, Absorb Tariff Costs Instead
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2025/04/26 Two major law firms urge judges to block Trump’s executive orders
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2025/02/16 What changes to the CHIPS act could mean for AI growth and consumers
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2025/02/08 What you can find at WebPromo - Korean Community Blog Website
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2025/01/22 Court declines to hear from gas companies trying to block climate change lawsuits
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2024/12/31 Small businesses brace themselves for potentially disruptive TikTok ban
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2024/12/05 Celsius founder Alex Mashinsky pleads guilty to fraud charges
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2024/10/29 Ford cuts 2024 earnings guidance due to warranty costs and slow pace of cost cutting
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2024/10/11 Supreme Court rejects appeal from ‘Pharma Bro’ Martin Shkreli
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2024/09/29 X requests it be reinstated in Brazil after complying with judge’s orders
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2024/09/08 Google faces new antitrust trial after ruling declaring search engine a monopoly
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2024/08/30 Supreme Court rebuffs plea to restore multibllliou-dollar student debt plan
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2024/07/02 Sun Action Trackers, LLC - Improve Your Solar Plant Performance
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2024/05/22 Target sales decline to start the year, but it sees improvement
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2024/05/15 TikTok content creators sue the US government over potential ban
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2024/01/18 Court wrestles with major challenges to the power of federal regulators
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2023/12/15 Apple now requires a court order to share push notification details
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2023/11/16 Russian court fines Google for failing to store personal data on its users
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2023/10/27 FTX founder Sam Bankman-Fried testifies at his fraud trial
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2023/09/07 Online gig work is growing rapidly, but workers lack job protections
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2023/08/29 3M agrees to pay $6 billion to settle earplug lawsuits
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2023/06/16 Austrian court restarts US extradition proceedings for Ukrainian businessman
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2023/05/10 Maryland Supreme Court reverses ruling on digital ad tax
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2023/05/02 Los Angeles Koreatown Local Business Directory
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2022/12/21 FTX founder could be sent to US after extradition hearing
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2022/11/02 Utah-based resort company closes on purchase of Jay Peak
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2022/10/12 Judge ends lobbying suit against casino developer Steve Wynn
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2022/10/08 Lawyer gets prison for laundering millions in drug money
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2022/09/17 Oregon high court declines appeal in $1 billion timber suit
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2022/07/08 Wisconsin Supreme Court disallows absentee ballot drop boxes
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2022/02/22 Pot retailer denies executives pressured state officials
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2022/01/20 BNSF railroad tries to block 17,000 workers from striking
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2021/05/12 Brooklyn man gets 20 years in prison in subway terror case
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2021/03/02 Supreme Court likely to uphold Arizona voting restrictions
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2021/02/25 Cable companies win lawsuit over Maine’s a la carte law
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2021/01/24 Supreme Court ends Trump emoluments lawsuits
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2020/11/17 Exquisite Lifestyle by S54 Group
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2020/10/20 High court to review two cases involving Trump border policy
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2020/07/25 US Supreme Court denies Nevada church’s appeal of virus rule
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2020/06/28 Courts straining to balance public health with public access
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2020/05/13 Supreme Court appears likely to reject Trump immunity claim
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2020/05/09 Blind justice: No visual cues in high court phone cases
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2020/04/17 Virginia high court rejects bid to keep slave block in place
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2020/04/03 Court: Utilities cannot charge energy-making customers more
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2020/03/08 Juul Labs sought to court state AGs as teen vaping surged
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2020/02/26 Court rules parents of slain teenager cannot sue border agent
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2020/02/10 Regents win fees, costs in court case over real estate deal
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2020/02/03 Arizona AG wants ballot harvesting decision placed on hold
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2019/12/06 Trump asks Supreme Court to void financial records subpoena
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2019/10/24 French court postpones ruling on cement firm Lafarge case
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2019/10/01 Carnival execs back in court on ocean pollution case
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2019/09/26 High Court overturns city mandate on construction projects
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2019/05/31 Judge vows to move fast ahead of July 1 UPMC-Highmark split
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2019/05/29 Huawei asks court to rule US security law unconstitutional
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2019/05/24 DeVaney sworn in to South Dakota Supreme Court
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2019/04/04 As Tesla heads to court, shares fall as deliveries slow
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2019/03/10 Court rejects Ghosn’s request to attend Nissan board meeting
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2018/12/21 Fight over report on Wynn allegations back in court Jan. 4
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2018/12/17 Dutch Supreme Court upholds weapon smuggling conviction
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2018/10/24 Court rules for investors in Volkswagen diesel suit
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2018/10/02 High court denies review of Grand Canyon-area mining ban
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2018/09/16 Chicago, surfer group oppose US Steel settlement in court
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2018/08/28 Austrian court's approval for spy agency raid was illegal
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2018/07/11 Demonstrators force Fox crew from Supreme Court broadcast
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2018/06/11 Supreme Court won't get involved in Wrigley Field dispute
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2018/05/24 California high court to rule on social media access
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2018/05/21 Divided Supreme Court rules for businesses over workers
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2018/05/15 Sanctuary cities could get boost from sports betting ruling
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2018/05/07 Court asked to toss more cases tied to drug lab scandal
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2018/04/27 Appeals court: Tribal casinos can be subject to US labor law
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2018/04/18 Supreme Court upholds audit law, ending Otto's lawsuit
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2018/04/10 Court to decide if drug use while pregnant is child abuse
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2018/03/19 Supreme Court leaves in place ruling reviving Flint lawsuits
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2018/02/12 Ohio court to hear online charter school's funding case
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2018/01/23 Pennsylvania court throws out congressional boundaries
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2018/01/16 Hong Kong court to rule later on 3 activists' prison terms
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2017/10/17 Court agrees to take on US-Microsoft dispute over emails
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2017/10/12 Businesses ask Supreme Court to take gay rights case
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2017/09/25 Ski Resort Fraud Court Case to Get Started in Vermont
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2017/09/14 Wisconsin chocolatier, Mars candy company resolve dispute
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2017/09/12 Ohio Supreme Court hears dispute on abortion clinic closure
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2017/08/16 Nevada pot regulators back in court as supplies dwindle
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2017/08/15 German court sends ECB challenge to European court
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2017/08/13 British cybersecurity expert pleads not guilty to US charges
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2017/07/31 Court: FAA must reconsider regulating airline seat size
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2017/06/05 High court limits seizure of assets from drug conspiracies
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2017/05/18 Puerto Rico's creditors want to settle massive debt crisis out of court
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2017/05/01 Supreme Court: Cities can sue banks under fair housing law
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2017/04/26 Sturgis-area campground fights for city status in court
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2017/04/24 Justices turn away GM appeal over ignition switches
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2017/04/05 Facebook loses search warrant challenge in New York court
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2017/03/06 Oklahoma tribe sues oil companies in tribal court over quake
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2017/02/07 Facebook takes search warrant challenge to top court
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2017/01/28 Competing bills target, affirm high court water decision
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2017/01/23 High court won't hear 'Sister Wives' appeal over bigamy law
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2017/01/16 Supreme Court considers suit over 2001 detention of Muslims
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2016/12/10 Supreme Court upholds broad reach of bank fraud law
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2016/11/18 High court dismisses case over high ATM fees
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2016/10/10 Court: Construction can resume on small stretch of pipeline
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2016/09/29 Supreme Court to hear 'swipe fees' case
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2016/09/22 California Supreme Court to consider suit over Yelp review
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2016/09/14 Court ruling clears Yelp over bad rating reviews
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2016/08/15 Philippine court asked to block hero's burial for Marcos
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2016/07/20 Arkansas execution case could lead court to revisit Oklahoma
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2016/07/15 Court blocks prosecutors from seizing emails stored overseas
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2016/06/21 Court rejects appeal from Illinois smokers
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2016/06/08 Bollywood filmmaker challenges censoring of drug-abuse film
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2016/05/27 Court upholds $3M judgment against Gerber Products Co.
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2016/05/04 European court: Tougher rules on electronic cigarettes
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2016/03/19 Court acquits ex-Porsche executives over VW bid
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2016/03/07 Supreme Court rejects Apple appeal over electronic books
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2016/02/29 Supreme Court rejects NJ employees' appeal over pension fund
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2016/02/23 German court ends fight over estate of Iran shah's 2nd wife
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2016/02/14 Reality tempers optimism in coal country after court ruling
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2015/10/16 Britain's High Court rules that Uber app is lawful
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2015/09/23 Indiana's high court to consider State Fair stage collapse
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2015/09/06 Federal appeals court set to hear Microsoft 'cloud' case
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2015/06/30 US court agrees Apple violated antitrust law in e-book entry
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2015/06/18 Illinois high court: Comcast must reveal anonymous commenter
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2015/05/20 Swiss Bank UBS Pleading Guilty To Wire Fraud
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2015/05/15 Pandora loses to BMI in court hearing, vows to appeal
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2015/05/14 Duke Energy will be in federal court for coal ash crimes
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2015/04/03 Ex-UBS banker pleads guilty in US tax evasion case
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2015/03/12 FTC sues DirecTV, alleges hidden fees and deceptive ads
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2015/02/09 Former Massey Energy CEO asks court to dismiss charges
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2015/02/05 Canadian court approves Target to begin liquidating
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2015/02/01 Court upholds deceptive ad claims against POM
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2014/12/26 Court revives Coast Guard suit against Bollinger Shipyards
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2014/11/20 EU Court adviser backs cap on bank bonuses
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2014/11/06 Texas energy group asks court to halt fracking ban
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2014/10/10 Japan court orders Google to remove search results
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2014/09/02 Court halts ridesharing service Uber in Germany
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2014/08/13 Appeals court OKs permits for Upper Peninsula mine
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2014/08/01 Wisconsin Supreme Court upholds 2011 union law
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2014/07/28 German court receives suit against EU bank union
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2014/07/25 Court throws out Chiquita terror payment claims
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2014/07/10 Apple wins EU court case on store design trademark
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2014/06/03 Court: Company didn't induce patent infringement
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2014/05/13 European court: Google must yield on personal info
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2014/03/21 Court OKs massive development north of Los Angeles
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2014/03/07 Two men found guilty for selling U.S. company’s technology
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2014/01/28 Viacom, Fox want to run anti-smoking ads too
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2014/01/14 High court OKs Miss. lawsuit on LCD price fixing
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2014/01/05 Ohio courts must report mental health info
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2013/12/31 Court order needed to stop Pa. center utilities
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2013/12/25 Target: Justice Dept. investigates its data breach
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2013/12/18 Hearing: Which court should hear coastal lawsuit?
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2013/10/23 Appeals court rejects secret Delaware arbitration
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2013/10/10 Sands asks Nev. court to overturn documents ruling
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2013/10/06 PG&E starts pipeline shutdown under court order
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2013/09/24 Appeals court panel considers TABOR challenge
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2013/09/21 Ex-bank executive pleads guilty in Olympus fraud
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2013/08/26 Judge denies motions in WVU media rights laws
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2013/08/16 Court: Right-to-work law applies to state workers
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2013/07/17 Court sides with Yahoo in data collection case
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2013/06/29 CA court rejects lawsuit to block huge solar farm
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2013/02/18 High-stakes fight over soybeans at high court
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2013/02/01 Court denies reporter's bid for AIG reports
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2013/01/24 Court sides with Jewish group against Twitter
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2012/12/19 Convicted financier says he can't afford a lawyer
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2012/12/06 Court denies rehearing on cigarette warnings
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2012/10/22 Retail group against revised card settlement
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2012/09/11 Markets hopeful over German court ruling
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2012/08/29 Apple lists 8 Samsung products it wants banned
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2012/08/22 Court: Texas can cut off Planned Parenthood funds
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2012/08/15 3M Co. sues former law firm for switching sides
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2012/07/25 Appeals court reinstates lawsuit against Glock
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2012/07/11 Wis. town barred from beefing up farm water rules
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2012/07/03 Man pleads not guilty to smuggling fake Marlboros
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2012/07/02 China court: Apple pays $60M to settle iPad case
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2012/06/27 European court upholds most of Microsoft fine
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2012/04/06 Ex-Tyco CEO loses parole bid in New York
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2012/04/03 Australia court finds Google hosted misleading ads
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2012/03/27 Court refuses to revive suit by ex-driver Mayfield
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2012/03/15 Florida CVS stores' suspension put on hold
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2012/03/07 Court Overturns $10M Tyson Verdict
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2012/03/05 Bankruptcy threat to iPad trademark challenger
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2012/02/24 Indianapolis Business & Corporate Law Firm
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2012/02/22 Apple defends use of iPad name in Chinese court
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2012/02/15 Cisco challenges Microsoft takeover of Skype in EU
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2012/02/10 Lehman Brothers sues Citigroup for $2.5B
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2012/01/31 Business group weighs in on cigarette label suit
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2012/01/18 Amazon Hit With Class Action Over Zappos Data Breach
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2011/12/22 Vulcan sues Martin Marietta over takeover bid
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2011/12/13 Washington Mutual agrees to settlement
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2011/12/08 Dodgers, Fox battle over media rights sale
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2011/11/28 High court to review fine for mercury storage
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2011/11/14 Russia court rejects $16 billion claim against BP
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2011/10/27 5 states take Asian carp case to Supreme Court
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2011/10/05 Samsung Seeking To Block Sale Of New IPhone 4S
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2011/09/09 Court: Samsung can't sell tablet in Germany
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2011/09/07 EU court puts limits on modified honey
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2011/09/02 Court signs off on Comcast takeover of NBCU
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2011/08/16 Industry applauds ruling on city gas drilling ban
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2011/07/15 Regulators shut 4 small banks in 3 states
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2011/07/13 Bernanke: Fed ready to act if economy worsens
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2011/07/12 Legal questions raised on NY's gas-drilling rules
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2011/07/06 Bank of America settlement faces challenge
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2011/06/29 BofA Near $8.5B Deal to Settle Big Investors' Claims
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2011/06/27 Citigroup ex-VP arrested in NYC on fraud charges
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2011/06/23 Prescription drug data mining law struck down
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2011/06/09 Banks lose battle to delay cap on invisible fee
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2011/06/06 Court says university, company co-owners of patent
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2011/05/31 W.Va. court rejects bid to halt Massey Energy sale
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2011/05/24 Hartford Courant wants plagiarism suit dismissed
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2011/05/13 AIG, Treasury offering 300M shares worth $9B
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2011/05/05 LA lawsuit claims Deutsche Bank is 'slumlord'
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2011/04/26 Lawsuit over fish pedicures heads to Arizona court
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2011/04/19 Community Health makes all-cash bid for Tenet
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2011/04/17 S&P cuts long-term outlook for US debt to negative
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2011/04/12 Attorneys for NFL players meet with judge
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2011/03/31 IBM files court motion to depose Daniels, aide
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2011/03/04 Delaware court upholds Barnes & Noble ruling
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2011/02/10 Murdoch firm to pay Insignia $125 million
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2011/02/02 Ex-Va. business owner admits unemployment scam
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2011/02/01 91,000 Gulf oil spill claims, just 1 final payment
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2011/01/21 Verizon challenges FCC's net neutrality rules
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2010/12/29 Court: Oracle owed interest by SAP in settlement
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2010/12/18 Bank of America stops handling WikiLeaks payments
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2010/12/03 MGM restructuring plan approved by court
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2010/11/30 Supreme Court Ends Tiffany's Fight Against eBay
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2010/11/28 $450m class action launched against NAB
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2010/11/16 Companies crank up deal machine, put cash to work
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2010/11/01 Madoff, Halliburton, Wells Fargo in Court News
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2010/10/26 Amazon Wins in Court Against NC for Now
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2010/10/01 Court strikes down parts of Ohio milk labels rule
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2010/09/23 Warren Buffett: 'We're still in a recession'
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2010/09/23 ND Supreme Court upholds $12K bank overdraft fee
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2010/09/18 Regulators close 6 banks in Ga, NJ, Ohio, Wis
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2010/08/31 Banks post $21.6 billion profit in 2nd quarter
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2010/08/25 U.S. appeals court upholds $33 bln wireless auction
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2010/08/19 Stocks drop as jobless claims rise unexpectedly
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2010/08/09 BP Deposits $3 Billion in Spill Fund
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2010/08/04 Mich. oil pipeline shut down for work before spill
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2010/08/02 Firms crack down on staffers' posts on social media sites
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2010/07/29 Coal companies eye targeting congressional Dems
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2010/07/20 Goldman profit slides on SEC charge, revenue drops
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2010/06/29 BP Sued Over Employee Stock Plan Losses After Spill
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2010/06/17 At spill hearing, BP CEO says he's 'deeply sorry'
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2010/06/07 Lehman, Nortel, Bank of America, Google in Court News
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2010/06/04 Cleanup Costs and Lawsuits Rattle BP’s Investors
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2010/05/19 Microsoft Says Salesforce.com Infringes Patents
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2010/05/11 Movie Gallery plans to close all stores, liquidate
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2010/05/05 Former Qwest CEO Nacchio due in court Tuesday
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2010/04/26 Lorillard 1Q profit up, excise tax helps revenue
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2010/04/20 High court to look at Costco sale of Swiss watches
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2010/04/09 BeBevCo Has New Legal Counsel
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2010/04/01 Daimler bribes: a blown chance to clean up its act
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2010/03/31 Philly news lenders appeal auction bid rules
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2010/03/26 US judge orders firms to defend municipals suit
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2010/03/24 Court lifts ban on media ownership restrictions
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2010/03/10 Goldman Sachs group to appeal Shaw-Canwest deal
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2010/02/08 Nokia says U.S. court case claims have no merit
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2010/02/06 Google Book Settlement Falls Short For Justice Dept.
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2010/02/04 Ex-Lawyer: Toyota Willfully Deceptive
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2009/12/30 SEC alleges fraud by Austin investment firm
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2009/12/15 Prosecutors: LA man cheated investors out of $10M
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2009/12/14 Court rejects new appeal of Chrysler sale
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2009/12/03 Nortel wins approval for sale of businesses
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2009/12/02 General Growth Properties files for reorganization
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2009/12/01 Supreme Court again denies ex-Qwest CEO Nacchio
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2009/11/24 GM sues steering column supplier
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2009/11/18 Court sides with Boeing on $1.1B contract
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2009/10/29 PepsiCo learns a $1.26 billion lesson over misplaced letter
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2009/10/05 Deal proposed to Lehman Brothers Europe creditors
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2009/09/08 Ahead of the Bell: Consumer Credit
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2009/09/02 US appeals court upholds Internet gambling ban
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2009/08/27 Seiko Epson unit pleads guilty in price fixing case
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2009/08/19 Wells Fargo sued over home equity lines of credit
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2009/08/18 SC lawsuit against Nucor Steel can proceed
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2009/07/25 Massey drops lawsuit against WVa Supreme Court
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2009/07/10 Opponents of GM sale face noon deadline
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2009/06/09 High court puts Chrysler sale on hold
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2009/06/08 Supreme Court asked to delay Chrysler sale
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2009/05/27 Banks earned $7.6B in 1Q after record loss in 4Q
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2009/05/19 US court to review accounting oversight board case
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2009/05/15 Credit Suisse CEO facing his own late fee
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2009/05/01 GM, Chrysler Dealer Groups Retain Law Firms
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2009/04/30 Court Revives Rendition Lawsuit Against Boeing Unit
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2009/04/29 Fed court revives rendition lawsuit against Boeing
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2009/04/28 Judge upholds $100M Mattel verdict over Bratz
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2009/04/15 Industrial production drops more than expected
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2009/04/14 Ex-Qwest exec asks high court to delay prison term
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2009/03/23 US stocks surge on bank plan, rise in home sales
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2009/03/17 Hawaii Superferry ceases operations after ruling
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2009/03/16 Obama says US economy sound, reassures investors
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2009/03/11 Toxic-asset plan details coming, Geithner says
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2009/03/05 Nacchio ordered to report to prison March 23
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2009/02/10 Circuit City seeks incentives for wind-down
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2009/01/30 Exxon Mobil sets record with $45.2 billion profit
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2008/12/30 Fallout begins after dismal holiday season
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2008/12/23 Fed designates CIT Group as bank holding company
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2008/12/19 Lehman broker charged in insider trading case
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2008/12/19 Madoff scandal could lead to tax losses nationwide
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2008/12/11 Report: Siemens close to SEC corruption settlement
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2008/11/24 Government unveils plan to rescue Citigroup
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2008/11/20 Va. scientist pleads guilty to China tech sales
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2008/09/26 W.Va. court accepts appeals in $400m DuPont case
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2008/09/05 Comcast appeals FCC Web traffic-blocking decision
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2008/08/21 Merrill, Goldman pressured by Cuomo on auction-rate debt
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2008/08/14 Execs plead guilty to illegal Musgrove donations
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2008/07/23 HP-EDS deal price at issue in court hearing
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2008/07/11 Investment firms don't draw emergency loans
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2008/07/08 Appeals court: EchoStar not barred from lease deal
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2008/07/03 W.Va. Gov. seeks review of $400M DuPont case
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2008/05/12 MBIA loses $2.4 billion on write-downs
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2008/03/11 Fed to Lend $200 Billion More to Ease Market Strain
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2008/03/09 Sharp drop in jobs suggests US economy in recession
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2008/03/02 A glance at the top players in Enron saga
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2008/02/29 Insurer AIG Posts $5.3B Loss in 4Q
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2008/02/28 Sprint posts big loss, stops dividend
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2008/02/13 Retail sales stage unexpected rebound
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2007/12/24 US DOJ won't appeal Stolt-Nielsen decision
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2007/12/24 Shoppers rush to stores before Christmas
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2007/12/23 News Corp. to sell 8 TV stations for $1.1 billion
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2007/12/16 Investors Focus on Housing Data and Fed
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2007/11/28 Qantas plead guilty to price-fixing
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2007/11/16 Virgin Mobile sinks with wider 3Q loss
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2007/10/24 Wall Street Falls After Merrill Report
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2007/10/15 Charles Schwab 3rd-Quarter Profit Soars
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2007/10/15 Nomura to exit U.S. residential mortgage securities
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2007/10/15 Fox challenges CNBC with new biz channel
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2007/10/11 Profit Boost Perks Up Wal-Mart Shares
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2007/10/10 Treasurys Dip As Rate Cut Seems Unlikely
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2007/10/07 GE to close some plants in Brazil
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2007/10/03 Ford struggling to win back sales, share
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2007/10/01 Credit crisis strikes UBS, Citi, Credit Suisse
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2007/09/28 Qualcomm Hires Apple Lawyer; Apple Taps Oracle Lawyer
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2007/09/28 Disney Will Shut Down Cellphone Service
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2007/09/27 Wal-Mart expands $4 prescription drug program
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2007/09/27 Mutual-Fund Suit Vs Citigroup Dismissed
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2007/09/26 Vonage Gets Another Black Eye
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2007/09/20 Fed's Bernanke predicts further mortgage turmoil
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2007/09/18 Investors await Fed decision on rate cut
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2007/09/17 FCC Adopts Three-year “Dual Carriage” Requirement
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2007/09/16 EU court rejects Akzo confidentiality complaint
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2007/09/05 CNET says SEC ends stock investigation
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2007/09/02 Law firm files investor lawsuit against Motorola
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2007/08/23 Roche wins U.S. motion in Ventana bid battle
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2007/08/22 TD Ameritrade, E-Trade hold merger talks
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2007/08/20 U.S. Fed pumps $3.5 bln into financial market
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2007/08/17 US court OKs Dura sale of Atwood unit, equity plan
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2007/07/19 Fed chief says subprime losses could hit $100bn
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2007/06/29 Sony Settles $8.5 Million Class Action Suit
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2007/06/14 Colgate warns of fake toothpaste, maybe toxic
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2007/06/13 Court date set for Wild Oats-Whole Foods case
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2007/05/30 Spitzer warns about pre-takeover options trading
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2007/04/27 Stocks End Flat As Dow Sets New Record
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2007/04/26 U.S. says Pfizer unit pleads guilty to kickback
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2007/04/20 Samsung exec pleads guilty in DRAM scandal
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2007/04/18 Cytochroma settles lawsuit with Genzyme
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2007/04/11 New York seeks probe of Wal-Mart for surveillance
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2007/04/09 Chrysler Gets Big Offer from Billionaire Kerkorian
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2007/04/05 Sony drops cost of PSP handheld game device
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2007/04/02 CB Richard Ellis' Downtown Development Group
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2007/04/02 Apple unveils DRM free music on Itunes
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2007/03/29 AT&T, Verizon win government telecom contract
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2007/03/29 Data Theft Believed to Be Biggest Hack
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2007/03/26 Investors Continue to Challenge Dean Food
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2007/03/19 Recall of pet food hits close to home
President Donald Trump on Saturday ripped into Walmart, saying on social media that the retail giant should eat the additional costs created by his tariffs.
As Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses. Most economic analyses are deeply skeptical of those claims and have warned that the trade penalties would worsen inflation. Walmart warned on Thursday that everything from bananas to children’s car seats could increase in price.
Trump, in his Truth Social post, lashed out at the retailer, which employs 1.6 million people in the United States. He said the company, based in Bentonville, Arkansas, should sacrifice its profits for the sake of his economic agenda that he says will eventually lead to more domestic jobs in manufacturing.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump posted. “Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”
The posting by the Republican president reflected the increasingly awkward series of choices that many major American companies face as a result of his tariffs, from deteriorating sales to the possibility of incurring Trump’s wrath. Trump has similarly warned domestic automakers to not raise their prices, even though outside analyses say his tariffs would raise production costs.
So far, those tariffs have darkened the mood of an otherwise resilient U.S. economy. The preliminary reading of the University of Michigan survey of consumer sentiment on Friday slipped to its second lowest measure on record, with roughly 75% of respondents “spontaneously” mentioning tariffs as they largely expected inflation to accelerate.
In April, Walmart CEO Doug McMillon was among the retail executives who met with Trump at the White House to discuss tariffs. But the Trump administration went forward despite warnings and has attacked other companies such as Amazon and Apple that are struggling with the disruptions to their supply chains.
Walmart chief financial officer John David Rainey said he thinks $350 car seats made in China will soon cost an additional $100, a 29% price increase.
“We’re wired to keep prices low, but there’s a limit to what we can bear, or any retailer for that matter,” he told The Associated Press on Thursday after the company reported strong first-quarter sales.
The administration recently ratcheted down its 145% tariffs on China to 30% for a 90-day period. Trump has placed tariffs as high as 25% on Mexico and Canada due to illegal immigration and drug trafficking, harming the relationship with America’s two largest trading partners.
There is a universal baseline tariff of 10% on most countries as Trump promises to reach trade deals in the coming weeks after having shocked the financial markets in early April by charging higher import taxes based on trade deficits with other countries. Trump insists he intends to preserve the tariffs as a revenue source and that a framework agreement with the United Kingdom would largely keep the 10% tariff rate in place.
Trump has also placed import taxes on autos, steel and aluminum and plans to do so on pharmaceutical drugs, among other products.
The tariffs and Trump’s own reversals on how much he should charge have generated uncertainty across the U.S. economy, such that Federal Reserve Chair Jerome Powell has held the central bank’s benchmark rates steady until there is more clarity. Powell has warned that tariffs can both hurt growth and raise prices.
On Saturday, Trump repeated his calls for Powell to cut the benchmark rates. That could cause inflation to accelerate, but the president has maintained that inflationary pressures have largely disappeared from the economy.
Two major law firms asked separate judges Wednesday to permanently block President Donald Trump’s executive orders that were meant to punish them and harm their business operations.
The firms — Perkins Coie and WilmerHale — say the orders are unconstitutional assaults on the legal profession threaten their relationships with clients and retaliate against them based on their past legal representations or their association with particular attorneys whom Trump perceives as his adversaries.
Courts last month temporarily halted enforcement of key provisions of both orders, but the firms asked in court Wednesday for the edicts to be struck down in their entirety and for judges to issue rulings in their favor. Another firm, Jenner & Block, is scheduled to make similar arguments next week and a fourth, Susman Godfrey, is set to make its case next month.
“The entire executive order is retaliatory,” Dane Butswinkas, a lawyer who presented arguments on behalf of Perkins Coie, told a judge.
U.S. District Judge Beryl Howell did not immediately rule on the firm’s request, but she repeatedly expressed deep unease over the executive order, signaling that she was inclined to side with Perkins Coie.
She grilled a Justice Department lawyer over the government’s plans to suspend the security clearances of lawyers at the firm and asked him to respond to the suggestion that the blacklisting of disfavored law firms was similar to the “Red Scare” panic over communism decades ago. And she pressed him to explain why the Trump administration was forcing firms to disavow the use of diversity, equity and inclusion considerations in their hiring practices.
The spate of executive orders taking aim at some of the country’s most elite and prominent law firms are part of a wide-ranging retribution campaign by Trump designed to reshape civil society and extract concessions from powerful institutions. The actions have forced targeted entities, whether law firms or universities, to decide whether to push back and risk further incurring the administration’s ire or to agree to concessions in hopes of averting sanctions. Some firms have challenged the orders in court, but others have proactively reached settlements.
The executive actions have generally imposed the same sanctions against the law firms, including ordering that security clearances of attorneys be suspended, that federal contracts be terminated and that lawyers be barred from accessing federal buildings.
Even as he’s vowed to push the United States ahead in artificial intelligence research, President Donald Trump’s threats to alter federal government contracts with chipmakers and slap new tariffs on the semiconductor industry may put new speed bumps in front of the tech industry.
Since taking office, Trump has said he would place tariffs on foreign production of computer chips and semiconductors in order to return chip manufacturing to the U.S. The president and Republican lawmakers have also threatened to end the CHIPS and Science Act, a sweeping Biden administration-era law that also sought to boost domestic production.
But economic experts have warned that Trump’s dual-pronged approach could slow, or potentially harm, the administration’s goal of ensuring that the U.S. maintains a competitive edge in artificial intelligence research.
Saikat Chaudhuri, an expert on corporate growth and innovation at U.C. Berkeley’s Haas School of Business, called Trump’s derision of the CHIPS Act surprising because one of the biggest bottlenecks for the advancement of AI has been chip production. Most countries, Chaudhuri said, are trying to encourage chip production and the import of chips at favorable rates.
“We have seen what the shortage has done in everything from AI to even cars,” he said. “In the pandemic, cars had to do with fewer or less powerful chips in order to just deal with the supply constraints.”
The Biden administration helped shepherd in the law following supply disruptions that occurred after the start of the COVID-19 pandemic — when a shortage of chips stalled factory assembly lines and fueled inflation — threatened to plunge the U.S. economy into recession. When pushing for the investment, lawmakers also said they were concerned about efforts by China to control Taiwan, which accounts for more than 90% of advanced computer chip production.
As of August 2024, the CHIPS and Science Act had provided $30 billion in support for 23 projects in 15 states that would add 115,000 manufacturing and construction jobs, according to the Commerce Department. That funding helped to draw in private capital and would enable the U.S. to produce 30% of the world’s most advanced computer chips, up from 0% when the Biden-Harris administration succeeded Trump’s first term.
The administration promised tens of billions of dollars to support the construction of U.S. chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. In August, the Commerce Department pledged to provide up to $6.6 billion so that Taiwan Semiconductor Manufacturing Co. could expand the facilities it is already building in Arizona and better ensure that the most advanced microchips are produced domestically for the first time.
But Trump has said he believes that companies entering into those contracts with the federal government, such as TSMC, “didn’t need money” in order to prioritize chipmaking in the U.S.
“They needed an incentive. And the incentive is going to be they’re not going to want to pay at 25, 50 or even 100% tax,” Trump said. TSMC held board meetings for the first time in the U.S. last week. Trump has signaled that if companies want to avoid tariffs they have to build their plants in the U.S. — without help from the government. Taiwan also dispatched two senior economic affairs officials to Washington to meet with the Trump administration in a bid to potentially fend off a 100% tariff Trump has threatened to impose on chips.
If the Trump administration does levy tariffs, Chaudhuri said, one immediate concern is that prices of goods that use semiconductors and chips will rise because the higher costs associated with tariffs are typically passed to consumers.
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The Supreme Court said Monday it won’t hear an appeal from oil and gas companies trying to block lawsuits seeking to hold the industry liable for billions of dollars in damage linked to climate change.
The order allows the city of Honolulu’s lawsuit against oil and gas companies to proceed. The city’s chief resilience officer, Ben Sullivan, said it’s a significant decision that will protect “taxpayers and communities from the immense costs and consequences of the climate crisis caused by the defendants’ misconduct.”
[Image credit: Wikipedia]
The oil and gas industry is grappling with a growing number of lawsuits claiming the sector misled the public about its role in climate change. States like California, Colorado, and New Jersey are suing for billions in damages linked to wildfires, sea-level rise, and severe weather. This legal wave reflects an increasing use of courts to drive climate action globally.
Hawaii's Supreme Court allowed a lawsuit filed by Honolulu against major companies, including Sunoco, Shell, Chevron, ExxonMobil, and BP, to proceed. These corporations, many based in Texas, argue that emissions are a national issue requiring federal jurisdiction, where they have historically succeeded in dismissing such cases. Their Supreme Court appeal was declined, leaving the matter in state court.
The companies’ legal team emphasized the case's high stakes, warning that these lawsuits could undermine a critical national industry. The American Enterprise Institute echoed these concerns, suggesting the cases might empower activists to act as de facto energy regulators.
The Biden administration supported the lawsuit remaining in state court, though it noted that companies might ultimately prevail. In contrast, the incoming Trump administration is expected to adopt policies favoring the fossil fuel industry and opposing stringent environmental laws.
Honolulu claims the companies engaged in deceptive marketing under state laws, a matter the city argues falls within state jurisdiction. Meanwhile, the Supreme Court's track record on environmental regulations under its conservative majority includes limiting the EPA’s authority in cases like the regulation of power plant emissions.
Justice Samuel Alito recused himself from the appeal, likely due to his financial ties to the companies involved. This marks another high-profile climate case amidst increasing scrutiny of corporate responsibility for environmental impacts.
A looming TikTok ban could affect the millions of small businesses that use the short-video social media app to help them grow their business.
Desiree Hill, owner of Crown’s Corner Mechanic in Conyers, Georgia, started her business solo as a mobile mechanic. Sharing videos of her work on TikTok helped spread the word and she became so popular she was able to open a 9,000 square foot brick and mortar shop with five employees 18 months ago.
“Every day I get at least two to three customers that have seen me on TikTok, watched my videos and wanted to become a customer,” she said.
Though TikTok has been around only since 2016, small business owners use the platform in a variety of ways, from growing a customer base to advertising and marketing, as well as selling goods directly from the site.
According to TikTok’s own estimates, small businesses on TikTok would lose more than $1 billion in revenue in a single month if the ban goes into effect.
The Justice Department ordered the app’s China-based parent company, ByteDance, to sell TikTok or face a U.S. ban by Jan. 19, citing security concerns. The Supreme Court will take up the matter in January. President-elect Donald Trump, who takes office Jan. 20, has asked the Supreme Court for a delay.
If a ban does occur, small businesses will have to migrate to other platforms to find their customers. Instagram Reels, SnapChat and YouTube Shorts are alternatives. The good news is brands likely already have a presence there. But it may be harder to reach teens that have made TikTok their preferred social media app.
Another alternative is to build a strong database of customers that opt in to providing contact emails or phone numbers. That lets owners reach out directly to customers with promotions and other marketing messages.
But Crown Corner Mechanic’s Hill said she is worried that other sites may not have the reach that TikTok does. She has a presence on YouTube, Instagram and Facebook, but it’s not the same, she said.
“I am worried because there is no preparation for this,” she said. “It holds such a significant place in regards to my customer base and how I reach customers that if I lose TikTok, I will lose a large part of my business or I will lose my ability to grow anymore.”
Crystal Lister is the owner of Mommy and Me: The Listers, in Cypress, Texas, which offers interactive workshops about STEM education. She’s working on pivoting to YouTube for videos and Instagram Reels for teasers to direct people to YouTube, but said TikTok is easier.
“It is going to be a challenge if TikTok is banned because we’re losing kind of all the functionality you want — the ability for a video creation, the ability to spread the word via social media,” she said. “So we’ll have to use many other platforms to supplement what TikTok did in one.”
The founder and former CEO of the failed cryptocurrency lending platform Celsius Network could face decades in prison after pleading guilty Tuesday to federal fraud charges, admitting that he misled customers about the business.
Alexander Mashinsky, 58, of Manhattan, entered the plea in New York federal court to commodities and securities fraud.
He admitted illegally manipulating the price of Celsius’s proprietary crypto token while secretly selling his own tokens at inflated prices to pocket about $48 million before Celsius collapsed into bankruptcy in 2022.
In court, he admitted that in 2021 he publicly suggested there was regulatory consent for the company’s moves because he knew that customers “would find false comfort” with that.
And he said that in 2019, he was selling the crypto tokens even though he told the public that he was not. He said he knew customers would draw false comfort from that too.
“I accept full responsibility for my actions,” Mashinsky said of crimes that stretched from 2018 to 2022 as the company pitched itself to customers as a modern-day bank where they could safely deposit crypto assets and earn interest.
U.S. Attorney Damian Williams said in a release that Mashinsky “orchestrated one of the biggest frauds in the crypto industry” as his company’s assets purportedly grew to about $25 billion at its peak, making it one of the largest crypto platforms in the world.
He said Mashinsky used catchy slogans like “Unbank Yourself” to entice prospective customers with a pledge that their money would be as safe in crypto accounts as money would be in a bank. Meanwhile, prosecutors said, Mashinsky and co-conspirators used customer deposits to fund market purchases of the Celsius token to prop up its value.
Machinsky made tens of millions of dollars selling his own CEL tokens at artificially high prices, leaving his customers “holding the bag when the company went bankrupt,” Williams said.
An indictment alleged that Mashinsky promoted Celsius through media interviews, his social media accounts and Celsius’ website, along with a weekly “Ask Mashinsky Anything” session broadcast that was posted to Celsius’ website and a YouTube channel.
Celsius employees from multiple departments who noticed false and misleading statements in the sessions warned Mashinsky, but they were ignored, the indictment said.
A plea agreement Mashinsky made with prosecutors calls for him to be sentenced to up to 30 years in prison and to forfeit over $48 million, which is the amount of money he allegedly made by selling his company’s token.
Sentencing was scheduled for April 8.
Stubbornly high warranty expenses and lagging cost-cutting efforts are holding back Ford Motor Co.'s profits this year, causing the company to lower its full-year earnings guidance.
That pushed the company’s stock price down 6% in trading after Monday’s closing bell.
The Dearborn, Michigan, automaker, which reported third-quarter earnings Monday, said its net profit tumbled nearly 26% as it took $1 billion in accounting charges to write down assets for a canceled three-row electric SUV.
Ford said it made $892 million from July through September, compared with $1.2 billion it made a year earlier.
But excluding the one-time items, the company made an adjusted pretax profit of $2.6 billion, or 49 cents per share. That beat analyst estimates of 46 cents, according to FactSet.
Revenue rose 5.5% to $46.2 billion, also beating Wall Street predictions. Ford reduced its full-year pretax income guidance to $10 billion, at the low end of the $10 billion to $12 billion it expected at the end of the second quarter, spooking investors.
“Cost, especially warranty, has held back our earnings power, but as we bend that curve, there is significant financial upside for investors,” CEO Jim Farley told analysts on a conference call.
Chief Financial Officer John Lawler said warranty costs were slightly below the third quarter of last year, but still high. The company wouldn’t give numbers until it files its quarterly report with securities regulators on Tuesday but said costs will be higher than a year ago.
Ford reported $800 million of increased warranty costs for the second quarter of this year.
Farley has been trying to get a handle on warranty costs for the past four years. In October of 2020, he said the company was working to cut quality-related repairs after glitch-prone small-car transmissions hit the automaker’s bottom line.
Ford has said that it has a $7 billion cost gap with competitors, and Lawler said Monday it has made progress on that figure. The problem is competitors, which he did not identify, are cutting costs too. “We’ve taken cost out, but we’re not doing it at a pace faster than our competition,” he told analysts.
Ford has removed $2 billion in material, freight and labor costs this year, but that was offset by warranties and inflation at its Turkish joint venture, he said.
He said Ford is focused on reducing warranty and other costs, which will show up in later quarters.
The company’s plans are working, as evidenced by 10 straight quarters of revenue growth, Lawler said.
Farley said Ford has restructured its operations in Europe, South America, India and China, which collectively lost $2.2 billion in 2018 but together are profitable now. For instance, China, including exports, has contributed over $600 million to pretax earnings this year, Farley said.
The Supreme Court on Monday rejected an appeal from Martin Shkreli, who was once dubbed “Pharma Bro” after jacking up the price of a lifesaving drug.
Shkreli appealed an order to return $64.6 million in profits he and his former company reaped after monopolizing the market for the medication and drastically increasing its price. His lawyers argued that the money went to his company rather than him personally.
The justices did not explain their reasoning, as is typical, and there were no noted dissents.
Prosecutors, though, said the company had agreed in a settlement to pay $40 million, and because Shkreli masterminded the scheme he should bear responsibility for repaying profits.
New York Attorney General Letitia James applauded the court’s action upholding the order, which also included a lifetime ban on Shkreli working in the pharmaceutical industry.
“This win reinforces how our state’s tough anti-fraud laws help protect New Yorkers and ensure bad actors cannot abuse their power, wealth, or influence,” she said in a statement.
Thomas Huff, a lawyer for Shkreli, said the decision was disappointing. But he also said the high court could yet overturn a lower court decision that made the $64 million penalty order possible even though Shkreli hadn’t personally gotten the money.
“If and when the Supreme Court does so, Mr. Shkreli will have a strong argument for modifying the order accordingly,” he said.
Shkreli was also ordered to forfeit the Wu-Tang Clan’s “Once Upon a Time in Shaolin,” the unreleased work that has been called the world’s rarest musical album. The multiplatinum hip-hop group put a single copy of the album up for auction in 2015, on the condition that it not be put to commercial use.
Shkreli was convicted of lying to investors and cheating them out of millions of dollars in two failed hedge funds he operated. Shkreli was CEO of Turing Pharmaceuticals — later Vyera — when it raised the price of Daraprim from $13.50 to $750 per pill after obtaining exclusive rights to the decades-old drug in 2015. It treats a rare parasitic disease that strikes pregnant women, cancer patients and AIDS patients.
He defended the decision as capitalism at work, saying insurance and other programs ensured that people who need Daraprim would ultimately get it. But the move sparked outrage, from the medical community to Congress.
Shkreli was released from prison in 2022 after serving much of a seven-year sentence.
In the high-stakes showdown between the world’s richest man and a Brazilian Supreme Court justice, Elon Musk blinked.
Musk’s social media site X has complied with Alexandre de Moraes’ orders and requested its service be reestablished in the country, two sources said Thursday.
X complied with orders to block certain accounts from the platform, name an official legal representative in Brazil, and pay fines imposed for not complying with earlier court orders, his lawyers said in a petition filed Thursday, according to the sources, who are familiar with the document. The sources spoke on condition of anonymity because they were not authorized to speak publicly about the matter.
On Saturday, de Moraes ordered the platform to submit additional documentation about its legal representative for court review, which the sources said has been done.
X was blocked on Aug. 30 in the highly online country of 213 million people, where it was one of X’s biggest markets, with more than 20 million users. De Moraes ordered the shutdown after sparring with Musk for months over free speech, far-right accounts and misinformation. The company said at the time that de Moraes’ efforts to block certain accounts were illegal moves to censor “political opponents” and that it would not comply. Musk called the judge an enemy of free speech and a criminal. But de Moraes’ decisions have been repeatedly upheld by his peers — including his nationwide block of X.
In a twist, X’s new representative is the same person who held the position before X shuttered its office in Brazil, according to the company’s public filing with the Sao Paulo commercial registry. That happened after de Moraes threatened to arrest the person, Rachel de Oliveira Villa Nova Conceição, if X did not comply with orders to block accounts.
In an apparent effort to avoid her getting blamed for potential violations of Brazilian law — and risk arrest — a clause has been written into the representation agreement that any action on the part of X that will result in obligations for her requires prior instruction in writing from the company, according to the company’s filing at the registry.
It’s still early to know whether the feud between X and Brazil’s top court is over, said Bruna Santos, a lawyer and global campaigns manager at nonprofit Digital Action. However, the platform’s decision to appoint a representative indicates the company has entered “a state of good-faith cooperation with Brazilian authorities.”
And the fact that Brazilian users migrated in droves to rival platforms BlueSky and Threads may have played into X’s backstep, Santos added.
One month after a judge declared Google’s search engine an illegal monopoly, the tech giant faces another antitrust lawsuit that threatens to break up the company, this time over its advertising technology.
The Justice Department, joined by a coalition of states, and Google each made opening statements Monday to a federal judge who will decide whether Google holds a monopoly over online advertising technology.
The regulators contend that Google built, acquired and maintains a monopoly over the technology that matches online publishers to advertisers. Dominance over the software on both the buy side and the sell side of the transaction enables Google to keep as much as 36 cents on the dollar when it brokers sales between publishers and advertisers, the government contends in court papers.
They allege that Google also controls the ad exchange market, which matches the buy side to the sell side.
“It’s worth saying the quiet part out loud,” Justice Department lawyer Julia Tarver Wood said during her opening statement. “One monopoly is bad enough. But a trifecta of monopolies is what we have here.”
Google says the government’s case is based on an internet of yesteryear, when desktop computers ruled and internet users carefully typed precise World Wide Web addresses into URL fields. Advertisers now are more likely to turn to social media companies like TikTok or streaming TV services like Peacock to reach audiences.
In her opening statement, Google lawyer Karen Dunn likened the government’s case to a “time capsule with with a Blackberry, an iPod and a Blockbuster video card.”
Dunn said Supreme Court precedents warn judges about “the serious risk of error or unintended consequences” when dealing with rapidly emerging technology and considering whether antitrust law requires intervention. She also warned that any action taken against Google won’t benefit small businesses but will simply allow other tech behemoths like Amazon, Microsoft and TikTok to fill the void.
According to Google’s annual reports, revenue has actually declined in recent years for Google Networks, the division of the Mountain View, California-based tech giant that includes such services as AdSense and Google Ad Manager that are at the heart of the case, from $31.7 billion in 2021 to $31.3 billion in 2023,
The trial that began Monday in Alexandria, Virginia, over the alleged ad tech monopoly was initially going to be a jury trial, but Google maneuvered to force a bench trial, writing a check to the federal government for more than $2 million to moot the only claim brought by the government that required a jury.
The case will now be decided by U.S. District Judge Leonie Brinkema, who was appointed to the bench by former President Bill Clinton and is best known for high-profile terrorism trials including that of Sept. 11 defendant Zacarias Moussaoui. Brinkema, though, also has experience with highly technical civil trials, working in a courthouse that sees an outsize number of patent infringement cases.
The Virginia case comes on the heels of a major defeat for Google over its search engine, which generates the majority of the company’s $307 billion in annual revenue. A judge in the District of Columbia declared the search engine a monopoly, maintained in part by tens of billions of dollars Google pays each year to companies like Apple to lock in Google as the default search engine presented to consumers when they buy iPhones and other gadgets.
The Supreme Court on Wednesday kept on hold the latest multibillion-dollar plan from the Biden administration that would have lowered payments for millions of borrowers, while lawsuits make their way through lower courts.
The justices rejected an administration request to put most of it back into effect. It was blocked by the 8th U.S. Circuit Court of Appeals.
In an unsigned order, the court said it expects the appeals court to issue a fuller decision on the plan “with appropriate dispatch.”
The Education Department is seeking to provide a faster path to loan cancellation, and reduce monthly income-based repayments from 10% to 5% of a borrower’s discretionary income. The plan also wouldn’t require borrowers to make payments if they earn less than 225% of the federal poverty line — $32,800 a year for a single person.
Last year, the Supreme Court’s conservative majority rejected an earlier plan that would have wiped away more than $400 billion in student loan debt.
Cost estimates of the new SAVE plan vary. The Republican-led states challenging the plan peg the cost at $475 billion over 10 years. The administration cites a Congressional Budget Office estimate of $276 billion.
Two separate legal challenges to the SAVE plan have been making their way through federal courts. In June, judges in Kansas and Missouri issued separate rulings that blocked much of the administration’s plan. Debt that already had been forgiven under the plan was unaffected.
The 10th U.S. Circuit Court of Appeals issued a ruling that allowed the department to proceed with a provision allowing for lower monthly payments. Republican-led states had asked the high court to undo that ruling.
But after the 8th Circuit blocked the entire plan, the states had no need for the Supreme Court to intervene, the justices noted in a separate order issued Wednesday.
The Justice Department had suggested the Supreme Court could take up the legal fight over the new plan now, as it did with the earlier debt forgiveness plan. But the justices declined to do so.
“This is a recipe for chaos across the student loan system,” said Mike Pierce, executive director of the Student Borrower Protection Center, an advocacy group.
“No court has decided on the merits here, but despite all of that borrowers are left in this limbo state where their rights don’t exist for them,” Pierce said.
Eight million people were already enrolled in the SAVE program when it was paused by the lower court, and more than 10 million more people are looking for ways to afford monthly payments, he said.
Sheng Li, litigation counsel with the New Civil Liberties Alliance, a legal group funded by conservative donors, applauded the order. “There was no basis to lift the injunction because the Department of Education’s newest loan-cancellation program is just as unlawful as the one the Court struck down a year ago,” he said in a statement.