US: Law and Regulation
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The USDA is likely to approve a horse slaughtering plant in New Mexico in the next two months, which would allow equine meat suitable for human consumption to be produced in the United States for the first time since 2007. The NY Times reports.
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March 1- Chesapeake Energy Corp said the U.S. Securities and Exchange Commission was investigating the company and Chief Executive Aubrey McClendon and had issued subpoenas for information and testimony.
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March 1- Chesapeake Energy Corp said the U.S. Securities and Exchange Commission was investigating the company and Chief Executive Aubrey McClendon and had issued subpoenas for information and testimony.
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Former Italian Prime Minister Silvio Berlusconi is under investigation on suspicion of bribing a senator to change sides in parliament, deepening the legal troubles of one of the key players in the country's post-election deadlock.
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*FTC probing Office Depot/ OfficeMax deal, Tesoro refinery buy. WASHINGTON, Feb 28- President Barack Obama is to name Edith Ramirez, once his colleague at the Harvard Law Review, as chairwoman of the Federal Trade Commission, the FTC said on Thursday.
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HOUSTON, Feb 28- Southern California Edison, operator of the shuttered San Onofre nuclear plant in California, and its regulators are discussing ways the utility can avoid a lengthy public airing of problems that led to a year-long shutdown of the twin reactors.
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BRUSSELS, Feb 28- EU competition regulators plan to fine Microsoft Corp before the end of March in a case tied to the U.S. software giant's antitrust battle in Europe more than a decade ago, three people familiar with the matter said on Thursday.
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BRUSSELS, Feb 28- EU competition regulators plan to fine Microsoft before the end of March in a case tied to the U.S. software giant's antitrust battle in Europe more than a decade ago, two people familiar with the matter said on Thursday.
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WASHINGTON, Feb 28- Keyuan Petrochemicals Inc, a China- based petrochemical company, agreed to pay $1 million to settle accounting violations with the U.S. Securities and Exchange Commission, the agency said on Thursday. The SEC also accused the company of maintaining an off-balance-sheet account to pay bonuses to senior officers and fund other expenses.
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*Operating profit 3.5 bln stg, highest for five years. LONDON, Feb 28- Bowing to political and regulatory pressure, part-nationalised Royal Bank of Scotland said on Thursday it will cut down the size of its already shrunken investment bank and sell off a stake in its U.S. business Citizens.
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Borrowers whose homes were foreclosed on during the U.S. housing crisis will start receiving payments in April from a $3.6 billion fund under a previously announced settlement with 13 banks, regulators said on Thursday.
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Feb 28- A New Jersey jury on Thursday ordered Johnson& Johnson to pay $7.76 million in punitive damages to a South Dakota nurse who claimed harm from the company's now-recalled Prolift vaginal mesh. The lawsuit, in Atlantic City Superior Court, was brought by Linda Gross, 47, of Watertown, South Dakota, in November 2008.
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More than 200 companies have signed on to a supporting brief calling for the Supreme Court to overturn part of the Defense of Marriage Act. The NYT reports.
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WASHINGTON, Feb 28- U.S. regulators on Thursday filed paperwork in settlements with more than a dozen banks to end case-by-case reviews of past foreclosures, and said borrowers eligible to receive payments under the deal will be contacted by the end of March.
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TORONTO, Feb 28- Canadian Imperial Bank of Commerce reported a 4 percent drop in quarterly profit on Thursday due largely to a C $148 million charge for a legal settlement with bankrupt U.S. bank Lehman Brothers.
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SEOUL, Feb 28- A Tokyo court on Thursday ruled in favour of Apple Inc in a patent lawsuit over mobile devices filed by Samsung Electronics, the South Korean firm said. The world's top two smartphone makers are engaged in a global legal battle over patents on smartphones and tablets, as they vie to win customers in the lucrative mobile market.
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NEW YORK, Feb 27- Argentina faced tough questions on Wednesday from a U.S. appeals court over its stance toward a group of dissident bondholders, a legal showdown that has sparked fears the country could have its second massive debt default in 11 years.
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NEW YORK, Feb 27- A federal bankruptcy judge approved the liquidation plan for Dewey& LeBoeuf on Wednesday, a milestone in the winding down of the collapsed law firm that paves the way for creditors to recover tens of millions of dollars.
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There have been instances in class-action history of lawsuits based on grievances that range from the questionable to the bizarre. Here are just a few.
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Occupy the SEC, a subset of Occupy Wall Street that focuses on financial regulators such as the Securities and Exchange Commission, said it wants a federal court to order regulatory agencies to put out final regulations to enforce the Volcker rule, as the ban on speculation by banks is known.