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  • WASHINGTON, May 2- The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill. The court left in place a September 2015 ruling by the New Orleans- based 5th U.S. Circuit Court of Appeals...

  • WASHINGTON, May 2- The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill. The court left in place a September 2015 ruling by the New Orleans- based 5th U.S. Circuit Court of Appeals...

  • April 19- Bristol-Myers Squibb's cancer immunotherapy drug, Opdivo, helped advanced head and neck cancer patients with a dismal prognosis live longer than other standard treatments, according to data from a late-stage study presented on Tuesday. Opdivo treatment led to a 30 percent reduction in risk of death, with median overall survival of 7.5 months in the...

  • The U.S. Department of Transportation said on Friday it intended to grant flying rights to Norwegian Air's Irish subsidiary, potentially paving the way for cheaper fares on transatlantic flights. Norwegian Air, Europe's third-largest budget airline by passenger numbers after Ryanair and EasyJet, can afford to offer cheaper airfares than traditional...

  • NEW YORK, April 15- Nearly 70 percent of baby boomers view a gift of money as an expression of love, according to a Merrill Lynch survey released on Friday. While this may sound wonderful, it can complicate estate planning, especially if the generation receiving the inheritance sees things differently. You don't want somebody to feel less loved, " Michael Liersch,...

  • WASHINGTON, April 14- The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico. The Interior Department's Bureau of Safety and Environmental Enforcement announced the finalized regulations, which include more stringent design requirements and...

  • The eight jurors, who deliberated less than a day following a two-week trial in Manhattan, found that the ignition switch made the 2007 Saturn Sky involved in the crash on a New Orleans bridge unreasonably dangerous and that GM failed to warn about its safety risks. In the case decided on Wednesday, Dionne Spain and Lawrence Barthelemy of New Orleans said they...

  • NEW YORK, March 30- General Motors sold vehicles with a defective ignition switch, but the part was not to blame for a 2014 car accident, a U.S. jury found on Wednesday in the first verdict since the company was forced to recall millions of vehicles. The verdict on Wednesday in a two-week trial in Manhattan was announced after the eight jurors deliberated less than a...

  • NEW YORK, March 29- A lawyer for people suing General Motors over a faulty ignition switch on Tuesday urged jurors in Manhattan federal court to hold the company responsible for a 2014 accident they allege was caused by the defective part. During the two-week trial, lawyers for Dionne Spain and Lawrence Barthelemy have argued that a defective switch in Spain's...

  • March 18- When Anbang Insurance Group acquired New York's Waldorf Astoria Hotel last year, the Chinese company gained more than one of the city's most iconic buildings. This move made it easier for Taubman to meet Anbang executives visiting New York and score one of his investment banking boutique PJT Partners Inc's biggest victories: becoming sole buyside...

  • March 18- Hedge funds wounded by recent stock market gyrations may struggle to pressure companies and reap the benefits of their activist campaigns, lawyers and bankers at Tulane Law School's corporate law conference in New Orleans said this week. Ackman's Pershing Square, battered by Valeant, is off 22 percent through the middle of March, while Nelson Peltz'...

  • March 17- China's Anbang Insurance Group Co has hired a proxy solicitation firm to advise it on how Starwood Hotels& Resorts Inc shareholders view its $12.8 billion acquisition offer and prepare its next steps, people familiar with the matter said. Anbang has hired proxy solicitation firm Georgeson Inc, which has already started to contact Starwood...

  • LONDON, March 15- Phantom stocks are the bane of every analyst's life. Everyone knows that there is always more metal out there than shows up in exchange stocks. Zinc bulls have been repeatedly caught off-guard by the sudden appearance of phantom stocks in New Orleans, where metal has been riding a long-running carousel between on- and off-LME storage.

  • NEW YORK, March 11- The U.S. Bureau of Safety and Environmental Enforcement suspended drilling operations at a rig in the Gulf of Mexico on Friday after it responded to a reported fatality, it said in a statement. The platform, some 150 miles south of New Orleans, is operated by offshore oil and gas operator Whistler Energy II, which reported that the offshore worker...

  • March 11- BP Plc does not have to face U.S. lawsuits by energy and drilling companies over losses they suffered from an offshore drilling ban imposed soon after the 2010 Gulf of Mexico oil spill, a federal judge ruled. District Judge Carl Barbier in New Orleans agreed with BP that federal law absolved the British oil company from liability for the Obama...

  • March 10- Two big New York law firms that represented the now-imprisoned financier Allen Stanford persuaded a federal appeals court on Thursday to throw out a lawsuit claiming that they helped conceal his $7.2 billion Ponzi scheme. Reversing a lower court ruling, the 5th U.S. Circuit Court of Appeals in New Orleans said Chadbourne& Parke and Proskauer Rose were...

  • March 4- The year-old bankruptcy of Caesars Entertainment Operating Co Inc has been marred by complex litigation over everything from the date the casino operator entered Chapter 11 to billion-dollar creditor disputes with the parent, Caesars Entertainment Corp.. *Conducted by Richard Davis, a litigator and former Watergate prosecutor, and a team of...

  • NEW YORK Feb 19- Nestor Molina has made a living looking for Honduran workers to pick fruit in Florida. Molina, 53, is among the middlemen hired by companies to help bring foreign workers to the United States for temporary jobs. The jobs span almost every industry, from agriculture to hospitality, and the numbers of foreign workers brought to the United States have...

  • CBS and other media companies are under pressure to show that they can survive and thrive as younger viewers turn away from traditional television. CBS will continue "business as usual," he told analysts. Advertising at the CBS network was up 8 percent, but local television stations faced difficult comparisons with a year earlier, when they had strong political...

  • CBS has been making efforts to rely less on advertising revenue, which can be volatile due to its dependence on popular sporting or political events. CBS, home to shows such as "Supergirl," "The Late Show with Stephen Colbert" and "NCIS: New Orleans," said total revenue rose 6.2 percent to $3.91 billion in the fourth quarter. Net income from continuing operations fell to...