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Commercial and Professional Services Professional Services

  • Charlie Munger, Berkshire Hathaway

    Billionaire Charlie Munger told a small group of investors the strategy of buying only service company stocks made former vice president Al Gore very wealthy.

  • BRUSSELS, June 21- Tax advisers in the European Union risk fines for helping companies to cut their tax bills by shifting profits to low-tax countries, if proposed new EU legislation gets approval. Under the draft law, proposed by the European Commission on Wednesday, tax advisers including the Big Four accounting firms, banks and lawyers, would be required to...

  • Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York.

    Johnson & Johnson is seizing upon a U.S. Supreme Court ruling from Monday limiting where injury lawsuits can be filed to fight off claims it failed to warn women that talcum powder could cause ovarian cancer.

  • A fifth of the plaintiffs have cases pending in state court in St. Louis, where juries in four trials have hit J&J and a talc supplier with $307 million in verdicts. Those four cases and most of the others on the St. Louis docket involve out-of-state plaintiffs suing an out-of-state company. "We believe the recent U.S. Supreme Court ruling on the Bristol-Myers Squibb...

  • ST. LOUIS— A Supreme Court ruling this week could have a "chilling effect" on the many lawsuits filed in St. Louis claiming talcum powder causes a deadly form of cancer in women, including cases under appeal in which stricken women and their survivors have been awarded more than $300 million, experts said Tuesday. Almost immediately after the Supreme Court ruling, St....

  • DETROIT— A bankruptcy filing by Japanese air bag maker Takata will leave little money for dozens of people who sued the company over deaths and injuries caused by its exploding air bag inflators, according to outside legal experts and lawyers suing the company. Takata Corp. and its U.S. operations are likely to seek bankruptcy protection by the end of June in a...

  • SPOKANE, Wash.— Ranchers on Monday sued the U.S. Department of Agriculture, seeking to force meat to again be labeled if it's produced in other countries and imported to the United States. The lawsuit, filed in federal court in Spokane, seeks to overturn a March 2016 decision by the Department of Agriculture to revoke regulations requiring imported meat products...

  • WASHINGTON, June 19- A federal judge in San Francisco on Monday named lawyer Elizabeth Cabraser to lead the case brought against Fiat Chrysler Automobiles NV by owners over allegations it bypassed diesel emission controls. Fiat Chrysler's lead lawyer is Robert Giuffra of law firm Sullivan& Cromwell LLP, who also represented Volkswagen.

  • DUBAI, June 19- Commercial banks in the Gulf are examining their books and consulting lawyers to determine their strategies if the region's diplomatic crisis eventually forces them to sell off Qatari bonds and loans. So far, sanctions against Doha imposed by Saudi Arabia, the United Arab Emirates and Bahrain have stopped well short of compelling banks under...

  • SINGAPORE, June 16- Lee Suet Fern, managing partner of global law firm Morgan Lewis& Bockius LLP's combined practice in Singapore, has stepped down from the position to focus on her international role in the firm, sources familiar with the situation said on Friday. Lee Hsien Yang said he and his wife, Lee Suet Fern, would be leaving Singapore because they felt closely...

  • SAO PAULO, June 14- JBS SA, whose controlling shareholder recently agreed to pay the world's largest leniency fine ever, has hired lawyer Marcelo Proença to become global head of compliance, as the world's biggest meatpacker seeks to turn the page on a massive corruption scandal. Last month, Brazil's billionaire Batista family- which owns over 40 percent of JBS...

  • NEW YORK— After allegations of sexual harassment and a toxic workplace from a former employee, Uber hired former Attorney General Eric Holder and his law firm to come up with recommendations for changes. CEO Travis Kalanick told employees he was taking an unspecified leave, during which he'll work on his leadership skills. The report also recommends adding...

  • LONDON/ AMSTERDAM, June 13- Around 220,000 car drivers in the Netherlands, England and Wales joined forces on Tuesday in what could become a pan-European lawsuit against German carmaker Volkswagen seeking compensation over its "dieselgate" emissions scandal. UK law firm Harcus Sinclair and Dutch Foundation "Stichting Volkswagen Car Claim", a U.S.-style class...

  • LONDON, June 13- A group of International Bank of Azerbaijan creditors has filed an objection in a U.S. court against the state-run bank's $3.3 billion debt restructuring plan. Asset managers Fidelity Management& Research Company and Franklin Templeton Investment Management Ltd and hedge funds Promeritum Fund SPC and VR Global Partners LP are members of the...

  • June 12- The U.S. Supreme Court agreed on Monday to decide whether a federal administrative process frequently used by technology companies to ward off patent infringement lawsuits violates the constitutional rights of patent owners. The Supreme Court has said there is a right to a jury trial in disputes in which private property can be revoked.

  • DETROIT— Uber's Board of Directors has adopted a series of recommendations about the company's corporate culture from former Attorney General Eric Holder, but it was silent late Sunday on whether it would approve a leave of absence for the ride service's embattled CEO. A spokesman confirmed that the board met with Holder and Tammy Albarrán, both partners...

  • DUBAI, United Arab Emirates— Qatar has paid $2.5 million to the law firm of a former attorney general under U.S. Qatar hiring Ashcroft, who was attorney general during the Sept. 11 attacks and then helped push through the Patriot Act, appeared aimed at appeasing Washington as several Gulf nations try to isolate it. Saudi Arabia, Bahrain, Egypt and the United Arab...

  • BRUSSELS, June 8- Tax advisers in the European Union will be penalised for helping companies to set up schemes to cut their tax bills excessively by shifting profits to low-tax countries, under a draft law seen by Reuters. The measure, prepared by the EU executive, the European Commission, and still subject to changes, would force accounting firms such as...

  • NEW YORK, June 8- Every Tuesday, partners and associates at Wachtell, Lipton, Rosen& Katz gather for a communal lunch in the dining room of the law firm's Manhattan offices. Food ordered from top New York restaurants is served, but the real attraction is Martin Lipton, one of the firm's co-founders and corporate America's most famous consigliere.

  • SAN FRANCISCO, June 6- Uber Technologies Inc said on Tuesday it fired 20 employees and was improving management training following an investigation by a law firm into sexual harassment allegations and other claims at the ride-hailing company. Attorney General Eric Holder into company culture and practices. On Monday, Uber said it hired Harvard Business...