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☆ Supreme Court takes up legal spat over public officials blocking people on social media
▼ + stars: | 2023-04-24 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +4 min

WASHINGTON, DC - APRIL 19: The Supreme Court of the United States, on Wednesday, April 19, 2023 in Washington, DC. But the legal dispute is the same: Can blocking someone on social media give rise to a free speech violation under the Constitution's First Amendment? It's a recurring question that has arisen at all levels of government as elected officials increasingly use social media to interact with voters. The appeals court concluded that the elected officials were acting in their official capacities and that social media accounts are akin to a public forum. The court also rejected the officials' argument that their social media pages were not official channels for members of the public to communicate with the government.

☆ Clarence Thomas didn't recuse himself from a 2004 appeal tied to Harlan Crow's family business, per Bloomberg
▼ + stars: | 2023-04-24 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +4 min

Clarence Thomas previously said his friend Harlan Crow had no business before the court. But a case involving Trammell Crow Residential made its way to the Supreme Court in 2005, per Bloomberg. Harlan Crow was CEO of Crow Holdings from 1988 to 2017, and remains chair of its board, per Bloomberg and The Real Deal. "At the time of this case, Trammell Crow Residential operated completely independently of Crow Holdings with a separate management team and its own independent operations," the statement to Bloomberg said. Neither Harlan Crow nor Crow Holdings had knowledge of or involvement in this case, and a search of Crow Holding's legal records reveals no involvement in this case.

☆ Japan prepares to shoot down North Korea satellite if it falls on Japan
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Japanese flag flies in a park in Osaka, Japan, October 30, 2018. REUTERS/Thomas WhiteTOKYO, April 22 (Reuters) - Japan's Defence Minister Yasukazu Hamada on Saturday ordered the country's military to prepare to shoot down a North Korean spy satellite should it fall within Japan's territory. Preparations included making arrangements to deploy troops to the southern prefecture of Okinawa to "minimise damage should a ballistic missile fall." North Korean leader Kim Jong Un said preparations for the planned launch of the country's first spy satellite should proceed to counter perceived threats from the United States and South Korea, state media reported on Wednesday. Reporting by Sakura Murakami; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Suisse bondholders sue Swiss authorities
▼ + stars: | 2023-04-21 | by ( ) edition.cnn.com time to read: +2 min

Investors representing more than 4.5 billion Swiss francs ($5 billion) of Credit Suisse bonds have sued the Swiss financial regulator over its decision to wipe out their investments during last month’s emergency government-orchestrated takeover. Law firm Quinn Emanuel Urquhart & Sullivan, which is representing the bondholders, said Friday the move was the first in a series of steps to seek redress for clients it said had been unlawfully deprived of their property rights during the takeover of Credit Suisse (CS) by bigger rival UBS (UBS). The appeal against FINMA, the Swiss Financial Market Supervisory Authority, which ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north-east Switzerland. “FINMA’s decision undermines international confidence in the legal certainty and reliability of the Swiss financial center,” said Thomas Werlen, Quinn Emanuel’s Swiss managing partner. The Federal Administrative Court said it was still receiving complaints but declined to name claimants or comment on how many had been lodged by bondholders or their lawyers.

It is the first major lawsuit in the public domain to be filed over the Swiss decision to wipe out around $18 billion of Credit Suisse's Additional Tier 1 (AT1) debt during the 3 billion Swiss franc all-share rescue deal last month, which stunned markets and alerted litigators. The appeal against FINMA, the Swiss Financial Market Supervisory Authority that ordered the writedown, was filed on April 18 in the Federal Administrative Court in St Gallen, north east Switzerland. "FINMA's decision undermines international confidence in the legal certainty and reliability of the Swiss financial center," said Thomas Werlen, Quinn Emanuel's Swiss managing partner. FINMA declined to comment and Credit Suisse did not immediately respond to a Reuters request for comment. ($1 = 0.8941 Swiss francs)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ GOP senators defend Clarence Thomas' billionaire benefactor's Nazi memorabilia collection: 'Harlan Crow's a terrific person'
▼ + stars: | 2023-04-19 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

The GOP megadonor also keeps Nazi artifacts at his Dallas home, where he's hosted fundraisers. In interviews with Insider at the Capitol on Tuesday, several of them defended the Republican megadonor amid broad scrutiny of his taste in historical artifacts. The Texas senator argued that the media is "deliberately" mischaracterizing the nature of Crow's collection in order to tarnish Justice Thomas' reputation. 'He's not a drug dealer or cocaine trafficker'Crow also collects other historical artifacts, including thousands of documents, books, and historical artifacts pertaining to American history. But when asked about Crow's Nazi memorabilia and dictator sculptures, Ernst said she had "no idea" about it.

☆ AOC says there's an easy solution if Clarence Thomas wants a life of luxury: 'Resign from the court'
▼ + stars: | 2023-04-18 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

Rep. Alexandria Ocasio-Cortez weighed in on Justice Clarence Thomas' undisclosed luxury trips. Public servants who want to live a luxury lifestyle "can resign from the court," she said. Thomas reportedly took undisclosed vacations with a GOP megadonor over the past 20 years. And if they want to live that kind of lifestyle, then they can resign from the court. Host Jordan Klepper asked who she thought would write the opinion if conflicting rulings on the abortion pill mifepristone make it to the Supreme Court.

☆ GOP megadonor Harlan Crow isn't charging Clarence Thomas' mother rent. Zillow estimates suggest that would have saved her $155,000 since 2014.
▼ + stars: | 2023-04-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

GOP megadonor Harlan Crow bought SCOTUS justice Clarence Thomas' mother's house in October 2014. Thomas' mother still lives there rent-free, CNN reported. And that deal may have saved her more than $150,000 in rent for the property, according to Zillow estimates. According to Zillow's estimates for what the property would cost to rent, Williams could have saved as much as $154,900 over the years. ProPublica reported that after the sale, renovations equating to thousands of dollars were made to the home, including a repaired roof and a new carport.

☆ GOP Megadonor Harlan Crow claims he's the victim of 'a political hit job' after reporting showed he paid for Clarence Thomas' lavish vacations and bought property from him
▼ + stars: | 2023-04-17 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

GOP megadonor Harlan Crow defended his ties to Justice Clarence Thomas. "I think it's a political hit job," Crow told The Dallas Morning News. "I think it's a political hit job," Crow told Dallas Morning News columnist Cheryl Hall in his largest response to ProPublica's bombshell reports. "I don't think the media cares really much about Harlan Crow, and I think they're right. Engelberg added that the publication reached out to Justice Thomas and Crow with extensive questions about what their reporting uncovered.

☆ Sorry everyone, but Clarence Thomas can take undisclosed money from whomever he wants and there is little to be done about it
▼ + stars: | 2023-04-15 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

But Supreme Court experts told Insider there is no chance the conservative justice will be removed. The Supreme Court has little regulatory oversight and few routes for disciplining its judges. Judiciary ethics experts told Insider the bombshell ProPublica report left them "shocked" and "disturbed." Federal law requires government employees, including Supreme Court justices, to report most real estate transactions worth more than a thousand dollars. Supreme Court Associate Justice Clarence Thomas attends the ceremonial swearing-in ceremony for Amy Coney Barrett to be the U.S. Supreme Court Associate Justice on the South Lawn of the White House October 26, 2020.

☆ The Truth About Clarence Thomas’s Disclosures
▼ + stars: | 2023-04-14 | by ( James Taranto | ) www.wsj.com time to read: 1 min

Clarence Thomas lost his beloved maternal grandparents barely a month apart in the spring of 1983. Myers Anderson, whom his grandson knew as “Daddy,” died of a stroke on March 30. Christine Anderson , known as “Aunt Tina,” suffered a stroke as well and died on May 1. When they died, Mr. Thomas was 34 and chairman of the Equal Employment Opportunity Commission. “Losing Aunt Tina a month after Daddy was more painful than I could ever have imagined,” he writes.

☆ Catholic leader accuses Ron DeSantis — who has positioned himself as a defender of the Christian faith — and Florida Republicans of seeking to criminalize 'empathy' with new anti-immigrant crackdown
▼ + stars: | 2023-04-14 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

Miami Archbishop Thomas Wenski says a Republican immigration bill would criminalize "empathy." Wenski accused Florida Republicans of trying to "demonize" vulnerable people. In a statement issued Thursday, Miami Archbishop Thomas Wenski echoed that criticism, accusing Florida Republicans of playing state-level politics with a federal issue. It is not the first time that DeSantis and Florida's Republicans have run afoul of the Catholic Church. In February, the Florida Catholic Conference, which represents the state's bishops, told Insider that it opposes a DeSantis-led push to expand the death penalty.

☆ U.S. Supreme Court Justice Thomas' career marked by controversies
▼ + stars: | 2023-04-07 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

WASHINGTON, April 7 (Reuters) - Clarence Thomas' career as a U.S. Supreme Court justice began following one of the most contentious confirmation battles in Senate history and 32 years later this conservative champion continues to draw controversy. As one of the most conservative justices in a conservative-heavy Supreme Court, Thomas has been a lightning rod for liberals who have been frustrated by his rulings and his tone. Just last summer, Thomas sparked an uproar on the heels of the Supreme Court overturning the landmark Roe v. Wade ruling, which established the right to abortion. Amid outrage among Democrats in Congress, Thomas said Supreme Court precedents protecting rights to contraception, same-sex intimacy and gay marriage ought to be reconsidered in future cases. Thomas, only the second Black justice to serve on the highest U.S. court, is known for not shying away from controversy, despite an almost Sphinx-like demeanor during Supreme Court sessions.

☆ Clarence Thomas secretly went on lavish vacations in luxury jets and superyachts paid for by a GOP megadonor, report reveals
▼ + stars: | 2023-04-06 | by ( Natalie Musumeci | Oma Seddiq | ) www.businessinsider.com time to read: +5 min

A ProPublica report found Clarence Thomas has been taking vacations paid for by a GOP megadonor. A Supreme Court spokesperson did not immediately respond to Insider's request for comment on Thursday. "Justice Thomas and Ginni never asked for any of this hospitality," Crow said. "We have never asked about a pending or lower court case, and Justice Thomas has never discussed one, and we have never sought to influence Justice Thomas on any legal or political issue," he added. And unlike the rest of the federal judiciary, the Supreme Court is not bound by a code of conduct.

Raymond James is optimistic on FedEx after the shipping giant announced Wednesday a cost-cutting restructuring plan. He retained his price target of $285 per share, which implies almost 24% upside from Wednesday's close price. DRIVE is FedEx's comprehensive $4 billion cost-cutting plan which includes consolidating FedEx Ground, FedEx Express and other operating companies into FedEx Services. Analyst Thomas Wadewitz has a buy rating on shares and sees the stock rising 13%. FedEx shares were up 1.3% Thursday before the bell.

☆ Why there's almost no chance Clarence Thomas gets impeached, despite an ever-growing list of ethics violations
▼ + stars: | 2023-04-06 | by ( Ashley Collman | ) www.businessinsider.com time to read: +4 min

There are renewed calls to impeach Supreme Court Justice Clarence Thomas amid new ethics concerns. But the only way to remove a Supreme Court justice is via impeachment, and only one justice has ever been impeached. Amid the backlash, Justice Thomas did not recuse himself from any January 6 cases. Only one other Supreme Court justice has ever been impeached, and he wasn't convicted. In other words, scandals may come and go, but Supreme Court justices are for life.

☆ Clarence Thomas said he loves RVs and Walmarts in a documentary financed by the billionaire who was taking him on luxury vacations
▼ + stars: | 2023-04-06 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +3 min

Supreme Court Justice Clarence Thomas once said in a documentary that he prefers RV parks and Walmarts. A new ProPublica report found Thomas has been taking luxury vacations paid for by a GOP megadonor for years. A Supreme Court spokesperson did not immediately respond to requests for comment by Insider on Thursday. "Justice Thomas and Ginni never asked for any of this hospitality," Crow said. "We have never asked about a pending or lower court case, and Justice Thomas has never discussed one, and we have never sought to influence Justice Thomas on any legal or political issue," said Crow.

☆ Visa, MasterCard tell UK tribunal to block new mass actions
▼ + stars: | 2023-04-03 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

Visa and Mastercard are each being sued by hundreds of claimants at London's Competition Appeal Tribunal, which is currently managing the various cases together. Special purpose vehicle Commercial and Interregional Card Claims (CICC) brought another set of lawsuits against Visa and Mastercard last year, seeking damages on behalf of merchants which were allegedly overcharged. CICC is asking the tribunal to certify its cases under the United Kingdom's collective proceedings regime, which is roughly equivalent to the class action regime in the United States. But Visa and Mastercard's lawyers say the need for collective proceedings is undermined by the fact that thousands of merchants have already sued them. "These proposed collective proceedings are not, therefore, about providing access to justice to those who cannot seek it for themselves," he added.

REUTERS/Thomas White/IllustrationMUMBAI/NEW DELHI, April 3 (Reuters) - A surge in India's services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country's merchandise exports. Services exports will likely surpass goods exports by March 2025, he said. Reuters Graphics Reuters GraphicsIT services still accounted for 45% of India's total services exports in April-December. EXTERNAL SHIELDThe continued rise in services exports is likely to help rein in India's current account deficit. There is room for further growth with India's share in world commercial services exports currently just at around 4%."

☆ MLB roundup: Kodai Senga shines in debut as Mets down Marlins
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +12 min

[1/2] Apr 2, 2023; Miami, Florida, USA; New York Mets starting pitcher Kodai Senga (34) pitches against the Miami Marlins in the first inning at loanDepot Park. /Rhona Wise-USA TODAY SportsApril 3 - Right-hander Kodai Senga struck out eight batters in his major league debut, leading the New York Mets to a 5-1 win over the host Miami Marlins on Sunday afternoon. Marlins starter Trevor Rogers (0-1) lasted just 4 1/3 innings, allowing four hits, two walks and four runs, three earned. He allowed one run on three hits while walking two and striking out six in his first start of the season. Two of Houck's five hits allowed were home runs by Baltimore's Adam Frazier (3-for-4, two RBIs, two runs) and Cedric Mullins (2-for-5, run, three RBIs).

☆ Credit Suisse AT1 bondholders hire law firm for possible litigation
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 3 (Reuters) - Some holders of Credit Suisse AT1 bonds wiped out by the bank's planned merger with UBS have instructed law firm Quinn Emanuel Urquhart & Sullivan to represent them for discussions with Swiss authorities and possible litigation to recover losses. The bondholder group holds a "significant percentage of the total notional value" of the AT1 bonds, the law firm said in a statement on Monday. AT1 bonds are the riskiest type of debt banks can issue, ranking immediately after equity in the event of losses. Banks' AT1 bonds fell after the Swiss decision highlighted the risks of investing in these securities. Meanwhile, Switzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said on Sunday.

☆ Investors ride out China uncertainty in convertible bonds
▼ + stars: | 2023-03-31 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

Funds that invest in Asian convertible bonds attracted inflows of $118.1 million in January and February, data from Morningstar shows, bucking the overall outflows recorded for the more than 350 convertible bond funds it tracks globally. Convertible bonds are hybrid securities with most, like a regular bond, paying a coupon. "Some Asian convertible bonds are attractive as they offer investors comparable or better yields for a shorter duration than straight bonds, as they come with an inexpensive equity option," said Girish Kumarguru, portfolio manager at alterative asset manager, China Everbright Assets Management (0165.HK). Compared to the 6% yield paid by its regular bond, convertible bond investors get less, with current pricing implying a yield of around 2.5%. "Measures to boost consumption in China should be favourable to Asian convertible bonds as there are numerous consumer-related issuers in this region," said Skander Chabbi, head of global convertible team at BNP Paribas Asset Management based in Paris.

☆ Peter Thiel's reported romantic partner was found dead in Miami. Police are investigating as possible suicide.
▼ + stars: | 2023-03-24 | by ( Jack Newsham | ) www.businessinsider.com time to read: +3 min

Jeff Thomas, a 35-year-old actor and model, was found dead in Miami in a possible suicide. Miami police view the case as a possible suicide and plan to interview Thiel, The Intercept said. The Intercept reported that Thomas and Thiel had been seen at each others' homes, including at raucous parties. "And he did, and so he didn't support Trump in 2020. Thomas said he had doubts about his relationship with Thiel, the Intercept reported, and the two were not living together.

☆ The Justice Department investigated Jeffrey Epstein's death. Then it went silent.
▼ + stars: | 2023-03-09 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +25 min

Jeffrey Epstein's death in a federal jail was seen as a shocking Justice Department failure. But more than three years later, the office still hasn't released its report into the circumstances of Epstein's death. "We all took it by surprise," Mark Epstein told Insider. Barr tasked the Justice Department's inspector general, Michael Horowitz, and the FBI with investigating "the circumstances of Mr. Epstein's death." Mark Epstein told Insider that he spoke to his brother about once a month in the years before his death.

In a major shake-up, China will set up the new regulatory body, the National Financial Regulatory Administration (NFRA), according to a proposal that the State Council, or cabinet, presented to parliament on Tuesday. The watchdog, which will oversee all aspects of China's $57 trillion financial sector apart from the securities market, should help reduce regulatory overlap especially at the level of local government, analysts say. There are also plans, sources have said, for the revival of another high-level financial watchdog which is expected to be directly under central party leadership. 'ENHANCING CENTRALISATION'In its reform proposals presented in parliament, the State Council said the changes were meant to "deepen reforming local financial regulatory systems" by "enhancing centralised management of financial affairs". Some investors, however, are concerned that the regulatory power reshuffle means tighter government control, which may bring more interference or crackdowns on financial activity, particularly in the private sector.

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