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☆ EEOC says Globe Life "created, condoned" a work environment that is hostile and abusive to women
▼ + stars: | 2024-09-27 | by ( Susan Antilla | ) www.businessinsider.com time to read: +10 min

Federal agency finds Globe Life tolerated nonconsensual touch, unwelcome genital exposure, sexual quid-pro-quos at top agency. EEOC says agents at the Globe Life agency were employees, not contractors. Equal Employment Opportunity Commission has found that Globe Life tolerated a "pervasive pattern of harassing conduct" against women at one of its top-producing sales agencies. American Income Life is one of five wholly owned subsidiaries of Globe Life that sell life, accident, and supplemental health insurance. Globe Life disclosed that risk in its filing this morning with the SEC and said it would fight any such lawsuit vigorously.

Persons: EEOC, —, Arias, Mark P, Carey, Renee Zinsky, Michael Russin, she'd, Zinsky, AIL, Sarah Reay, Matthew D, Trina Orlando, Anne Rose Dana, King, Jennifer Haworth, Simon Arias, partied, marshaling, Globe, Panda, Wilmer Hale, Matt Darden, Abeni Mayfield, Department of Justice —, Deborah A, Kane, Amy Williamson Organizations: Globe Life, Service, Commission, Business, BI, Globe, Arias Organization, Securities and Exchange Commission, Wexford, King & Spalding, Las, Department of Justice, Research, SEC Locations: Southport , Connecticut, Wexford, Pennsylvania, Morgantown , West Virginia, Las Vegas, Columbia , Maryland, Pittsburgh

Many merchants and trade groups including the National Retail Federation opposed the accord, saying card fees would remain too high, while Visa and Mastercard would retain too much control over card transactions. The decision could force Visa and Mastercard to negotiate a settlement more favorable to merchants, or go to trial. Visa and Mastercard said they were disappointed with the outcome. Some U.S. senators have promoted legislation, the Credit Card Competition Act, to let merchants use other payment networks to process Visa and Mastercard transactions. The judge's decision does not affect an earlier $5.6 billion class action swipe fee settlement among Visa, Mastercard and about 12 million merchants.

Persons: Brendan McDermid, Margo Brodie, Brodie, Nilson, Doug Kantor, Jonathan Stempel, Deepa Babington, Leslie Adler Organizations: Mastercard Inc, New York Stock Exchange, REUTERS, Companies, Mastercard, National Retail Federation, Visa, National Association of Convenience Stores, U.S, Merchant Discount Antitrust Litigation, Court, Eastern District of, Thomson Locations: New York City, U.S, Brooklyn, Manhattan, Eastern District, Eastern District of New York, New York

☆ Red Lobster, home of the endless shrimp, mulls bankruptcy after spoiling its customers with all-you-can-eat lobster: report
▼ + stars: | 2024-04-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

It may be the end of the line for the seafood chain Red Lobster, per Bloomberg. AdvertisementSeafood chain Red Lobster is considering filing for bankruptcy, Bloomberg reported Wednesday. According to the outlet, Red Lobster is being advised by the law firm King & Spalding. Red Lobster and King & Spalding did not respond to Bloomberg's requests for comment. Representatives for Red Lobster and King & Spalding did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Spalding, Red Lobster's, Ludovic Garnier, servings, Ian Borden, Borden Organizations: Bloomberg, Service, King, Spalding, Thai Union Group —, Golden Corral, Business Insider Locations: Maine

☆ Maersk quietly settled its $44 million lawsuit against the companies behind the Ever Given, the ship that blocked the Suez Canal
▼ + stars: | 2023-12-04 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Shipping giant Maersk has settled a case over the grounding of the Ever Given in the Suez Canal. When the lawsuit was first reported by Danish news site Shipping Watch in February, Maersk had sought about $44 million from several entities connected to the ship. According to Shipping Watch, Maersk had estimated that about 50 of its ships had been severely delayed by the blocking of the Suez Canal. Both Evergreen and Bernhard Schulte Ship Management have denied having any responsibility for damages, Shipping Watch reported. According to shipping news outlet Maritime Executive, the Maersk case was being closely watched by relevant companies worldwide as a potential roadmap for further litigation.

Persons: —, Moller, Bernhard Schulte, Janina von Spalding, Shoei Kisen Organizations: Shipping, Maersk, Service, Shipping Watch, Bernhard Schulte Ship Management, Bloomberg, Evergreen, Authority, Maritime Locations: Suez, Danish, Denmark, Rotterdam, Netherlands

☆ US jury awards $17.7 mln to Kraft, other producers in egg price-fixing case
▼ + stars: | 2023-12-01 | by ( Mike Scarcella | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

The damages award could be tripled under U.S. antitrust law to more than $53 million. The same jury on Nov. 21 found the egg producers liable for the alleged antitrust conspiracy after a more than five-week trial. The damages award was limited to alleged overpayments during a four-year window in the mid-2000s. The jury's liability decision held Cal-Maine accountable with other defendants, including trade associations United Egg Producers and United States Egg Marketers. The case is Kraft Foods Global Inc v. United Egg Producers Inc, U.S. District Court for the Northern District of Illinois, No.

Persons: Oscar Mayer, Heinz, General Mills, Kellogg, Brandon Fox, Jenner, Steven Seeger, Robin Sumner, Troutman Pepper Hamilton Sanders, Patrick Collins of King, Rose Acre, James King, Porter Wright Morris, Mike Scarcella Organizations: Kraft, Kraft Foods Group Inc, 3G Capital, Berkshire Hathaway Inc, Food, Nestle, Friday, Cal, Maine Foods, United Egg Producers, United States Egg, U.S, Kraft Foods Global Inc, United Egg Producers Inc, Northern, Northern District of, Jenner, Patrick Collins of King & Spalding, Arthur, Thomson Locations: Northfield , Illinois, Acre, Ridgeland , Mississippi, Maine, Cal, Northern District, Northern District of Illinois

The zoning changes doubled the size of houses allowed in Hogg Hummock. Black residents say larger homes in the community will lead to property tax increases that they won’t be able to afford. He added that their lawsuit “is wholly silent on the topic.”Attorneys for the Hogg Hummock landowners who are suing did not immediately return an email message seeking comment Thursday. About 30 to 50 Black residents still live in Hogg Hummock, founded by former slaves who had worked the island plantation of Thomas Spalding. Well over 100 Hogg Hummock residents and landowners packed those meetings to voice objections, but were given just one chance to speak to the changes.

Persons: Hogg, Hogg Hummock, discriminates “, Paul Frickey, Thomas Spalding . Organizations: Hogg Locations: SAVANNAH, Ga, — County, Georgia, McIntosh, Sapelo, Thomas, Savannah, Black

[1/3] Florida Governor and Republican presidential candidate Ron DeSantis speaks at the Republican Party of Iowa's Lincoln Day Dinner in Des Moines, Iowa, U.S., July 28, 2023. China is mentioned daily at campaign stops, in digital ads and in policy speeches by the various Republican candidates. Some 50% of Americans identify China as the greatest threat to the United States, according to a Pew Research poll released in late July. On the stump, they have said the United States must stand by Ukraine. If the United States does not confront Russia, they say, China will feel emboldened.

Persons: Ron DeSantis, Scott Morgan, Democratic Biden, DeSantis, Nikki Haley, Donald Trump, Tim Scott, Trump, Terry Sullivan, Marco Rubio's, Joe Biden, Pew, Haley, Scott, Jamieson Greer, King, Wendy Cutler, Mike Pence, Gram Slattery, David Lawder, Michael Martina, Ross Colvin, Alistair Bell Organizations: Florida Governor, Republican, Republican Party of Iowa's, REUTERS, Democratic, East, Newsweek, Justice Department, Pew Research, Trade, Spalding, U.S . Trade Representative, Trump, Heritage Foundation, Russia, China, American Enterprise Institute, Thomson Locations: Des Moines , Iowa, U.S, ROCHESTER , New Hampshire, China, United States, America, Communist China, Russia, Iran, Beijing, Washington, Ukraine

Banks typically provide research to clients as part of a broader offering of services, but that changed when the European Union introduced the Markets in Financial Instruments Directive (MiFID) II laws in 2018 to improve transparency. "It took about a year for us to become compliant to MiFID II laws -- it was a long, intense process," said Candace Browning, head of BofA Global Research. U.S. financial firms were initially given an exemption by the U.S. Securities and Exchange Commission, which expires on July 3. "Companies continue to face challenges complying with the MiFID II unbundling requirement and U.S. law," said Joe Corcoran, SIFMA's managing director and associate general counsel for capital markets. 'EXPENSIVE AND COMPLICATED' In Europe, asset managers under MiFID II are not allowed to pay for research through broker commissions on trading -- instead, investors are billed separately by banks for research.

Persons: Banks, Candace Browning, Joe Corcoran, SIFMA's, SIFMA, MiFID, Michael Eastwood, Jefferies, Jesse Forster, BofA, salespeople, Browning, Forster, Russell Sacks, Nupur Anand, Lananh Nguyen, Deepa Babington Organizations: YORK, Bank of America Corp, Jefferies Financial, European Union, Financial, BofA Global, U.S . Securities, Exchange Commission, Securities Industry, Financial Markets Association, SEC, Jefferies, Coalition, King, Spalding, Thomson Locations: Europe, U.S, Greenwich, Coalition Greenwich, New York

This spike bodes well for the IPO market, bankers say, because both new listings and secondary stock sales rely on strong demand from equity investors. "Historically, follow-on activity of this magnitude should lead to animal spirits in the IPO market," said Daniel Burton-Morgan, head of Americas syndicate for equity capital markets at Bank of America Corp (BAC.N). The IPO market has been in the doldrums since the start of 2022, when Russia's invasion of Ukraine and a spike in inflation fueled a bout of market volatility as investors fretted over U.S. interest rate hikes. The week of June 5 saw 19 follow-on and secondary stock sales in the United States, totaling proceeds of $6.6 billion, one of the highest weekly tallies since the end of 2021. IPO HOPEFULSMajor companies are waiting in the wings to launch their market debut come September, when the IPO window traditionally opens after a summer lull.

Persons: Daniel Burton, Morgan, Goldman Sachs, Electric's, Alex Wellins, Keith Townsend, Echo Wang, Lance Tupper, Greg Roumeliotis, Sam Holmes Organizations: YORK, LSEG, Intelligence, Bank of America Corp, Dealogic, Reuters Graphics, Federal, Goldman, Intel Corp, GE Healthcare Technologies, SoftBank Group Corp, chipmaker, Holdings, Blueshirt, King, Spalding, Thomson Locations: United States, Ukraine, Cava, New York

☆ Kim Kardashian, Floyd Mayweather can’t evade EMax crypto investors’ claims, judge says
▼ + stars: | 2023-06-07 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Pierce, who allegedly received nearly $250,000 in EMax tokens as payment for touting the investment, paid $1.4 million in February to settle the SEC’s allegations of deceptive securities promotion. The new ruling, Masson said, should serve as a blueprint for crypto investors who contend they were duped by celebrity promoters. The beefed-up amended complaint convinced the judge that investors had plausibly accused the celebrity influencers of doing just that: exerting influence over their followers by endorsing EMax tokens. Fitzgerald’s previous decision dismissing claims against Kardashian and the other EMax promoters, Masson said, might have created an impression that celebrities can’t be held responsible for allegedly deceptive crypto touting. “You cannot get away with this.”Read more:Kim Kardashian, other celebrities beat EMax crypto investors' lawsuitKim Kardashian pays $1.26 million fine for paid crypto ad, SEC saysOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Kardashian, Michael Fitzgerald, Kardashian, Floyd Mayweather, famer Paul Pierce, Mayweather, Pierce “, ”, Fitzgerald, Hyping, you’ve, Scott, “, ” Fitzgerald, Michael Rhodes, Cooley, Pierce, Joel Weiner, Katten Muchin Rosenman, James Sanders, Reed Smith, influencer Logan Paul, Paul, King & Spalding, Sean Masson, Scott —, Kardashian —, EMax, Masson, ’, can’t, ” Masson, ” Read Organizations: District, Los, NBA, famer, U.S . Circuit, Securities, Exchange Commission, King &, SEC, Thomson, Reuters Locations: California, “, Florida

The Paul, Weiss, Rifkind, Wharton & Garrison partner is well-known for representing blue chip clients like Amazon in cases with millions or even billions of dollars on the line. "Widely considered one of the most preeminent litigators of his generation," is how his Paul Weiss bio puts it. Average profits per partner at Paul Weiss last year were $5.73 million, according to The American Lawyer. The case made national headlines, and the ex-judge, Roy Pearson Jr, was subsequently sanctioned by the D.C. Court of Appeals. In a statement filed with the court, Isaacson and McCrocklin's lawyer said the two sides' positions "are both extremely well-known to each other and seemingly very entrenched."

Organizations: & & '

☆ Ex-federal judge Yeakel joins law firm King & Spalding in Austin
▼ + stars: | 2023-05-01 | by ( Chinekwu Osakwe | Thomson Reuters | Chinekwu Osakwe Covers Legal Industry News With A Focus On Midsize Law Firms. Reach Her At Chinekwu.Osakwe Thomsonreuters.Com. | ) www.reuters.com time to read: +1 min

(Reuters) - A former federal judge in Austin, Texas, has joined King & Spalding's trials and global disputes practice group, the law firm said Monday. He said the governor's order violated federal law and would put children with disabilities at risk. Yeakel, who was appointed in 2003 by President George W. Bush and announced his retirement in March, will counsel clients on "all facets of the dispute process," and represent them in court, according to King & Spalding. Yeakel said in a statement King & Spalding has a strong dispute practice and a growing Austin office. Read more:King & Spalding hires ex-prosecutor in N.Y. amid investigations pushMaryland federal judge joins Gibson Dunn after leaving bench at 47Federal judge leaves Chicago bench for Latham law firmOur Standards: The Thomson Reuters Trust Principles.

☆ If China invades Taiwan, we're going to see an economic cut, says Retired Gen. Robert Spalding
▼ + stars: | 2023-04-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf China invades Taiwan, we're going to see an economic cut, says Retired Gen. Robert SpaldingRetired U.S. Air Force Brigadier Gen. Robert Spalding joins 'Squawk Box' to discuss the economic fallout of a potential U.S.-China decoupling.

☆ I made $1 million in revenue from documenting my life with chickens on social media. Here's how I turned my blog into an empire.
▼ + stars: | 2023-04-03 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +8 min

Lisa Steele is a blogger and small-business owner who made more than $1 million in revenue in 2022. Now, I'm earning more than $1 million in revenue annually through book royalties, brand deals, and a backyard-poultry product line. I might have a phone call about products we're launching or about a new brand I'm working with, or I might design product labels or do research for a blog post. When I'm working on a book, and I've written seven in the last decade, I schedule social media as much as I can to give myself larger blocks of time to concentrate on writing. My time is super flexible, so I can live my life and still have a successful brand.

☆ Wayne Shorter, master composer of jazz, dies aged 89
▼ + stars: | 2023-03-02 | by ( William Schomberg | ) www.reuters.com time to read: +2 min

[1/3] U.S. Jazz saxophonist Wayne Shorter performs onstage during a 'tribute to Miles Davis evening' at the 45th Montreux Jazz Festival in Montreux July 13, 2011. REUTERS/Valentin FlauraudMarch 2 (Reuters) - American saxophonist Wayne Shorter, who wrote some of jazz's most acclaimed compositions and whose often plaintive playing changed the sound of jazz in the 1960s before he explored rock-fusion, died on Thursday aged 89. "The master writer to me, in that group, was Wayne Shorter," the keyboardist said. "Wayne was one of the few people who brought music to Miles that didn't get changed." Other hit records included "Native Dancer" featuring Brazilian singer Milton Nascimento which mixed jazz, rock and funk with Brazilian rhythms.

☆ DEI Spells Death for the Idea of a University
▼ + stars: | 2023-02-11 | by ( Matthew Spalding | ) www.wsj.com time to read: 1 min

The first object of government, James Madison tells us in Federalist 10, is the protection of “the diversity in the faculties of men.” By diversity, Madison meant different opinions to be encouraged to preserve liberty. Equity is an ancient legal concept of justice in particular cases, developed over centuries of English common-law practice. Inclusion simply means to make a part of, as in defining a mathematical set by what it does and doesn’t include. All good words with respectable origins. Yet in true Orwellian fashion, they have been redefined.

☆ China spy balloon was more psychological than informational, says Sempre CEO
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina spy balloon was more psychological than informational, says Sempre CEORobert Spalding, Sempre CEO, joins 'Squawk Box' to discuss the latest in the Chinese spy balloon saga, Biden's comments on the issue, and more.

☆ US-China Tech War: How Money for Semiconductor Factories Costs Americans
▼ + stars: | 2023-01-19 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +15 min

If the first Cold War was defined by the development of nuclear weapons, this Tech Cold War is defined by the computer chip. The massive Intel plant in Ohio is a key part of the race with China for the future of tech. Even before the Intel plant, the Columbus area was well acquainted with these sorts of trade-offs. But, the Ohio State study found, Columbus' residential tax-abatement programs did little to meaningfully address the housing problem, while draining the city's funds. Federal, state, and local subsidies add up to billions of dollars that Intel is saving on its new Ohio semiconductor factory.

☆ Who is Robert Hur? Special Counsel looking into Biden’s classified documents
▼ + stars: | 2023-01-12 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +2 min

WASHINGTON — Robert Hur, named Thursday by Attorney General Merrick Garland to oversee the investigation into President Joe Biden's handling of classified documents, is a former federal prosecutor who has worked with many Republicans throughout his law enforcement career. Garland appointed Hur as special counsel on Thursday after the White House acknowledged that Obama administration documents with classified markings were found in one of Biden’s Delaware homes. On Monday, the White House said that similar documents had been found in a Washington office. Hur has served as a partner at the law firm Gibson, Dunn & Crutcher since April 2021 where he has focused on enforcement, investigations and litigation. In between his jobs at the Justice Department, Hur worked at another private law firm, King & Spalding.

It said 80% of its close to $8 trillion in assets are in its index funds, which primarily attract retail investors. Vanguard's biggest competitors, BlackRock Inc (BLK.N) and State Street Corp's (STT.N) asset-management arm, rely more on institutional investors including pension funds and foundations. Many retail investors are also interested in matters like climate change, but prioritize them less in building retirement portfolios, said Rosenbluth and other industry analysts. A FINRA Investor Education Foundation study of retail investors last March found only 9% of respondents held ESG investments. A big factor behind this gap is retail investors' lack of familiarity or knowledge about ESG products, the study found.

The effort, known as the Net Zero Asset Managers (NZAM) initiative, was launched in late 2020 to encourage fund firms to reach net zero emission targets by 2050 and limit the rise in global temperatures. As of Nov. 9, NZAM counted 291 signatories representing some $66 trillion in assets under management. As recently as May Vanguard was touting commitments it had made in line with NZAM's goals. Vanguard said the change "will not affect our commitment to helping our investors navigate the risks that climate change can pose to their long-term returns." "Vanguard was never serious about implementing its net zero commitment" Cuvelier said in a statement.

☆ New Guidelines Could Signal Tougher Approach From Foreign Investment Review Body
▼ + stars: | 2022-10-20 | by ( Richard Vanderford | ) www.wsj.com time to read: +3 min

The enforcement guidelines issued Thursday are a first for the Committee on Foreign Investment in the U.S., or Cfius, which previously had no written guidelines on the topic. The new guidelines provide more specifics on how Cfius might use that enforcement power and came with a caution for businesses. The guidelines said Cfius would also look at the harm the conduct caused and whether it was negligent or deliberate. In deciding on penalties, Cfius would take into account violators’ compliance resources—legal counsel, consultants, auditors and monitors—as well as its compliance culture. The Foreign Investment Risk Review Modernization Act, passed in 2018 with an eye on China, gave Cfius more resources and a broader purview.

☆ Dubai courier firm Aramex buys Florida e-commerce company MyUS for $265 mln
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Oct 19 (Reuters) - Dubai-listed courier firm Aramex (ARMX.DU) said on Wednesday it had bought Florida-based e-commerce company Access USA Shipping LLC (MyUS) for about $265 million in an all-cash deal. Abu Dhabi sovereign wealth fund ADQ holds a 22.32% stake in Aramex, transferred to ADQ-owned Abu Dhabi Ports in January. Abu Dhabi Ports made its stock market debut in February, raising 4 billion dirhams ($1.09 billion). Citi was financial adviser and Cravath, Swaine & Moore legal adviser to Aramex. UBS was financial adviser and King & Spalding legal adviser to all sellers, including an affiliate of Palm Beach Capital, a Florida-based private equity firm, Aramex said.

☆ Gregg Costa, a judge who quit the conservative Fifth Circuit appeals court, is joining the law firm Gibson Dunn
▼ + stars: | 2022-09-03 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

Former federal judge Gregg Costa is about to join Gibson Dunn in a senior role, Insider has learned. Gregg Costa, a prosecutor-turned-federal judge who announced that he would return to private practice earlier this year, is joining Gibson Dunn, a person familiar with the matter told Insider. Costa clerked for the conservative Supreme Court justice William Rehnquist and was appointed by President Barack Obama, first as a district court judge in Galveston, Texas and later as an appeals judge. Before becoming a judge, Costa was an associate attorney at the law firm Weil Gotshal & Manges and a federal prosecutor in the Southern District of Texas. Federal courts in Texas and the Fifth Circuit have been top legal battlegrounds for President Joe Biden.

☆ Famed litigator Randy Mastro is joining King & Spalding after more than 20 years of representing big clients for Gibson Dunn, from Chris Christie to James Dolan
▼ + stars: | 2022-08-16 | by ( Jack Newsham | ) www.businessinsider.com time to read: +4 min

Randy Mastro, a fixture at Gibson Dunn since 1998, is leaving the firm, four people told Insider. Star attorney Randy Mastro is leaving Gibson Dunn & Crutcher after more than 20 years, four people told Insider. Mastro has spent more than two decades at Gibson Dunn, which he first joined in 1989. By 2014, Chevron had run up a $32 million tab with Gibson Dunn, a bill it tried to make Donziger pay, according to Reuters. Do you know Randy Mastro or more about why he left Gibson Dunn?

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