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Investors are using provisions in Delaware corporate law to demand internal Fox records to investigate how Fox's leaders acted as its Fox News network aired segments on Trump's false claims that he lost the 2020 presidential election due to voter fraud, two sources confirmed. In moves not previously reported, shareholders are looking for records such as board minutes, emails and texts that may contain evidence that Fox directors and executives were derelict by allowing the network to air the false claims. It was not clear how many Fox shareholders are pursuing information demands. Fox has argued that Dominion's case falls short of proving actual malice and its damages request is "untethered from reality." If Fox prevails in the Dominion case, the shareholders' cases would not be as strong, said Ann Lipton, a professor at Tulane University Law School.

☆ Bank of America's top global strategist warns there's 'plenty of room for more S&P 500 downside' as 80% of recessions since 1933 have torpedoed stocks by 20% after they started
▼ + stars: | 2023-04-15 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Hartnett says S&P 500 EPS will fall by 16% in 2023, compared to the market's view of -4%. Some argue that stocks have already priced in a recession, having fallen 20% in 2022 (though the S&P 500 has rallied 8% year-to-date). He continued: "Plenty of room for more S&P 500 downside…since 1929, 2/3 of the S&P 500 peak-to-trough drawdowns have occurred during, not before, US recessions." So whether we have an economic recession or not it isn't as important as the earnings recession," he said. Most strategists see a more mild decline in store for stocks, and most — including Wilson — see the S&P 500 finishing the year somewhere near 4,000.

☆ L&G's fund arm to back climate votes at U.S., Canadian banks
▼ + stars: | 2023-04-13 | by ( Simon Jessop | ) www.reuters.com time to read: +2 min

LGIM, insurer Legal & General's (LGEN.L) fund arm, which manages more than $1.5 trillion, said it was going public ahead of the banks' meetings as part of an escalation strategy after backing several climate votes last year. "Accordingly, we believe our support of many of these resolutions – depending always on the specifics of their drafting language and advisory or binding nature – is warranted." It would also back votes calling for a report on how the bank is aligning its financing activities with its 2030 targets at Toronto-Dominion Bank (TD.TO), Bank of America, Wells Fargo, Goldman Sachs, JPMorgan Chase and Morgan Stanley. "We believe detailed information on how a company intends to achieve the 2030 targets they have set... can further focus the board's attention on the steps and timeframe involved and provides assurance to stakeholders," LGIM said. ($1 = 0.7993 pounds)Reporting by Simon Jessop Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

MEMPHIS, Tennessee, April 12 (Reuters) - Local government officials in Memphis, Tennessee, voted on Wednesday to return the second of two Democratic state lawmakers who were expelled last week for protesting gun violence on the chamber floor. Seven of the board's 13 councilors were present for the meeting, and all seven voted in favor of Pearson's return. He is expected to return to the State Capitol in Nashville on Thursday to be sworn back in. Democrats in the U.S. Senate have asked the U.S. Department of Justice to investigate whether the expelled lawmakers' constitutional rights were violated. Before marching with supporters to the commissioners' meeting, Pearson, joined by Jones and Johnson, addressed a crowd of about 500 outside the National Civil Rights Museum in Memphis.

☆ Memphis may send second expelled Tennessee lawmaker back to statehouse
▼ + stars: | 2023-04-12 | by ( Jonathan Allen | ) www.reuters.com time to read: +3 min

April 12 (Reuters) - Local officials will meet in Memphis, Tennessee, on Wednesday to decide whether to return the second of two Democratic state lawmakers who were expelled last week for protesting gun violence on the chamber floor. In a rare rebuke, Republicans who control the state House of Representatives voted to kick out Justin Jones and Justin Pearson, two Black men who had recently joined the legislature, over their rule-breaking protest on the House floor on March 30. "I believe the expulsion of State Representative Justin Pearson was conducted in a hasty manner without consideration of other corrective action methods," Lowery said in a statement. Johnson, who unlike Jones and Pearson did not use a megaphone during the protest, narrowly escaped also being expelled. Tennessee's House Republicans, who have a supermajority, have said this week they will "welcome" back any expelled state lawmakers returned by county-level governments, so long as those members follow the legislature's rules.

[1/2] Donald Trump (R) speaks to media mogul Rupert Murdoch as they walk out of Trump International Golf Links in Aberdeen, Scotland, June 25, 2016. REUTERS/Carlo AllegriApril 11 (Reuters) - A Fox Corp (FOXA.O) shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits. The lawsuit seeks damages for the company from Rupert Murdoch, his son and Fox Chief Executive Lachlan Murdoch, and fellow directors Chase Carey, Roland Hernandez and Jacques Nasser. Fox has argued that election-rigging claims by Trump and his lawyers were inherently newsworthy and protected by legal doctrines concerning press freedom. The shareholder lawsuit cited filings in the Dominion lawsuit, which said Murdoch had acknowledged under questioning from Dominion lawyers that some Fox hosts had "endorsed" the idea that the election was stolen.

April 11 (Reuters) - Florida Governor Ron DeSantis's newly formed oversight board is seeking to assert control over development in two cities where Walt Disney World Resort is located, the latest twist in a battle for authority over the company's Florida theme parks. A resolution, seen on Tuesday by Reuters, would give the Central Florida Tourism Oversight District board the power to review and evaluate development in the 25,000-square acres of property in and around Walt Disney Co's (DIS.N) theme parks. The district would hold "superior authority and control" over planning, zoning and other land use in the cities of Bay Lake and Lake Buena Vista, under a Florida law that formed the state-appointed oversight board. A spokesperson for Lake Buena Vista and Bay Lake did not respond to Reuters' request for comment. A spokesperson for the oversight board referred inquiries to an attorney, who was not immediately available for comment.

☆ Oklahoma to vote on first religious charter school in US
▼ + stars: | 2023-04-11 | by ( Brad Brooks | ) www.reuters.com time to read: +4 min

April 11 (Reuters) - An Oklahoma school board is set to vote on Tuesday on whether the state will allow the first taxpayer-funded religious charter school in the U.S. - a decision that promises to ignite a legal battle testing the concept of separation of church and state. The Statewide Virtual Charter School Board will vote on an application backed by the Catholic church for the creation of St. Isidore of Seville Catholic Virtual School, planned by its organizers to offer an online education for kindergarten through high school initially for 500 students and eventually 1,500. The board is a state entity that considers applications for charter schools - publicly funded but independently run - that operate virtually in Oklahoma. Laser disagreed and said her organization would fight the Catholic church in any court over St. Isidore and any other publicly funded religious school. "There is an attack being waged on public schools in Oklahoma, and that attack is to convert public schools into religious schools," Laser said.

☆ Texas Gov. Greg Abbott says he will pardon an Army sergeant who was convicted for shooting a Black Lives Matter protester ‘as soon as it hits my desk’
▼ + stars: | 2023-04-09 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

A jury unanimously convicted Perry on murder charges on Friday. Greg Abbott on Saturday said he will work "swiftly" to pardon an Army sergeant who was recently convicted of shooting and killing a Black Lives Matter protester. Daniel Perry for the shooting death of Garrett Foster, 28, at a 2020 Black Lives Matter protest in Austin, Texas. Perry then shot Foster five times with a revolver before driving away, the American-Statesman reported. "I look forward to approving the board's pardon recommendation as soon as it hits my desk," Abbott said in Saturday's tweet.

☆ Ron DeSantis takes aim at Disney, vows to void Florida theme park development agreement
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

April 8 (Reuters) - Florida Governor Ron DeSantis ramped up his fight against Walt Disney Co (DIS.N), seeking to void an agreement that Disney passed to limit the power of a board appointed by DeSantis to oversee its Florida theme park property. On Thursday in remarks made at Hillsdale College in Michigan, DeSantis said the legislature would void changes Disney made shortly before it lost control of the board. And so come hell or high water, we're going to make sure that policy of Florida carries the day," the Florida governor said. Florida lawmakers passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "What Disney has tried to do is they have tried to say that they should be able to operate outside the context of our constitutional system in Florida," DeSantis said on Thursday.

☆ DeSantis seeks to void Disney's Florida board agreement
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Walt Disney World photographer holds a Pride rainbow-coloured Mickey Mouse cutout before the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio JonesApril 8 (Reuters) - Florida Governor Ron DeSantis ramped up his fight against Walt Disney Co (DIS.N), seeking to void an agreement that Disney passed to limit the power of a board appointed by DeSantis to oversee its Florida theme park property. On Thursday in remarks made at Hillsdale College in Michigan, DeSantis said the legislature would void changes Disney made shortly before it lost control of the board. Florida lawmakers passed a bill in February giving DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "What Disney has tried to do is they have tried to say that they should be able to operate outside the context of our constitutional system in Florida," DeSantis said on Thursday.

☆ Oklahoma eyes first US religious charter school after Supreme Court rulings
▼ + stars: | 2023-04-06 | by ( John Kruzel | ) www.reuters.com time to read: +6 min

REUTERS/Jonathan ErnstApril 6 (Reuters) - An Oklahoma school board is set to consider next week whether to approve the first taxpayer-funded religious charter school in the United States in a move that follows recent U.S. Supreme Court rulings expanding religious rights. The board is a state entity that considers applications for charter schools - publicly funded but independently run - that operate virtually in Oklahoma. They estimated that it would cost Oklahoma taxpayers up to $25.7 million over its first five years in operation as a charter school. In 2020, the Supreme Court endorsed Montana tax credits that helped pay for students to attend religious schools. Secular opponents have said religious charter schools would violate legal limits on government involvement in religion.

☆ US World Bank nominee Banga endorses lending expansion, pledges more
▼ + stars: | 2023-04-05 | by ( David Lawder | ) www.reuters.com time to read: +3 min

"That's good, we should do it," Banga said of the $5 billion lending expansion plan proposed by departing World Bank President David Malpass. But he said that to raise the trillions of dollars needed annually to reach 2030 and 2050 global emissions reduction goals, the World Bank needs to help catalyze private capital. The World Bank cannot do this alone," he said. Banga is now in the final stages of the World Bank executive board's selection process after emerging from a March nomination period as the sole candidate. He is expected to be confirmed as World Bank president by early May.

☆ JPMorgan just dropped some clues as to who might succeed Jamie Dimon. See Insider's exclusive organizational chart identifying the bank's top 114 executives.
▼ + stars: | 2023-04-04 | by ( Carter Johnson | Samantha Stokes | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

We've got names and faces for more than 100 top JPMorgan leaders across investment banking, and more. The bank's CEO and chairman, Jamie Dimon, has consequently been a leading voice shaping both Wall Street and Main Street for decades. On Tuesday, JPMorgan's board of directors provided a little more insight into its CEO succession plans via a 116-page annual proxy filing. Additions to the organizational chart also highlight the growth within some of JPMorgan's key teams. It also provides some clues as to who might one day succeed Dimon, Wall Street's longest running CEO.

The trial involved Owen Diaz, a former elevator operator at the Fremont plant who said he was subjected to harassment including racial slurs and racist caricatures. Diaz won a $137 million verdict at a previous trial in 2021, but a federal judge lowered the jury's award to $15 million while agreeing that Tesla was liable. What stands out is the consistency of the claims alleging rampant harassment of Black workers at Tesla's plant in Fremont. Tesla is also fighting a spate of sexual harassment lawsuits by female workers at the Fremont plant and another factory near Los Angeles. In another pending case, a former production manager claims he was fired for raising concerns about safety issues at the Fremont plant and a factory in Nevada.

Florida Governor Ron DeSantis speaks during an event on his nationwide book tour at Adventure Outdoors, the largest gun store in the country, on March 30, 2023 in Smyrna, Georgia. Disney didn't immediately respond to a request for comment about DeSantis' desire for a probe. The agreement was signed on Feb. 8, the day before the Florida House voted to put DeSantis in charge. The Florida governor took aim at Disney after the company publicly balked at Florida's HB 1557 law early last year. HB 1557, dubbed by critics as the "Don't Say Gay" bill, limits early education teachings on sexual orientation or gender identity.

☆ PDVSA's supervising board to appeal new creditors' move to go after Citgo
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

HOUSTON, March 31 (Reuters) - A board that supervises Venezuela's overseas assets said it plans to file an appeal to a U.S. court's decision granting four firms the right to seize shares in one of the parent companies of Venezuela-owned U.S. refiner Citgo Petroleum. Other companies have sought to attach their own judgments to the case, leading to a feud this week among attorneys over priority. The decision by a U.S. judge in Delaware to approve the attachments is contingent on green light by the U.S. Treasury Department. An ad-hoc board created by Venezuela's National Assembly in 2019 to supervise PDVSA's foreign subsidiaries, especially Houston-based Citgo Petroleum, will oppose any conditioned auction, board's president Horacio Medina told Reuters. Reporting by Marianna Parraga and Gary McWilliams Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Disney's Florida surprise: an end run around DeSantis
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

[1/2] People gather at the Magic Kingdom theme park before the "Festival of Fantasy" parade at Walt Disney World in Orlando, Florida, U.S. July 30, 2022. Florida lawmakers passed a bill in February giving Governor Ron DeSantis effective control over a board that oversees municipal services and development in a special district that encompasses Walt Disney World resort. "It completely circumvents the authority of this board to govern," board member Brian Aungst Jr. was quoted as saying. Disney's then-chief executive officer, Bob Chapek, publicly voiced disappointment with the measure, saying he called DeSantis to express concern about it becoming law. In a move political observers viewed as retaliation for Disney's criticism of the Parental Rights in Education Act, Florida lawmakers passed legislation that ended Disney's virtual autonomy in developing 25,000 acres in central Florida where its theme parks are located.

☆ It'll cost DeSantis' handpicked board nearly $1,300 per hour to hire a team of lawyers to investigate how Disney outmaneuvered them
▼ + stars: | 2023-03-30 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +3 min

DeSantis' board will pay hourly legal fees to investigate Disney's loophole in the governor's plan. DeSantis had previously planned to take over the company's governing rights over Disney World. A prior agreement invoked by Disney renders the new board's power essentially obsolete. Ron DeSantis and his handpicked board nearly $1,300 per hour in legal fees to investigate how Disney found a loophole in the governor's plan to take over the company's governing rights over Disney World, stripping the new government-appointed board members of their power. "This essentially makes Disney the government," Ron Peri, a member of the board, said during a meeting on Wednesday.

☆ It'll cost DeSantis' handpicked board at least $1,300 per hour to hire a team of lawyers to investigate how Disney outmaneuvered them
▼ + stars: | 2023-03-30 | by ( Rebecca Cohen | ) www.businessinsider.com time to read: +3 min

☆ US Federal Reserve watchdog launches probe of SVB supervision
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 28 (Reuters) - The U.S. Federal Reserve's Office of Inspector General (OIG) has launched an independent review of the failure of Silicon Valley Bank (SVB), an OIG spokesperson said on Tuesday. The review, which was launched on March 14, will assess the board's and the Federal Reserve Bank of San Francisco's supervision of the failed lender, the spokesperson told Reuters in a statement. The independent oversight authority plans to complete its investigation within six months, the spokesperson added. The probe was reported earlier by Bloomberg News. Reporting by Rahat Sandhu in Bengaluru and Pete Schroeder; Editing by Leslie Adler and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ IOC issues recommendations for Russian athletes' return to competitions
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +5 min

The IOC Executive Board's recommendations concern the return of those athletes to international competitions but not the 2024 Paris Olympics where a separate decision will be taken at a later date. He said the recommendations for events organisers and sports federations to follow included that Russian and Belarusian athletes can only compete as neutrals, with no flag or anthem. "I am disappointed by the IOC recommendations," Lipavsky wrote on Twitter. "The parameters as announced are absolutely unacceptable," Russian Olympic Committee president Pozdnyakov told a news conference, according to Russian news agencies. PARTICIPATION WORKSBach had earlier told the IOC Executive Board that Russian and Belarusian athletes were already competing daily in many sports without facing problems.

☆ US consumer confidence rises; house price inflation slows
▼ + stars: | 2023-03-28 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index rose to 104.2 this month from a reading of 103.4 in February. Housing affordability, which deteriorated as mortgage rates surged in response to the Fed's fight against inflation, is starting to gradually improve as house price gains continue to moderate. Annual house price growth remained strong in the Southeast, with double-digit gains in Miami and Tampa. The region had experienced rapid house price increases in prior years. Goods trade balanceThe Commerce Department also reported that wholesale inventories rose 0.2% in February after falling 0.5% in January.

☆ The CFTC's suit against Binance marks a deepening crackdown on the crypto industry
▼ + stars: | 2023-03-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

All this comes just days after the SEC charged a spate of high-profile individuals for fraud and crypto market manipulation. That comes months after the total crypto market value saw about $2 trillion erased in a brutal plunge in token prices. The SEC also warned that the platforms investors use to get involved in crypto aren't quite airtight, in the regulator's view. In other news:FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua Reuters2. The World Bank just warned that this could be the start of a "lost decade" for global economic growth.

☆ Stock futures are flat on Monday evening: Live updates
▼ + stars: | 2023-03-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures inched higher in overnight trading after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Meanwhile, S&P 500 and Nasdaq 100 futures added 0.11% each. Investors fought to extend last week's gains, but tech shares came under pressure. The Dow Jones Industrial Average added 194.55 points, or 0.6%, while the S&P 500 gained 0.16%. Beaten-up regional banking stocks, including First Republic , climbed along with the SPDR S&P Regional Banking ETF (KRE ).

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