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☆ Craft beer, marriages and air travel: The collateral damage of a government shutdown
▼ + stars: | 2023-09-29 | by ( Alex Seitz-Wald | ) www.cnbc.com time to read: +14 min

Staff, meanwhile, have been forced to put their real jobs on hold to prepare for the looming shutdown. National parksThe National Park Service plans to close its parks and furlough park rangers if the government shuts down on Sunday. During the 2018-2019 shutdown, the parks themselves remained accessible, but without most services. Some presidential libraries would remain open as long as they have sufficient funds, but others would close and research services would be reduced. A shutdown would result in a "data blackout" of critical economic statistics that influence markets and businesses around the globe.

Persons: Donald Trump, that's, Biden, Joshua, Armando L, Sanchez, Pete Buttigieg, they're, White, Treasury Department furloughed, shutdowns Organizations: Yosemite, Fresno Bee, Tribune, Service, Getty, White House Council, Economic Advisers, Management, Staff, National Park Service, Park Service, Department of Interior, NBC, Congressional Research Service, National Zoo, U.S . Holocaust, Museum, National, Science, National Science Foundation, National Institutes of Health, Centers for Disease Control, Prevention, FBI Agents Association, FBI, Air, Transportation Security, LaGuardia, TSA, O'Hare International, State Department, Consular, Education Department, AmeriCorps, Agriculture Department, Assistance, Women, Small Business Administration, Federal Housing Administration, Social, Consumer, Food and Drug Administration, Consumer Product Safety, Environmental Protection Agency, Occupational Safety, Health Administration, Labor, —, Social Security, Medicare, Treasury Department, Foreign Assets Control, Russia Locations: El Capitan, Yosemite Valley, Washington, Civil, U.S, Europe, Southeast Asia, New Mexico, shutdowns, New York, Chicago, Russia, Iran, Ukraine

The plan could transform the global diamond supply chain, but implementation will depend heavily on India, whose diamond industry employs millions of people who cut and polish 90% of the world's diamonds. If it goes ahead as anticipated, it would split the global consumer diamond market. The EU bought 1.4 billion euros ($1.5 billion) worth of Russian diamonds last year, based on data from Eurostat, as the EU has not banned Russian gem imports nor blacklisted Alrosa. As of 2021, global rough diamond sales totalled $16.4 billion, while demand for polished diamonds was $28 billion, the De Beers report showed. "I think the G7 officials involved with this are taking it quite seriously and I believe they will strictly enforce it.

Persons: Belgium's, Alrosa, De Beers, Paul Zimnisky, Zimnisky, Julia Payne, Polina Devitt, Clara Denina, Shivangi Acharya, Rajendra Jadhav, Toby Chopra, David Holmes, Veronica Brown, Jane Merriman Organizations: EU, Eurostat, De Beers, De, Industry, Belgian, Jewellery Export, Thomson Locations: India, Antwerp, BRUSSELS, LONDON, Ukraine, Belgium, Brussels, Russia, United States, INDIA, AFRICA, Africa

☆ U.S. food companies go deal hunting as pandemic growth fades
▼ + stars: | 2023-09-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

Last month, Campbell Soup (CPB.N) struck a $2.7 billion deal for Rao's sauce maker Sovos Brands (SOVO.O). Reuters GraphicsReuters Graphics Reuters Graphics"Large food companies need to add more new concepts, new flavor profiles and new food items because their old brands - though still growing - are not growing at a meaningful rate," Milani said. Packaged food companies "are now faced with some difficult comparisons on organic (sales) and are seeking some strategic, category-specific M&A targets that will propel them through the next few years," Henry said. "Most of the large cap packaged food companies have ... diligently reduced their debt and improved their balance sheet (through the pandemic)...so they have the risk capacity and risk appetite to pursue large-scale acquisitions," CFRA Research analyst Arun Sundaram said. "These packaged food companies need to continue finding ways to stay relevant ... And so one of the easiest ways to do that is through M&A."

Persons: Brendan McDermid, Campbell, There's, Michael Milani, Baker Tilly, Milani, Kraft Heinz, Sarah Henry, Henry, Mills, Luca Zaramella, Hershey, J.P, Morgan, Arun Sundaram, Deborah Sophia, Arun Koyyur Organizations: Campbell Soup, New York Stock Exchange, REUTERS, Sovos, Unilever, Mars, Reuters Graphics Reuters, Reuters, Logan Capital Management, PepsiCo, Mondelez, Barclays, Hostess Brands, Thomson Locations: New York, U.S, North America, dealmaking, Bengaluru

☆ At Taser maker Axon, ex-staff say loyalty meant being tased, tattooed
▼ + stars: | 2023-08-30 | by ( Scottsdale | ) www.reuters.com time to read: +34 min

Reuters also interviewed 63 current and former Axon employees, including nine former executives. No one with whom Reuters spoke was aware of deaths or lawsuits stemming from tasings of Axon staff. Axon has faced fewer lawsuits since 2009, the year it introduced a new Taser model with a lower charge. Screenshots from an Axon promotional video show CEO Rick Smith taking a Taser hit in 1993, the year he co-founded the business. And that’s off-putting.”Gorman, the former Axon lawyer, said he “vividly” remembers an executive asking him if he was going to be tased.

Persons: Ross Blank, Blank, Steve Tuttle, Shawn Gorman, ”, Jennifer Chatman, Rick Smith, Andrea James, ” James, Axon’s, tasings, ” Blank, Tuttle, Staff tasings, “, Valencia Gibson, Gibson, Reuters –, Axon’s “, Bro, Josh Isner, Isner, James, –, Ann Rosenthal, Rosenthal, ” Rosenthal, Sigma Chi, Smith, ” Smith, ” Michael Church, Hans Marrero, Marrero, ” Marrero, “ I’m, ’ ” Smith, “ It’s, ” Gibson, ” ‘, impressionable, squinting, Keara, Rylan, Mihir Shah, ” Shah, Mario Barth, “ Willing, It’s, Isaiah Fields, Wayne Guay, Lamar Cousins, Cousins, Kevin De Rosa Jr, De Rosa, ” Isner, Smith’s, De Rosa bellowed, They’re, ” Gorman, You’re, Jeffrey Dastin, Paresh Dave Art, John Emerson, Julie Marquis Organizations: Enterprise Inc, Reuters, Haas School of Business, University of California, Staff, Scottsdale, Yorker, U.S . Securities, Exchange Commission, . Occupational Safety, Health Administration, federal, Safety, Health, Labor, Sigma, Harvard, Sigma Chi, Boston Magazine, Harvard’s Sigma Chi, U.S . Marine Corps, YouTube, Employment, Los, Keara Berlin, ” Employees, Los Angeles Police Department, Wharton School, University of Pennsylvania, strapping, Culture Locations: Berkeley, Rome, United States, Arizona, U.S, Las Vegas, Los Angeles, “, Berlin, Sacramento, San Jose , California, tasings, Mandalay, Scottsdale, wasn’t

☆ N.F.L. Increases Penalties for Sexual Misconduct in Light of Deshaun Watson Case
▼ + stars: | 2023-07-31 | by ( Jenny Vrentas | More About Jenny Vrentas | ) www.nytimes.com time to read: +1 min

has changed its personal conduct policy, expanding the offenses that warrant more serious penalties to include sexual assault “involving threats or coercion” and including “a pattern of conduct” and “offenses that involve planning” as factors that could increase punishment. These changes come one year after a disciplinary officer cited limitations of the league’s policy in issuing initial discipline to Cleveland Browns quarterback Deshaun Watson, who was accused of sexual misconduct and harassment by more than two dozen women. Watson, 27, denied the accusations. He was not charged criminally and has settled 23 of the 26 lawsuits filed against him; one was withdrawn (“in light of privacy and security concerns,” according to a court filing) and two others are still active. They spoke under condition of anonymity because they were not authorized to comment publicly.

Persons: Deshaun Watson, Watson, Sue L, Robinson Organizations: Cleveland Browns, The New York Times

[1/2] A Lordstown Motors sign is seen outside the Lordstown Assembly Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Cook/File PhotoNEW YORK, June 27 (Reuters) - U.S. electric truck manufacturer Lordstown Motors (RIDE.O) filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan's Foxconn (2354.TW). Lordstown contends Foxconn is balking at purchasing additional shares of its stock as promised and misled the EV maker about collaborating on vehicle development plans. Lordstown accused Foxconn in that regulatory filing of engaging in a "pattern of bad faith" that caused "material and irreparable harm" to the company. GM agreed to sell the plant to a newly-formed entity called Lordstown Motors founded by the former top executive at an electric truck maker called Workhorse Group.

Persons: Rebecca Cook, Taiwan's Foxconn, Thomas Hayes, Tesla, Lordstown, Foxconn, Edward Hightower, Donald Trump, Mary Barra, Nikola, Stephen Burns, Burns, Elon Musk's Tesla, Mike Spector, Joseph White, Dietrich Knauth, Ben Blanchard, Sarah Wu, Chavi Mehta, Nick Zieminski, Dhanya Ann Thoppil, David Evans Organizations: REUTERS, Lordstown Motors, Foxconn, Hai Precision Industry, General, Reuters, Endurance, EV, Biden, Detroit, GM, Lordstown, U.S . Justice Department, Ford Motor, Stellantis, Thomson Locations: Lordstown, Lordstown , Ohio, U.S, Ohio, Delaware, Foxconn, United States, Northeast Ohio, New York, Detroit, Taipei, Bengaluru

☆ Pro Take: Forget the SEC, International Climate Reporting Standards Could Become the Global Baseline
▼ + stars: | 2023-06-26 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +8 min

New international sustainability reporting standards could fulfill their ambition in becoming the global baseline as the advantages of using a single standard worldwide may, for many companies, outweigh the disadvantages of being more demanding than the SEC’s coming climate reporting rules. On Monday, the International Sustainability Standards Board released its initial two reporting standards. PREVIEWDespite the strong demand for one standard, U.S. and European Union officials are each developing their own climate reporting regimes. It is now up to individual countries and jurisdictions to decide if and when they will adopt the ISSB standards. Sue Lloyd, vice chair of the International Sustainability Standards Board, at the launch of the inaugural sustainability standards.

Persons: Sue Lloyd, ”, Brian Moynihan, Lloyd, Um, Lysanne Gray, Eelco van der Enden, Jean, Paul Servais, Benoit Doppagne, Iosco, Unilever’s Gray, Rochelle Toplensky, Amplifications Iosco Organizations: Sustainability, Task Force, Sustainable Business, European Union, International Organization of Securities Commissions, Securities, Exchange Commission, U.S, Wall Street, Bank of America, London Stock Exchange, Asian Development Bank, Unilever, Alignment, Global, Initiative, Belgian Financial Services, Markets, FSMA, Zuma Press, Accounting, Rochelle, wsj.com Corrections, Amplifications Locations: EU, Australia, Canada, Japan, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, Glasgow, Monday’s, Egypt, Africa, Asia, U.S

☆ A Genius Tomato Salad Primed for Picnics
▼ + stars: | 2023-06-14 | by ( Melissa Clark | ) www.nytimes.com time to read: +1 min

Closer to home, an easier alfresco option might be your very own backyard (or stoop, sidewalk, courtyard or fire escape). Yotam Ottolenghi has a new recipe this week that’s slightly more involved, but just as colorful and fresh. Zaalouk with tahini is a Moroccan salad with spiced tomatoes, peppers and eggplant, all coated in a plush tahini-lemon dressing. Scoop it up with bread as a light meal, or serve it alongside roasted meats or fish for something more substantial. I ate it with flaky sea salt sprinkled on top and some vanilla ice cream on the side.

Persons: maven Nikita Richardson, We’ve, Sue Li’s, Ottolenghi Organizations: Food, Hamptons Locations: New York City, New York, Williamsburg, Moroccan

☆ Shares fall as US debt deal goes to a vote; China data rattles nerves
▼ + stars: | 2023-05-31 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

Data showed China's manufacturing activity fell more than expected in May, while services growth -- which has been one of the few bright spots in its patchy recovery -- slackened to its slowest pace in four months. For any investors hoping for a sustained bounce in Chinese growth after the elimination of stringent COVID restrictions late last year, the figures offered more evidence that the economy is losing steam, further dimming the global outlook. The euro tumbled by as much as 0.7% on the day after data showed a rapid cooling in consumer price pressures in both France and Germany - the region's two largest economies. Meanwhile, Treasury yields fell after a deal to suspend the U.S. debt limit and avoid a default cleared a House of Representatives committee overnight. Two-year yields fell 5 bps to 4.428%.

Persons: they're, Michael Hewson, COVID, Matt Simpson, Treasuries, Brent, Tom Westbrook, Sam Holmes, Kim Coghill, Kirsten Donovan Organizations: Global, CMC, Burberry, Swatch Group, European Central Bank, Thomson Locations: China, Washington, Europe, France, Germany, Singapore

☆ Inside the Online Market for Overseas Abortion Pills
▼ + stars: | 2023-04-13 | by ( Allison Mccann | ) www.nytimes.com time to read: +17 min

A selection of abortion pill kits available online from overseas sellers. A chart of the estimated number of abortion pills provided outside the U.S. health care system from July through December 2022. For most patients, the cost of the service remains the most important factor in deciding where to get pills online. A chart showing the minimum, average and maximum cost of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers. A chart showing the minimum, average and maximum delivery speeds of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers.

☆ Companies Get Another Year for Some International Sustainability Disclosures
▼ + stars: | 2023-04-04 | by ( Dieter Holger | ) www.wsj.com time to read: +4 min

The International Sustainability Standards Board voted Tuesday to give companies an extra year to disclose sustainability metrics unrelated to climate issues to investors under its soon-to-be-finalized standards. The ISSB is part of the International Financial Reporting Standards Foundation, whose accounting rules are followed in more than 140 countries. The February vote also would have had companies disclose non-climate sustainability metrics as soon as 2025. ISSB staff recommended the one-year delay after companies said reporting all sustainability information at once would be too burdensome. Some ISSB members on Tuesday said a delay would give companies more time to prepare better disclosures and understand investor expectations.

☆ Exclusive: N. American fixed income group won't take legal action over Credit Suisse AT1 fiasco-source
▼ + stars: | 2023-03-23 | by ( Divya Rajagopal | ) www.reuters.com time to read: +1 min

TORONTO, March 23 (Reuters) - The Credit Roundtable, a lobby group of some of the biggest fixed income asset managers from the United States and Canada, has decided not to take legal action against Credit Suisse AG (CSGN.S) a person familiar with the matter told Reuters on Thursday. Earlier this week, the Swiss regulator ordered 16 billion Swiss francs ($17.5 billion) of Additional Tier-1 (AT1) debt to be wiped out under its rescue takeover by UBS (UBSG.S). The Credit Roundtable was not available for an immediate comment. Launched in 2007 for bondholders protection, Credit Roundtable consists of 43 members including PIMCO, Vanguard, MetLife (MET.N), Canadian pension fund Omers, Sun Life Financial Inc (SLF.TO) among others. The bond holders of Credit Suisse in Europe and UK have been seeking legal advice over the Swiss banking regulator's decision to write off AT1 bonds under the rescue take over by UBS.

☆ Exclusive: N. American fixed income group will not take legal action over Credit Suisse AT1 wipeout -source
▼ + stars: | 2023-03-23 | by ( Divya Rajagopal | ) www.reuters.com time to read: +1 min

TORONTO, March 23 (Reuters) - The Credit Roundtable, a lobby group of some of the biggest fixed income asset managers from the United States and Canada, has decided not to take legal action against Credit Suisse AG (CSGN.S), a person familiar with the matter told Reuters on Thursday. The Credit Roundtable was unavailable for comment. Launched in 2007 for bondholders' protection, Credit Roundtable consists of 43 members including PIMCO, Vanguard, MetLife (MET.N), Canadian pension fund Omers, and Sun Life Financial Inc (SLF.TO). The source said individual members are free to pursue legal action independently. The bond holders of Credit Suisse in Europe and UK have been seeking legal advice over the Swiss banking regulator's decision to write off AT1 bonds under the rescue take over by UBS.

Companies Google Inc FollowAlphabet Inc FollowMarch 2 (Reuters) - Consumers suing Alphabet Inc's (GOOGL.O) Google LLC over its data collection practices have lost their early appeal to pursue money damages as a class action seeking billions of dollars. Plaintiffs sued Google in 2020, claiming that Google continued to collect data from users despite their use of private-browsing in Chrome's "Incognito" mode. Circuit Court of Appeals in San Francisco on Wednesday rejected the plaintiffs' bid to appeal a lower court decision last year that denied class action status for money damages claims against Google. The damages class would include at least "tens of millions" of Google browser users, court filings indicate. Google has denied that it deceived anyone over private-browsing, saying its Chrome browser users consented to the company's data collection.

☆ Court Allows the PGA Tour to Directly Sue LIV Golf’s Saudi Backers
▼ + stars: | 2023-02-22 | by ( Andrew Beaton | Louise Radnofsky | ) www.wsj.com time to read: 1 min

Yasir Al-Rumayyan, left, governor of Saudi Arabia’s Public Investment Fund, Majed Al-Sorour, CEO of Golf Saudi, center, and Greg Norman, CEO of LIV Golf. Since the beginning of the high-profile legal wranglings between the PGA Tour and its rival LIV Golf last year, the Tour has consistently angled to place LIV’s backing from Saudi Arabia at the center of the feud. Now, the U.S. District Court for the Northern District of California has granted one of the PGA Tour’s chief goals. A ruling issued late Tuesday will allow the Tour to add Saudi Arabia’s Public Investment Fund, LIV’s financial backer, and its governor, Yasir Al-Rumayyan , as defendants in its lawsuit against LIV.

☆ Biden admin cuts some mortgage fees amid housing affordability crisis
▼ + stars: | 2023-02-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +7 min

The move affects mortgage insurance premiums paid by new borrowers who take out loans insured by the Federal Housing Administration. But for homebuyers struggling to enter the housing market, there are some loans like FHA that come with required mortgage insurance. But for borrowers unable to enter the housing market another way, FHA loans can often be the cheapest option. In addition, only a fraction of all home sales are financed with FHA loans. Only 811,362 out of 5.7 million purchase loans originated in 2021 were FHA loans, or about 14.3%, according to HUD.

☆ Robinhood must face customers' lawsuit alleging it hid trading costs
▼ + stars: | 2023-01-18 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Jan 18 (Reuters) - A U.S. judge on Wednesday said Robinhood Markets Inc (HOOD.O) must face a lawsuit by customers who accused the online trading platform of fraudulently concealing their actual trading costs while promising "commission free" trades. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, said customers in the proposed class action had standing to sue over securities they bought and sold on Robinhood's platform. Customers led by Ji Kwon, a Californian, said they ultimately bore these costs and often got worse prices on trades than if they had gone to rivals that charged commissions. The proposed class includes U.S. users of Robinhood from Sept. 1, 2016 to June 16, 2020 who placed trades where the company received payment for order flow. The case is In re Robinhood Order Flow Litigation, U.S. District Court, Northern District of California, No.

☆ Oil companies sue Los Angeles over ban on oil and gas drilling
▼ + stars: | 2023-01-11 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

An oil company with a drilling operation in the Wilmington neighborhood of Los Angeles has filed a lawsuit against the city over its law to ban new wells and phase out all drilling within city limits. Warren Resources, which operates the 10-acre, oil-extraction site, filed a lawsuit on Tuesday in LA Superior Court seeking to stop the ordinance from taking effect. The company argued the city failed to conduct an adequate environmental review of the potential impacts of halting extraction. There are 26 oil and gas fields and more than 5,000 active and idle wells in LA, in areas like Wilmington, Harbor Gateway, downtown, West LA, South LA and the northwest San Fernando Valley. Ian Thompson, a spokesperson for the LA City Attorney's office, declined to comment on the lawsuit.

☆ Special Report: Boy Scouts, Catholic dioceses find haven from sex abuse suits in bankruptcy
▼ + stars: | 2022-12-30 | by ( Kristina Cooke Mike Spector Benjamin Lesser Dan Levine Disha Raychaudhuri | Kristina Cooke | Mike Spector | ) www.reuters.com time to read: +19 min

The Boy Scouts, for instance, said on a website the group set up for restructuring that it launched a “comprehensive noticing campaign” in the media. He sought compensation in the Boy Scouts bankruptcy in June, long after a deadline of November 16, 2020 for filing claims. The Boy Scouts bankruptcy reorganization plan, approved by a judge in September, halts all lawsuits against the Boy Scouts, local councils, churches and other organizations that chartered scouting activities. His case was halted by the Boy Scouts bankruptcy. Later that year, in August, he filed his lawsuit against defendants including a Boy Scouts local council and DeSandre.

Meanwhile, abortion-rights advocates and the ballot initiative groups they’re working with said preliminary efforts are also underway in Florida, Missouri and other states. Meanwhile, voters in two Democratic states, California and Vermont, chose to officially protect abortion rights in their constitutions. “Reproductive rights is a winning issue. The Dobbs decision had a huge impact,” said Chris Melody Fields Figueredo, the executive director of the Ballot Initiative Strategy Center, which works with progressive organizations to help advance citizen-led ballot measures. “And what we know — that about a majority of Americans actually support reproductive rights and abortion access — means we have an incredible opportunity.”

REUTERS/Rebecca Naden/File PhotoMONTREAL, Dec 6 (Reuters) - Countries are gathering Tuesday for a key U.N. nature conference in Montreal, aiming to broker a new global agreement to protect what's left of Earth's wildlife and natural spaces. Global Land Outlook assessment. Like many other campaigners, Zabey called for "an ambitious, clear and enforceable international agreement" similar to the Paris Agreement on climate change. Unlike the U.N. climate talks, Montreal's summit will see few world leaders, which negotiators say could make it tougher to reach an ambitious agreement. Meanwhile, Montreal police have put up a 3-meter (10-foot) fence around the downtown summit venue, Palais des congrès, and are preparing for thousands of student protesters expected to swarm the Montreal's streets to demand a strong deal to protect nature.

☆ Deshaun Watson struggles on return to NFL action after 11-game suspension following sexual misconduct allegations
▼ + stars: | 2022-12-05 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Deshaun Watson struggled on his return to NFL action on Sunday after serving an 11-game suspension following sexual misconduct allegations. After the victory, Watson admitted his long absence played a factor in his poor play on Sunday. Thomas Shea/USA TODAY Sports/ReutersSunday’s game was Watson’s first meaningful NFL action in two years. Watson runs onto the field with his team for the game against the Texans. Browns head coach Kevin Stefanski said afterwards that it’s all about getting game time for Watson at the moment.

☆ Deshaun Watson returned in Cleveland Browns game against Houston. 10 of the women who accused him of sexual misconduct were expected to attend, lawyer says
▼ + stars: | 2022-12-04 | by ( Alaa Elassar | ) edition.cnn.com time to read: +10 min

CNN —Around 10 of the more than two dozen women who accused Cleveland Browns quarterback Deshaun Watson of sexual misconduct were expected to attend his game in Houston on Sunday, according to their attorney. I was proud of them for that,” Tony Buzbee, the lawyer representing the accusers attending the game, told CNN in a statement. Makes me proud they want to stand up and be counted rather than quietly go away.”The NFL and the Cleveland Browns did not respond to CNN’s request for comment regarding the accusers’ attendance. We’re a huge football town, folks here have been lifelong fans of the Cleveland Browns,” Greene said. We believe that Deshaun Watson deserves a second chance.”The team’s “refusal to prioritize protecting women sends a disgusting message” to survivors of sexual assault, Nunes said.

☆ A train passenger was ordered to pay $475 in damages for reclining his seat without notifying the person behind him
▼ + stars: | 2022-12-03 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

A student's laptop was damaged after a fellow rail passenger unexpectedly reclined his seat. The student, identified as Wang, successfully sued the passenger, identified as Liu, for about $475. The court ruled that Liu neglected his obligation to tell Wang that he planned to recline his seat. Wang demanded Liu pay him 4,788 yuan to compensate for repair costs, taxis to the repair shop, and disruption to his journey. This week, the Xiangyin County People's Court ordered Liu to pay Wang 3,341 yuan, or about $475.

☆ UK court says Elliott, Jane Street can sue LME for cancelled nickel trades
▼ + stars: | 2022-10-10 | by ( Pratima Desai | ) www.reuters.com time to read: +2 min

LONDON, Oct 10 (Reuters) - A British court has granted permission for U.S.-based hedge fund Elliot Associates and Jane Street Global Trading to sue the London Metal Exchange (LME) for cancelling nickel trades in March, a court document showed. Elliott and Jane Street are demanding damages of $456.4 million and $15.34 million respectively, after the nickel price topped a record $100,000 per tonne on March 8, prompting the LME's suspension of nickel trading and voiding of trades. The nickel trading episode has been the biggest crisis to hit the world's oldest metals forum in decades. "The LME therefore continues to consider that Elliott's and Jane Street's grounds for complaint are without merit, and the LME will defend any judicial review proceedings vigorously." Elliott Associates declined to comment and Jane Street did not immediately respond to a request for comment.

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