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South Korea's KOSPI recoups its losses with SK Hynix led tech rally
South Korea's benchmark index continued its recovery for a second session on Thursday as investors returned to the market after a historic tech crash earlier in the week. As of 04:18 GMT, the benchmark KOSPI was up 466.67 or 5.51% at 8,937.69. The?rise has now reached 9% in two sessions. The?drop of nearly 10% on Tuesday was the biggest since March. The movements underscore a 'volatile tug-of war between rising interest rates anxiety and opportunistic buying of Korean tech shares at dips. SK Hynix, a?peer company, gained 12.17%, tagging a rally among U.S. chips stocks following Micron's earnings report and outlook. Hyundai Motors and its sister company Kia Corp both saw their shares fall by 0.59%, while rising by 1.15%. Steelmaker POSCO Holdings shed 2.26%, ?while drugmaker Samsung BioLogics rose 0.94%. Out of the 915 shares traded, 402 advanced and 475 declined. The 'KOSPI', the world's top-performing equity index is up 112.09% this year, thanks to the phenomenal demand for semiconductors at Samsung Electronics & SK Hynix. The dollar was quoted at 1,542,2?per won on the settlement platform onshore. This is 0.23% lower than its previous closing of?1,542.7. In non-deliverable futures trading, its one-month forward contract was quoted at 1,555.9. Harikrishnan Nair, Harikrishnan Kim and Cynthia Kim report.
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Shanghai Aluminium hits 2026 Low on Lower Middle East Risk Premium
Aluminum prices fell on Thursday as the Middle East war-risk premium faded, as the fragile peace in?region continued to hold. The Shanghai Futures Exchange's most traded aluminium contract fell 2.75% to?22.825 yuan (3,354.55) per ton after?falling?to an earlier 2026 record low price of 22.665 yuan per ton. The benchmark three-month aluminum on the London Metal Exchange was up 0.13% to $3,126.5 per metric ton at 0339 GMT. This marks an 8% decline since the beginning of the week. As ships passed through the Strait of Hormuz, prices for the light metal fell this week. A fragile peace seemed to hold. The aluminium market had a sharply increased risk premium due to disruptions in freight and higher energy prices from the Middle East conflict. Brent crude oil fell by 1.82%. Middle East supply is increasing quickly, and Iran is expected to boost its sales after a temporary reprieve of U.S. sanctions. Aluminium's production cost is also expected to decrease due to lower energy costs. For its high energy intensity, the metal is often called "congealed electric". Base metals were impacted by global economic headwinds. The U.S. Federal Reserve is expected to increase interest rates in this year due to persistent inflationary pressures. Investors are now waiting for the U.S. Personal Consumption Spending data?will provide further clues about monetary policy. As they dampen economic activity, higher interest rates hurt industrial minerals that are dependent on growth. This week, the outlook for growth was also clouded by the underperformance of technology stocks. Copper has been able to benefit from the projections that demand will increase due to AI infrastructure, grid investments and electric vehicles. Benchmark LME 3-month copper rose 0.35% while the most traded SHFE?contract fell by 1.82%. Zinc fell 0.09% on the LME, while lead rose?0.29%. Nickel gained 0.64%, and tin grew 1.65%. The SHFE saw a drop of 1.64% in zinc, 0.72% in lead, 0.92% for nickel and 1.76% for tin. ($1 = 6.8042 Chinese Yuan Renminbi) Reporting by Solomon Cefai, Editing by Ronojoy Mazumdar
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Oil extends decline on rising Middle East supply
The oil prices continued to fall on Thursday, dipping near the levels seen just before the Iran War. This was due to a 'rising'?supply expectation from the Middle East that outweighed the demand concerns. Brent crude futures, for delivery in August, fell by $1.22 or 1.65% to $72.52 a barrel as of 0337 GMT. U.S. West Texas Intermediate dropped $1.02 or 1.45% to $69.32 a barrel. Both contracts have reached their lowest levels since February 27, Brent for August was cheaper than September at $73.59, indicating ample supply in the short term. In a recent note, IG analyst Tony Sycamore stated that "the speed of this drop has?caught many off guard" as the markets have priced in a faster return of Middle Eastern crude barrels than what most people had expected just a 'fortnight ago." Brent fell more than $3 Wednesday, as concerns about supply eased. WTI also settled down nearly $3. U.S. Energy Sec. Chris Wright said on Wednesday at a forum that the flow of oil through the Strait of Hormuz was close to the level before the start of the Iran War. He added that 20 million barrels of oil had left the strait within the past 24 hours. Wright said that a return to "complete normalcy" would take several weeks due to the need to demine the Strait of Hormuz. The price of crude oil around the globe has been driven down by a combination of rising Middle Eastern supply and Iran's plans to increase sales after a temporary reprieve in U.S. sanction. The U.S. and Israel war against Iran that began on February 28 has been ended by an initial agreement last week. This allowed the traffic to resume through the Strait. The agreement established a 60-day period of negotiations in order to address more complex issues, such as Iran's nuclear program. Wright stated that oil would flow through the Strait even if it did not hold and that Iran "would not be able" to close it. Oman opened Wednesday temporary routes for tanker departures 'from the Strait?of?Hormuz. The International Maritime Organization (IMO) and Omani authorities coordinated movements. Qatar's Prime Minister visited Oman to discuss the beginning of negotiations with Iran, Iraq and Gulf States over future management of the Strait. Macquarie analysts predicted oil prices to return quickly to pre-war levels, as supply chains adapt and the Strait of Hormuz is reopened. Brent and WTI are expected to average $62 and $67 per barrel respectively in the third quarter. This is down from $94 and $87.50 per barrel for the second quarter. Energy Information Administration reported that U.S. crude oil stocks fell to their lowest level since 1984 on Wednesday. This was due to strong refinery demand and the government's release of emergency reserves. The markets, however, seemed unfazed as traders concentrated on the Strait of Hormuz. Reporting by Colleen Waye in Beijing, and Siyi Liu from Singapore; editing by Jacqueline Wong
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Bankers claim that Vedanta Resources returns to the dollar bond market in order to purchase high-cost notes.
Two merchant bankers confirmed on Thursday that Vedanta's wholly owned subsidiary is returning to the dollar bond market in nine months with a three tranche issuance. The issuance will primarily be used to fund Vedanta's buyback of high yielding notes. The bankers said that Vedanta Resource Finance II will raise money through bonds with a coupon of 7.25, 7.6250%, and 8.0%. The company didn't respond to an email asking for comment. They asked to remain anonymous because they aren't authorised to talk to the media. The bonds will be guaranteed by the parent company as well as its subsidiaries Twin Star Holdings and Vedanta Holdings Maritius II. The notes will be rated according to the issuer. The proceeds will primarily be used for refinancing higher yielding debts worth over $2 billion. The company plans to buy back $550'millions of 9.475% 2030 bonds, $500'millions of 11.25% paper in 2031, $500?millions of 9.125% 2032 bonds, and $550 -millions of 9.85% notes. The unit raised $500 million in October by?selling seven year dollar bonds with a coupon of 9.1250%. This is one of the documents that it plans to repurchase.
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China's coking coal production rises due to strict safety inspections
Chinese coking prices rose on Thursday, as the recovery of production slowed down in the province of Shanxi. This was in response to a fatal mining accident that occurred in late May and the ongoing strict safety inspections in this coal-rich area. As of 0333 GMT, the most traded coking coal contract at Dalian Commodity Exchange increased by 0.12% to 1,251 Yuan ($183.72 per metric tons). The DCE coke contract that was most active gained 0.33%, to 1,953.5 Yuan per ton. According to a report by Mysteel, the pace of recovery of the production in Shanxi is slowing down, even though the number of coal mines in certain areas that have halted production has increased. After the fatal?mine accident, which prompted broad and strict safety inspections throughout?China's leading coal production hub?, supply concerns grew. Prices fell as local coal mining reports indicated that production had gradually returned, easing fears of a shortage. Investors weighed the prospects of weakening economic fundamentals against firm demand in the short term. Rising supply coincides with faltering consumer demand. The DCE contract, the most traded iron ore, was up by 0.13% to 744 yuan per ton. As of 0323 GMT, the benchmark 'July' iron ore price on the Singapore Exchange had remained largely unchanged at $98.3 per tonne. The benchmarks for steel on the Shanghai Futures Exchange are mixed. The benchmarks for steel on the Shanghai Futures Exchange were mixed. Analysts at Lange Steel said that the daily crude steel production in June will be around 2.7 million tons, as compared to 2.72 million tonnes in May, according to official data.
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Fortescue is the latest Australian miner to be sued for sexual harassment
Fortescue, Australia's largest?iron ore mining company, was hit with a class-action lawsuit on Thursday, alleging widespread sexual harassment at its remote mine sites. The lawsuit was filed by the law firm JGA Saddler. They also brought similar class actions against Rio Tinto in 2024. These cases are still making their way through courts. The Western Australian government has recommended that the mining industry undergo sweeping changes in 2022 after describing what they deemed to be horrendous behaviour towards women. In a recent statement, JGA Saddler litigator Paris Hamrey stated that women have repeatedly told her they don't feel secure at Fortescue mines. She said that women told her they couldn't do their laundry because they were afraid their underwear would be stolen. They also claimed they couldn't go to gym because they felt men touching them inappropriately, or following them to their rooms. Fortescue's spokesperson said that sexual harassment and illegal discrimination have no place at the company, which is "committed to providing a safe and respectful workplace for all its employees and contractors." She refused to comment on any allegations or claims. LAW FIRM SAYS REPORTED WOMEN WERE DEMOTED AND DISMISSED JGA Saddler's statement included 45 testimonials of women who worked at Fortescue and described incidents they experienced. One woman wrote: "I found a man in my bedroom one night when I came home." Fortescue announced that it would invest $300 million in improving living quarters?at the sites, with an emphasis on safety. This includes deadlocks and swipe-card systems for access, CCTV, and better lighting. Hamrey stated that women who reported incidents at Fortescue were demoted, dismissed or blacklisted. Australia is the top producer of iron and many of its far-flung mining operations are serviced by FIFO employees. Women now make up 22% of mining workers, compared to 18% in the early 2000s. Fortescue's latest safety report shows that the company reported 22 cases of sexual harassment in 2025 to Western Australia’s mines safety regulator, a 27% decrease from a year ago. It was the only company to have reported a decline. According to Rio Tinto's annual report, the care?hub of Rio Tinto, which assists employees who report a range?of disrespectful and harmful workplace behaviors including harassment, recorded?702 incidents last year, an increase of 24% over the previous year. BHP reported 429 sexual harassment incidents in fiscal 2025. This represents a 3% rise, according to the company's annual report. 100 people were found responsible and either fired or resigned. (Reporting by Melanie Burton; Editing by Edwina Gibbs)
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Fortescue is the latest Australian miner to be sued for sexual harassment
Fortescue, Australia's largest iron ore mining company, was hit with a class-action lawsuit on Thursday, alleging widespread sexual harassment at its remote mine sites. The lawsuit was filed by the law firm JGA Saddler. They also filed'similar' class action suits against Rio Tinto and BHP at the end of 2024. These cases are still making their way through courts. The Western Australian government has recommended that the mining industry undergo major changes in 2022. This is after describing what they deemed to be horrifying behavior against women. They also found sexual harassment and abuse were rampant. In a recent statement, JGA Saddler litigator Paris Hamrey stated that women have repeatedly told her they do not feel safe at Fortescue's mine sites. She said: "Women tell us that they are unable to do their laundry because they are robbed of their underwear in the public laundries. They can't even go to the gym, because men touch them inappropriately and follow them back into their rooms." Hamrey stated that when women do report incidents they are demoted, dismissed or silenced from the industry. 45 women who worked at Fortescue described incidents that they experienced in the statement. One woman wrote: "I found a man in my bedroom one night when I came home." FIFO workers service many of Australia's remote mines. Women now make up 22% of mining workers, compared to 18% at the beginning of this decade. Fortescue's latest safety report shows that the company reported 22 cases of sexual misconduct to Western Australia's mines safety regulator during the 2025 financial period, a decrease of 27% compared to a year ago. It was the only company out of the three to have reported a decline. According to the annual report, Rio Tinto’s care hub, that supports employees who have reported a range of disrespectful or damaging workplace behaviours, including harassment, recorded 702 incidents in the past year, a 24% increase from the previous year. BHP reported 429 sexual harassment incidents in 2025. This is a 3% rise, according to the company's annual report. 100 people were found responsible and either fired or resigned. (Reporting by Melanie Burton; Editing by Edwina Gibbs)
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Asian stocks soar as Micron earnings soothe AI fears
Asian stocks surged on Thursday, after Micron and Qualcomm reported strong earnings. This helped to ease some of the concerns about the AI rally which has driven global stock prices to new highs. Micron announced that its customers have committed $22 billion to its memory chips. Qualcomm expects $15 billion of sales in its data center business by 2029. MSCI's broadest Asia-Pacific share index outside Japan rose 1.3% in early trading. Japan's Nikkei gained over 2%, while South Korea's KOSPI gained 5.5%. Futures on the S&P 500 index rose by 0.5%, while Nasdaq futures increased by?1.8%. Tony Sycamore is a market analyst at IG. He noted that the data indicated a cooling of positioning which could affect tech's momentum. Recent volatile sessions have been attributed to investor concern that valuations of?AI companies are stretched after years of gains. Analysts remain skeptical of a sustained rally for 'AI' stocks, as valuation concerns persist. Nick Twidale is the chief market strategist of ATFX Global in Sydney. He expects the stock to move higher on the strength of Micron's earnings. "But I am not sure how long this euphoria is going to last in the rest of the industry." He said that valuation concerns would continue to affect sentiment. TANKERS LEAVE THE STRAIT OF HORMUZ The oil prices continued to fall as stranded tanks left the Strait of Hormuz after an initial agreement was reached to end the U.S. Israel war against Iran, easing concerns about supply. Brent crude futures fell 0.5% to $73.34 per barrel, bringing them closer to the levels of 'pre-war. U.S. West Texas Intermediate dropped 0.38% to $70.07 a barrel. Investors are pricing at least one interest rate hike this year. The PCE report on Thursday is expected to show that core prices increased?0.3% during May, which would put the annual rate of inflation at 3.4%. Forecasts for headline inflation are 0.5% in May and 4.1% over the past year. The?dollar has risen as a result of rising expectations that a rate increase will occur. This has pushed the Japanese yen to its lowest level in over 40 years, and Tokyo is on the verge of further?intervention. Last week, the yen traded at 161.73 to the dollar. This is not far off from its two-year low. If the yen falls below 161,96, it will be at its lowest level since 1985. The dollar index, which measures U.S. currency against a basket of currencies, reached 101.6 in the last session after hitting 101.80 the previous day, its highest level since May 12, 2025. Gold has been impacted by the strengthening dollar, and it fell below $4,000 per ounce for first time since 2026. Gold spot last sold for $3,990 an ounce. This is near the lowest price since November. (Reporting and editing by Kate Mayberry in Singapore, Ankur Banerjee is based in Singapore)
The top cases in the US Supreme Court docket
During its current term, the U.S. Supreme Court will decide a number of important cases involving such issues as presidential powers and tariffs, gun rights, birthright citizenship laws, transgender sports, campaign finance laws, voting rights, LGBT “conversion therapy”, religious rights and capital penalty. The term began in October, and will run through June. Separately, the court has also acted in emergency cases in several cases that challenge President Donald Trump's policy.
TRUMP'S TARIFS The Supreme Court ruled on February 20, a decision that has major implications for global economics, to?down' Trump's tariffs. Trump had imposed them under a law intended for national emergencies. The ruling, which was 6-3 in favor of the lower court decision, confirmed that Trump had exceeded his legal authority by using this 1977 law. The court ruled that Trump did not have the authority to impose tariffs based on the law in question, the International Emergency Economic 'Powers Act (IEEPA). Congress has the power to impose taxes and tariffs, not the President, according to the U.S. Constitution. Tariffs are at the heart of a global trade conflict that Trump started after he entered his second term in office. This war has alienated trading partner, affected financial markets, and created global economic uncertainty.
TRUMP'S FIRE OF FED OFFICIAL Justices showed skepticism towards Trump's attempt to fire Federal Reserve Governor Lisa Cook, in a case which could threaten the independence of the central bank. The justices said they would not grant Trump's request for a judge to overturn a decision that prevented him from firing Cook immediately while her legal case played out. Congress created the Fed by passing a law called the Federal Reserve Act. The law included provisions meant to protect the central bank against political interference. Governors could only be removed from office by the president "for cause", though it does not define that term or establish procedures for removal. Trump claimed that Cook's firing was due to unproven allegations of mortgage fraud, which she has denied. Cook, who is still in her position for now, said that the allegations were a pretext used to fire Cook over differences of monetary policy, as Trump pressures the Fed to reduce interest rates. The ruling is expected to be made by the end June.
Birthright Citizenship The court will hear arguments about the legality of Trump’s directive on April 1, which restricts birthright citizenship. This is a controversial part of Trump’s efforts to curb immigration, and would change the way a 19th-century constitutional provision has been understood for many years. The lower court blocked Trump’s executive order, which instructed U.S. agencies to refuse to recognize citizenship for children born in the U.S. when neither parent was an American citizen or a legal permanent resident (also known as a "green-card" holder). The court found that Trump's directive violated both the 14th Amendment of the U.S. Constitution and federal law codifying the birthright citizenship rights.
LOUISIANA ELECTORAL DISTRICTS The conservative justices of the court signaled on October 15, their willingness to undermine another key section in the Voting Right Act, the 1965 landmark law enacted to prevent racial bias in voting. This was during arguments in a case involving Louisiana's electoral districts. The case centers on Section 2 of the Voting Rights Act, which prohibits voting maps that dilute the power of minorities without proof of racism. The lower court found that the Louisiana electoral map, which divided the six U.S. House of Representatives districts into two districts with a majority of Black people instead of one district previously, violated the Constitution’s promise of equality protection. The ruling is expected to be made by the end June.
Federal Trade Commission Firing The conservative justices of the court have signaled that they will uphold Trump's legality in firing a Federal Trade Commission Member and give an historic boost to president power, while also putting at risk a 90-year old legal precedent. On December 8, the court heard arguments in the Justice Department appeal of the lower court's ruling that the Republican President exceeded his authority by dismissing Democratic FTC member Rebecca Slaughter before her term was due to end in March. The conservative justices seemed sympathetic to the Trump Administration's argument that tenure protections granted by Congress to heads of independent agencies illegally infringed on presidential powers under the U.S. Constitution. Trump was allowed to remove Slaughter until the case concluded. The court is expected to make a decision by the end June.
TRANSGENDER SPORTS PARTIcipation The conservative justices seemed ready to uphold the state laws that ban transgender athletes to female sports teams despite escalating national efforts to restrict transgender rights. On January 13, the court heard arguments from Idaho and West Virginia in appeals of lower court decisions siding with transgender student who challenged the 'bans' in both states as a violation of the U.S. Constitution, and a federal antidiscrimination act. 25 other states also have laws similar to this one. The conservative justices expressed concerns over imposing a uniform law on the whole country, amid a sharp disagreement and uncertainty about whether medications such as puberty-blocking hormones or gender affirming hormones remove male physiological advantages in sport. The ruling is expected to be made by the end June.
LGBT 'CONVERSION THERAPEUTY'
During arguments on October 7, the court's conservatives appeared to be ready to support a challenge to a Colorado statute that prohibits psychotherapists from performing "conversion therapy," which aims to change minors' sexual orientation or gender identities. The law was challenged by a Christian licensed counselor under the First Amendment's protections from government?abridgment free speech. Colorado said that it regulates professional conduct and not speech and has the legal power to prohibit a healthcare practice they deem unsafe and ineffective. A lower court upheld this law. The ruling is expected to be made by the end June.
HAWAII GUNS LAW The conservatives expressed skepticism about a Hawaii gun law which restricts handguns from being carried on public property, such as businesses. They appeared ready to expand the right to carry guns again. On January 20, the court heard arguments in an appeal by opponents of the law, backed by Trump's administration, regarding a judicial decision that Hawaii's Democratic backed measure is likely compliant with the U.S. Constitution’s Second Amendment right to bear arms. Hawaii's law demands that a property owner "expressly authorize" the bringing of a handgun on private property. Four other states in the United States have laws similar to Hawaii's. The ruling is expected to be made by the end June.
Drug Users and Guns The Supreme Court will hear arguments in a case on March 2, involving a dual American/Pakistani national in Texas, to defend the Trump Administration's bid for a federal gun law that prohibits users of illegal drugs. Hunter Biden, son of former president Joe Biden, was charged under this law in 2023. The Justice Department appealed a lower court ruling which found that the gun restrictions were in violation of the Second Amendment rights to "keep and carry arms" guaranteed by the U.S. Constitution. The Gun Control Act, which was passed in 1968, prohibited gun ownership by drug users.
CAMPAIGN-FINANCE On December 9, the court heard arguments in a Republican led bid to overturn federal spending limits by political parties coordinated with candidates. The case involved Vice President JDVance. The conservative justices seemed to be sympathetic towards the challenge. However, the three liberal members of the court appeared inclined to maintain the spending limits. The debate centers around whether federal limits on campaign spending coordinated with candidates' input violate First Amendment protections against government abridgment. Vance and Republican challengers have appealed the ruling of a lower court that limited how much money political parties could spend on campaigns, with input from candidates who they support. This type of spending is called coordinated party expenses. The ruling is expected to be made by the end June.
MAIL-IN-BALLOTS On March 23, the court will hear arguments as Mississippi defends its state law that allows mail-in votes received after Election Day, to be counted. This case could lead to stricter voting laws in other states. A lower court declared illegal a state law allowing mail-in ballots received by certain voters that were stamped on or before Election Day, but not until five business days following a federal election.
U.S. ASYLUM - PROCESSING: The court will hear arguments from the Trump administration on March 24, as it defends its authority to limit asylum processing at the ports of entry along U.S. - Mexico border. The Trump administration appealed the lower court's ruling that the "metering policy" was illegal. This allowed U.S. Immigration officials to stop asylum seekers and refuse to process their claims at the border. Former President Joe Biden rescinded the policy, but Trump’s administration indicated that it may consider resuming.
Human Rights Abuses Abroad The court heard an appeal from Cisco Systems, in which the company and Trump administration asked the justices for a limit on the federal law used to hold corporations liable for abuses of human rights committed abroad. Cisco appealed the 2023 ruling which gave new life to a lawsuit filed in 2011 accusing the California-based firm of developing technology that enabled China's government monitor and persecute Falun Gong members. The Alien Tort Statute was the basis of the lawsuit. This 1789 law had lain dormant in U.S. courtrooms for almost two centuries, before attorneys began to use it in the 1980s in order to bring international human rights cases. Arguments in the case have not been scheduled.
CRISIS PRINCIPAL CENTERS In a dispute arising from an investigation by the New Jersey Attorney General into whether or not these facilities engaged in deceptive practice, the court appears to be inclined to side with the Christian faith-based "crisis pregnancies centers" that are anti-abortion. During the December 2 arguments, a large majority of the Justices appeared to be inclined to revive a lawsuit filed by First Choice Women's Resource Centers against Democratic Attorney General Matthew Platkin's subpoena 2023 seeking information about the organization's doctors and donors. First Choice's facilities are designed to discourage women from getting abortions. The decision is expected to be made by the end June.
RASTAFARIAN INMATES The conservative justices seemed inclined to reject the Rastafarian inmate's attempt to sue Louisiana state prison officials after they shaved his head in violation of?religious belief. The case was brought before the court in November 10 under a federal statute protecting incarcerated persons from religious discrimination. Plaintiff Damon Landor's religion requires that he let his hair grow. He appealed the decision of a lower court to dismiss his lawsuit, because they found that the statute in question did not allow for him to sue officials individually for monetary damages. The ruling is expected to be made by the end June.
INMATE ON DEATH ROW The court heard arguments on December 10, in an attempt by Alabama officials, to pursue the execution a convict convicted of a murder in 1997 after a lower judge found him intellectually disabled. The Republican-led state has appealed a lower court ruling that Joseph Clifton Smith was intellectually handicapped based on his intelligence quotient (IQ), test scores, and expert testimony. In a 2002 Supreme Court decision, the court ruled that executing a person intellectually challenged violated the Eighth Amendment of U.S. Constitution prohibiting cruel and unusual punishment. The Supreme Court is expected to rule by the end June.
WEEDKILLER CANCER CLAIM
The court will consider Bayer's request to limit lawsuits claiming the German biotechnology and pharmaceutical company's Roundup weedkiller 'causes cancer' and possibly avoid billions of dollar in damages. Bayer appealed the ruling of a lower court in a case filed by a man claiming he was diagnosed as having non-Hodgkin lymphoma following years of exposure Roundup. The lower court rejected Bayer’s argument that U.S. pesticide law bars lawsuits based on claims made under state laws. Arguments in the case have not been scheduled.
FCC FINES FOR WIRELESS CARRIER The Justices will hear the dispute over fines levied by the Federal Communications Commission against major U.S. carriers who shared customer location data with other companies without their consent. This is the latest case that has reached the Supreme Court challenging the authority of an American regulatory agency. The case concerns the FCC's efforts to impose tens-of-millions-of-dollars in fines on carriers like Verizon Communications and AT&T before they had their day in the court. Arguments in the case have not been scheduled.
COX COPYRIGHT DISSERT The court heard arguments in December in an attempt by Cox Communications, a provider of internet services, to avoid financial responsibility in a major copyright lawsuit brought by record labels who accused Cox of allowing its customers to piracy thousands of songs. Justices appeared to be skeptical about Cox's claim that mere knowledge of user piracy was not enough for it to be held liable for copyright violations. A lower court ordered that a new trial be held to determine the amount of money Cox owes Sony Music Group, Warner Music Group Universal Music Group and others for contributing copyright infringement. Cox, which is the largest division of privately-owned Cox Enterprises said that the retrial may result in a verdict of up to $1.5 billion against it. The ruling is expected to be made by the end June.
(source: Reuters)