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Copper prices rise on the back of falling inventories
Copper prices reached their highest level in over a week Monday, as lower oil costs eased concerns about economic growth and demand. The market was also focusing on dwindling stocks. Benchmark copper prices on the London Metal Exchange were up 0.6% to $13,876 per metric ton at 0903 GMT, after reaching $13,900. This was their highest price since July 22. The drop in oil after U.S. president Donald Trump called off his 'fresh attack' on Iran to seek a deal that would curb Tehran’s nuclear ambitions eased concerns about price pressures, according to traders. Britannia Global Markets stated in a report that "the markets are still headline driven as we begin the week. Energy markets remain the main focus." The underlying fundamental picture for copper appears to be supportive. The inventories in the London Metal Exchange and China Metal Exchange are in a depletion state. The copper stocks registered at the LME have dropped by nearly 40% since May, to 244,025 tonnes. This is their lowest level since February. Since February of last year, producers and traders have shipped copper to the United States, after President Donald Trump threatened to impose import tariffs. This created a premium in U.S. Copper over LME Prices. The U.S. Commerce Department had to finish a review on the copper market before?June 30 but Trump hasn't yet announced any decision regarding tariffs. Nickel prices fell in other parts of the world after Indonesia resumed its exports. This eased supply concerns for the near future. The contract for three months was down by 1.2% at $17,040 per ton. Indonesia's Chief of Staff Dudung Abdurachman said the ban only applied when rare earths was the primary product. The clarification has reportedly reduced the 'fear of prolonged disruptions to Indonesian nickel shipments. Officials have yet to finalise testing procedures and concentration limits. Other metals saw a 1% gain in aluminium to $3.215 per ton. Zinc rose 1.1% to $3.682 and tin remained unchanged at $55,295.
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Oil prices fall on hopes for a peace agreement with Iran and yen firms following intervention
On Monday, oil prices plunged sharply and European stock markets rose as hopes grew of a peace agreement in the Middle East. Meanwhile, the yen strengthened?to an all-time high after the U.S. confirmed a joint intervention to?support a weak currency. Brent crude futures fell $4.50 or more than 5% to $83.40 per barrel after U.S. president Donald Trump announced that talks with Iran would take place on Monday. He had previously called off an assault on Iran in order to pursue a plan to reopen Strait of Hormuz. European stocks rose 0.4% on Monday, kicking off August in a positive note. The German DAX set an intra-day high and closed the day up 1.3%. Bruno Schneller is the managing partner of multi-family office Erlen Capital Management. He said that "for equity markets, fundamentally, the picture remains positive". Companies with resilient business models and strong pricing power continue to outperform. S&P futures increased by 0.5%, while Nasdaq Futures gained 0.6%. Florian Ielpo's research, Monday, as head of macro for Lombard Odier Investment Managers noted, showed that 86% of companies had surpassed earnings expectations. Asian stocks suffered as the new month began, following a turbulent and wild July that saw investors worry about massive investments in AI. Japan's Nikkei fell 1% while South Korea's KOSPI dropped more than 5%. The MSCI world stock index was flat as a result. YEN BEAR COWER FOLLOWING JOINT INTERVENTION The Japanese yen gained over 0.5% to 156.70 US dollars after a sudden movement earlier in the day, when it reached its highest since early May at 155.2. This put traders on high alert for further intervention. Japan's Finance Ministry confirmed on Monday that the U.S. and Japan conducted a coordinated yen buying intervention, and they will not hesitate to continue, as a rare bilateral measure to stop the yen from falling to its lowest level in 40 years. U.S. Treasury Sec. Scott Bessent said that the United States will also consider in the coming months increasing the size of Federal Reserve's Repurchase Facility providing temporary dollar liquidity, calling this tool an "important backup". Matt Simpson, senior market analyst at StoneX, said that Besent's comments carry more weight than his intervention. It feels like the Japanese yen is at its lowest level for the year. "Joint Intervention" is a phrase that has a lot weight on these markets, and it's rarely used." Trump said that the United States helped Japan to 'prop up the yen' as a show of friendship and in order to help the global economy. Tokyo's unilateral intervention between late April to early May caused only a short?yen recovery, whereas a rate increase in June by the Bank of Japan gave little support, underlining the challenges policymakers face due to rising oil prices and an interest-rate gap with other major economies. Before the recent interventions, the yen was rooted at a 40-year low of 163.99 dollars per yen, and net short positions were around $12.5 billion. This is the largest amount of money that has been held in the yen in the past two years. Masahiko loo, senior fixed-income strategist at State Street Investment Management, said that 155 is the next level to watch. Bessent's?actions and comments, in which he repeated his call for further interest rate hikes from the BOJ, have brought monetary policy into focus. Elsewhere, ?U.S. Treasury yields fell as oil prices dropped. The 30-year bond yield fell 4.5 basis point to around 5.23%. This is a slight decline from the 19-year high reached last week. Investors were confused by the Iran War and the Federal Reserve's policy outlook in July. Reporting by Nell Mackenzie and Ankur Banerjee, both in London; editing by Muralikumar Anantharaman and Jacqueline Wong.
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UK bond yields drop as oil prices fall on renewed hope for a peace agreement with Iran
British government bond yields fell 'on Monday, as oil prices dropped by $4 per barrel after U.S. president Donald 'Trump announced that he would be resuming talks with Iran and calling off military strikes. At 0715 GMT, the yields on two-year gilts, which are sensitive to interest rate forecasts in the short-term, fell by?around nine basis points to 4.325%. This was a greater fall than that of German or U.S. government bonds. The 10-year gilt yields fell?below 5 percent, falling by?8 basis points to 4.975%. Meanwhile, the 30-year gilt rates were also 8 basis points lower at 5.702%. Michiel Tukker is ING's senior UK and Euro zone rates strategist. The relationship between rates and oil prices is not easing. Tukker said that the longer oil prices are elevated, the greater the chance of a second-round inflation effect. Suban Abdulla reported; David Milliken edited.
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South Korean stocks plunge over 5% in August, as chipmakers are the main culprits
South Korean shares closed more than 5% down on Monday. The start of August was a rough one as investors sold off the heavyweight chipmakers after a record rally in the previous session. The benchmark KOSPI index fell 5.1% to 6,257.45 after surging by 18% in the previous session. The gauge, however, fell 22.2% during July for its biggest monthly decline since October 2008. The stock market in Seoul has been slashed due to a rapid winding down of leveraged bets on heavyweight chipmakers, and concerns about the durability of capital expenditures by AI hyperscalers. The record Friday rally was followed by fresh selling on the Monday after, highlighting the fragile sentiment surrounding AI investments and the outsized impact of leveraged retail betting on the heavyweight chipmakers. Samsung Electronics, and its rival SK Hynix, which together account for over half of the KOSPI Index, have shed 9% and 8,7% respectively. "Today's drop is better interpreted as a rebalancing of positions rather than a fundamental change." Billy Leung is an investment strategist with Global X ETFs Australia. He said that Korean equities are now a "high beta proxy" for global AI sentiment. The near-term path will remain volatile, given the amount of leverage in the system. However, the demand background underneath the volatility remains strong. William Bratton of BNP Paribas' Cash Equity Research in APAC says that the KOSPI volatility can be seen by the sharp swings this year. 32 of 42 daily movements of over 5% during the last decade occurred this year, as of July 31. Regulators introduced measures to limit the impact of highly volatile financial instruments. Investors remain unsure whether these measures will be enough to survive the current market slump. Bratton noted that "our discussions with investors indicate a high level of frustration" because the current market volatility is overshadowing the fundamental story. Data showed that 'July exports exceeded market expectations due to a 179% increase in semiconductor shipments. A purchasing managers survey conducted by S&P Global also revealed that factory activity was expanding at a faster pace in July, based on the export demand. Other automakers in the KOSPI were?Hyundai Motor, and Kia Corp, which is a sister company, both rose 1.3%, and fell 1.7%. According to exchange data, foreigners sold shares worth $2,826.2 billion ($1.98 billion), after selling a total amount of $9.86 trillion in July. According to a source, the won strengthened to 1,426.20 against the U.S. Dollar, but it remained below its 1,418-level reached last Thursday, after foreign exchange authorities made a rare dollar selling intervention.
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Gold prices rise as oil prices fall after Trump delays Iran attack
Gold prices rose on Monday as oil prices dropped after U.S. President Donald Trump waited to launch a new attack on Iran, hoping for a quick deal. This helped ease concerns about inflation and rising interest rates. As of 0655 GMT, spot gold was up 0.6% to $4,063.35 an ounce. U.S. Gold Futures rose 0.1% to $4,053.70. After authorities intervened on the foreign exchange market to support yen prices, the U.S. Dollar was under pressure. Tim Waterer is the chief market analyst for 'KCM Trade. He said that gold has had a relatively positive start to the week, but the gains are still limited due to the uncertainty surrounding the oil markets and the Middle East. Trump stated that talks with Iran would take place on Monday, but he declined to give a deadline. Brent crude dropped nearly 6%. Since the beginning of the U.S. - Iran conflict, gold has been under pressure as a rise in inflation caused by war could lead central banks to increase interest rates. While bullion has traditionally been viewed as an inflation hedge, its appeal is diminished in a high interest rate environment since it doesn't yield any interest. Participants in the market will also be focusing on the U.S. employment reports that are due this week. These include the ADP Employment Report, weekly claims for joblessness, and the nonfarm Payrolls report. Waterer stated that "any renewed escalation of the Middle East, which?pushes the oil higher, or a strong NFP that reinforces the September rate-hike chances, could cap the downside." Three U.S. Federal Reserve members who dissented from the meeting last week and favored a rate increase expressed concern on Friday about the inflation remaining stuck above the Fed's target of 2% without an immediate rise in short-term borrowing rates. In a recent note, Standard Chartered analysts said that they continue to expect the gold price to recover on seasonal buying. Spot silver rose 0.9% to $58.17; platinum increased 0.2% to 1,645.89; and palladium grew 1.1% to $1.287.19.
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Oil prices fall on hope of Iran Deal, but yen firms are still active after intervention
The oil prices fell and the?U.S. Stock futures in Europe and the U.S. rose Monday amid growing hopes for a Middle East peace agreement, while the yen strengthened to a high of three months after the U.S. Japan and the United States confirmed a joint intervention in order to support the fragile?currency. Brent crude futures fell more than 4%, to $83.88 per barrel, after U.S. president Donald Trump announced that talks with Iran would take place on Monday. He had previously called off an imminent strike on Iran in order to reach a agreement to reopen Strait of Hormuz, and resolve the impasse regarding Tehran's nuke capabilities. S&P futures increased by 0.6%, while Nasdaq Futures rose by 0.8%. European futures rose 0.8%. Asian stocks were down at the beginning of the week following a turbulent month that saw wild swings in the AI market. Investors worried about massive capital expenditure and whether they would provide returns quickly. Japan's Nikkei fell 1% while South Korea's KOSPI dropped more than 5%. MSCI's broadest?Asia-Pacific share index outside Japan fell 1%. YEN BEAR COWER FOLLOWING JOINT INTERVENTION The Japanese yen rose 0.5% to 156.49 US dollars after an abrupt move earlier in day that saw it reach its highest level since early May (155.2), putting traders on high alert for another round of intervention. Japan's Finance Ministry confirmed on Monday that the U.S. and Japan conducted a coordinated yen buying intervention, and they will not hesitate to continue. This is a rare bilateral action taken to stop the yen from falling to new 40-year-lows. Scott Bessent, U.S. Treasury secretary, said that the United States will also consider increasing the size of Federal Reserve's repurchase facility in the coming months to provide temporary dollar liquidity. He called the tool "important backstop". Matt Simpson, senior analyst at StoneX, said that Besent's remarks carry more weight than his intervention. It feels like the Japanese yen is at its lowest level for the year. "The term 'joint interventions' is rarely used in these markets, but it carries a great deal of weight." Trump said that the United States helped Japan support the yen on Sunday as a gesture of friendship and in order to aid the global economy. Tokyo's unilateral intervention between late April to early May only caused a short yen recovery, and the Bank of Japan rate hike in the month of June provided little support, underlining the challenges facing policymakers due to rising oil prices and an interest rate differential with other major economies. Data from an American regulator showed that the yen was at a 40-year low of 163.99 dollars per yen in the recent weeks, and had net short positions of approximately $12.5 billion. This is the highest amount in the past two years. Masahiko LOO, senior fixed income analyst at State Street Investment Management, said that 155 is the level to watch in the near term. It has effectively served as a market floor/resistance since the May intervention of this year. Bessent's repeated calls for the BOJ to increase interest rates and his actions have brought monetary policy into sharp focus. On Monday, the 2-year JGB rate, which is most sensitive to short-term monetary policy changes, briefly reached 1.545%, its highest level since 1995 as markets priced in an early rate increase. "Intervention could shape the next few weeks. The next few years will be shaped by BOJ normalisation and hedging flows. Loo stated that the next major move of the yen could be upwards, not downwards. Oil prices dropped, which led to lower yields on U.S. Treasury bonds. The 30-year bond yield fell 3.7 basis point to 5.238%. This is a slight decrease from the 19-year high that was reached last week. Investors were confused by the Iran War and the Federal Reserve's policy outlook in July, which caused the yield to jump 372 basis points. Reporting by Ankur banerjee from Singapore, Editing by Muralikumar Anantharaman & Jacqueline Wong
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South Korean shares fall over 5% following record rally, as chipmakers are leading the sell-off
South Korean shares fell more than 5% Monday, kicking off the month of August in a rough?note. Investors sold off heavyweight chips makers?after a record rally during the previous session. As of 0420 GMT, the?benchmark?KOSPI Index fell as much as 5.5%. It had soared by an unprecedented 18% on Friday. The gauge, however, fell 22.2% during July and was the steepest drop in a month since October 2008. The stock market in Seoul has been slashed due to a rapid winding down of leveraged bets on heavyweight chipmakers, and concerns about the durability of capital expenditures by AI hyperscalers. The record Friday rally was followed by fresh selling on monday, which underscored the fragile sentiment surrounding AI investments and the outsized impact of leveraged retail betting on heavyweight chipmakers. Samsung Electronics, and its rival SK Hynix, which together account for more than half the KOSPI Index, both fell by 8.4% and 7.6% respectively. "Today's drop is better interpreted as a rebalancing of positions rather than a fundamental change." Billy Leung is an investment strategist at Global X ETFs Australia. He said that Korean equities are a good proxy for the global AI sentiment. The near-term path is likely to remain volatile, given the amount of leverage remaining in the system. However, the demand background underneath the volatility remains strong. William Bratton of BNP Paribas' Cash Equity Research in APAC says that the KOSPI is volatile. This year, 32 of 42 daily movements of more than 5 percent over the last decade occurred. Regulators introduced measures to limit the impact of high-volatility financial products. Investors remain skeptical that these measures will be enough to survive the current market slump. Bratton noted that "our discussions with investors indicate a high level of frustration" because the current volatility in the market is overshadowing the fundamental story. Data showed that July exports exceeded market expectations, thanks to a 179% increase in semiconductor shipments. A purchasing managers survey conducted by S&P Global also revealed that factory activity expanded at a faster pace in July due to export demand. Hyundai Motor, the sister company of Kia Corp, and other automakers were also up or down in the KOSPI. According to exchange data, foreigners sold shares worth 2,16 trillion won ($1.51billion) on Monday after selling a total of 9.86 trillion won last month. According to a source, the won strengthened to 1,429.40 against the U.S. Dollar, but it remained below its 1,418-level reached last Thursday, after foreign exchange authorities made a rare dollar selling intervention.
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Swiss stocks: Factors to be on the lookout for on August 3.
Here are a few of the main factors that could affect Swiss stocks on Monday. BUSINESS STATEMENTS HOLCIM - AG Swiss building materials'supplier HOLCIM said?on a Sunday that it planned to sell its Philippines business in a deal worth at least $807 millions to China Huaxin Building Materials. NOVARTIS FDA approves 'pluvicto' for PSMA+ metastatic prostate cancer with hormone-sensitive metastatic (MHSPC). This could be a?new standard in metastatic disease. Analysts' Views COMET HOLDING AG: Berenberg increases target price from CHF 480 to CHF 490- COMET?HOLDINGAG: JP Morgan increases?target to?CHF565 from?CHF500 BUCHER INDUSTRIESAG: Berenberg reduces target to CHF360 from CHF366 ECONOMY Swiss July CPI is due at 0630 GMT. Swiss July Manufacturing PMI is due at 0730 GMT. SNB sight deposits due at 0800 GMT. (Reporting by ?Zurich newsroom and Gdansk newsroom) |1|For Top ?News in ?a multimedia Web format on Eikon visit: https://bit.ly/2NDFd6g FOR RELATED PRICES, ?NEWS AND OTHER TOPICS, ?DOUBLE-CLICK ON: Daily Swiss stock market report in German All SMI ?constituent stocks DJ STOXX index Top ?10 STOXX sectors Top ?10 EUROSTOXX sectors Swiss mid-cap index Swiss all-share index Swiss market digest Sector overview All Swiss news Swiss research news All equity news SPEED GUIDES: |1|
The top cases in the US Supreme Court docket
The U.S. Supreme Court has been deciding on a number of important cases in its current term. These include issues like presidential powers, tariffs and birthright citizenship. Other topics are race, transgender sportspeople, campaign finance laws, voting rights, LGBT “conversion therapy”, religious rights, capital punishment, etc. The term began in October, and will run through June. Separately, the court has also acted in emergency cases that challenge President Donald Trump's policy.
BIRTHRIGHT CITIZENSHIP On April 1, the?court expressed skepticism about the legality Trump's directive restricting birthright citizenship within the United States. Justices asked the lawyer for the Trump administration questions regarding the legal validity and practical implications of Trump's order. The lower court blocked Trump’s order which instructed U.S. agencies to not recognize citizenship for children born in the U.S. when neither parent was an American citizen, or a legal permanent resident (also called "green card") holder. The court found that Trump's policy was in violation of the 14th Amendment to the U.S. Constitution and federal laws codifying birthright citizenship. The Supreme Court will likely rule by the end June.
TRUMP'S TARIFFS On February 20, the justices struck down Trump's sweeping trade tariffs, which he imposed under a law intended to be used in times of national emergency. This ruling has major implications for global economics. The ruling, which was 6-3 in favor of the lower court, confirmed that Trump had exceeded his authority by using this 1977 law. The court ruled that Trump's claim to have the authority to impose tariffs was not supported by the IEEPA, the 1977 law in question. Congress and not the President has the authority to impose taxes and tariffs, according to the U.S. Constitution. Tariffs are at the heart of a global trade conflict that Trump started after his second term in office. This has alienated trading partner, affected financial markets, and created global economic uncertainty.
TRUMP'S FIRE OF FED OFFICIAL Justices expressed skepticism about Trump's attempt to fire Federal Reserve governor Lisa Cook, a move that 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 is being resolved. Congress created the Fed by passing a law, the Federal Reserve Act, that contained provisions designed to protect the central bank against political interference. The law stipulated that governors could only be removed "for cause" by the president, though it does not define this 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.
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, a landmark 1965 law enacted to prevent racial bias in voting. This was during 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 district into two districts with a majority of Black people instead of one before, violated the Constitution promise of equal treatment. The ruling is expected to be made by the end June.
PROTECTED STATUS?IMMIGRANTS On April 29, the court will hear arguments over the legality the Trump administration’s decision to revoke the temporary legal protections of more than 350,000 Haitians, and approximately 6,100 Syrians who live in the United States. This is a top priority for President Trump as he pursues his policy of mass deportations. The court upheld two judicial orders which temporarily stopped the administration from ending Temporary Protected Status (TPS) for Haitian and Syrian citizens. The Department of Homeland Security under Trump has taken steps to remove TPS for a dozen or so countries. People whose country of origin has suffered a natural catastrophe, armed conflict, or another extraordinary event are eligible for the protections.
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 a decision by a lower court that said the Republican president overstepped his authority in dismissing Democratic FTC member Rebecca Slaughter before the term she was to serve expired. The conservative justices seemed sympathetic to the Trump Administration's argument that tenure protections granted by Congress to independent agency heads unlawfully infringed on presidential powers under the U.S. Constitution. The court allowed Trump to remove Slaughter until the case was resolved. The court is expected to make a ruling 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, amid an escalating nationwide effort to restrict transgender rights. On January 13, the court heard arguments from Idaho and West Virginia in appeals of lower courts' decisions siding with transgender student who challenged the bans imposed in both states as violating U.S. Constitution. 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 the sharp disagreements and uncertainty surrounding whether medications such as puberty-blocking hormones or gender affirming hormones remove male physiological advantages in sports. The ruling is expected to be made by the end June.
LGBT 'CONVERSION THERAPEUTY'
On March 31, the court rejected a Democratic-backed Colorado Law that prohibited psychotherapists from using “conversion” talk therapy to change a LGBT minor's gender identity or sexual orientation. The 8-1 decision sided with the Christian licensed counselor and deemed that the law was an intrusion into free speech rights. The court rejected Colorado’s argument that the law only protected speech, but regulated professional conduct. The court reversed a lower-court decision which had upheld a law brought by Kaley Chiles who argued it violated the U.S. Constitution’s First Amendment protections.
HAWAII GUNS LAW The conservatives expressed skepticism about a Hawaii gun law which restricts the carrying of handguns without permission on public property, such as businesses. They appeared ready to expand the right to own guns again. On January 20, the court heard arguments in a challenge by opponents of the law, backed by Trump's administration, to a judicial decision that Hawaii's Democratic backed measure probably complies with U.S. Constitution Second Amendment rights 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 On March 2, the justices heard arguments in a case in which a dual American/Pakistani national in Texas was defending a federal gun law that prohibits users of illegal drugs to own guns. Hunter Biden, son of former president Joe Biden, was charged under this law in 2023. The Justice Department appealed a ruling by a lower court that the gun restrictions were in violation of the Second Amendment rights to "keep and carry arms" guaranteed under the U.S. Constitution. Gun Control Act 1968 included a prohibition against gun ownership by illegal drug users. The decision is expected to be made by the end June.
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 ruled on restrictions on how much money can be spent on campaigns by parties with input from candidates who support them, a type political expenditure called coordinated party expenses. The ruling is expected to be made by the end June.
MAIL-IN BALLOTS
Conservative justices expressed skepticism in a March 23 case against a Mississippi law that allowed mail-in votes received after Election Day be counted. This could lead to tighter voting laws across the nation. The Trump administration supported the challenge against Mississippi's law that allows mail-in votes sent by certain voters be counted as long as they are postmarked before Election Day and received within five business days of a federal election. In Mississippi, absentee voting is only available to certain categories of voters. These include the elderly, disabled and those who live away from home. A lower court ruled that the law was unconstitutional. The court is expected to rule by the end June.
U.S. ASYLUM - PROCESSING On March 24, the court appeared to be ruled in favor of Trump's administration, which defended the government authority to reject asylum seekers if officials deem U.S. - Mexico border crossings to overloaded to handle more claims. The court heard arguments in a legal dispute over a policy known as "metering", which the Republican president may want to reinstate after Biden dropped it in 2021. It allowed U.S. immigration officers to stop asylum seekers and refuse to process their applications indefinitely. The decision is expected to be made by the end June.
Human Rights Abuses Abroad The court will hear arguments in an appeal filed by Cisco Systems on April 28, in which the tech firm and Trump's Administration are asking?justices? to limit the scope of a federal statute that has been used in the past to hold corporations accountable for human rights violations?committed overseas. 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 international human rights cases.
CRISIS PREGNANCY COUNTER The court seems to be inclined to side with an operator of Christian faith based anti-abortion crisis pregnancy centers in New Jersey, in a dispute arising from a state attorney general investigation into the question of whether or not these facilities engages in deceptive practice. During the December 2 arguments, a large majority of the Justices appeared to be inclined to revive a federal 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 INMAT 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 beliefs. On November 10, the case was brought before the court under a federal statute protecting prisoners 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.
DEATH ROW INMATE The court heard arguments in December in an attempt by Alabama officials in order to pursue the execution for an inmate who was convicted of a murder in 1997 after a lower judge found him intellectually disabled, and therefore ineligible to receive the death penalty. The Republican-led state has appealed a lower court ruling that Joseph Clifton Smith was intellectually disabled, 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 violates the Eighth Amendment of the U.S. Constitution. The Supreme Court is expected to rule by the end June.
WEEDKILLER CANCER LAWSUITS
On April 27, the court will hear Bayer’s attempt to limit lawsuits claiming Roundup weedkiller caused cancer. This could potentially save billions of dollars. Bayer appealed the ruling of a lower court in a case filed by a man claiming he had been diagnosed with non-Hodgkin lymphoma following years of exposure Roundup. The lower court rejected Bayer’s argument that U.S. laws governing pesticides bar lawsuits based on claims made under state law.
FCC FINES FOR WIRELESS CARRIER The Justices will hear on April 21, a dispute over fines levied by the Federal Communications Commission against major U.S. carriers who shared customer location data with no consent. This is the latest case that has reached the Supreme Court challenging the power of an American regulatory agency. The case concerns the FCC's pursuit to impose tens-of-millions-of-dollars in fines against carriers like Verizon Communications and AT&T before they had their day in the court.
COX COPYRIGHT DISSENSION
On March 25, the court ruled that Cox Communications could not be held responsible for piracy of songs by subscribers to its internet service. These include Sony Music, Warner Music Group, Universal Music Group, and other labels. This ended their multi-billion dollar music copyright suit. The ruling of 9-0 overturned the decision by a lower court to order a trial to determine the amount the internet service provider was liable for the record labels under a form liability known as contributory copyright violation. Cox said that a retrial would have resulted in a verdict of up to $1.5 billion against the Atlanta ISP.
(source: Reuters)