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ROI-Global trade in rude health? McGeever: Yes, with a catch
Global trade is not cooling in the shadow of tariffs and trade wars. It's heating. How durable is it when the price and not the volume is what's stoking up the flames? Recent trade data from the U.S., China and other major economies show that cross border commerce is growing at a faster rate than economists expected. In many cases the "increased activity" and the "surprisingly strong headline export numbers" were primarily driven by "higher prices". These reflect the spike in inflation caused by the Iran War, particularly on the oil and energy markets. This was especially true in the U.S. where exports reached a record of $327 billion last month, largely due to shipments of a wide range goods. In fact, the goods surplus shrank to the lowest level since 2020. This is good news for the U.S. economic system, since the declining deficit could contribute to the growth of the economy in the second quarter. This may be primarily due to the high prices of fuel, oil and other energy products. It is important to ask how long the improvements will last. It's not only the price that matters. Canada's physical export volumes are now back where they were prior to the U.S. Presidential election which returned Donald Trump to office in November 2024. This has triggered trade tensions with the United States. According to CIBC, the exports of April were only second to those in February last year when companies were preparing for Trump's looming duties. Base effects are another factor which may have a positive impact on headline trade figures. The slowdown in trade during the first half of the year as Trump's tariff wars began is now used to compare year-over-year figures. It is too early to predict a trade revival. CHIPS, CHIPS HORAY The price is also playing a major role in Asia's trade explosion, but the booming AI-related demand also fuels the sizzling numbers. China, the largest exporter in the world, saw its total exports rise 19.4% in May. Pantheon Macroeconomics says that sales of high-tech goods accounted for 12 percent. While the value of integrated-circuit exports has more than doubled in the last year, the export volume rose by only 2%. This suggests that the headline figure is inflated because the price was high. The same thing is happening in other sectors. However, Beijing policymakers and critics will continue to focus on headline dollar figures, particularly the large one, China's total 12-month rolling trade surplus of more than $1 trillion. Taiwan's AI export surge was even more impressive. Exports rose in May more than expected to the second highest level by value ever, up almost 52% compared to a year ago. Price was again a major factor. TSMC, the largest manufacturer of 'advanced chip technology used in AI applications', is based in Taiwan. It also supplies Nvidia and Apple, among other tech giants. Chips, computer equipment and software, as well as other high-tech products, have seen a surge in price over the last year, largely due to an explosion in demand. Goldman Sachs Global Institute estimates that AI-related investments will reach $7.6 trillion by 2031. SURPRISING RESILIENCE Global trade has shown remarkable resilience, which few observers could have imagined possible in the face of volatile market conditions. Trump's "Liberation Day tariffs" triggered a global trade war, which may have ended decades of internationalization. Geopolitical rifts also threaten trade flows, notably in Middle East. AI frenzy?can be credited with keeping global trade moving. The demand for these applications has accelerated, and much of the trade of AI-related products takes place across borders. The question is, can this continue? Could the rise in AI compute costs curb demand eventually? Could major powers seek to reduce AI supply chains in order to minimize national security risks? The AI boom is unlikely to fade away anytime soon, which suggests that trade activity could'remain resilient', even in the face of deglobalization, tariffs and protectionism. Everything seems to be dependent on the outcome of this tech story, just as it is with other parts of the global economic system. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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IIR reports that the gasoline unit of Nigeria's biggest refinery will resume full rates by mid-June.
IIR Energy, a monitor of the oil industry in Nigeria, said that Dangote's refinery had derated its gasoline-making unit (RFCC), by 34%. The?unit is expected to resuming full fares around mid-June. The refinery didn't immediately respond to our request for comment. "Initially, the lighter crude that was being processed resulted?insufficient feed availability for the RFCCU. By the end of the month, IIR Energy confirmed that there was a problem with the RFCCU's flue gas sliding gate valve. IIR confirmed that the repair work is nearly complete on "that issue" in an email. Fuel prices are at record highs due to the war in the Middle East. Africa's biggest refinery was fully operational in early 2018. Its goal was to?transform Nigeria into a major supplier of?refined? products after decades of inadequate refinery capacities. According to Kpler's data, gasoline exports have fallen from 81,000 barrels per day last June, down to 17,000 barrels a day in May.
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Expected increase in US consumer prices for May
The Federal Reserve has more reasons to maintain interest rates at the same level until 2027, as U.S. consumer inflation grew at its fastest pace in three years during May. According to the Labor Department Bureau of Labor Statistics, on Wednesday, the Consumer Price Index rose 4.2% over the 12-month period ending in May. This is the biggest gain since April 20,23. In April, the CPI increased 3.8% on a year-on-year basis. Prices rose 0.5% monthly after a 0.6% increase in April. Economists surveyed by predicted?the CPI to increase 4.2% on an annual basis and gain 0.5% monthly. Inflation has been outpacing wage growth for the second consecutive month, which could weigh on overall economic growth. For the second straight month, inflation outpaced wage increases. This could have an impact on economic growth. The rising cost of living has become a political liability for Donald Trump and his Republican Party as they seek to maintain control of Congress during the November midterm elections. Trump's promise to reduce inflation was a major reason he won the presidential election of 2024. However, his approval ratings have fallen as frustration grows over his economic management. Core CPI, excluding volatile components such as food and energy, increased 2.9% on an annual basis in May. This was after a 2.8% increase in April. The so-called core CPI rose 0.2% monthly after increasing 0.4% in April. For its 2% target, the U.S. Central Bank tracks Personal Consumption Spending Price Indexes. All inflation measures are well above the Fed target. Data from the U.S. Energy Information Administration revealed that in May, the national average gasoline cost increased by?8.8% to $4.60 per gallon. Gasoline prices were at one time up by over 50% since the U.S. Israel and the United States attacked Iran in late February. In recent weeks, prices have fallen amid a ceasefire. This has led some economists to cautiously hope that May will be the CPI peak. This report came after news that the economy had posted a?month with above-expectations growth of jobs in May for a third consecutive?month. For the third month in a row, the?unemployment level remained at 4,3%. Although financial markets are pricing in an increase, economists continue to believe that the central bank has a high bar to raise interest rates. (Reporting and editing by Andrea Ricci, Chizu Nomiyama, and Lucia Mutikani)
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Sempra says Texas grid projects require over $7 billion investment after ERCOT backing
Sempra, an energy infrastructure company, announced?on Wednesday it had received approvals for a number of new transmission projects in Texas. These, along with earlier go-aheads are expected to cost over $7 billion. Last week, the Electric Reliability Council of Texas, the operator of?the electricity grid in Texas, approved the new projects. According to the U.S. Energy Information Administration (EIA), U.S. electricity demand reached'record levels' in 2025, and it is expected to continue to rise 'this year as tech companies rapidly build data centers that use as much electricity as an entire town at one site. Sempra’s latest projects include new lines along the I-35 and southern Dallas-Fort Worth corridors, along with a?upgrade approved in April. These are expected to support 16 gigawatts in new power demand. As they rush to meet the soaring demand of tech giants, power companies in the U.S. are raising prices and increasing capital expenditures to expand infrastructure. Oncor Electric Delivery Company in which Sempra holds an 80.25% stake?expects the?majority? of the projects to be constructed. The projects should be completed between 2026-2034. Reporting by Katha Kalya in Bengaluru, Editing by Shailesh Kuber
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Hungary's Lake Velence is drying up and threatening tourism, wildlife and
Experts and locals say that the water level in Hungary's largest lake will?fall to new lows due to climate change and years of mismanagement of water. This could threaten its ecosystem and tourism sector. Experts say that Lake Velence is a popular destination for holidaymakers, but the water level may soon be too low to allow swimming and sailing. A recent warm day saw children playing on newly exposed sandbanks that extended far beyond the shoreline of the lake. Rental boats were resting at a jetty, now far away from the water, and on the sand. Data from the National Directorate General for Water Management revealed that the lake level in the town of Agard measured 56 cm, only 3 cm higher than the 'historic low' of 53 cm, which was recorded in 2022 - the year Hungary suffered an extreme drought. The water level was 80 cm in the early months of 2026. Experts warned that without substantial rain, the water level could drop by as much as half a centimetre per day, and reach as low as 30cm by summer's close. Tibor Horanyi, from the Association of Great Lakes, said that the water level would drop by at least 25-30cm in the next 30-40days and that the record low will be reached within days. Horanyi said that the problem was not just climate change, but also decades of poor water management. Businesses have already been affected by the disruption. Peter Szaniszlo, a sailing instructor, has started moving his operations to the?Lake Balaton. "Most people who wanted to learn how to sail chose me because Lake Veence is near Budapest. "Now they have to go to Balaton," said he. GOVERNMENT PLEDGES TO ACT Laszlo Gájdos, the Minister of Environment, met last week with local mayors, water management experts, and NGOs to discuss the future of the lake. Gajdos stated in a Facebook post that the government is working to improve the water quality and restore the shoreline. It will take some time to figure out how to replenish water in Lake Velence, according Arpad 'Pal Eotvos the mayor of Gardony a town located on the lake. Eotvos stated, "We'll have to adapt to this." As the climate changes, so will we. (Written by Anita Komuves, edited by Alexandra Hudson).
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In May, the share of Russian aluminium in LME stocks rose to 93%.
Data from the London Metal Exchange showed that, in May, the share of Russian-origin aluminum stocks in London Metal Exchange warehouses increased to 93%, up from 72%, in April. This was due to traders' decision to withdraw Indian metal. The total available or on-warrant aluminium inventories (0#MALSTXLOC>) on the LME dropped 23% to 254,625 tons in May, and now stand at 250 525 tons. This is the lowest level since May 2025. Production and logistics constraints in the Middle East are limiting global supply. Absolute terms, the amount of?Russian aluminum available in May fell by 3,950 tonnes to 237.175. The?share of?Russian aluminium rose however as Indian stocks fell by a greater 71,750 tonnes. After the withdrawal of 2,275 tonnes of Indonesian aluminum, the LME warehouses only had?17.450 tons of Indian aluminium left at the end May. In March, the share of Russian aluminium had reached 92% before Indian aluminum was placed back on warrant. Many traders do not want to deal with Russian metal, even though it can be traded if it was produced before April 13, 2020. To comply with Western sanctions, aluminum produced in Russia after that date is not allowed to be stored at the LME warehouse system. The share of Chinese copper in the LME's copper stock increased to 53% from 51% in April, despite the fact that the total amount dropped by 36,425 tonnes to 141.025 tons. The total?available copper stock decreased by 79.375 tons, to 266,875 tonnes. At the end of December, the?share of Chinese nickel remained at 71% of LME stock. Reporting by Tom Daly. Mark Potter (Editing)
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India rejects US claim of excess capacity in textiles and steel
Amitabh Kumra, a trade official in India, said that India did not have'surplus manufacturing capacity' in textiles and steel as claimed in the Section 301 investigation by the U.S. Trade Representative. Washington has cited structural surplus capacity in Indian industries, from solar panels and petrochemicals, to steel and textiles. It also cites its $42 billion goods trade deficit with the United States by 2025. Kumar, India's Additional Trade Secretary, said that its textile and Steel output should be evaluated in relation to the size of its population, its domestic demand, and its growth needs rather than its absolute production. "Overcapacity" is a matter of perspective. Kumar stated that they did not believe there was any overcapacity. He added that India's textile consumption per capita was low, especially for?man-made fiber and technical items. This country has a tropical climate. We wear cotton. "How can we have an overcapacity?" Kumar rejected U.S. concerns about?steel production, saying India's requirements reflected the country's development. He said that India's per capita consumption of steel is one of the lowest in the world. The output remains low compared to the population and growth requirements. Analysts say Washington uses the threat of Section 301 Tariffs to pressure India to increase its purchases of U.S. energy products and defence goods, and to open up their markets to agricultural products and other products. New Delhi wants a deal with the United States that would include preferential tariffs for competitors. However, the negotiations have been clouded due to the uncertainty surrounding the U.S. investigation against India. In March, the USTR office launched investigations against India among 16 other countries for policies like subsidies, state funding and industrial planning which 'let factories continue producing even when market conditions were not supportive. The U.S. has proposed an additional 12.5% tariff on imports of goods from India, and other countries. They cite their?uses of forced labour. India, however, says that these are not final as?New Delhi engages Washington in the Section 301 Process. USTR also considers a separate tariff against India. It claims that there is excess capacity in certain sectors, such as textiles, and exports hurt the U.S. industrial sector. Kumar claimed that the move was aimed at "a particular country" while also serving to further other commercial goals. The Trade Minister Piyush Goyal stated last week that both sides are moving quickly to finalise the first tranche of an agreement on trade, possibly as early as mid-July. (Reporting and writing by Manoj Kumra; editing by YPrajesh, Clarence Fernandez and Sakshi Dayal)
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The chips in MORNING BID AMERICAS are blue
What's important in U.S. and Global Markets Today By Mike Dolan, Editor at Large, Finance and Markets It's unnerving that the relapse of U.S. Tech stocks on Tuesday occurred as oil prices dropped sharply in the same session. This shows how stock market anxiety extends "well beyond" the energy story. The crude?prices on Wednesday were volatile after the U.S. and?Iran exchanged missile strikes overnight, the most alarming direct interaction between the two sides since the fragile ceasefire was established. Below, I will go into more detail. Check out my most recent column about why the stock exchange is becoming more important to a growing number employees and households. Listen to the Morning Bid podcast. Subscribe to the Morning Bid daily podcast and hear journalists discussing the latest news in finance and markets seven days a weeks. The SOX chip index dropped nearly 2% Tuesday, but the selloff at midday was much more severe. It had been over 8%. Wednesday's equities market mood was further darkened by the fall of Asian indexes and the decline in U.S. Futures before the bell. This comes before the U.S. CPI report for May, which is expected to be released?on Tuesday. Headline inflation will likely creep over 4% for the very first time in 3 years. Core inflation is predicted to hover around 3%. The report is not only going to set the tone for the stock market, but also a 10-year Treasury Auction later that day. A Federal Reserve rate increase by the end of the year has now been baked into the futures markets. The ECB could deliver a rate hike tomorrow. Meanwhile, Japanese wholesale price data released on Wednesday confirmed that the Bank of Japan would follow suit next Monday. Chinese producer inflation data showed that prices were also hot in China last month. Oil's dramatic fall to a 7-week low Tuesday was one of the few positives in the last 24 hours. The U.S. claimed that oil exports were increasing through the Strait of Hormuz, while Washington and Tehran are struggling to reach an agreement. The renewed U.S. - Iran hostilities'muddied' the picture a bit, as crude prices rose before reversing their gains in volatile trading on early Wednesday. Even though oil prices have fallen, some are still concerned about a possible supply shortage this month due to the shrinking U.S. crude oil stocks. This all sets a noisy, bumpy background to the SpaceX IPO that will take place later this week. Some say that the event is contributing to the market volatility as investors are clearing the decks to accept the new offer. Chart of the Day The U.S. Trade deficit shrank in April, as exports of capital goods and petroleum products jumped to new records. Oil exports jumped to $37 billion, a record-high from $28 billion dollars in March. This was due to both increased volumes and the?elevated prices of oil tied to Middle East conflict. The U.S. has become a net exporter of oil. Its petroleum trade surplus increased to $17.7billion from $9.4billion in March. Watch today's events * U.S. CPI for May (8:30 am?EDT). * U.S. 10-year note auction (1 p.m. EDT) Want to receive the "Morning bid" in your email every morning? Subscribe to the newsletter by clicking here. Follow us on LinkedIn, X and ROI. The opinions expressed by the author are their own. These opinions do not represent the views of News. News is committed to the Trust Principles and values integrity, independence, freedom from bias, and impartiality.
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 voting rights, presidential power, tariffs and birthright citizenship. Other issues are race, transgender sportspeople, campaign finance laws, LGBT "conversion therapies" and federal agency authority. The term began in October, and will run through June. Separately, the court has also acted in emergency cases involving challenges against President Donald Trump's policy.
VOTING RIGHTS ACT On April 29, the court gutted a crucial provision of?the Voting Act, making minorities less likely to challenge electoral maps under this landmark civil rights act as racially biased. The court blocked a map that would have given Louisiana a U.S. Congress district with primarily Black constituents. The court's ruling undermined Section 2 in the Voting Rights Act. Congress passed it to prevent electoral maps from diluting the power of "minority" voters. After the Supreme Court gutted another part of the Voting Right Act in 2013, Section 2 gained more importance as a barrier against racial bias in voting. Black voters are more likely to vote for Democratic candidates.
Birthright Citizenship The court expressed skepticism about the legality of Trump’s directive on April 1, to restrict the birthright citizenship of Americans. Justices asked the lawyer for the Trump administration questions regarding the legal validity and practical implications of Trump's order. A lower court blocked Trump's executive order that 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 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 TARIFS The judges on February 20, 2018 struck down Trump's "sweeping tariffs" that he pursued in accordance with a law intended for national emergencies. This ruling has major implications for global economics. The ruling, which was 6-3 in favor of the lower court decision that Trump had exceeded his legal authority by using this 1977 law, upheld that decision. The court ruled that Trump's claim to have the authority to impose tariffs was not supported by 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 The 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" and did not specify the procedure 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.
PROTECTED STATUS OF IMMIGRANTS On April 29, the justices heard arguments examining Trump's administration's actions to strip humanitarian benefits from hundreds of thousands Haitian and Syrian migrants, as part of his signature crackdown on immigration. The Trump administration appealed two federal judge's rulings that halted its efforts to terminate Temporary Protected Status (TPS), which the U.S. Government had previously granted to over?350,000 Haitians and 6,100 Syrians. Some conservative justices seemed to agree with the administration that courts could not second-guess the decision of the government to end TPS. Some justices questioned also the claim made by the challengers, that the administration had not followed mandatory protocols when making decisions in accordance with the law governing TPS. The ruling is expected to be made by the end June.
FEDERAL COMMISSION FIREING The conservative justices of the court have signaled that they will uphold Trump's legality in firing a Federal Trade Commission Member and also give a historical 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 decision that the Republican President exceeded his authority by dismissing Democratic FTC member Rebecca Slaughter before her term expired in March. 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. 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, 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 court decisions siding with transgender students. The bans were challenged by the students as being in violation of the U.S. Constitution, and a federal antidiscrimination act. 25 other states also have laws similar to Idaho's. 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'
On March 31, the court rejected a Democratic-backed Colorado Law that prohibited psychotherapists from utilizing "conversion talk therapy" intended 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's?decision which had upheld a law brought by Kaley Chiles who argued it violated U.S. Constitution protections against government abridgment.
HAWAII GUNS LAW The conservatives expressed skepticism about a Hawaii gun law which restricts the carry of handguns in public places, such as businesses. They appeared ready to expand the right to own a firearm again. On January 20, the court heard arguments in an appeal filed by opponents of the law, backed by Trump's administration. The challengers were appealing a ruling by a judge that Hawaii's Democratic backed measure likely conforms to 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. Similar laws exist in four other U.S. states. A decision is expected to be made by the end June.
Drug Users and Guns On March 2, the justices heard arguments in the Trump Administration's bid to defend a federal statute that prohibits users of illegal drugs in Texas from owning firearms. 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 restricted 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
Conservative justices expressed skepticism in a March 23 case against a Mississippi law that allowed a five-day period of grace for mail-in votes received after Election Day. This could lead to tighter voting laws across the country. 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: The court seemed likely to rule in favor?of the Trump administration's defense of its authority to reject asylum seekers when officials deem U.S. - Mexico border crossings to be too overloaded to handle more claims. On March 24, the court heard arguments in a dispute over a policy known as "metering", which Biden's administration dropped in 2021. The Republican president may want to reinstate it. It allowed U.S. Immigration officials to stop asylum seekers and refuse to process their applications indefinitely. The decision is expected to be made by the end June.
WEEDKILLER CAUSES CANCER The court seemed divided on Bayer AG’s efforts to stop thousands of lawsuits alleging that the German company failed to warn users of the dangers of the active ingredient of its Roundup weedkiller. On April 27, the court heard arguments in Bayer’s appeal of a Missouri state court jury verdict awarding $1.25million to a man called John Durnell, who claimed he had been diagnosed with non-Hodgkin's lymphoma following years of exposure. The lower court rejected Bayer's argument that U.S. pesticide law bars lawsuits based on claims made under state laws. The ruling is expected to be made by the end June.
Human Rights Abuses Around the World The court heard arguments in April 28 on a case that has broad implications for American human rights litigation. Members of the Falun-Gong spiritual movement have accused Cisco Systems, of facilitating religious persecusion in China. Cisco appealed the 2023 ruling of a lower court that gave new life to the 2011 lawsuit brought under the?Alien Tort Statute of 1789. The case accused Cisco of developing technology which allowed China's Government to monitor and persecute Falun Gong Members. Cisco asked the court to limit the scope and application of the Alien Tort Statute which allows non-U.S. Citizens to sue in American courts over violations of international law. The court is expected to make a ruling by the end June.
SEC'S DISGORGEMENT POWER The Justices appeared to be inclined to support the U.S. Securities and Exchange Commission (SEC) in a case that tested the limits of one of its key powers. A financial remedy known as disgorgement, it seeks the recovery of profits from illegal activities. On April 20, the majority of justices seemed to be receptive of the Trump administration's defense of the SEC’s disgorgement powers. The ruling is expected to be made by the end June.
FCC fines wireless carriers
In response to a challenge to the Federal Communications Commission’s regulatory powers by major wireless carriers, the justices seemed inclined to maintain the Federal Communications Commission’s system of levying fines. During the April 21st arguments, the majority of justices appeared to be skeptical about the claim made by a Verizon Communications and AT&T lawyer that the in-house procedures of the Federal Communications Commission deprived them of their constitutional right to a trial by jury. The ruling is expected to be made by the end June.
'GEOFENCE" WARRANTS On April 27, the court heard arguments in a Virginia case over whether law enforcement using a "geofence warrant" to identify suspects based on data from mobile phones near crime scenes is a violation of the Fourth Amendment's bar against unreasonable searches. Geofence warrants approved by the court compel companies, such as Alphabet’s Google in this instance, to search mobile device location data of customers who were close to the crime scene at the time the crime was committed. In this case, a defendant pleaded conditionally guilty to robbing an institution of higher learning while reserving the right to argue against evidence obtained from what he believes was an illegal search. The ruling is expected to be made by the end June.
CRISIS PREGNANCY COUNTER The court sided on April 29, with the operator in New Jersey of Christian faith based anti-abortion crisis pregnancy centers that are trying to impede an investigation by the state into whether these facilities engage in misleading practices. First?Choice women's resource centers brought a lawsuit against a subpoena issued by the state attorney general in 2023 seeking information about the organization's doctors and donors. The lawsuit had been dismissed by a lower court. First?Choice is a group of facilities that aims to discourage women from getting abortions.
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. The case was brought before the court on November 10 under a federal statute protecting people incarcerated 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 upon 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 the U.S. Constitution prohibiting cruel and unusual punishment. The ruling is expected to be made by the end June.
COX COPYRIGHT DISSENSION
On March 25, the court ruled that Cox Communications could not be held responsible for the piracy of songs by its subscribers, owned by Sony Music Group, 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)