Latest News
-
Administrators say that Australia's sole manganese smelter will close.
Administrators announced on Thursday that Australia's sole manganese smelter in Tasmania, the Liberty Bell Bay Smelter will close immediately after a failed sale. The former British billionaire Sanjeev Gupta owned the smelter. It was placed under voluntary administration by March, after it had ceased operations in mid-last. In a'statement, EY stated that "in the absence of a commercially viable?transaction and the required funding to continue operations, the Administrators made the difficult decision to begin the orderly closure?of the?business with immediate effect." GFG did NOT immediately respond to a comment request. The smelter had been experiencing a period in which it was having difficulty supplying ore due to problems caused by cyclones and setbacks experienced at its key supplier Groote Eylandt Mining Company, South32. Tim Ayres, Minister of Industry, said that despite the federal and state governments' support, including A$10m ($6.99m) in wages and a A$20m?startup package and a continuation of a 10 year concessional power contract?struck last year with GFG Group, a serious buyer could not be found.
-
Nuclear fuel company Standard Nuclear raises 150 million dollars in US IPO
Standard Nuclear announced on Wednesday that it has raised $150m in its U.S. initial public offering, after cutting its offer size by more than half. Investors remained cautious over 'valuations. The Oak Ridge, Tennessee nuclear fuel company, which sold 10,000,000 shares at $15 per share, valued it at about $2.41 Billion. The shares will begin trading at the New York Stock Exchange under "STDN" on July 16. Originally, the company had planned to sell 18.25 million shares between $18 and $21 per share. The IPO market is gaining momentum despite the geopolitical uncertainties, as the resilient equity markets are encouraging companies to go ahead with their listing plans. Investors continue to examine valuations. Nuclear-sector 'companies listed recently' have struggled to hold onto their debut gains. X-Energy, Deep Fission and other reactor developers are trading below their IPO price. Companies in this sector will benefit from the U.S. Government's push to expand the nuclear power industry. The goal is to quadruple the country's capacity of nuclear power by 2050 to meet the rising demand for electricity from AI-driven data centres, electric vehicles, and cryptocurrency. Standard Nuclear is a producer of nuclear fuels for advanced 'nuclear reactors. This includes small modular reactors as well as microreactors. The company focuses on scaling up domestic capacity. After the offering, Thomas Hendrix's?Class B shares will give him 60.8% of voting power in the company. Standard Nuclear intends to use the IPO proceeds for working capital, corporate purposes, and possible acquisitions - or investments in complementary businesses, technologie, or assets. Underwriters of the offering include Goldman Sachs, Barclays, and UBS Investment Bank.
-
Bonds cheer lower inflation, while Asian shares fall on chipmaker drag
Asian shares dropped on Thursday, as chipmakers stumbled before results from bellwether TSMC. Bonds benefited 'from another benign reading of U.S. inflation which?lessened risk of an impending rate hike. As hostilities escalated in the Middle East, oil prices continued to rise. Washington has continued to strike Iran following the re-imposition of a naval blocade on its ports. Meanwhile, Tehran has warned of an "existential conflict" with America. Brent crude futures increased 0.6% to $85.45 per barrel, adding to the 12% gain this week. The quarterly earnings of Taiwan Semiconductor Manufacturing Co. (TSMC), world's leading manufacturer of advanced AI chip, are the focus. The company's net profit is expected to increase by 59% for the period April-June, marking a fifth consecutive quarter of record earnings. Investors are not happy as ASML shares, the dominant global supplier of equipment used to manufacture high-tech computer chip, ended 0.4% lower despite it raising its sales forecasts for 2026 and pledging a capacity increase. Brian Heavey said, in a JPMorgan note, that he was "seeing aggressive pullbacks in Memory/Hardware". Don't believe there is a 'negative headline' that's driving the semis/hardware sale. "I think it just shows how high semis earnings are." The?selling spread to Asia. MSCI's broadest Asia-Pacific index outside Japan fell 1.7%, while South Korea's KOSPI dropped 6.3% due to SK Hynix's 11% drop and Samsung's 8% decline. Japan's Nikkei dropped 3%. Taiwanese stocks fell by 0.5% while China's Hang Seng Index rose 1.2%. The South Korean central bank increased interest rates to 2.75 percent on Thursday for the first increase in three-and-a half years. This was done to stabilize a falling won and to combat persistent inflationary pressure. The decision was mostly as expected. Wall Street gained overnight, as investors shifted from semiconductors to Magnificent Seven and banks following strong earnings by major lenders. However, Asia is more susceptible to the chip selling-off due to its greater exposure to "semiconductor" stocks. BONDS CHEER COOL INSFLATION The surprising softness of the U.S. consumer inflation data in June was added to the positive figures for the previous day. Markets now price out the likelihood of a rate hike by the U.S. Federal Reserve within the next month to only 10% from 43% at the beginning. The pullback in inflation will likely only be temporary as oil prices are expected to rise due to renewed Middle East hostilities. The Wall Street Journal reported that President Donald Trump was leaning toward expanding U.S. operations in Iran and sending ground forces. Bond investors are however focused on the cooler inflation data. The yields on two-year Treasury bonds increased by 2 basis points, to 4.1493%. They had fallen 14 bps in the previous?two days. Ten-year yields remained at 4.5593% after falling 7 basis points over the last two days. The dollar fell against all currencies except the yen. The dollar index was steady at 100.48 after dropping 0.4% overnight, to the lowest level since June 18. The yen was hovering at 162.08, not far from its 40-year low 162.84, as speculators remain cautious of Japanese intervention. The pound reached a two-month high on the expectation that Andy Burnham will choose a fiscally conservative Finance Minister, if he is named Labour Party leader this Friday. The pound rose 0.1% to $1.3538 after a 1% surge overnight. Gold remained at $4,055 per ounce.
-
El Nino could affect growth, warns Peru's central banking chief after weak May GDP
The chief of Peru's central banking Julio Velarde warned on Wednesday that El Nino would "likely" weigh on economic activity in the coming months, as it did in May when the country recorded its lowest growth rate for the year. According to data released by the national statistics agency INEI in May, Peru's GDP grew 1.8% from a year earlier. This is below the 3.2% predicted in a survey and slower than April's 3.73% growth. Velarde stated that "Perhaps, the figures we will see in 'the coming months won't be as?good because they are derived?from an existing natural phenomenon." He added that the overall economic climate remained favorable due to the "exceptional" price of the minerals exported by the country. The 73.1% drop in fishing output was the main factor behind 'the slowdown'. Warmer surface waters, linked to El Nino, pushed fish like anchovies deeper into the water. INEI reported that the manufacturing output fell by 10.7% as climate change affected the production cycle of textile?industry. Industry groups have warned that a strong El Nino can affect cotton production and lower the demand for winter clothing. It could also complicate logistics due to flooding and rains.
-
BHP's quarterly iron ore price rises despite China's purchasing curbs
BHP Group reported record iron ore production and higher realised prices on Friday, despite the purchasing restrictions imposed by China Mineral Resources Group during tense contract talks earlier this summer. BHP's Western Australia iron ore operations produced 291.2 Mt of iron ore on a 100 percent basis, which is higher than the 290 Mt. In fiscal 2026, the average realized price for iron increased by 3% to $84.56 a wet ton. BHP didn't mention any price impacts from its annual negotiation with China's State Buyer, after reporting in April that?its biggest client had lifted its prohibition on certain products. China's state-owned buyer is flexing his muscles in annual price negotiations with big iron ore miner companies. It wants to take advantage of its size and pay less for the ore to lower costs for its steelmakers. The miner expects to produce between 284 and 296 Mt of ore in fiscal 2027 from its Western Australia operations. Visible Alpha's consensus for the quarter ending in 2026 was 75.1 Mt. The 77.5 Mt production of the same period last year was based on the Visible-Alpha consensus. BHP's Port Hedland Iron Ore Operations, which handles $80 million in iron ore per day, is set to strike later on Thursday. Negotiations are expected to resume next Tuesday. COPPER PERFORMANCE & OUTLOOK The quarterly production of Copper, which BHP views as a source of long-term value growth, reached 491,900 tonnes in the quarter ending June 30. This was largely in line?the Visible Alpha estimation of 492,700 tones and less than 516,200 tones reported last year. Major miners are focusing more on copper as the demand for it increases, driven by the rapid growth of power consumption by AI data centers and the transition to cleaner energies. The underground conveyor belt at Carrapateena was unable to function properly last quarter due to a 'unexpected failure'. This process of recovery and replacement is expected to affect mine production for eight weeks. The copper production is expected to fall by as much as 15% next year, due to a predicted grade decline at Escondida. BHP projected that unit costs for fiscal 2026 would be lower than its forecast range. This shows a strong cost management, and resilience to a challenging macroeconomic climate. Separately the miner announced approval of $900 million for the Ministers North Iron Ore?project, in Pilbara. First output is expected in fiscal year 2029. Early trade saw shares fall more than 1%, while the sub-index for mining fell by a little over 1%. BHP will release its annual results on 18 August.
-
Sources say that China refineries are opting for less expensive crude oil in order to reduce their fuel oil consumption.
Industry sources say China's fuel demand will take a long time to recover after its imports hit a record low. Refiners reduced production and opted for cheaper crude as a result of the U.S. - Iran war. China's low demand for high-sulphur oil (HSFO), one of Asia’s largest importers, is expected to limit prices. This is despite the fact that the market has strengthened after Washington and Tehran intensified their attacks on the Middle East disrupting Gulf supply through the Strait of Hormuz. LSEG data show that the Asian refiners' margins for 380 centistoke HSFO rose to a discount of less than $2 a barge to Brent on March 13, which was the highest since more than a year. The?380cst HSFO crack for Dubai has risen to a premium of over $3.25 a barrel. A trading source at a Chinese refiner who refused to be identified due to commercial sensitivity said that "Regular crude oil currently trades at ICE levels between minus $5 and minus $8 a barrel." Fuel oil is no longer able to compete. In June, China's refinery run rates plummeted by a decade due to a weak domestic market and the export restrictions on refined oil products that followed the outbreak of conflict. The conflict has lowered the demand for fuel oil as an alternative to crude oil. Imports hit a record low in May According to LSEG data dating back to 2004, China's total imports of fuel oil in May fell to a monthly record low of approximately 559,000 metric tonnes (115,000 barrels). HSFO is a fuel that can be refined or used in marine fuel. According to Vortexa's ship-tracking data, June fuel oil imports totaled 700,000 to 800,00 tons. This is a slight increase from May, but still well below the typical import volume. In the first quarter 2026, China's fuel imports were about 2.29 millions tons per month compared to 1.8 million tons in 2025. Analysts and traders said that fuel oil imports may have recovered slightly in June and into July. However, they mainly used to refuel ships, not refineries. Chinese refineries import fuel oil primarily from Russia, as well as the Singapore and Malaysia trading hubs. According to Asian trading sources and refinery, the price of crude oil has also become more competitive. Traders said that spot offers for Russian straight-run oil fuel are currently muted due to low interest in buying. Russian fuel exports also fell as Ukraine intensified its attacks on Russian infrastructure. Chinese refiners are turning to discounted crude to take advantage of the additional?crude importquotas that were issued this year. Analysts said that while Beijing has eased the export restrictions for refined products, it is not clear whether this will lead to a rapid recovery in run rates or feedstock purchases.
-
The fourth day of rising oil prices as a result of US strikes against Iran has raised fears about wider conflict
The price of oil rose on?Thursday for a forth consecutive day after a wave of U.S. strikes?on Iranian installations fueled fears of a full-scale conflict and supply?disruptions? in the Strait of Hormuz. After reimposing its naval blockade, the United States hit?Iran?s?coastal defenses and missile sites, on Wednesday. Iran, meanwhile, threatened to cut off regional energy exports by saying that it was in a "existential conflict" with America. Brent crude futures were up 33 cents or 0.4% to $85.28 a barge by 0026 GMT. U.S. West Texas intermediate futures were up 42 cents or 0.5% to $80.02 a barrel. Both benchmarks rose about 0.3% Wednesday, and hovered near the one-month highs?touched Tuesday. Hiroyuki Kikukawa is the chief strategist at Nissan Securities Investment. He said that "while mediation efforts are continuing by neighbouring nations and the consensus is that a full-scale conflict is unlikely," WTI could rise to between $85-$87, depending on the outcome of the conflict. The oil prices rose this week, as the Strait of Hormuz was a major supply hub for oil and natural gas before the war. Last week, hostilities between Iran and the U.S. re-emerged, threatening to undermine a fragile truce that had been reached in June following several months of fighting. Analysts claim that Iran may have signalled its intention to use Houthi allies to close the Bab el-Mandeb Red Sea gateway through?Yemen, opening a front against Washington. This would put two of 'the most vital energy arteries in the world at risk. Goldman Sachs stated that Brent could reach $110 if the Gulf exports continue to stagnate, but could drop into the $60s at year's end if tensions ease and production recovers more quickly than expected. The U.S. Energy Information Administration reported that crude inventories dropped by 1.7m barrels during the week ending July 10 compared to analysts' expectations of a 2.6m-barrel draw. (Reporting and editing by Shri Navaratnam.)
-
BHP misses quarterly copper output estimates, flags lower Chilean production
BHP Group announced a larger-than-expected decrease in fourth-quarter copper production on Thursday. This was due to lower production in 'Escondida' and 'Pampa Norte. The Visible?Alpha estimate for the quarter ending June 30 was 492.7 Kt. The same period last years, 516.2 Ktreported. The unexpected failure of an underground conveyor belt in Carrapateena has impacted the production at Copper South Australia. It is expected that the recovery process will result in a mine 'production impact of up to 8 weeks. The copper production for fiscal year 2027 is forecast to range between 1,650 Kt to 1,800 Kt. This will be below the fiscal output of fiscal 2026, which was 1,952.8 Kt. BHP's Western Australia iron ore operations produced 74.8 Mt of iron ore on a quarterly basis, which is below Visible Alpha's consensus of 75.1 Mt and the 77.5 Mt that was produced during the same quarter a year ago. In fiscal 2026, the average realised price for iron increased?3%, to $84.56 wet metric tons. The miner announced that $900 million had been approved for the Ministers North Iron?Ore Project in Pilbara. First production is expected to begin in fiscal year 2029. Reporting by Sneha Kumar and Sherin Sun in Bengaluru, editing by Pooja Deai
The top cases in the US Supreme Court docket
The U.S. Supreme Court has decided a number of important cases in its current term, including those relating to President Donald Trump, voting rights and tariffs, immigration, guns, transgender sportspeople, campaign finance laws, and LGBT "conversion therapies."
This is a list of some of the cases that were argued in the current term. The term began in October, and will run through the end of June.
VOTING RIGHTS ACT On April 29, the court gutted a crucial provision of the Voting Right Act, making minorities less likely to challenge electoral maps under the landmark civil right law 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 of the Voting Act, which Congress passed to prohibit electoral maps that could dilute the power of minority voters. The ruling allowed Republican-led Southern States to demolish Democratic-held districts with majority-Black or majority-Latino voters ahead of November's midterm elections. After the Supreme Court gutted another part of the Voting Rights Act in 2013, Section 2 gained more importance as a barrier against racial bias in voting. Black and Latinos tend 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. 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 law codifying rights to birthright citizenship. The Supreme Court will likely rule by the end June.
TRUMP'S TARIFS The Supreme Court ruled on February 20, 2018 that Trump's tariffs were illegal because they were based on a law intended to be used in emergencies. 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 when he used this 1977 law. The court ruled that 'the International Emergency Economic Powers Act or IEEPA' did not give Trump the authority he claimed for tariffs. 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" 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.
PROTECTED STATUS OF IMMIGRANTS On June 25, the court cleared the way for Trump's administration to strip hundreds and thousands of Haitian, Syrian, and other immigrants of their humanitarian status which protects them against deportation. The court overturned federal judge's decisions that had stopped the Trump administration from terminating Temporary Protected Status (TPS) for more than 350,00 Haitians and 6,100 Syrians. State Department warns travelers against visiting either Haiti or Syria due to widespread crime, terrorism, and kidnapping. TPS is an designation that allows migrants from countries affected by war, natural catastrophe or other disasters to live and work in America while it's unsafe to return home.
The conservative justices of the court have indicated that they will uphold Trump's legality in firing a Federal Trade Commission official. This would give a boost to president power and also threaten a 90-year old legal precedent. On December 8, the court heard arguments in the Justice Department’s appeal against a lower court’s ruling that the Republican President exceeded his authority by dismissing Democratic FTC member Rebecca Slaughter before the term of her office was due to end. 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 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 rulings that transgender students were right to challenge the bans on female sports teams in both states. The judges ruled the laws violated the U.S. Constitution as well as a federal anti discrimination law. 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" The court rejected on March 31, 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 ban was an intrusion into free speech rights. The Colorado court rejected the argument that their law only protected speech, but regulated professional conduct. The court reversed a lower-court decision which had upheld the Colorado law in a case brought forth by Kaley Chiles who argued it violated First Amendment protections from government abridgment.
HAWAII GUNS LAW On June 25, the Justices struck down a Hawaii gun law that restricted the carrying of handguns in public places, such as most businesses, and without permission from the owner. This is the latest ruling to expand gun rights. The justices found that Hawaii's law violated the Second Amendment of the U.S. Constitution, which gives citizens a right to "keep & bear arms." The justices reversed a lower court decision that Hawaii’s Democratic-backed measure probably complied to the Second Amendment. Hawaii's law requires "express permission" from the property owner before a handgun can be brought onto a private property that is open to the general public.
Drug Users and Guns The court, on June 18, limited the application a U.S. Law that prohibits firearms possession by some drug users. It rejected a Trump administration position that threatened the rights of millions Americans who "use marijuana" and own firearms. The justices affirmed a lower-court decision dismissing an illegal gun possession case brought under the law in question against Ali Hemani. Hemani is an American and Pakistani dual citizen who lives in Texas. Hemani told authorities that he regularly used marijuana. The Supreme Court determined that the government failed to prove that Hemani's prosecution was in compliance with the Second Amendment rights to "keep and carry arms" guaranteed by the U.S. Constitution.
CAMPAIGN FUNDING The court heard arguments in December 9 on a Republican-led attempt to overturn federal spending limits by political parties coordinated with candidates. This case involved Vice President JDVance. The conservative justices seemed to be sympathetic towards the challenge. Meanwhile, the three liberals on the court appeared inclined to maintain the spending limits. The debate centers around whether federal limits on coordinated campaigns spending violate First Amendment protections against government abridgment. Vance and other Republican challengers have appealed the ruling of a lower court that upheld restrictions regarding the amount of money political parties can spend in 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, conservative justices expressed skepticism about a Mississippi law that was challenged by Republicans. The law allows for a five-day period of grace to count mail-in votes received after Election Day. This case 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 On June 25, the court handed Trump a win by confirming that the federal government has the authority to reject asylum seekers if officials determine that border crossings between Mexico and America are too overburdened for additional claims. The court overturned the lower court's ruling that the policy was illegal. After former president Joe Biden dropped the policy known as "metering", the Trump administration said that it might seek to revive it. The policy of metering allowed U.S. Immigration officials to refuse to process asylum claims indefinitely and stop asylum seekers at border.
WEEDKILLER CANER CLAIMS On June 25, the justices ruled against thousands of lawsuits filed in state courts that accused Bayer of failing warn users of the dangers of the active ingredient of the German company Roundup weedkiller. The Missouri jury had awarded $1.25million to John Durnell, who claimed he was diagnosed as having non-Hodgkin's lymphoma following years of exposure to Roundup. The court agreed that Bayer's argument that the U.S. pesticide law prohibits claims of failure to warn that are brought in state court cannot be heard.
Human Rights Abuses Abroad The Justices further limited the scope of a federal statute used to hold companies liable for abuses of human rights committed abroad on June 23, as they released a ruling that ended a lawsuit brought by members of Falun Gong accusing Cisco Systems facilitating religious persecutors in China. The justices overturned a lower court decision that gave new life to the 2011 lawsuit brought under the Alien Tort Statute of 1789. Cisco was accused of developing technology that enabled the Chinese government to monitor and persecute Falun-Gong practitioners. The Alien Tort Statute allows non-U.S. Citizens to seek damages from American courts in cases of violations of international laws.
SEC "DISGORGEMENT" POWER On June 4, the court rejected a challenge against the U.S. Securities and Exchange Commission’s broad authority to recover illicit profits through a financial remedy known as disgorgement. This strengthened one of the key powers of the Wall Street watchdog. The court upheld the decision of a lower-court that had supported a broad use of disgorgement powers by the SEC. In this case, the Trump administration defended the SEC. A defendant brought the challenge after a California court ordered him to pay back more than $3,000,000 in unjustified gains and interest in connection with a financial fraud case.
FCC FINES FOR WIRELESS CARRIERIES The Supreme Court ruled on June 4, defending the Federal Communications Commission system of levying fines and ruling against AT&T's and Verizon's challenge to the agency. Trump's administration defended FCC's system of assessing financial penalties known as forfeiture order. The carriers argued that FCC's internal proceedings deprived them their right to a trial by jury under the U.S. Constitution.
CUBA - COMPENSATION FOR PROPERTY seized by the former government of Fidel Castro's Cuba The Justices made it easier on June 23, for?U.S. Companies can now seek compensation from Cuba for property that was seized by the former government of Fidel Castro decades ago. ExxonMobil won its case against Cuban state-owned company Corporacion CIMEX. The court ruled that a defense known as foreign sovereign immunity which prohibits U.S. suits against foreign governments or their agents is not applicable in cases such as the one Exxon filed against CIMEX based on a 1996 U.S. act called the Helms-Burton Act. In another case the court ruled against four American cruise operators who contested a combined $440 million judgment in litigation brought on by a U.S. firm accusing them for using docks that they built in Cuba and later seized.
'GEOFENCE" WARRANTS On April 27, the court heard arguments in a Virginia case over whether or not law enforcement's use a "geofence warrant" to identify suspects using 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 for mobile devices near crime scenes around the time of the crime. 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 or not the facilities engages in deceptive practice. The court revived the federal lawsuit filed by First Choice Women’s Resource Centers to challenge a subpoena issued in 2023 by the state attorney general, which sought information about the organization's doctors and donors. The lawsuit had been dismissed by a lower court. First Choice's facilities are designed to discourage women from getting abortions.
RASTAFARIAN INMATE The Justices refused on June 23, to allow a Rastafarian inmate to sue Louisiana state prison officials after they shaved his head and held him down in violation of religious beliefs. This case was brought under federal law that protects incarcerated persons from religious discrimination. The justices upheld the lower court's dismissal of Damon Landor’s lawsuit, because the law at issue did not allow him to sue individual prison officials or guards for money damages. Landor's religious beliefs require him to grow his hair.
DEATH ROW INMATE A man convicted in Alabama of a murder committed in 1997 was spared the execution on May 21, after the court upheld a ruling that the inmate has intellectual disabilities and is therefore ineligible to receive the death sentence. Alabama officials appealed a lower court decision on how to determine Joseph Clifton Smith’s intellectual capacity. The justices rejected the appeal. This method involved weighing the multiple intelligence quotient (IQ) test scores along with expert testimony. In a 2002 Supreme Court decision, the court ruled that executing a person with intellectual disabilities violated the Eighth Amendment of the U.S. Constitution prohibiting cruel and unusual punishment.
JURY COMPOSITION On May 28, the justices sided with an inmate on death row in Mississippi, who claimed that prosecutors had discriminated against him by excluding Black potential jurors in a 2006 trial where he was found guilty for his role in the murder of grocery store owner. They found that the state courts of Mississippi had not evaluated Terry Pitchford’s claim that four Black jurors were unlawfully dismissed for a violation of a 1986 Supreme Court precedent called Batson v. Kentucky, which prohibits exclusions based upon race.
SENTENCE REDUCTIONS The court ruled that on May 28, judges could not order early release of prisoners based on the fact that they would receive shorter sentences following the 2018 criminal justice reform law. The court upheld lower-court decisions against two Pennsylvania men who were convicted of armed burglaries and sought compassionate release on the basis of the First Step Act that Congress passed many years after their sentences.
SECURITIES LITIGATION The court sided on June 11, with a group investment funds affiliated to BlackRock and other asset management firms in their attempt to defend against certain lawsuits filed by private plaintiffs under an important federal securities law. The court reversed an earlier ruling that allowed the hedge fund Saba Capital Master Fund, to sue the Investment Company Act of 1941 to invalidate fund bylaws that restricted the voting rights of activist shareholders. The Trump administration backed BlackRock and FS Credit Opportunities, as well as other funds in the case including Adams Diversified Equity Funds, Adams Natural Resources Funds and Royce Global Trust.
COX COPYRIGHT DISSENSION The court ruled that Cox Communications could not be held responsible for the piracy of songs by subscribers to its internet service. These labels included Sony Music, Warner Music Group Universal Music Group, and others. 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.
PHARMACEUTICAL SKINNY LABELS The court ruled that the generic version of Amarin Pharma Vascepa, a cardiovascular medication made by Hikma, did not violate Amarin Pharma patents. This decision could make generic drugmakers more resistant to patent suits involving "skinny label" claims. The justices reversed a decision by a lower court in favor of Amarin. Generic drugmakers argued that Amarin's victory in the case could have deterred them from producing and selling their cheaper drugs, and raised U.S. drug costs.
(source: Reuters)