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Turkey wins 3-2 in LA with a last-gasp goal
Turkey's first victory of the tournament came on Thursday when?Kaan yhan? scored a 3-2 win over a United States side that was second string at the?Los Angeles Stadium. The co-hosts had already won their group and qualified for the knockout rounds. Auston Trusty scored in the third-minute to the delight of a sold out crowd. Sebastian Berhalter's long-range shot, shortly after the halftime break, brought the U.S. level. Ayhan, the substitute, had the last laugh when he found the empty net at far post to score the winning goal. The U.S.?now turns their attention to Wednesday's knockout round match with?Bosnia and Herzegovina at?Santa Clara while?Turkey returns home, having at least salvaged a little pride. (Reporting and editing by Ken Ferris, Rory Carroll)
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MORNING BID EUROPE - Chipflation
Ankur Banerjee gives us a look at what the future holds for European and global markets Apple revealed that a bill must be paid by someone, just as investors were settling in to the idea that AI was still on the rise. Apple has said that it cannot absorb the rising memory and storage costs due to the AI data center boom. Micron's astronomical results this week highlighted the shift. Customers locked in $22 billion worth of Micron memory chips as a sign that markets are tightening and pricing power is increasing. What does it say when Apple, with its supply chain relationships envied by the entire industry, isn't immune to the memory price spike? What's next? Xbox to increase prices? Oh. Asian markets fell on Friday, as news that OpenAI may delay its public debut to next year also soured sentiment. South Korea's KOSPI - a bellwether for the AI industry - fell 8% in one day and 9% over the course of a week, its steepest fall since early March, when the Iran War first broke out. The oil market is still a major player, but it has slowed down. Oil tankers continue to leave the Strait of Hormuz despite a cargo ship being hit near Oman. Brent and WTI crude oil have lost almost all of the gains made by the hostilities that erupted in late February in the Middle East. But a gradual normalisation and a return to demand could tighten the markets next year. This easing was a relief but not enough. In May, U.S. inflation surpassed 4% for the first time in 3 years. This kept an interest rate hike from the Federal Reserve on the table. The U.S. Dollar is now in a strong position, while the Japanese yen struggles to reach a low of 40 years, amid growing intervention fears. The dollar index will rise by?2.6% this month. This is its biggest monthly gain in over a year. We'll end our report with the early summer heatwave which has ravaged?Western Europe. This predicament is leading to a boom in air conditioner sales from Asian manufacturers. Health risks of extreme heat are explained as temperatures in Britain, Switzerland and other countries reach record highs. The following are the key developments that may influence Friday's markets: Economic events: French unemployment in May (by Ankur Banerjee Editing done by Shri Navaranam)
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Oil prices down 2% despite resumption in Hormuz shippings, even after vessel hits near Oman
Crude prices fell?2% Friday, and are headed for steep weekly losses amid eased supply concerns. More oil tankers have left the Strait of Hormuz as more stranded vessels leave. Brent crude futures dropped $1.47 or 1.95% to $73.79 per barrel at 0421 GMT. U.S. West Texas Intermediate was down $1.44 or 2% to $70.48 per barrel. Shipping data from LSEG revealed that Saudi Aramco, the world's largest refiner, resumed oil loading at its Ras-Tanura terminal in?Gulf on Friday after a nearly four-month halt. The data revealed that two Very Large Crude Carrier were loading crude at the terminal, while another was waiting nearby. Each VLCC can load 2 million barrels. According to June Goh of Sparta Commodities, senior oil analyst, "there is a general selling off as the market reacts?to the increased flows leaving the Strait of Hormuz. China has not yet picked up on crude demand." Both benchmark contracts rose more than 2% Thursday, after an unidentified projectile hit a cargo ship near Oman. This prompted the U.N. shipping agency to suspend their voluntary evacuation scheme. Two U.S. officials said that Iran shot at the cargo ship when it tried to pass through strait. Iranian authorities have said that the safety of vessels traveling outside of designated Hormuz routes cannot be guaranteed. Brent crude and WTI oil are both expected to lose around 8% in the coming week. The data showed that the crude oil shipments through the Strait of Hormuz reached their highest level this week since the U.S./Israeli conflict began with Iran in February. A ceasefire agreement reopened the waterway and concerns over how long it would remain open also increased?trade. Overall, however, the traffic is still a fraction of what it was before the conflict began on February 28, when 125 ships passed through the strait every day. "A large part of the increase is due to previously stranded ships leaving the Persian Gulf. The vessel flows into the Gulf are much lower. This suggests that after stranded ships have been removed, we may see a reduction in the flow of vessels," ING analysts wrote a note. The earthquakes that occurred in Venezuela on Thursday have also caused supply concerns. Workers have conducted preliminary assessments of Venezuela's oil, gas, and refining infrastructure. They found that the damage was limited, since the country's largest output regions, refineries and pipelines, and terminals were 'far away' from the worst-hit areas. Sources said that despite the lack of electricity, it is doubtful whether oil production can be maintained at its pre-quake level, which was close to 1.2m barrels a day. Reporting by Mohi Nairayan in New Delhi; Sam Li and Lewis Jackson, in Beijing; editing by Kevin Buckland
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The dollar's strength and macro-economic headwinds are expected to cause a weekly decline in copper.
The copper price is expected to fall by at least 1% on Friday due to a stronger dollar and continuing macroeconomic concerns. However, dip buying has limited the loss. Benchmark three-month?copper on the London Metal Exchange fell by?1% at $13,137 per metric ton?by 3:00 GMT. The Shanghai Futures Exchange's most traded copper contract remained largely unchanged, with a 0.1% increase at 101,360 Yuan ($14900.84) per ton. The copper price was expected to drop by over 3% in both markets at the end of this week. The U.S. dollar gained 0.09%, partially reversing Thursday's ?decline and making greenback-denominated commodities more expensive for buyers using other currencies. Other economic headwinds from the Middle East war helped push the key U.S. Inflation indicator to its highest level in three year in May. Industrial minerals that are dependent on growth have been impacted by inflation and expectations of higher interest rates. In a note, Chinese broker, Jinrui Futures (a subsidiary of Jiangxi Copper), wrote that lower?Shanghai Copper prices had brought back some buying interest to the market on Thursday. China's Yangshan Copper Premium The, which measures the buying appetite of the largest consumer in the world, reached its highest level in three weeks. Copper stocks on LME Stocks on the CME continued to decline. increased. Material has been withdrawn from U.S. storage facilities ahead of President Trump's recommendation next week to introduce tariffs on imports of copper. Aluminum largely brushed aside jitters following this week's tentative Middle East Peace after a cargo ship said it was?hit by a projectile on the Strait of Hormuz. It fell 0.32% on the LME and 0.59% on the SHFE. The LME has seen the price of the light metal?fall 6% since the beginning of the week, as the Middle East premium declined. Zinc fell by 1.31% among?other LME Metals. Lead lost 0.44%. Nickel dropped by 1.27%. Tin decreased by 2.52%. Nickel fell 1.91%, tin dropped 2.02%, and zinc was down 1.17% on SHFE. Lead also remained unchanged, only up 0.03%.
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Iron ore to suffer seventh-week loss due to soaring inventory and falling steel demand
Iron ore fell on Friday, and was headed for a seventh consecutive weekly loss. This was due to a swollen portside inventory, faltering steel demand in China's top consumer, as well as falling global freight rates. The most traded iron ore contract at China's Dalian Commodity Exchange has fallen 1.5%, to 733.5 Yuan ($107.83), a metric tonne, and is down 1.7% for the week. The benchmark July Iron Ore at the?Singapore Exchange is 0.5% lower, $96.95 per ton. This represents a 2.3% drop so far this week. Stocks of iron ore piled up in ports across China due to a rise in supply by major suppliers. Prices of this key steel-making ingredient are under pressure. According to Mysteel, the Chinese portside iron ore inventory rose 1.3% from the previous week. China's steel demand was also affected by the high temperatures in summer, which hampered outdoor activities in certain regions. Also, trade barriers around the world are increasing and limiting exports. Analysts at Everbright Futures wrote in a report that "the rapid decline in downstream steel consumption" will determine ore prices in the medium-term. The United States and Iran have reached a preliminary agreement to end their more than three-month-long?war, which has removed a layer of support for iron ore. Coke and other steelmaking materials, such as coking coal, fell by 0.88% and 1.13 %, respectively. The Shanghai Futures Exchange steel benchmarks have mostly fallen. Hot-rolled coils fell 0.51% and wire rod dropped 0.15%.
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Gold set for fourth-week loss due to Fed's hawkish bets
Friday saw gold?fall for a fourth consecutive weekly?fall? as a strong dollar and expectations that the U.S. would raise rates faster to combat inflation kept the bullion price below $4,000 an ounce. By 0247 GMT, spot gold had fallen 0.9% to $3.991.49 an ounce. U.S. Gold Futures for August Delivery fell 1% to $4.007.30. On Wednesday, the bullion market was on course for a 4% loss for the week after it fell below the $4,000 mark for the first time since 2025. The rapid repricing by the hawkish Fed led to a strong bullish momentum for the U.S. Dollar, which ultimately led to the significant decline in gold prices, said Kelvin Wong, senior market analyst at OANDA. The U.S. Dollar Index held near its highest level since May 2025, and was on track for a second consecutive weekly gain. This made gold more expensive for those who hold other currencies. Wong believes that the gold price has been in a multi-month decline since late January's record high. He sees this correction continuing in the future towards $3,400. Gold prices fell by about 29% from their record high of $5,594.82 in January 29 as inflation fueled by the U.S. - Iran war pushed up rate-hike betting. According to data released on Thursday, U.S. inflation increased in May and broke above 4.0%, for the first time since?three years. This was predicted by economists who were surveyed. Gold is often viewed as an inflation hedge, but it loses its appeal in high interest rate environments as a non yielding asset. According to the CME FedWatch tool, traders?expect a Fed rate increase in September and have priced it at about 64%. Silver spot fell 3.2% per ounce to $56.01, platinum dropped 2.4% to 1,563.20 and palladium was down 1.6% at $1,165.93. All metals were heading for a loss. (Reporting from Bengaluru by Pablo Sinha; Additional reporting by Swati verma; Editing and proofreading by Subhranshu Sahu).
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Oil prices fall amid the resumption in shipments through the strait, despite a vessel collision near Oman
The oil prices dropped on Friday morning, and are headed for steep losses this week amid easing supply concerns. More oil tankers have left the Strait of Hormuz as stranded vessels leave. Brent crude futures dropped 19 cents or 0.25% to $75.07 per barrel at 0055 GMT. U.S. West Texas Intermediate was down 13 cents or 0.18% to $71.79 per barrel. The benchmark contracts both rose more than 2% after an unknown projectile hit a cargo ship near Oman. This prompted the U.N. shipping agency to suspend their voluntary evacuation scheme. Two U.S. officials said that Iran shot at the cargo ship when it was trying to pass through the strait. Iranian authorities have said that the safety of vessels traveling outside designated Hormuz route is not guaranteed. The geopolitical risks are creeping into the prices again. Markets will be closely watching to see if the tanker traffic returns or if the latest obstacles force producers to halt planned production increases. Brent crude and WTI oil are both expected to lose close to 7% of their value this week. After a ceasefire agreement reopened the Strait of Hormuz, data showed that crude shipments rose to their highest level since the U.S./Israeli conflict began with Iran in February. Concerns about the length of time the Strait would remain open also helped boost trade. The overall traffic is still a fraction of the daily average of 125 vessels that passed through the Strait before the conflict on February 28. The earthquakes that occurred in Venezuela on Thursday have also caused supply concerns. Workers have so far reported that the damage to Venezuela's vast oil, gas, and refining infrastructure is minimal, since most of the largest production regions, refineries, pipelines, and terminals, are located far away from the worst-hit areas. Sources said that a lack of power is still causing concern about whether the oil production can be maintained at its pre-earthquake levels, which were close to 1.2m barrels per day. (Reporting and editing by Lewis Jackson and Sam Li)
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Don't confuse turbulence and decline. McGeever: This market is on its feet
The markets are awash with red flags that warn of another turbulent second half in 2026. Don't mistake turbulence for a sign of a correction. Late bull markets are often characterized by wild volatility, eye-watering price fluctuations and a wide range of asset classes and benchmark indices. This is when exuberance becomes irrational, to paraphrase late Federal Reserve chair?Alan Greenspan. These dynamics are playing out in varying degrees on many markets. Silver has fallen 55% since its January peak and Bitcoin's value has dropped by more than half since November. The tech market has been a volatile ride -- the SOX Philadelphia semiconductor index posted 10% daily drops, but was still up 90% from March. Micron Technology tripled to a $1 Trillion market cap in just three months. South Korean stocks are a perfect example of the turmoil -- and resilience -- that marked the first half of 2026. The AI-pumped KOSPI had a bullish market, rising by 50% in the first 2 months of the year. But it plunged into a bearish market three days later after the U.S. and Israeli attack on Iran. It's no wonder that realized volatility has risen to new heights. Since that low in march, the KOSPI index has almost doubled despite four corrections of double-digits. This type of frenzied behaviour is usually preceded by a steeper correction or bear market. These wild price swings, coupled with sky-high prices and a growing IPO mania are putting investors in high alert. Even if the diagnosis of "irrational markets" is correct, and they are heading into this territory, fears about a sharp market correction may be premature. Room for EXUBERANCE Wall Street certainly seems to believe that. JPMorgan strategists and Barclays analysts raised their forecasts for the S&P 500 at the end of 2026 to 7,800, which implies a further 5% increase. Meanwhile, BCA Research analysts increased their year-end outlook to 8,100 points, almost 10% higher than current levels. BCA's team stated on Tuesday that "our constructive equity view is based on earnings and not valuation." The economy has moved from a slowdown to an expansion. Investments continue to grow, and earnings are stronger than expected. This is a compelling argument until hard evidence to the contrary emerges. Rarely, bull markets can fall under their own weight. A sharp reversal is more likely to be triggered by a factor, such as an unexpected financial shock, a sudden rise in interest rates or a policy mistake. We haven't seen one yet. In the first half of this year, we have seen a war, an unprecedented global energy crunch, a shift to hawkish Fed communication, and a growing concern over hyperscalers’ capex expenditure and debt issuance. Investors have shrugged off all of it. JPMorgan’s Dubravko Lakos–Bujas and his team understand that even if the path of U.S. equity prices is up, it may be “non-linear” and there will be various obstacles to overcome. Recent earnings have 'raise the bar' for future earnings. The IPOs of OpenAI, Anthropic, and other companies are expected to increase the equity supply. The Fed may soon stop talking about tightening its monetary policy and start actually raising rates. Rising borrowing costs are one of the main causes of "death" for bull markets. There's no doubt that the U.S. Central Bank's recent hawkish pivot is behind the recent weakness in certain risky assets. Investors will continue to see downdrafts, if earnings remain stable, AI continues its craze and the global economic system keeps on chugging, as a buying opportunity. Greenspan's famous "irrational" exuberance comment was made in December 1996 - more than three years before the peak of the dotcom bubble in March 2000. The current rally may have a long way to go. 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.
The top cases in the US Supreme Court docket
During its current term, the U.S. Supreme Court weighs a number of important cases involving such issues as presidential powers and tariffs, gun rights, race, transgender sportspeople, campaign finance laws, voting rights, LGBT “conversion therapy”, religious rights, capital punishment, and more. 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.
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 challenge played out. Congress created the Fed by passing a law, the Federal Reserve Act, that contained provisions 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 on monetary policy, as Trump pressures the Fed to reduce interest rates. The ruling is expected to be made by the end June.
TRUMP TARIFFS During arguments on November 5, the justices raised questions about the legality and impact of Trump’s tariffs. This case has implications for the global economic system, which?marks an important test of Trump’s powers. The conservative and liberal justices questioned the lawyer for Trump's administration on whether or not a 1977 law intended to be used during national emergencies had given Trump the authority he claimed to impose the tariffs. They also questioned whether the president infringed upon the powers of Congress. Some conservative justices, however, also emphasized the inherent authority that presidents have when dealing with foreign nations. This suggests the court may be divided on the final outcome. Lower courts ruled Trump had overreached by invoking the 1977 International Emergency Economic Powers Act in order to impose tariffs. This was challenged by 12 U.S. States and various businesses. The ruling is expected to be made by the end June.
Birthright Citizenship The court will hear arguments about the legality of Trump’s directive on April 1, which restricts birthright citizenship. This is a controversial part of Trump’s efforts to curb immigration, and would change the way a 19th-century constitutional provision has been understood for many years. The lower court ruled against Trump's executive orders 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 permanent resident (also known as a "green-card" holder). The court found that Trump's directive violated both the 14th Amendment of the U.S. Constitution and federal law codifying the birthright citizenship rights.
LOUISIANA ELECTORAL DISTRICTS The conservative justices of the court signaled on October 15, their willingness to undermine another key section in the Voting Right Act, the 1965 landmark law enacted to prevent racial bias in voting. This was during arguments in a case involving Louisiana's electoral districts. The case centers on Section 2 of the Voting Rights Act, which prohibits voting maps that dilute the power of minorities without proof of racism. The lower court ruled 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 Constitutional promise of equal protection. The ruling is expected to be made by the end June.
FEDERAL TRADE 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’s appeal of the lower court’s decision that the Republican President exceeded his authority by dismissing Democratic FTC member Rebecca Slaughter before the term she was due to finish. 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 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 student who challenged the bans 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 October 7, the conservatives of the court appeared to be ready to support a challenge to a Colorado statute that prohibits psychotherapists from performing "conversion therapy", which aims to change minors' sexual orientation or gender identity. Christian counselors challenged the Colorado law under First Amendment protections from government abridgment. Colorado claimed it was regulating professional conduct and not speech and had the legal authority forbidding a healthcare practice that it deemed unsafe and ineffective. A lower court upheld this law. The ruling is expected to be made by the end June.
HAWAII GUNS LAW The conservative Justices 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 guns again. On January 20, the court heard arguments in an appeal filed by opponents of the law, backed by the Trump administration. The challengers were appealing a ruling that Hawaii’s Democratic-backed measure likely conforms to the U.S. Constitution’s Second Amendment right. Hawaii's law demands that a property owner "expressly authorize" the bringing of a handgun on to private property. Four other states in the United States have laws similar to Hawaii's. The ruling is expected to be made by the end June.
Drug Users and Guns The Supreme Court will hear arguments in a case on March 2, involving a dual American/Pakistani national in Texas, to defend the Trump Administration's bid for a federal gun law that prohibits users of illegal drugs. Hunter Biden, son of former president Joe Biden, was charged under this law in 2023. The Justice Department appealed a lower court ruling which found that the gun restrictions were in violation of the Second Amendment rights to "keep and carry arms" guaranteed by the U.S. Constitution. The Gun Control Act, which was passed in 1968, prohibited gun ownership by drug users.
CAMPAIGN-FINANCE On December 9, the court heard arguments in a Republican led bid to overturn federal spending limits by political parties coordinated with candidates. The case involved Vice President JDVance. The conservative justices seemed to be sympathetic towards the challenge. However, the three liberal members of the court appeared inclined to maintain the spending limits. The debate centers around whether federal limits on campaign spending coordinated with candidates' input violate First Amendment protections against government abridgment. Vance and Republican challengers have appealed the ruling of a lower court that ruled on restrictions on how much money can be spent on campaigns by parties with input from the candidates they support. This type of spending is called coordinated party expenses. The ruling is expected to be made by the end June.
MAIL-IN VOTES The court will hear arguments March 23 when Mississippi defends its state law that allows mail-in votes received after Election Day be counted. This case could lead to stricter voting laws in the United States. A lower court declared illegal the state law allowing mail-in votes sent by certain voters that were received up to 5 business days after an election to be counted.
U.S. ASYLUM - PROCESSING - The court will hear arguments from the Trump administration on March 24, as it defends its authority to limit asylum processing at the ports of entry along U.S. - Mexico border. The Trump administration appealed the lower court's ruling that the "metering policy" was illegal. This allowed U.S. Immigration officials to stop asylum seekers and refuse to process their claims at the border. Former President Joe Biden rescinded the policy, but Trump’s administration indicated that it may consider resuming.
Human Rights Abuses Abroad The court heard an appeal from Cisco Systems, in which the company and Trump administration asked the justices to limit?the reach of a federal statute that was used to hold companies liable for abuses 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 surveillance and persecution of 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. Arguments in the case have not been scheduled.
CRISIS PREGNANCY COUNTER The court seems to be inclined to side with an operator of Christian faith based anti-abortion “crisis pregnancy center” in New Jersey, in a dispute arising from the state attorney's investigation as whether these facilities engages in deceptive practice. During the December 2 arguments, a large majority of the Justices appeared to be inclined to revive a lawsuit filed by First Choice Women's Resource Centers against Democratic Attorney General Matthew Platkin's subpoena 2023 seeking information about the organization's doctors and donors. First Choice's facilities are designed to discourage women from getting abortions. The decision is expected to be made by the end June.
RASTAFARIAN INMATE 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 in November 10 under a federal statute protecting incarcerated persons from religious discrimination. Plaintiff Damon Landor's religion requires that he let his hair grow. He appealed the decision of a lower court to dismiss his lawsuit, because they found that the statute in question did not allow for him to sue officials individually for monetary damages. The ruling is expected to be made by the end of 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 U.S. Constitution prohibiting cruel and unusual punishment. The Supreme Court is expected to rule by the end June.
WEEDKILLER CANCER LAWSUITS
The court will consider Bayer's request to limit lawsuits claiming the German biotechnology and pharmaceutical company's Roundup weedkiller is cancerous. This could 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. Arguments in the case have not been scheduled.
FCC FINES FOR WIRELESS CARRIER The Justices will hear the dispute over fines levied by the Federal Communications Commission against major U.S. carriers who shared customer location data with other companies without their consent. This is the latest case that has reached the Supreme Court challenging the authority of an American regulatory agency. The case concerns the FCC's efforts to impose tens-of-millions-of-dollars in fines on carriers like Verizon Communications and AT&T before they had their day in the court. Arguments in the case have not been scheduled.
COX COPYRIGHT DISSERT The court heard arguments in December in an attempt by Cox Communications, a provider of internet services, to avoid financial responsibility in a major copyright lawsuit brought by record labels who accused Cox of allowing its customers to piracy thousands of songs. Justices were skeptical about Cox's claim that mere knowledge of piracy by users could not be enough to hold it responsible for copyright violations. A lower court ordered that a new trial be held to determine the amount of money Cox owes Sony Music Group, Warner Music Group Universal Music Group, and other labels in relation to contributory copyright violations. Cox, which is the largest division of privately-owned Cox Enterprises said that the retrial may result in a verdict of up to $1.5 billion against it. The ruling is expected to be made by the end June.
(source: Reuters)