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The most violent ceasefire in history.
Mike Dolan: What's important in U.S. markets and the global economy today? By Mike Dolan. Editor-at-Large for Finance & Markets. With the World Cup hoopla this weekend, many may have missed the fact that the Iran conflict has once again descended into full-blown warfare. As Tehran retaliated on U.S. bases and gulf shipping, Iranian attacks now have killed at least three U.S. troops. The traffic through the Strait of Hormuz is now a trickle. Brent crude has also risen above $90 a barrel for the first since early June. All that and more will be discussed below. Listen to the Morning Bid podcast for the latest update on the energy crisis, the major moves in the chip stocks, and the changes both at?10 Downing Street and?11 Downing Street. Subscribe to the Morning Bid daily podcast and hear journalists discussing the latest news in finance and markets seven days a weeks. The most violent ceasefire It's not surprising that the June inflation report was received so poorly last week, given the recent increase in violence in the Middle East. The futures markets believes that there is a 2/3 chance the Fed will raise interest rates in September. Another big cloud is forming on the horizon due to shaky stocks. The South Korean market was closed on Friday but chip sales resumed today with the KOSPI dropping another 3%. Tokyo was closed on Friday, so the stock markets were quieter in the morning. The U.S. Futures are slightly higher before the bell. This follows a tough few weeks for tech stocks. The high-flying U.S. chips stocks fell 10% last week, and 20% since their record highs of June. This suggests that the market is settling down from its AI frenzy. Now, it'll turn its attention to the hyperscalers that will report their earnings this week and in the coming weeks. Alphabet will report on Wednesday. Intel, Tesla, and other companies are also reporting this week. China's Moonshot AI programme, which is the latest AI innovation from the country, offers a glimpse into how the second-largest economy in the world keeps up with the rapid technological transformation. On Monday, Andy Burnham will become the new UK Prime Minister. The market is likely to be interested in the cabinet picks he makes and his choice of finance ministry, with Shabana Mahmood being a conservative candidate for Home Secretary. Chart of the Day Crude oil prices briefly surged back above $90 a barrel on Monday, for the first since early June. The Iran war was raging after the ninth day in a row that the U.S. attacked Iran. Prices dropped below this level after Iran's Foreign Ministry said that negotiations with the U.S. can be pursued on the basis of national interests. Gulf shipping through the Strait of Hormuz is now at a crawl. Fuel prices are rising across the board. Average retail U.S. gasoline prices are now above $4 per gallon. Watch today's events Canada's June Inflation Report and the U.S. Leading Economic Index Andy Burnham, leader of the Labour Party, officially takes over as Prime Minister in the UK * ?U.S. Earnings reports from Domino's Pizza Steel Dynamics, and WR Berkley Want to receive the Morning Bid every morning in your email? Subscribe to the newsletter by clicking here. Follow us on LinkedIn, X and ROI. The opinions expressed here are the author's. These opinions do not represent those of News. News is committed, as part of the Trust Principles to independence, integrity and the absence bias. (Written by Mike Dolan).
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Why oil prices aren't crazy after 5 months of US/Iran war
Analysts predicted that the price of crude could rise to $150 per barrel, or even $200. This would result in the fifth of the global oil supply, which transits through the Strait of Hormuz, being cut off from the world market. Brent crude futures reached a peak of around $126, comfortably below the 2008 all-time record of $147, and averaged only $101 per barrel between February 28th and June 11, when U.S. president Donald Trump called off the strikes against Iran. They then briefly retreated to $70 levels before the war in early July. Here are some reasons why oil prices haven't gone insane. Yet. 1. CHINESE SURPRISE China, as the world's biggest oil importer, surprised everyone by reducing crude imports to the lowest level in almost a decade. Fuel exports have been curtailed, the population has started to use electric taxis in place of private cars, and the petrochemical industry has also reduced its volumes. 2. U.S. US. The United States also released crude from its Strategic Petroleum Reserve in March as part of an unprecedented 400 million barrel release coordinated by the International?Agency, which helped cushion supply disruptions. 3. TRUMP BURNS BULLS Donald Trump, the U.S. president, has repeatedly misled oil bulls with his statements about peace deals and the resumption of oil flows through the Strait of Hormuz. The oil market has seen a drop in liquidity as traders are reluctant to place large bets on the upside due to the possibility of a sudden market turn. Ilia Bouchouev, of the Oxford Institute for Energy Studies, said: "Everyone is bullish right now but nobody is going to last." According to data released by the ICE on Friday, after reducing their bullish positions in Brent futures in early July to their lowest level this year, funds increased their purchases in the following week. At $14.8 billion, based on prices of Monday, the position is still more than 50% lower than late March's six year peak. Ole Hansen, head of commodity strategy at Saxo Bank, stated that headline fatigue is reducing the impact on prices from new announcements. 4. HORMUZ FLOWS REBOUND Saudi Arabia - the largest Gulf oil exporter - increased its shipments to the Red Sea Yanbu Port, which helped offset the loss of barrels through the Strait of Hormuz. Hormuz shipping briefly resumed in June to ease concerns over crude availability, but then dropped in July when the fighting resumed. 5. Amplified Supply of Prompt Physical Cargoes The traders say that there is enough oil to meet demand, and the price response will be limited by the latest escalation of the conflict. Crude oil differentials in Europe such as North Sea Forties The Brent benchmark for global dates has fallen from its record high in April to a discount. Adi Imsirovic, a veteran trader, said that there is currently a large amount of crude oil available. "It might not last!"
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EU charges of cartel against construction chemicals companies and trade associations
The EU's antitrust regulators charged on Monday a group of construction chemical companies and trade associations with participating in a cartel from 2021 to 2022. They could face heavy fines. The European Commission made the accusations via a "statement of oppositions" following dawn raids in several EU member countries against unnamed firms in?2023. The Commission, acting as the EU's competition enforcer, stated that the companies and associations had colluded to raise prices in the supply chain of chemicals for cement, mortar and concrete between 2021-2022, affecting construction costs. Cemex was charged along with Chryso and Mapei. Other companies included Master Builders Solutions (MC Bauchemie), Sika, TAM and SYNAD, a trade association. Allegations of anti-competitive behavior in Germany concern Cemex (Ha-be), Master Builders Solutions (MC Bauchemie), Liesen (Remei), Sika, and the 'trade association Deutsch Bauchemie. The cartel charges relating to the Spanish market involved Chryso Mapei Master?Builders Solutions MC Bauchemie?Sika trade association ANFAH If found guilty, companies and trade associations could face a?fine of up to 10% of their global annual turnover if they are found guilty of violating EU cartel laws. (Reporting and editing by Philip Blenkinsop; Foo Yunchee)
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Copper prices are boosted by China imports, which have reached a nine-month high.
Prices of copper?rose on Monday due to a surge in buying sparked by a decline in inventories, and signs of strong demand from China - the world's largest consumer. Benchmark copper on the London Metal Exchange was?up?0.5% to $13,593.5 per metric ton as of 0937 GMT. Import data showed that China's refined copper imports reached a nine-month peak in June, according to traders. The metal is used in construction and power industries. The decline in domestic supply caused by smelter repairs is one of the reasons for the higher imports. The Yangshan Copper Premium is a gauge of China’s appetite for metal imports. Data from the consultancy Shanghai Metals Market revealed that on July 17, reached a record high of $100 per ton. The premium has increased 133% in the past year. The Shanghai Futures Exchange monitors 79,909 tonnes of copper in warehouses. This is the lowest level since August of last year and down more than 80% from the middle of March. . Copper inventories at LME-approved storage facilities have fallen by 24% since the end of May 295,275 tonnes. At 56%, cancelled warrants or metal marked for delivery indicate that another 166.025 tons are due to leave the LME. The United States has received a large amount of copper that has left the LME since February 2016, when U.S. president Donald Trump first proposed import tariffs for the metal. Goldman Sachs analysts said that they expect the ex-U.S. Copper?market to remain tight in the near future, as the U.S. continued import pressure on tariff expectations will continue to pull units away from a?thin market. Low Chinese inventories, limited scrap substitution, and low Chinese inventory are cushioning the downside. Concerns about the availability of copper on the 'LME has created a?premium or backwardation for most contracts nearer to maturity compared with longer-dated forwards. Other metals saw aluminium rise 0.2% to $3.158 per ton, while zinc was up 0.5% at $3.542, lead fell 0.3% to $1.876, tin rose 0.3% to $53,375, and nickel advanced by 0.4% to $17.030. (Reporting and editing by Harikrishnan Nair; reporting by Pratima Dasai)
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Gold prices steady as investors assess US-Iran risk and Fed signals
The gold price was'steady' on Monday as traders weighed the implications of developments in the U.S. Iran conflict for oil prices and U.S. Federal Reserve officials hinted that interest rate increases may be necessary to curb inflationary pressure. As of 0911 GMT, spot gold was unchanged at $4,018.75 an ounce. U.S. gold futures for August delivered gained 0.1%, to $4023.20. UBS analyst Giovanni Staunovo stated that "gold remains negatively correlated with oil prices" and that market participants closely track developments in the Middle East. U.S. Forces hit?Iran on a ninth day in a row as concern grew about shipping through the Strait of Hormuz, after Iran claimed that two oil tankers exploded and were immobilised. After reaching a?over a month high earlier in session, oil prices retreated after the spokesperson for Iran's Foreign Ministry said that negotiations with U.S. can be pursued on the basis of national interests. Increased oil prices fuel inflation fears, and increase bets on higher interest rates for longer. Gold is often seen as a hedge against inflation, but high interest rates can make it less attractive. Beth Hammack, Cleveland Fed President, added her voice to the growing chorus of policymakers who argue that 'interest rates might need to be raised to beat back persistent inflation'. This will set up a heated debate at the Fed meeting next week and could lead to disagreements during Chairman Kevin Warsh’s second meeting. CME FedWatch shows that traders now expect an 80% increase in interest rates for December, up from 73% last time. Staunovo stated that a weaker US dollar would support gold prices over the next six to twelve months. The yellow metal is expected to rise above $5,000/oz. Palladium was up 1.3% at $1,264.62, while platinum rose 0.2% to $1,595.08. (Reporting and editing by Mrigank Dahniwala in Bengaluru)
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India's UltraTech Cement profits rise in the first quarter due to strong volumes
UltraTech 'Cement, India’s largest cement manufacturer?by capacity?, announced a nearly 17% increase in the first-quarter profit?on Monday and?announced plans to add capacity in fiscal 2028. UltraTech's strong results indicate that it used its size and position in the market to absorb higher fuel prices linked to the Middle East conflict more effectively than smaller competitors. Petcoke and coal prices, which are the main fuels used in cement kilns remained high during the quarter. Cement makers increased prices by about 2.5% to 3% but the increase was partly offset by rising costs. The net profit for the quarter ended 30 June rose from 22.26 billion rupees to 25.99 billion. Sales volumes increased?12.2%, or?41.31 millions metric tons. Revenues from operations grew by about 16%. The company expects to add a cement production capacity of?29.8 million tonnes annually (MTPA) during fiscal 2028 compared to its planned addition?15.9 MTPA for 2027. After the results, shares of the company rose as much as 2,3% to 12,001 Rupees. (Reporting by Urvi Dugar in Bengaluru; Editing by Subhranshu Sahu)
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China's Securities Regulator vows to maintain market stability after market turmoil
China's securities regulator chaired an investor meeting on Monday, and promised to "make all efforts" to maintain stable market operations. According to a readout, the China Securities Regulatory Commission (CSRC) will take steps to prevent risk on the capital markets, increase supervision, and resolutely protect an open, fair, and just market. Commission Chairman Wu Qing said this at the Beijing meeting. The meeting follows a stock market crash that has wiped out 10 trillion Yuan ($1.48 trillion), or?China's market capitalisation, in the last two weeks. The markets rebounded Monday. The Shanghai Composite Index and the large-cap CSI300 Index both gained 1.5% and 0.85%, respectively. However, the tech-focused STAR Composite Index fell 2.28%. The readout stated that Wu pledged to?improve the transparency of listed businesses and investor protection, so that investors could better share in the fruits of economic development and capital market growth. According to the report, investors at the meeting proposed stronger counter-cyclical measures and more effective ways of directing long-term capital towards the?market. They also suggested harsher penalties for crimes involving securities. CRRC, SDIC Power and other state-owned firms announced proposals on Monday, such as increasing shareholder stakes, repurchasing shares and paying dividends to investors, in an effort to boost investor confidence. Bosera Fund Manager said that on Monday it would invest 50,000,000 yuan into?its own equity fund, citing its confidence in the long-term health and stability of the Chinese market. Two of China's state-backed investment firms said on Sunday that they have invested?some 60 billion Yuan in stocks and promised to increase their purchases.
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China's refined oil product exports in June are up from May despite export restrictions
China's refined oil product exports in June improved over May but fell from the same period in last year, amid export restrictions that began in mid-March in order to protect domestic supply after the Iran War. China is Asia's biggest fuel exporter, and the increased export allowance will ease tight supplies because regional refiners have curtailed production due to war-related oil shortages. China's refined product exports to Hong Kong and Macau, including gasoline and diesel, totaled 643,712 tons. This is a slight increase of 4% from last June. Exports of refined oil products from China to other regions than Hong Kong and Macau were 804,968 tonnes in June. This is down 64% from the same period last year but up 11% compared to May. Exports of gasoline to Asia totaled 76.753 tons. This excludes volume for Hong Kong, Macau and other Asian countries. Cambodia and Sri Lanka were the biggest recipients, each receiving 30,267 tons. The exports to Myanmar were 9,512 tonnes. China exported a total of 245,904 tonnes of diesel, mainly to Asian countries. Bangladesh was the largest export destination, accounting for 118,408 tonnes. In June, China exported 55.846 tons (mostly to Belgium and The Netherlands) of biodiesel. Biodiesel is primarily made from used cooking oils. It's unclear whether Beijing's export restrictions cover it. The total jet fuel exports, including Hong Kong and Macau, were 426,465 tons, down by 15% compared to May, and 64% compared to a year earlier. Vietnam was the largest export destination with 110,340 tonnes.
The top cases in the US Supreme Court docket
During its current term, the U.S. Supreme Court will decide a number of important cases involving voting rights, presidential power, tariffs and birthright citizenship. Other issues include 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 in several cases that challenge President Donald Trump's policy.
VOTING RIGHTS ACT On April 29, the court gutted a crucial provision of the Voting Right Act, making it harder for minorities who want 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 the Voting Rights Act which Congress passed to prevent electoral maps from diluting minority votes. The ruling opened the door for 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 became a more important bulwark to combat 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 birthright citizenship within the United States. Justices asked questions to the administration's lawyer about Trump's executive orders and their practical implications. 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 "birthright citizenship" rights. The Supreme Court will likely rule by June's end.
TRUMP'S TARIFS The Supreme Court ruled on February 20, 2018 that Trump's tariffs were illegal because they were imposed under 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 decision, confirmed that Trump had exceeded his legal authority by using this 1977 law. The court ruled that Trump's claim to have the authority to impose tariffs was not supported by the law in question, the International Emergency Economic Powers Act (IEEPA). Congress has the power to impose taxes and tariffs, not the President, according to the U.S. Constitution. Tariffs are at the heart of a global trade conflict that Trump started after he entered his second term in office. This war has alienated trading partner, affected financial markets, and created global economic uncertainty.
TRUMP'S FIRE OF FED OFFICIAL Justices 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.
IMMIGRANTS WITH PROTECTED STATUS The Justices heard arguments April 29 on the Trump administration's move to strip humanitarian benefits from hundreds of thousands Haitian and Syrian migrants, as part of Trump's signature immigration crackdown. 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 challengers' claim that the administration didn't follow 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. The court heard arguments in December regarding the Justice Department’s appeal against a lower-court decision that said the Republican president had exceeded his authority by dismissing Democratic FTC member Rebecca Slaughter before the term of her appointment 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 sports teams, amid an escalating nationwide effort to restrict transgender rights. On January 13, the court heard arguments in appeals filed by Idaho and West Virginia regarding decisions of lower courts siding transgender students in their challenge to the bans imposed in both states for violating the U.S. Constitution as well as 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 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 the ban as an intrusion into free speech rights. The court rejected Colorado’s argument that the law only protected speech, but regulated professional conduct. The court reversed a lower-court decision which had upheld a law brought by Kaley Chiles who argued it violated First Amendment protections from government abridgment.
HAWAII GUNS LAW The conservatives expressed skepticism about a Hawaii gun law which restricts handguns from being carried on public property, such as businesses. They appeared ready to expand the right to 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 judicial decision that Hawaii's Democratic-backed measures likely comply with 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 a private property. Four other states in the United States have laws similar to Hawaii's. The ruling is expected to be made by the end June.
Drug Users and Guns On March 2, the justices heard arguments in a case in which a dual American/Pakistani national in Texas was defending a federal gun law that prohibits users of illegal drugs to own guns. Hunter Biden, son of former president Joe Biden, was charged under this law in 2023. The Justice Department appealed a ruling by a lower court that the gun restrictions were in violation of the Second Amendment rights to "keep and carry arms" guaranteed under the U.S. Constitution. Gun Control Act 1968 included a prohibition against gun ownership by illegal drug users. The decision is expected to be made by the end June.
CAMPAIGN-FINANCE On December 9, the court heard arguments in a Republican led bid to overturn federal spending limits by political parties coordinated with candidates. The case involved Vice President JDVance. The conservative justices seemed to be sympathetic towards the challenge. However, the three liberal members of the court appeared inclined to maintain the spending limits. The debate centers around whether federal limits on campaign spending coordinated with candidates' input violate First Amendment protections against government abridgment. Vance and Republican challengers have appealed the ruling of a lower court that ruled on restrictions on how much money can be spent on campaigns by parties with input from candidates who support them, a type political expenditure called coordinated party expenses. The ruling is expected to be made by the end June.
MAIL-IN BALLOTS
Conservative justices expressed skepticism in a March 23 case against a Mississippi law that allowed 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 of June.
U.S. ASYLUM - PROCESSING: The court seemed likely to rule for the Trump administration's defense of its authority to reject asylum seekers when officials deem U.S. - Mexico border crossings to be too overburdened to process additional 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 officers 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 attempt to close down thousands of lawsuits alleging 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 to Roundup glyphosate. 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 that accused the company of developing technology that enabled China's government to monitor and persecute Falun-Gong members. Cisco asked the court to limit the scope the Alien Tort Statute which allows non-U.S. Citizens to sue in American courts over violations of international laws. 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 a defense put forth by the Trump Administration of the SEC’s broad disgorgement powers. The ruling is expected to be made by the end June.
FCC fines wireless carriers
Justices seemed to be inclined to maintain the Federal Communications Commission system for levying fines, despite a challenge from major wireless carriers against the agency's regulatory powers. During the April 21st arguments, the majority of justices appeared skeptical about the claims made by Verizon Communications and AT&T's lawyers that the Federal Communications Commission's internal proceedings 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?potential criminal suspects by using data from mobile phones near crime scenes is in 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. 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 "crisis pregnancies centers" that are anti-abortion and trying to obstruct a state investigation as to 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, which sought information about the organization's doctors and donors. The lawsuit had been thrown out by a lower court. First Choice's facilities are designed 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. On November 10, the case was brought before a federal statute protecting prisoners from religious discrimination. Plaintiff Damon Landor's religion requires that he let his hair grow. He appealed the decision of a lower court to dismiss his lawsuit, because they found that he could not 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 violates 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 piracy of songs by subscribers to its internet service. These include Sony Music, Warner Music Group, Universal Music Group, and other labels. This ended their multi-billion dollar music copyright suit. The ruling of 9-0 overturned the decision by a lower court to order a trial to determine the amount the internet service provider was liable for the record labels under a form liability known as contributory copyright violation. Cox said that a retrial would have resulted in a verdict of up to $1.5 billion against the Atlanta ISP.
(source: Reuters)