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Argentina's YPF increases investment forecast to $6.2 billion by 2026
YPF, the Argentinean oil company, is planning to invest up to $6.2-billion in 2026. This is higher than its previous estimate of $5.8-billion, said CEO Horacio Martin on Tuesday during a presentation for investors. The executive said that YPF now projects EBITDA (earnings before interest, tax, depreciation, and amortization) of $8 billion for this year. This is a significant jump from the 'previous estimate' of $6 billion. He said that the increase in EBITDA was due to a rise in oil prices. YPF is the leader in the Vaca Muerta Formation, which has the second largest unconventional shale-gas reserve and the fourth-largest shale-oil reserve. YPF reported a net 'profit' of $1.21billion in the second quarter 2026, compared to $58m a year ago. The company cited higher shale shale production, record shale processing levels, and a rise in international prices. The country depends on the formation's growth to 'boost' the country's foreign currency reserves, which are needed to'stabilize its economy, reduce inflation and pay back heavy debts to IMF.
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Markets expect key US inflation data
The price of gold edged up a little bit?on Monday after reaching a'more than two-month high earlier.?Market participants are awaiting important U.S. Inflation figures which could influence expectations about the Federal Reserve policy path. Gold spot was up 0.1% at $4,393.69 an ounce, at 09:37 am EDT (1337 GMT), having hit its highest level in June at $4,434.84. U.S. Gold Futures increased 0.8% to $4453.40. The market is waiting for this week's data on inflation to confirm that the inflation rate is under control, said Peter Grant, vice president and senior metals analyst at Zaner Metals. He added that a moderated annualized CPI would?continue support gold. After the weak U.S. July jobs data, which was released on Friday, led to a reduction in bets on the Fed raising rates next month and a 2.4% gain on gold each day, it is likely that Wednesday's consumer price report as well as Thursday's producer price data will influence monetary policy expectations. Grant stated that "gold is still reasonably well bid as of this point, in light of the disappointing jobs data last week which has eroded expectations regarding a rate increase in September." According to the CME FedWatch Tool, traders still price in a probability of 48% for a hike in September and 78% in December. Beth Hammack, President of the Cleveland Federal Reserve Bank, said that she believed the time was right for a gradual increase in rates to avoid a need for a sharper increase later. Gold that does not yield tends to be less attractive in an environment with higher interest rates. In the geopolitical arena, U.S. president Donald?Trump has responded to Tehran's demands for a peace deal by requesting that Iran pay compensation to those who have died in wars, terrorist attacks, and protests. Oil prices retreated despite signs of progress made in Oman and Iran talks?over shipping via the Strait of?Hormuz, as they were weighed against the ongoing disruption of Middle East energy supplies. Silver spot fell 1.4%, to $64.81 an ounce. Platinum dropped 0.2%, to $1749.51, while palladium declined 1.3%, to $1364.75. (Reporting by Sukanya Mitra in Bengaluru. Mark Potter (Editing)
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Sources say that Russia's Sibur Petrochemical Plant in Western Siberia was shut down after a drone attack.
Three industry sources have confirmed that the Sibur Zapsibneftekhim Petrochemical Complex in Tobolsk (in western Siberia's Tyumen region) was damaged by a drone attack on Monday. Sources said that the plant, Russia's largest liquefied gas plant, was closed indefinitely while the damage and its effects were assessed. Regional Governor Alexander 'Moor' said on Monday that an industrial site had caught fire in the Tyumen area following a drone attack, but he did not name the facility. Sibur declined to comment on an inquiry. The St. Petersburg International Mercantile Exchange has not offered any LPG deliveries from the Tobolsk loading station on Tuesday. In the first half of this year, 4,000 metric tonnes per day were regularly sold from Tobolsk. Zapsibneftekhim, according to industry sources, produces approximately 6 million metric tonnes of?LPG per year, which is about 40% of Russia's total LPG production. About half of the LPG produced at the site is used as feedstock in the petrochemical plant at Sibur Tobolsk.
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South Africa mine dump collapse kills 14 illegal miners, police say
Police said that at least 14 suspected illegal miners were killed and eight injured when a mine-dumping site collapsed on Monday in South Africa's North West Province. Arthur Peter Adams, the provincial police commissioner, said that search and rescue operations are underway for an unknown number of people trapped near Rustenburg. Adams stated that the collapse happened as miners were digging for platinum group metals in a 'disused dump' on a private company site. Lesotho is a country in Southern Africa. The nationality of the deceased has not yet been confirmed. South Africa has been plagued by illegal mining for many decades. It can range from small-scale thefts to operations run by organized criminal networks. Undocumented'miners' often enter abandoned commercial mines in order to extract the remaining deposits. Illegal mining costs the government and mining industries hundreds of millions?of dollars each year as a result of lost sales, taxes and royalties. (Reporting by Siyabonga Sishi. Nilutpal Timsina is reporting from Johannesburg. Alexander Winning, Mark Potter and Mark Potter (Editing)
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Ukrainian prisoners describe torture and sexual abuse they suffered while detained in Russian custody
Former Ukrainian detainees as well as Ukrainian officials have accused Russia of torturing civilian and military?detainees. They also said that they held them incommunicado, subjected them to electric shocks, and sexually abused thousands of people. Russia has rejected the allegations that were made during an informal U.N. Security Council Meeting. Its Deputy U.N. representative Maria Zabolotskaya called it "a campaign of disinformation" and claimed that Russian prisoners held in Ukraine had been subjected "to torture and degradation, and moral and physically abuse." Khuan Levya-Garsiya is still an active member in the Ukrainian military. He claims that his Russian captors tortured him for 1,183 days. "Yes ... "I was tortured," said he to reporters after the U.N. conference. "Anything that you can imagine, which is hurtful or humiliating, could be done to a male, without his consent. You can imagine anything, including verbal abuse, physical abuse and electrocution. All the things that could be done to someone in order to break them mentally. All of it was applied to me, and many of my "comrades." Garsiya told the U.N. meeting that he had been lucky to have survived, but two of his close friends died in Donetsk detention centers. He told the U.N. that prisoners were kept in "overcrowded bars without adequate conditions" where "almost everyone was ill with dysentery," and many of them were starving. He said that guards were targeting him because of his Latino surname, accusing him?of being "a mercenary, and an American spy." Leniie Umerova is a Crimean Tatar activist who was released as part of a prisoner swap in 2024. She said that she had been detained when trying to visit her seriously-ill father in Crimea. She said she was moved through "seven prisons" in a "carousel" of repression and accused Russia for torturing Ukrainians held in captivity. Oleg Gushin, the Coordination Headquarters for the Treatment of Prisoners of War of the Ukrainian Government, said that Ukrainian prisoners are "tortured and killed" while in custody. He claimed that Kyiv identified "more 300 places of detention in Russia and on occupied Ukrainian territory" and while "thousands", if not "thousands", Ukrainians were still in Russian captivity. Volodymyr Pavlichenko, Ukraine's Charged d'Affaires, called for increased international pressure on Russia to hold it accountable for the treatment of its prisoners. "WIDEPREAD AND SYMPATHETIC" U.N. Assistant Secretary-General for Human Rights Claudia Fuentes Julio stated that U.N. monitoring showed "widespread, systematic torture and ill treatment of Ukrainian prisoners-of-war and civilian detainees continues by the Russian Federation Authorities," including sexual violence. Since February 2022 the?U.N. The Office of the United Nations' High Commissioner for Human Rights documented the executions of 129 Ukrainian POWs at the start of their captivity, and the deaths in custody of 48, which resulted?from torture or denial of medical treatment, or from other inhumane detention conditions, she said. She stated that more than 95% Ukrainian prisoners of war interviewed had reported torture or mistreatment. She said that more than half of respondents also reported sexual abuse, such as "rapes, gang-rapes, beatings while nude and beatings on the genitals." She stated that the?U.N. She said the?U.N. Fuentes Julio stated that the OHCHR also documented torture and ill treatment of Russian and foreign nationals held as prisoners of war by Ukraine but on a "fundamentally different scale." She stated that about half of Russians and other third-country detainees interviewed had reported abuse in the initial stages of their captivity. (Reporting and editing by Stephen Coates; David Brunnstrom, Andrea Shalal)
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Andy Home: Copper's Congo-panic says more about copper and Congo than ROI-Copper
Doctor Copper had a panic episode last week when the Democratic Republic of Congo banned exports of cobalt and copper concentrates. On the news, London Metal Exchange (LME), three-month copper jumped to a six-month high at $14,369.50 a metric ton. Cash price reached a record high of $14.453.60 per metric ton as spreads tightened simultaneously. Despite Congo being the largest supplier of battery metal in the world, there was no reaction from?the CME cobalt prices. Cash cobalt ended Friday at $25.99 a lb, a 0.9% drop on the previous week. It is easy to understand the cobalt market indifference. Congo does not export cobalt concentrates but rather cobalt hydrxide, a product intermediate that is already subjected to export quotas. Congo exports very little copper concentrate and focuses instead on refined metal. Kinshasa banned the export of copper concentrate on three occasions in the past, but granted repeated exemptions to miners. Copper's acute sensitivity at any sign of disruption in supply is the real story here, not Congo's ambition to move further down the value-chain. Tightening the screws The copper deposits in Congo are ideally suited to electrowinning. This means that most operators can convert the metal they mine directly into metal. According to StoneX analysts, 82% of Congo's total production last year was produced on-site as refined copper. Kinshasa, however, has not hidden its intention to process the remaining concentrates itself. The two first export bans, in 2013 and 2019, failed because the Congo lacked a large-scale smelting capability. Rolling waivers enabled concentrate exports to continue. The investment from China's state owned mining company CNMC, and Yunnan Copper, enabled the country to get its first modern smelter by 2020. Lualaba's smelter is capable of processing?400,000 tons per year but that amount does not cover Congo's production. The 2023 ban on exports also included waivers. This was especially true for the "giant Kamoa Kakula mine complex", a joint venture of Ivanhoe Mines and Zijin Mining Group, which began producing in 2021. Ivanhoe agreed to build a new steel smelter in exchange for the money. This it did. The company reported that the massive plant, which can produce 500,000 tons per year, was put online in January last year. It has been operating at 60% capacity since February. In the first half 2026, China's copper concentrate imports from Congo dropped by 31% on an annual basis. Congo's processing deficit should be reduced as the smelter increases. In case this doesn't happen, the new ban allows for "strategic waivers". SUPPLY SENSITIVITY Goldman Sachs says that the latest export ban won't have a "material impact" on global copper markets. It will however tighten a raw materials market that is already under pressure. Smelter processing charges have fallen due to fierce competition in the copper concentrate market. Copper bulls are accustomed to the smelter pressure, which is why they reacted so strongly to last week's announcement. London's market is the most sensitive to supply-side disruptions, as it is caught in the middle of China's gravitational pull and the United States, with its even greater force, due to the threat of import tariffs. LME copper stock has fallen from 401,000 tonnes in early May to just 214,550, with 58% of the total held as cancelled warrants, awaiting actual load-outs from exchange warehouses. Another 138.408 tons of Copper are in LME off warrant storage. 79% of the shadow stock is at U.S. Ports, ready to be cleared through customs, if the CME Delivery Premium over the?LME increases. Time-spreads are tightening as a result of the tension in London. The benchmark cash-to-3-month spread has fallen from its highs of last week, but the outright price of copper is still up. The cash premium has gotten tighter. On Monday, cash premiums reached $171 per ton, the highest since October of last year. Doctor Copper's panic is unlikely to be the only one if LME stocks continue to?drain away eastwards and westernwards. Andy Home is a columnist at. This column is great! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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Stocks edge higher as oil prices rise amid US-Iran tension
On Tuesday, oil prices were?just below $90 per barrel as the United States and Iran reached an impasse in their negotiations over a peace agreement and the reopening of the Strait of Hormuz. Meanwhile,?uncertainty about the global inflation outlook dampened a rise of the?stocks. U.S. President Donald Trump responded on Monday with his own conditions to Tehran's demands for a deal. He called for Iran to compensate those who died in wars and attacks, as well as protests. This could complicate efforts to reopen this crucial waterway. Brent crude futures rose 5% over the past two days and last traded at $88 per barrel. This was their highest price since July 31, and almost 25% higher than early July's four-month-low. Tony Sycamore is a market analyst for IG. He said that the war will be fought on attrition. "You can probably see the (oil market) sitting around the $75-$95 range while we wait to find out who blinks first." Money markets indicate that there is a 50% chance of an increase at the Federal Reserve meeting in September. Jonas Goltermann is the chief markets economist for Capital Economics. He said: "We believe that risks are skewed in favor of a hot print. This would likely drive a rebound?in rate expectations, and potentially, renewed concerns about stagflation." U.S. Treasuries stabilized. The 2-year Treasury yields fell by 1 basis point to 4.23%. Meanwhile, the 10-year Treasury yields remained essentially flat at 4.7%. Investors' risk appetite is further impacted by a new push up in 30-year bond rates towards the 19-year highs of above 5.28% that were reached in July. The latest news, which has seen yields and commodities prices move higher, has changed the mood to a more hawkish one. The STOXX 600 index in Europe pared its earlier losses and gained 0.1% for the day. MSCI's All-World Index was unchanged. Nasdaq's futures rose by 0.4% while those for the S&P500 rose by 0.2%. The benchmark indexes declined?on Sunday. Overnight, Nvidia announced that it had teamed with six major financial institutions, including BlackRock and Apollo, to create funding measures for AI infrastructure worth more than 500 billion dollars. The plan did not reveal any more details, including financial terms, commitments to invest or how $500 billion could fit in with existing funding arrangements. Sycamore said, "A small piece of me wondered if this was how it felt when the first sub-prime loans became mainstream products - the innovation which ultimately helped trigger the GFC." Another selloff of Nvidia bonds highlighted some investor concerns. The Tradegate platform last showed its 2% bond maturing in 2031 at 4.86%, an increase of 4 basis points from Monday. Intel, on the other hand, raised $20 billion via a share offering, which was the first time since 1971 that it had offered its stock. Intel shares dropped around 1% during premarket trading. The yen, among currencies, was once again in the spotlight as it fell below 159 and was well off its high of last week of 155.20. This was after several suspected rounds of interventions, including one by Japan and the United States. The holiday in Japan led to a thinner trading volume than usual. This is often viewed as a catalyst for possible intervention as small trades have a greater impact on prices than normal. Gold, which is up 8% this month so far, was also 0.1% higher than the previous day, at $4,394 per ounce. (Rae Wee contributed additional reporting from Singapore; Clarence Fernandez edited the story with Kate Mayberry, Toby Chopra and Toby Chopra.)
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Austrians rush to slaughterhouse as hot weather in Europe stunts Austrian crops
Farmers say that the scorching European summer of this year is affecting agriculture, even in Austria. The heat has'stunted' crop growth, and cows have been dragged from parched Alpine pastures to be slaughtered early. Johann Fessl is a dairy farmer from northern Austria who raises his cattle on Alpine pastures at 1,300 meters (4,300 feet). Heat and lack of rainfall have caused a shortage of grass and water for cattle. This will force farmers to move cows to barns earlier to eat hay that was intended for winter last year. Some farmers send their cattle to slaughter earlier to reduce costs. Fessl is the head of an association of pasture-based cattle producers in Upper Austria. He explained that the situation differs on every hill and mountain. He said that some farmers are discussing emergency slaughters this year. "The list of people waiting to be slaughtered is long." GRAIN HARVEST IS EXPECTED BY 19% TO SHRINK THIS YEAR. Crops are also affected. AgrarMarkt Austria - a national organization that oversees food production - said in a statement this month that it expects grain harvest to be 19% smaller. Corn, which needs even more water, also suffers. Roland Radner, a farmer in Germany, cut down his corn very early because the yield was so poor. The remaining stems are yellowed and not the usual green. The heat has halted the development of many of Barbara Stemberger's 30 varieties of tomatoes in the greenhouses near Linz. Due to the extreme heat in the last few weeks, many tomatoes have blossom-end rot. The tomatoes can still be eaten if the rotten bits are removed, but they cannot be sold as-is. There is at least a silver lining for them. Stemberger stated that "the carrots are flourishing exceptionally this year due to the heat." (Writing and editing by Francois Murphy)
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 the end of 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 minorities less likely to challenge a map as racially biased under the landmark civil right law. The court blocked an electoral map which would have given Louisiana a 2nd U.S. Congress district with a majority of Black people. The decision severely undermined Section 2 the Voting Rights 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 Right Act in 2013, Section 2 gained more importance as a "bulwark" 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 in the United States. The justices asked the administration's attorney about the legal validity and practical implications of Trump's order. The lower court blocked Trump’s executive order that instructed U.S. agencies to not recognize citizenship for children born in?U.S. If neither parent is a legal permanent resident or American citizen, this is also known as a "green-card" holder. The court found that Trump's policies violated the 14th Amendment of the U.S. Constitution and federal laws codifying birthright citizenship. The Supreme Court will likely rule by June's end.
TRUMP'S TARIFFS On February 20, the justices struck down Trump's sweeping trade tariffs, which he imposed under a law intended for national emergencies. This ruling has major implications?for global economic growth. The 6-3 decision upheld the lower court's ruling that Trump had exceeded his authority in 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" if the president so deemed. However, the law did 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 Trade Commission Firing The conservative justices of the court have indicated that they will uphold Trump's legality in firing a Federal Trade Commission Member and give an historic boost to president power, while also putting at risk a 90-year old legal precedent. On December 8, the court heard arguments in the Justice Department appeal of the lower court's ruling 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 sports players from participating in female teams, amid an escalating nationwide effort to restrict rights for transgender individuals. 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" The court rejected on March 31, a Democratic-backed Colorado Law that prohibited psychotherapists from utilizing "conversion talk therapy" intended to change a LGBT minor's gender identity or sexual orientation. The 8-1 decision sided with the Christian licensed counselor who argued that the ban was an infringement on his right to free speech. 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 a law brought by Kaley Chiles who argued it violated First Amendment protections from government abridgment.
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 a firearm again. On January 20, the court heard arguments in an appeal filed by opponents of the law, backed by Trump's administration. The challengers were appealing a ruling by a judge that Hawaii's Democratic backed measure probably complies with U.S. Constitution Second Amendment rights to bear and keep arms. Hawaii's law demands that a property owner "expressly authorize" the handgun to be brought onto public 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 possession by illegal drug users was prohibited under the landmark Gun Control Act 1968. 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 strike down "federal limits" on spending by parties and candidates coordinated with each other in a case that 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-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 allow mail-in votes received after Election Day be counted. This case could lead to stricter voting laws across the country. The Trump administration supported the challenge against Mississippi's law that allows mail-in votes sent by certain voters be counted as long as they are postmarked before Election Day and received within five business days of a federal election. In Mississippi, absentee voting is only available to certain categories of voters. These include the elderly, disabled and those who live away from home. A lower court ruled that the law was unconstitutional. The court is expected to rule by the end June.
U.S. ASYLUM - PROCESSING: The court seemed likely to rule for the Trump administration's defense of its authority to reject asylum seekers if officials deem U.S. - Mexico border crossings to be too overloaded to handle more claims. On March 24, the court heard arguments in a dispute over a policy known as "metering," which Biden's administration dropped in 2021. The Republican president may want to reinstate it. It allowed U.S. Immigration officials to stop asylum seekers and refuse to process their applications indefinitely. The decision is expected to be made by the end June.
WEEDKILLER CAUSES CANCER The court seemed divided on Bayer AG’s efforts to stop thousands of lawsuits alleging that the German company failed to warn users of the dangers of the active ingredient of its Roundup weedkiller. On April 27, the court heard arguments in Bayer’s appeal of a Missouri state court jury verdict awarding $1.25million to a man called John Durnell, who claimed he had been diagnosed with non-Hodgkin's lymphoma following years of exposure. Bayer's claim that U.S. pesticide law prohibits lawsuits based on state laws was rejected by the lower court. The court is expected to rule by the end of 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, in a long running lawsuit, 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 which allowed 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 "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. The SEC was defended by the Trump administration in this 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 against 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.
'GEOFENCE" WARRANTS On April 27, the court heard arguments in a Virginia case about whether or not law enforcement's use a "geofence warrant" to identify suspects using data from?cellphones near crime scene violates Fourth Amendment's bar on unreasonable searches. Geofence warrants approved by the court compel companies, such as Alphabet’s Google, 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 "crisis pregnancies centers" that are anti-abortion and trying to obstruct a state probe into whether these facilities engage in misleading practices. First Choice Women's Resource Centers brought a federal suit against a subpoena issued by the state attorney general in 2023 seeking information about the organization's doctors and donors. A lower court had dismissed the lawsuit. First Choice's facilities are designed to discourage women from getting abortions.
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. On November 10, the case was brought before the court 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 him to sue officials individually for monetary damage. The ruling is expected to be made by the end June.
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's method of determining 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 who claimed that prosecutors had discriminated against him by excluding Black potential jurors in a trial where he was found guilty in 2006 of his involvement in the murder?of a supermarket owner. The justices found that the state courts of Mississippi had not evaluated Terry Pitchford’s claim that four Black prospective jurors were unlawfully dismissed, in violation a 1986 Supreme Court precedent called Batson v. Kentucky which prohibits exclusion based on 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 a federal securities law. The court reversed an earlier ruling allowing hedge fund Saba Capital Master Fund, to sue the Investment Company Act of 1980 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)