Recent Updates
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Companies crank up deal machine, put cash to work
Business Law 11/16/2010From Caterpillar to Chevron to Google, some of the best-known names in corporate America are scooping up smaller companies, finally putting the piles of cash they've been sitting on to use and positioning themselves for a stronger economic recovery.T...
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Madoff, Halliburton, Wells Fargo in Court News
Business Law 11/01/2010Irving Picard, the trustee overseeing the bankruptcy of Bernard Madoff’s investment firm, spent $26.9 million in the six months ended Sept. 30 while recovering $849,000 for victims of Madoff’s Ponzi scheme, according to a report filed in Manhattan fe...
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Amazon Wins in Court Against NC for Now
Business Law 10/26/2010Amazon and the state of North Carolina have been fighting in court as NC tries to get residents that purchased on Amazon to pay sales tax the state feels it is owed. NC has demanded that Amazon reveal all sorts of buyer information like names, addres...
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Court strikes down parts of Ohio milk labels rule
Business Law 10/01/2010Dairy processors can make claims that their products are free of a synthetic growth hormone, a federal appeals court ruled Thursday in striking down parts of the state's rule on milk labeling.Key parts of the state's labeling rule violated First Amen...
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Warren Buffett: 'We're still in a recession'
Business Law 09/23/2010Billionaire investor Warren Buffett said the U.S. economy remains in recession, disputing this week's assessment by a leading arbiter of economic activity that the downturn ended more than a year ago."We're still in a recession," Buffett told CNBC te...
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ND Supreme Court upholds $12K bank overdraft fee
Business Law 09/23/2010North Dakota's Supreme Court said a bank acted reasonably when it charged a customer almost $12,000 in overdraft fees. Lynette Cavett of Enderlin said the fees were "unconscionable." But a judge ruled the Quality Bank of Fingal disclosed the fees and...
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Regulators close 6 banks in Ga, NJ, Ohio, Wis
Business Law 09/18/2010Regulators on Friday shut down three Georgia banks and one each in New Jersey, Ohio and Wisconsin, boosting to 125 the number of U.S. bank failures this year amid the tough economic climate and growing loan defaults.The Federal Deposit Insurance Corp...
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Banks post $21.6 billion profit in 2nd quarter
Business Law 08/31/2010A mixed picture of U.S. banks emerged Tuesday as the industry posted its highest quarterly earnings in nearly three years while the number of troubled institutions grew by more than 50.Banks overall made $21.6 billion in net income in the April-to-Ju...
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U.S. appeals court upholds $33 bln wireless auction
Business Law 08/25/2010An appeals court upheld federal government auctions of about $33 billion of wireless spectrum, saying it would be "imprudent and unfair" to undo them even though some rules governing them were invalid.Tuesday's ruling by the U.S. Third Circuit Court ...
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Stocks drop as jobless claims rise unexpectedly
Business Law 08/19/2010Stocks fell Thursday after the Labor Department said claims for unemployment benefits rose unexpectedly last week, renewing concerns about the pace of the economic recovery.The disappointing news about the jobs market came minutes after news that Int...
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BP Deposits $3 Billion in Spill Fund
Business Law 08/09/2010BP PLC said Monday that it has made an initial deposit of $3 billion into a $20 billion spill-recovery fund. BP said it was making the deposit earlier than the originally scheduled Sept. 30 deadline to show its commitment to restoring the livelihoods...
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Mich. oil pipeline shut down for work before spill
Business Law 08/04/2010Federal regulators say a company shut down a Michigan pipeline for planned maintenance hours before 911 calls about odors in the area where a massive oil spill was reported the next day.National Transportation Safety Board officials told reporters Mo...