Law & Regulation
Takata, the Japanese auto parts maker, will pay a $1 billion fine to the U.S. government after pleading guilty to hiding information about the likelihood that the company’s car air bags could accidentally explode. Takata air bags have been linked to at least 17 deaths around the world.
The Supreme Court announced Monday that it would consider a lawsuit that accuses the nation's largest telephone companies of violating federal antitrust law by conspiring to carve up local markets to preserve their monopolies.
The world's carbon trading markets growing complexity threatens another "sub-prime" style financial crisis that could again destabilise the global economy, campaigners warn. In a new report, Friends of the Earth says that to date "cap and trade" carbon markets have done little to reduce emissions but have been plagued by inefficiency and corruption.
The Supreme Court on Wednesday slashed the $2.5 billion punitive damages award in the Exxon Valdez disaster to $500 million, a decision that could have broader implications for limiting how much courts can order businesses to pay.
A nonprofit organization, Neighborhood Assistance Corp. of America, or NACA, has emerged as one of the loudest scourges of the banking industry in the post-bubble economy. Though some bankers privately deplore his tactics, NACA's Bruce Marks is a growing influence in the lending industry and the effort to curb foreclosures.
Setting aside its home base in the Upper Midwest, Detroit has a blue state problem -- and it is about to get worse. Washington and Oregon plan to become the 9th and 10th states to adopt California's tough car emissions rules, forming an increasingly potent market for more fuel-efficient vehicles on the West Coast and in the Northeast.
The Bush administration has argued strongly in favor of the doctrine, which holds that the F.D.A. is the only agency with enough expertise to regulate drug makers and that its decisions should not be second-guessed by courts. The Supreme Court is to rule on a case next term that could make pre-emption a legal standard for drug cases. The court already ruled in February that many suits against the makers of medical devices like pacemakers are pre-empted.
Undersecretary of Defense Stephen A. Cambone ordered an internal study of how funding earmarked in a bill by then-Rep. Randy "Duke" Cunningham (R-Calif.) led to contracts for MZM Inc. to do work for the Pentagon's new agency: the Counterintelligence Field Activity.