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Fox News on trial in $1.6 bn defamation case
Opening arguments begin Tuesday in a major defamation trial against Fox News that tests the extent of free speech rights for media in America -- even when broadcasting election falsehoods. It claims it was only reporting on Trump's allegations, not supporting them, and is protected by free speech rights enshrined in the First Amendment of the US Constitution.
Sacred Sundays: US high court debates religious rights at work
The US Supreme Court opened debate Tuesday on the rights of a Christian mail carrier who refuses to work on Sundays, in a case that could force employers to do more to accomodate religious beliefs in the workplace.
HSBC's largest shareholder outlines bank break-up strategy
HSBC's largest shareholder ramped up pressure on the bank to break up its business on Tuesday, saying it was underperforming and has failed to "address key business model challenges". "It is necessary for HSBC to push for structural reform to fundamentally address HSBC's underlying market competitiveness issues," Michael Huang, chairman and CEO of Ping An Asset Management, said in a statement.
UK overhauls energy regulation after meter scandal
Britain cracked down Tuesday on energy suppliers' forced installation of prepaid meters following outrage as some of their most vulnerable customers faced higher bills during a cost-of-living crisis. Ofgem said Tuesday that the new voluntary code, signed up to by all energy suppliers, will halt such forced installations for customers over the age of 85 and those with severe health issues.
Goldman Sachs results hit by slowdown in corporate mergers
A slowdown in corporate transactions and weak trading results weighed on Goldman Sachs' first-quarter results on Tuesday, sending shares lower. The big investment bank pointed to a "significant decline in industry-wide completed mergers and acquisitions transactions" and much lower revenues for currency and commodities trading as drivers of the dip in profits.
Absolut vodka says halts exports to Russia
The maker of Sweden's Absolut vodka said Tuesday it was ceasing all exports to Russia after calls to boycott the brand flared up in Sweden and on social media. The Absolut Company said it "has decided to stop the export of its brand to Russia."
Electric vehicles are key battleground at Shanghai Auto Show
China was the road to the future for foreign brands at the Shanghai Auto Show on Tuesday who are racing to catch up with Chinese competitors in the crucial electric vehicle market.
EU lawmakers adopt vast carbon market reform
The European Parliament adopted sweeping climate measures on Tuesday aimed at massively cutting EU greenhouse emissions, including the introduction of a carbon border tax on imports. Technically called an "adjustment", not a tax, this measure requires importers into the EU whose products exceed the bloc's carbon norms to buy an "emission certificate".
Apple opens first India store in market push
Apple opened its first retail store in India on Tuesday, underscoring the US tech titan's increasing focus on the South Asian nation as a key sales market and alternative manufacturing hub to China. Sales and marketing executive Purav Mehta, 30, camped overnight outside the store ahead of the opening, bringing with him his still-unopened 2013 iPod Touch.
AFP
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