AP / Reuters News

Big Business the Winner in U.S. Supreme Court Class Actions

In a series of rulings this year, the U.S. Supreme Court has steered a consistent course against consumers or small businesses that want to bring class action lawsuits against corporate defendants. Comcast Corp, Whirlpool Corp and Sears Holdings Corp’s Sears …

High Court Rules for American Express in Class Action Case

The U.S. Supreme Court ruled on Thursday that an arbitration agreement prevents merchants from bringing class action claims against American Express Co . The nine-member court ruled on a 5-3 vote, with liberal Justice Sonia Sotomayor recused, that American Express’s …

U.S. Regulators See No Need for Enhanced Insurer Capital

Insurers should not be forced to hold extra capital just because of their size, because the extra cost would simply be passed on to consumers, U.S. regulators said on Tuesday. G20 world leaders have backed imposing extra capital requirements on …

New ‘Obamacare’ Exchanges Could Miss Enrollment Deadline: GAO

New health insurance exchanges being set up by the federal government in more than 30 states under President Barack Obama’s 2010 healthcare overhaul could miss an Oct. 1 deadline for open enrollment, a government report said on Wednesday. The launch …

More Than 100 Insurers Sign Up for Healthcare Exchanges

Federally-run health insurance exchanges created under President Barack Obama’s healthcare law have drawn applications from 120 insurance plans and added at least one new insurer in 75 percent of the states, according to a White House memo. These exchanges, which …

Marsh & McLennan Offers Organized Crime Insurance in Mexico

The Mexican unit of insurer Marsh & McClennan Companies Inc said on Monday it is launching a policy that will cover terrorism, organized crime and sabotage, the first such policy available in a country wracked by drug-related violence. Mexico’s ongoing …

How Banks Will Recover Funds in $45M Cyber Heist

Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based …

Crop Insurance Expansion Pushes Cost Increase in Latest U.S. Farm Bills

The federally subsidized crop insurance program, the costliest part of the U.S. farm safety net, would spin off at least three new types of coverage and could cost 10 percent more under draft farm bills pending in the U.S. House …

Federal Judge Moves S&P Ratings Case Back to State Court

A federal judge handed a legal defeat to Standard & Poor’s, ruling that a lawsuit in which Connecticut accused it of fraudulently inflating credit ratings to win business should be moved back to the state court where it began. In …

U.S. Court Rules Artist Richard Prince Didn’t Infringe Photo Copyrights

In a closely watched case in the art world, American artist Richard Prince won a federal appeals court order Thursday holding that he did not infringe the copyrights of a photographer by incorporating his images into 25 paintings and collages. …