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News ECJ advocate general finds GlaxoSmithKline violated antirust laws
ECJ advocate general finds GlaxoSmithKline violated antirust laws
James M Yoch Jr
April 2, 2008 10:57:00 am

European Union Advocate General Damaso Ruiz-Jarabo on Monday advised the European Court of Justice (ECJ) that pharmaceutical giant GlaxoSmithKline (GSK) has engaged in abusive practices that contravene EU antitrust laws in connection...

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News Bear Stearns hit with lawsuits over stock value, proposed merger
Bear Stearns hit with lawsuits over stock value, proposed merger
James M Yoch Jr
March 18, 2008 02:14:00 pm

Beleaguered investment bank Bear Stearns was hit with two major lawsuits Monday in the wake of its announced acquisition by JPMorgan Chase . The first suit , filed in US District Court for...

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News SEC files civil fraud charges against ex-Refco CEO
SEC files civil fraud charges against ex-Refco CEO
James M Yoch Jr
February 20, 2008 04:09:00 pm

The US Securities and Exchange Commission (SEC) on Tuesday filed a complaint accusing former Refco Inc. CEO Phillip R. Bennett of committing civil fraud in connection with allegations that he reported false...

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News Yahoo! stockholders sue over rejected Microsoft takeover bid
Yahoo! stockholders sue over rejected Microsoft takeover bid
James M Yoch Jr
February 12, 2008 02:11:00 pm

The Wayne County Employees' Retirement System (WCERS) on Monday filed a complaint in the Delaware Court of Chancery challenging the decision of the Yahoo! board of directors to repudiate an unsolicited takeover offer...

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News Federal appeals court reverses cattle rancher victory in price manipulation case
Federal appeals court reverses cattle rancher victory in price manipulation case
James M Yoch Jr
January 30, 2008 04:12:00 pm

The US Court of Appeals for the Eighth Circuit on Tuesday reversed a controversial trial court judgment in favor of a plaintiff class of cattle ranchers claiming that defendant meat-packing companies underpaid them based on...

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News ECHR rules Belgium police violated rights of journalist investigating EU fraud
ECHR rules Belgium police violated rights of journalist investigating EU fraud
James M Yoch Jr
November 27, 2007 11:42:00 am

The European Court of Human Rights (ECHR) Tuesday ruled that Belgian police violated Article 10 of the European Convention on Human Rights by searching the home and office of...

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News Iraq to join chemical weapons treaty
Iraq to join chemical weapons treaty
James M Yoch Jr
November 27, 2007 11:04:00 am

Iraq will join the Chemical Weapons Convention (CWC) and become a member of the Organization for the Prohibition of Chemical Weapons (OPCW) , according to a Monday statement from the office of Iraqi President Jalal Talibani [BBC...

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News Iran high court orders new probe into Canadian journalist death
Iran high court orders new probe into Canadian journalist death
James M Yoch Jr
November 27, 2007 10:41:00 am

The Iranian Supreme Court has ordered a new probe in the case of murdered Iranian-Canadian photojournalist Zahra Kazemi on an appeal of a lower court order that the case be reopened, a...

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News Failed London bomber sentenced to 33 years in prison
Failed London bomber sentenced to 33 years in prison
James M Yoch Jr
November 20, 2007 12:07:00 pm

A UK judge Tuesday sentenced Manfo Kwaku Asiedu to 33 years' imprisonment for his role in the July 21, 2005 failed bomb attacks on London's transit systems . Earlier this month, Asiedu pleaded guilty [JURIST...

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News Japan begins fingerprinting foreign visitors
Japan begins fingerprinting foreign visitors
James M Yoch Jr
November 20, 2007 11:37:00 am

The Japanese government on Tuesday began fingerprinting and photographing foreign visitors, pursuant to an anti-terror bill that was approved by Japan's upper house of parliament in May. If the government determines that a visitor poses...

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Peru dispatch: protesters demand new elections as death toll from political violence surges under newly sworn-in president

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THIS DAY @ LAW

President Lincoln signed first US federal income tax act

On July 1, 1862, the Tax Act of 1862 was passed and signed by President Lincoln, establishing a 3% federal tax on income above $600 and a 5% tax on income above $10,000.

Compliance with the act was poor, even though there were needs for the Civil War. After the war the act was declared unconstitutional by the Supreme Court. Review a brief history of the US income tax from the Library of Congress.

UK returns Hong Kong to China

On July 1, 1997, the United Kingdom returned Hong Kong to China at the conclusion of a 99-year lease. The foundation for the transfer of power was set in December of 1984, when China and UK signed the Sino-British Joint Declaration on Hong Kong. The Declaration affirmed the handover of Hong Kong along with governing principles. Most significantly, the Chinese agreed not to impose their socialist system on Hong Kong.

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