The US Securities and Exchange Commission (SEC) approved rule amendments Wednesday that provide greater oversight and regulation of credit rating agencies. The rule amendments, which were passed to strengthen the Credit Rating Agency Reform Act of 2006 , will effect ratings agencies including Standard and Poor's and Moody's , who provide graded analysis of the [...]

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US Department of Justice (DOJ) lawyers on Tuesday filed a challenge to a federal judge's decision to stay the execution of convicted murder suspect US Army private Ronald Gray. Judge Richard Rogers for the US District Court for the District of Kansas last week ordered the stay of the execution, which had been scheduled for [...]

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The International Criminal Court (ICC) on Tuesday temporarily postponed proceedings against former Democratic Republic of Congo (DRC) rebel leader Jean-Pierre Bemba because another member of the pre-trial chamber was granted a leave of absence due to "grave family circumstances." The absence of a member of the chamber left an insufficient number of judges on the [...]

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The US Supreme Court heard oral arguments Wednesday in two cases. In Philip Morris USA v. Williams , the Court considered for a third time a $79.5 million punitive damages verdict against Philip Morris USA . The Court previously ruled that the punitive damages award based "in part on desire to punish the defendant for [...]

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The Roman Catholic Diocese of Springfield, Massachusetts announced Tuesday that it has settled 59 sexual abuse claims against the church through voluntary arbitration. The total amount for the settlements was $4.5 million with individual awards ranging from $5,000 to $200,000 for incidents of abuse from 1948 to 1986. Springfield bishop Timothy McDonnell said of the [...]

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