Parents lost daughter to mass shooter, now owe $220,000 to his suppliers

From Westlaw Journal Computer & Internet: The mother and stepfather of a 24-year-old woman killed in a Colorado movie theater mass shooting not only can’t sue the websites where gunman James Holmes bought his ammunition and equipment, but now they may owe two of the businesses more than $220,000 in legal costs.

Senior U.S. District Judge Richard P. Matsch of the District of Colorado dismissed Sandy and Lonnie Phillips’ suit against four websites because Colorado and federal laws shield firearms and ammunition sellers from liability based on a customer’s wrongful acts.  Phillips et al. v. Lucky Gunner LLC et al., No. 14–cv–02822, 2015 WL 1499382 (D. Colo. Mar. 27, 2015).

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Reuters Newsmaker: Capital markets union

European Commissioner for Financial Services, Jonathan Hill, speaks during a Thomson Reuters Newsmaker event

Breaking down barriers to completing the single market in Europe

A Reuters Newsmaker with Lord Jonathan Hill, European Commissioner for Financial Stability, Financial Services, and Capital Markets Union (CMU) indicated that a wave of regulation from Brussels since the financial crisis may ease on his watch but there would be no repeals of legislation.

The event on Friday (April 17), host by Reuters Editor at Large Axel Threlfall and introduced by President of Financial & Risk David Craig, was Lord Hill’s first speech to London’s financial community since his appointment to the European Commission last November.

David Craig said: “We are now a quarter-century on from the historic Maastricht Treaty, which promised free movement of capital within the EU. Perhaps Lord Hill is the man who can finally deliver.”

The aim of CMU reforms, and some $338 (Euro 315) billion in investment, is to kick start growth in Europe. Lord Hill described a lack of jobs and growth as the biggest threat to financial stability in the region. (more…)

Dementia’s daunting rise – Graphic of the day

The world’s population is graying as it grows – the number of people over 65 will more than double by 2050, contributing significantly to the rise in dementia cases. The estimated annual worldwide costs of dementia is at least $604 billion and projected to rise to $1 trillion by 2030. In some high-income countries, one-third to one-half of people with dementia live in resource -and cost- intensive residential or nursing homes. 62% of people with dementia live in developing countries, which is expected to rise to 71% by 2050.

dementia

The search for causes and cures:

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Interview with Yang Du, Head of China Business Desk

As the discussion of the globalization of the Chinese economy and the rise of the Renminbi (RMB) continues to heat up, Yang shares his views on how other major currencies are likely to react in the near future.

Read more on our coverage of China.

Shortcomings seen in U.S. nonbank systemic-risk process for insurers

REUTERS/Brendan McDermid

Critics of the the Financial Stability Oversight Council’s designation of nonbanks as systemically important got a chance last month to point to what they viewed as shortcomings in its approach, while also offering clues for possible improvements, during a U.S. Senate hearing on the issue.

Ever since its creation under the 2010 Dodd-Frank Act, the process by which the council designates systemically important financial institutions, or SIFIs, has been criticized as being heavily politicized, and marred with opacity.

FSOC, its rationale, and designation process

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Q&A with Alisha Miranda, TrustLaw Director

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At the Thomson Reuters Foundation, we stand for free, independent journalism, human rights, women’s empowerment, and the rule of law. We expose corruption, the human impact of climate change, and play a leading role in the global fight against human trafficking and slavery. We use the skills, values, and expertise of Thomson Reuters to run programs that trigger real change and empower people around the world. We tackle global issues. We achieve lasting impact. Explore our 2014 Thomson Reuters Foundation Annual Report

TrustLaw is a story of continuous growth. Tell us about your expansion in 2014.

2014 was a tremendous year for us: we more than doubled the number of connections made in 2013, recruited new firms, and facilitated the first connections in places as diverse as Myanmar, Taiwan, South Korea, and New Zealand. We also grew in places where we were already present, expanding our reach and building deeper relationships, from India to Africa to Europe.

The TrustLaw Index of Pro Bono has quickly become the benchmark for monitoring trends across the pro bono industry. What were the overall findings?

This was really the first poll of its kind, and quite an ambitious project. The goal was to provide a global assessment of trends and benchmarks across the pro bono legal industry on a country-by-country basis. We were thrilled with the response: 103 law firms provided data on their work across 69 different countries. The data highlighted a lot of interesting facts and trends. We were happy to see that the average value of pro bono per lawyer was actually $11,000, and that they had done over 1.5 million hours of pro bono in 2013. (more…)

India’s coal stock – Graphic of the day

Fast-track mine approvals, tighter production oversight and more flexibility in coal sales have helped power station stocks recover from a six-year low India hit in October. Fewer power cuts are likely in the country this summer after a surge in output at Coal India helped generators amass record stocks, a turnaround for Prime Minister Narendra Modi. Today’s graphic shows the coal stock positions at thermal power stations in each province.

coal

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Weekly Investment Banking Scorecard

Investment Banking Scorecard

Fast facts:

  • France M&A activity totals $37.7 billion, down 55% compared to YTD 2014
  • US DCM activity totals $642.6 billion, a 7% increase compared to year ago levels
  • Europe ECM hits $79.2 billion so far in 2015, down 2% compared to last year
  • Financials M&A hits $99.0 billion this year, down 20% from 2014 levels
  • Consumer Products DCM underwriting totals $22.4 billion for YTD 2015, down 17%
  • Technology ECM decreases 42% over 2014 with $19.4 billion raised

For more info, download the full Investment Banking Scorecard.

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Thomson Reuters Deals Intelligence delivers IB content including quarterly reviews showing trends in M&A and Capital Markets.

Protecting China’s tropics with a new kind of accounting

REUTERS/Andy Gao

Along China’s southern coast you can find a city with tropical beaches and a thriving tourist economy. It’s called Sanya, and it, like many other places in China, has seen rapid economic development over the last 15 years. What is different about Sanya is that local leaders decided that as the city embarks on its growth plan, it’s also critically important to keep an accounting of the amount of natural resources and associated ecosystem services being lost, or gained, along the way. This methodology is a form of “natural capital accounting,” or more specifically development of a “natural capital balance sheet,” and confronted with daunting challenges, the city of Sanya provides an example for China and the world of how to grow sustainably.

Taking Stock Over Time

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South Africa’s aging power plants – Graphic of the day

Eskom, which provides 95% of South Africa’s power, has an installed capacity of 42,000 MW, more than enough to handle the country’s current peak demand. However, constant demand in recent months have caused frequent power cuts from household and industrial consumers, which the company says are needed to prevent a grid collapse. Today’s graphic looks at South Africa’s aging power plants.

power plants

Would you like infographics like this on your website, blog or other social media? Contact us and visit our Reuters Agency blog for insights and discussions on the changing media industry.