Ex-UBS Trader Tom Hayes Manipulated Libor to Boost Profit, SFO Says
Ex- UBS Group AG star trader, Tom Hayes, agreed to manipulate and rig Libor to dishonestly boost profits, prosecution lawyers said asking the UK's top court to reject attempts to overturn his conviction.
The Supreme Court appeal over the conviction of Hayes and ex-Barclays Plc trader Carlo Palombo for rigging Libor and Euribor will come to an end on Thursday. The judges will have to weigh whether the Britain's first and most high profile criminal trial over rate rigging was unfair.
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The Supreme Court's decision could lead to a new era of ‘reverse discrimination' lawsuits
Good morning! A Supreme Court decision yesterday on a case of workplace discrimination could have major impacts on the employment landscape and will affect HR departments across the country. In a unanimous decision, the court sided with Marlean Ames, a former Ohio state government employee who sued her employer after she was passed over for two promotions that went to gay coworkers instead. Ames argued that she was discriminated against for work opportunities because of her heterosexuality. The case first appeared in the sixth circuit court, which ruled against Ames citing the higher standard of proof for discrimination that must be met by members of majority groups, such as men, white people, or heterosexual people. That higher standard is referred to as 'background circumstances,' and plaintiffs must show additional supporting evidence that they were the victims of discrimination. But the Supreme Court's ruled that the additional burden for people from majority groups is unconstitutional, and violates Title VII of the Civil Rights Act. The decision wasn't a surprise, and had been anticipated by legal experts. But they tell Fortune that the ruling will likely lead to more reverse discrimination cases against employers in the near future. 'We should expect to see this trend continue, and see an uptick in these so-called reverse discrimination claims brought by men who are not members of historically disadvantaged groups,' Michael Steinberg, a labor and employment attorney at firm Seyfarth Shaw, tells Fortune. The case comes at a particularly fraught time when it comes to the legal landscape of the workplace in general. A combination of the Supreme Court's decision to overturn affirmative action and Trump's executive orders targeting affirmative action have made companies extra cautious about their programs and protocols around diversity initiatives. The Ames case was not centered on DEI policies, but two Supreme Court Justices, Clarence Thomas and Neil Gorsuch, specifically referenced DEI in their opinions. David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion, and Belonging at New York University, says it's the first instance, since Trump took office, that justices have put their stances around DEI in writing. And he adds it could 'encourage potential plaintiffs to see shifts in the wind and then follow them right to bring future claims.' You can read more about yesterday's Supreme Court decision here. Brit This story was originally featured on
Yahoo
an hour ago
- Yahoo
He was 20 when he was sentenced to death. Now he hopes US Supreme Court will hear his case
A man on Mississippi's death row is asking the U.S. Supreme Court to take a look at his case while he continues seeking other federal relief. Terry Pitchford, 39, was convicted of capital murder and sentenced to death in 2006 for the death of a man in a Grenada County grocery store during an armed robbery in 2004. In 2023, Terry Pitchford's conviction and death sentence were set aside and a new trial was ordered by a federal district court judge. The state appealed and the conviction and sentence were reinstated after a ruling in favor of the state by the Fifth Circuit Court of Appeals. Mississippi: Man whose death sentence was overturned in 2023 is now facing death again. Here's why Now Pitchford is hoping the nation's highest court will review his case while he also continues to work on other aspects of the case in the Mississippi Northern District of U.S. District Court. The state has until July 3 to file a brief opposing Pitchford's petition. The Supreme Court may consider Pitchford's petition at the opening conference of the October term. Pitchford is asking the Supreme Court to review his Batson claim, which refers to jury selection in which race, ethnicity or gender played a role in excluding potential jurors. During jury selection at Pitchford's trial, then-District Attorney Doug Evans "used four of his allotted 12 peremptory strikes to remove four of the five Black venirepersons provisionally seated in the jury's empaneling," court records show. Evans was accused of doing the same during the prosecution of Curtis Flowers, who stood trial six times for the murders of four people at a furniture store in Winona. The U.S. Supreme Court in 2019 overturned Flowers' conviction for the last time, with Justice Brett Kavanaugh "citing a 'relentless, determined effort to rid the jury of Black individuals,'" according to an earlier story. In Pitchford's case, during his appeal, the Mississippi Supreme Court said Pitchford should have raised objections at his initial trial if he wanted to contest the jury selection. The court's decision in favor of the state was not unanimous. Two justices disagreed with the ruling, saying "the record showed that D.A. Evans used peremptory strikes in an intentionally racially discriminatory manner," according to court documents. The federal court agreed with the dissenters and set aside Pitchford's conviction and ordered a new trial. The federal appellate court looked at the case and determined the Mississippi Supreme Court did not err when it considered the Batson claim and reinstated Pitchford's conviction and sentence. Now it will be up to the U.S. Supreme Court to weigh in, if it decides to review the case. Lici Beveridge is a reporter for the Hattiesburg American and Clarion Ledger. Contact her at lbeveridge@ Follow her on X @licibev or Facebook at This article originally appeared on Mississippi Clarion Ledger: Mississippi death row inmate asks SCOTUS for help
USA Today
an hour ago
- USA Today
The Daily Money: Is AI coming for your job?
The Daily Money: Is AI coming for your job? Good morning! It's Daniel de Visé with your Daily Money: Yes, this newsletter is still written by humans. If the job market is slowing, as many economists predict, don't blame the trend solely on uncertainty surrounding President Donald Trump's tariffs. You can also point the finger at AI. Here's how artificial intelligence is changing the hiring landscape. Can White workers claim discrimination? For decades, men, straight people and White people were often held to a higher legal standard when bringing workplace bias claims than groups that historically faced discrimination. No longer. The Supreme Court this week made it easier for members of so-called 'majority groups' to sue for discrimination by siding with an Ohio woman who claimed she twice lost jobs to lesser-qualified gay candidates because she is straight. Here's what that means for future discrimination complaints. Big Brother is watching you more than ever For decades, the government has been able to watch where you drive and where you walk. It can figure out where you shop, what you buy and with whom you spend time. It knows how much money you have, where you've worked and, in many cases, what medical procedures you've endured. But because all of those data points were scattered across dozens of federal, state and commercial databases, it wasn't easy for the government to build a comprehensive profile of your life. That's changing ‒ fast. 📰 More stories you shouldn't miss 📰 We haven't forgotten about Consumer Friday. Here are the week's top headlines. About The Daily Money Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version and explaining how everything from Fed rate changes to bankruptcies impacts you. Daniel de Visé covers personal finance for USA Today.
