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A U.S. District Court jury on Thursday found Cox Communications, a telecom company, liable for the piracy infringement of more than 10,000 pieces of music, awarding $1 billion in statutory damages to the plaintiffs Sony Music, Universal Music Group, Warner Music Group and EMI, according to Billboard.

Why it matters via Axios' Ina Fried: In general, it has been individuals not internet service providers that have been held liable for piracy. "[S]imilar lawsuits ... have been filed against Charter, Charter subsidiary Bright House Networks, RCN, and Grande Communications," The Verge writes.

Context: The plaintiffs filed the lawsuit in 2018, accusing Cox of pretending not to notice pirates, even after the company learned of its customers acts of infringement.

Details: The court found Cox guilty of infringement claims on 10,017 pieces of work and fined the company $99,830.29 per musical work.

What's next: Cox intends to appeal the case, per a statement the company put out, The Verge notes.

Go deeper: AT&T cuts off some customers' service in piracy crackdown

Go deeper

Biden taps Brian Deese to lead National Economic Council

Brian Deese (L) in 2015 with special envoy for climate change Todd Stern (C) and Secretary of State John Kerry (R). Photo: Mandel Ngan/AFP via Getty Images

President-elect Joe Biden announced Thursday that he has selected Brian Deese, a former Obama climate aide and head of sustainable investing at BlackRock, to serve as director of the National Economic Council.

Why it matters: The influential position does not require Senate confirmation, but Deese's time working for BlackRock, the world's largest asset manager and an investor in fossil fuels, has made him a target of criticism from progressives.

Felix Salmon, author of Capital
34 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

1 hour ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.