Dec 10, 2019

Exxon prevails over New York in climate change lawsuit

Amy Harder, author of Generate

Photo: Spencer Platt/Getty Images

ExxonMobil won a closely watched fraud lawsuit filed by the New York attorney general alleging the oil giant misled investors on its handling of climate-change costs, a New York judge ruled Tuesday morning.

Why it matters: It’s a key victory for both Exxon and the sector writ large amid years of liberal politicians and environmentalists waging various legal battles trying to exact blame for climate change.

  • Yes, but: Don’t expect this to deter other lawsuits against Big Oil companies on the grounds of climate change, several which are still proceeding under different arguments and lawsuits.

The big picture: The Massachusetts AG recently filed a similar lawsuit and at least Democratic presidential candidates, Elizabeth Warren and Bernie Sanders, have said they would pursue legal battles against big oil companies related to climate change.

Read the ruling:

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Trump to end Hong Kong’s special trade status

President Trump. Photo: Win McNamee/Getty Images

President Trump announced on Friday that the U.S. would be fundamentally changing longstanding policies toward Hong Kong as a result of Chinese encroachment on the city's autonomy.

Why it matters: Trump said he would be effectively ending the special trade status that has allowed Hong Kong to flourish as a gateway to the Chinese market. That leaves an uncertain future for businesses that operate in Hong Kong, not to mention the city's 7 million residents, and could be met with reprisals from Beijing.

Updated 1 hour ago - Politics & Policy

Police officer in George Floyd killing charged with third-degree murder

A protester with a sign with George Floyd's last words. Photo: Stephen Maturen/Getty Images

Derek Chauvin, the Minneapolis police officer involved in the killing of George Floyd, was charged Friday with third-degree murder and manslaughter, according to Hennepin County Attorney Mike Freeman.

The state of play: Freeman said that the delay in Chauvin's arrest, which came four days after Floyd's death on Monday, was due to the need to collect sufficient evidence — and that it was "by far the fastest" his office had charged a police officer. He added that he also anticipated charges against the other three officers involved in Floyd's arrest and death, but refused to elaborate.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 5,871,347 — Total deaths: 362,554 — Total recoveries — 2,463,332Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 1,731,035 — Total deaths: 102,201 — Total recoveries: 399,991 — Total tested: 15,646,041Map.
  3. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
  4. Supreme Court: Senators Grassley, Leahy urge Supreme Court to continue live streams post-pandemic.
  5. Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
  6. Business: Fed chair Powell says coronavirus is "great increaser" of income inequality.
  7. 🚀 Space: How to virtually watch SpaceX's first crewed launch Saturday.