Affirmative action came under attack at the U.S. Supreme Court as Chief Justice John Roberts took the lead in questioning whether universities should continue to give special preference to racial minorities.
Beam Inc., the U.S. maker of Jim Beam, Canadian Club and Maker’s Mark, was sued for $100 million by an importer that claims Beam and its Cooley Distillery unit broke a contract to supply it with Michael Collins Irish Whiskey.
Google Inc. executive Mike Steib is courting customers such as Progressive Corp. and touting tools that let marketers create the snazzy, interactive ads that rival Apple Inc. has been using to snatch mobile-ad business.
Vinson & Elkins LLP advised Energy Transfer Partners LP, the pipeline company run by billionaire Kelcy Warren, which agreed to buy Susser Holdings Corp. for $1.8 billion. Gibson Dunn & Crutcher LLP advised Susser. Bingham McCutchen LLP acted as tax counsel to Energy Transfer.
For all the concern about another recession, the outlook for America’s economy is looking brighter in the bond market, where investors are accepting the lowest yields since 2004 to lend companies money.
Companies have more incentive to reward shareholders at the expense of bondholders as the benefits of maintaining high ratings disappear, signaling two years of improved creditworthiness may be peaking.