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Chicago Mercantile Exchange › (CME:ED.H13)

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Today's Financial News

WTO rules against China, says Beijing failed to comply with earlier ruling in steel dispute

14 hours ago

WASHINGTON (AP) — The World Trade Organization says China broke global trade rules by failing to comply with an earlier WTO ruling and continuing to impose duties on specialty steel imports. The case dates back to 2010 when China imposed duties on a high-tech specialty steel used in power plants. Saying the duties violated trade rules, the U.S. took the case to the WTO and won. Despite the ruling, China reintroduced duties on the steel in 2013. The United States went back to the WTO, saying China was not complying with the earlier decision.

Judge gives lender 60 days to exercise purchase option for former presidential yacht Sequoia

15 hours ago

DOVER, Del. (AP) — A Delaware judge has given a lender 60 days to buy the former presidential yacht Sequoia from its current owners. Designated a National Historic Landmark, the vessel now sits rotting in a Virginia shipyard amid a legal fight over what it's worth and who should pay for repairs. Because of a loan default by Sequoia Presidential Yacht Group, lender FE Partners LLC can exercise an option to purchase the yacht for $7.8 million, minus certain attorney fees and outstanding liabilities.

NY health officials pick 5 to grow, dispense medical marijuana; program begins next year

15 hours ago

ALBANY, N.Y. (AP) — Five companies have been picked by New York state health officials to operate the state's new medical marijuana program when it begins next year. Each of the groups chosen by the state will be allowed to operate up to four dispensaries that will be scattered throughout the state.

Swiss drug maker Roche being probed in Romania in wide-ranging medical corruption case

15 hours ago

BUCHAREST, Romania (AP) — Swiss pharmaceuticals company Roche confirmed Friday it is being investigated by anti-corruption prosecutors looking for evidence that drug companies offered doctors vacations and other incentives in exchange for prescribing cancer drugs. Authorities have refused to say which companies are being probed, but Romania Curata, a site that reports on corruption, said 11 companies have been targeted, including Roche Romania, GlaxoSmithKline Romania and Pfizer Romania.

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