Latest news with #LCR
Boston Globe
27-06-2025
- Politics
- Boston Globe
Supreme Court curbs injunctions but other ‘pathways' remain to defend birthright citizenship, legal experts say
The ruling 'does not address the merits of the Trump administration's unprecedented claims regarding who is entitled to birthright citizenship,' he said. 'At the very outset of the opinion, the [majority] court makes clear that its decision is about scope of relief. It does not touch on the merits of the argument. On that score, every federal court that has decided this issue going back 150, years and more, has made clear that any child born in the United States is a United States citizen.' He added: 'Nothing in today's Supreme Court ruling does anything to disturb that. So that's the one important takeaway from this decision.' Advertisement Lawyers for Civil Rights filed a lawsuit Jan. 21 seeking to block Trump's order on behalf of two expectant mothers and two nonprofit groups, A second suit Advertisement Two cities, San Francisco and Washington, D.C., joined the states in the suit. US District Court Judge Leo Sorokin issued an universal injunction in response to the lawsuits. But that ruling by Sorokin was invalidated by the Supreme Court decision on Friday. In a statement Friday, Campbell decried the majority ruling in the birthright case. 'I am proud to defend birthright citizenship and the rights of those born in the United States, which are guaranteed by the 14th Amendment,' Campbell, a Democrat, said in a statement. She said she's 'confident our case will be successful, and the President's blatantly unconstitutional executive order will ultimately be struck down.' While Friday's ruling is disappointing, Campbell said, 'we look forward to demonstrating why nationwide relief in this case is necessary, as the court has invited us to do. We will once again demonstrate what this country has known to be true since the Civil War: citizenship should not, cannot, and must not depend on the state where a baby was born.' Sellstrom said the majority's decision has potentially beneficial impacts for LCR's clients and others likely to be impacted by the Trump administration's argument that birthright citizenship is not a constitutional right enjoyed by anyone born in the US. In one footnote, he said, the majority explicitly wrote that the Administrative Procedures Act (APA) which allows judges to strike down executive actions, is not impacted by the decision on universal injunctions. Sellstrom said LCR's challenge to the administration's executive order included a claim under the APA and that remains an active part of the lawsuit pending before US District Court Judge Leo Sorokin. (The majority did knock down Sorokin's universal injunction.) Advertisement He also stressed that class action lawsuits remain a viable alternative to universal injunctions. A class action benefits all, even those noted named plaintiffs, he said. 'It certainly makes it more difficult to have the birthright citizenship principle that the Trump administration wants to put forth taken down universally and quickly,' Sellstrom said. 'But what it does on the procedural level is it leaves open multiple pathways to achieve the same result of a universal injunction, but via different means.' He said LCR is reaching out to its clients and is reviewing, in detail, the Supreme Court ruling before deciding their next steps. But, he was certain LCR will continue to challenge the administration's targeting of birthright citizenship. 'Today's Supreme Court decision certainly makes that more difficult, but again, there are multiple pathways to achieve that same vindication,' he said. 'It will just take a different pathway than the one that we have drawn so far.' In February, Sorokin released a 31-page ruling issuing the nationwide preliminary injunction that had been sought by attorneys general from Massachusetts and 17 other states and immigration advocates. In the ruling, Sorokin wrote that his decision 'is based on straightforward application of settled Supreme Court precedent reiterated and reaffirmed in various ways for more than a century by all three branches of the federal government.' He noted that the 'loss of birthright citizenship — even if temporary, and later restored at the conclusion of litigation — has cascading effects that would cut across a young child's life (and the life of that child's family), very likely leaving permanent scars.' The court's failure to resolve whether birthright citizenship remains a valid constitutional right will cause 'chaos' for millions of people, especially for parents whose children are born after the administration issued its executive order, Daniel Kanstroom, a Boston College Law School immigration law expert. Advertisement He said that by focusing its attention to the issue of universal injunctions alone, the Supreme Court's majority has created massive uncertainty for families, for lawyers, for federal judges, for immigration law judges that will take years to untangle. 'I think that that was possibly the worst imaginable case the court could have chosen to deal with the problem of universal injunctions,' he said in a telephone interview Friday. 'It's going to be a huge mess. It's going to cause tremendous fear and uncertainty, probably for hundreds of thousands, if not millions, of people.' He said the administration's executive order applies to any child born after this February. But that deadline and the order itself does not provide any specifics on who will be impacted – is it just the child born of a mother unlawfully present but where the father is unknown and possibly a citizen, for example, he said. 'You have all kinds of situations, but all these people are now in a precarious moment in terms of the citizenship of their children. And that's particularly problematic because if you have children who are living here and saw they were citizens, and now are not sure,' he said. 'All these people are now in a precarious moment in terms of the citizenship of their children.' He said the issue decided by the court - universal injunctions - is a valid legal issue. But by intertwining it with the 14th Amendment, the majority missed a major opportunity to protect constitutional rights. Advertisement 'It's hard to understand how the Supreme Court is really doing its job,' he said. 'What's going to be created now is just chaos and fear and a staggering amount of work for the district courts.' This is a developing story and will be updated. Information from earlier Globe reporting was used in this account. John R. Ellement can be reached at
Yahoo
20-05-2025
- Business
- Yahoo
Emirates NBD Bank gets in-principle nod to create Indian subsidiary
The Reserve Bank of India (RBI) has issued 'in-principle' approval to Emirates NBD Bank PJSC, allowing the establishment of a wholly owned subsidiary (WOS) in India. This decision is part of the 'Scheme for Setting up of WOS by foreign banks in India.' Currently, Emirates NBD operates in India through branches located in Chennai, Gurugram, and Mumbai. The approval permits the bank to convert its existing branches into a WOS. Following this approval, the RBI will evaluate the bank's application for a banking licence under Section 22 (1) of the Banking Regulation Act, 1949. The issuance of the licence will depend on the bank meeting the conditions set forth by the RBI as part of the 'in-principle' approval process. Media reports indicate that Emirates NBD and others are interested in acquiring a majority stake in IDBI Bank, as the government initiates its disinvestment process, reported Business Standard. The government is offering a 30.48% stake, while the Life Insurance Corporation will sell 30.24%. The RBI is assessing the suitability of potential investors, as noted by the finance ministry in February. In April this year, the RBI released final guidelines for the Basel III Liquidity Coverage Ratio (LCR) framework, incorporating some relaxations from the draft proposal presented last July. A key change involves the classification of retail deposits facilitated by internet and mobile banking (IMB). In February this year, Australian fintech firm Findi's Indian subsidiary, Transaction Solutions International (TSI), received approval from RBI to acquire Tata Communications Payment Solutions (TCPSL), which operates the white-label ATM network Indicash. "Emirates NBD Bank gets in-principle nod to create Indian subsidiary" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
28-04-2025
- Business
- Mint
Britannia, Tata Consumer to HUL: 14 Nifty FMCG stocks rally up to 30% from March lows. What's behind the surge?
FMCG stocks today: Shares of Godrej Consumer Products, Tata Consumer Products, Britannia Industries, and other FMCG stocks have maintained their stellar run for the second consecutive month in April, building on notable gains recorded in March. For instance, the Godrej Consumer Products share price has gained 9.25% so far in April and risen 30% from its March lows to trade at ₹ 1,266 apiece, while Tata Consumer's share price has also jumped 15.35% in the current month and rallied 24% from March lows. Britannia Industries' share price has also surged 28% from its March lows, while other stocks such as Marico, United Spirits, Patanjali Foods, Nestle India, Varun Beverages, Emami, Colgate-Palmolive, ITC, United Breweries, Radico Khaitan, and Hindustan Unilever have rallied up to 24% from their March lows. The strong reversal in these stocks has also propelled the Nifty FMCG index to gain 6% so far in April and 13% from March lows. Meanwhile, overseas investors slowed down their selling spree, offloading ₹ 2,789 crore worth of Fast-Moving Consumer Goods (FMCG) stocks in March, compared to ₹ 6,991 crore worth of stocks sold in February, according to NSDL data. Investor sentiment has turned favourable towards more domestically focused stocks amid heightening global trade tensions, along with improving liquidity conditions, multiple rate cuts by the RBI, and income stimulus measures, which analysts believe could potentially boost domestic consumption in the current fiscal year. In addition, reasonable valuations have attracted value buyers to step in, resulting in strong gains for FMCG stocks on Dalal Street. The consumer goods stocks, known for their defensive nature, witnessed heavy selling pressure between October and February amid rising input costs, falling volumes, and weak demand from urban consumers, but analysts expect these challenges to recede in FY26E. In the Union Budget 2025-2026, the government has shifted its focus from capex to consumption for the first time in a decade, increasing the income tax exemption limit to ₹ 12 lakh in the Union Budget 2025. In line with the budget, the RBI, under the new governor, cut the repo rate for the two consecutive times and been taking various measures such as easing LCR requirements, aiming to boost consumption — a major driver of the Indian economy, prompting analysts to turn bullish on consumer goods makers. In its latest note, global brokerage firm UBS, has upgraded ratings on select group of stocks in the consumer sector—including Colgate, Trent, HUL and ITC— and retained its bullish view on other stocks such as Avenue Supermarts and GCPL as it believes the sector is poised for a strong rebound in the current fiscal year. The FMCG sector's share price weakness has been exacerbated by cyclical headwinds to demand and margins in recent years, but UBS expects these to recede in FY26E. As per the brokerage, the recovery is expected to be driven by earnings growth, attractive valuations, and the resolution of structural challenges. The brokerage expects earnings growth to turn around in FY26 and continue recovering in FY27 as the base normalizes and demand gradually picks up. Compared with 1% median earnings growth in FY25, UBS forecasts 13% growth in FY26 and an earnings CAGR of 12.8% between FY25 and FY27. According to the brokerage, weak demand and input cost pressures weighing on margins have already been priced in, given the sharp correction in the sector since the October 2024 peak. Valuations are now back in a reasonable range, with any earnings rebound potentially serving as a key catalyst. The brokerage recent discussions with industry experts indicate rural consumer sentiment is strong, and the demand outlook is promising. It believes urban mass market demand is recovering, with inflation falling from around 7% in FY23 to 3% as of March 2025, while premium segments continue to perform well in urban markets. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions. First Published: 28 Apr 2025, 01:36 PM IST
Yahoo
26-04-2025
- Business
- Yahoo
GCCA introduces global Low Carbon Ratings system for cement and concrete
The Global Cement and Concrete Association (GCCA) has unveiled the Low Carbon Ratings (LCR) for cement and concrete, a global rating system aimed at reducing the carbon footprint of construction materials. The LCR is designed to guide customers in choosing construction materials, employing an AA to G scale for comparison. The LCR system is inspired by existing energy performance evaluation tools, including the EU's Energy Performance Certificates and the US Home Energy Rating System, and offers a 'simple, transparent, and adaptable' approach for stakeholders in the construction sector. Builders, architects, governments, planners, and consumers can now make more informed decisions regarding the sustainability of the materials used. This new carbon rating system for cement and concrete is stated to provide 'consistency and comparability'. It features a simple visual graphic to denote the carbon efficiency of a product. The LCR is intended to complement Environmental Product Declarations (EPDs), which are verified by third parties. Countries have the option to adopt the global ratings as they stand or tailor them to align with local carbon accounting standards. GCCA chief executive Thomas Guillot said: 'Cement and concrete are the foundations of modern life - from the buildings we live and work in, to the roads we travel, and the infrastructure that supports clean water and green energy. As global demand for sustainable construction grows, the need for greater transparency around the carbon footprint of construction materials is more critical than ever.' 'Our Low Carbon Ratings system supports more sustainable procurement practices and will empower the entire value chain to accelerate decarbonisation. 'With this rating system in place, governments, policymakers and the private sector can now prioritise lower carbon cement and concrete in the procurement process, which will in turn further stimulate the industry's focus on decarbonising these essential building materials.' "GCCA introduces global Low Carbon Ratings system for cement and concrete" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Barnama
24-04-2025
- Business
- Barnama
World's first Low Carbon Ratings system for Cement and Concrete launches
LONDON, April 24 (Bernama) -- The Global Cement and Concrete Association (GCCA) announces the launch of Low Carbon Ratings (LCR) for Cement and Concrete - a first-of-its-kind transparent global rating system that will enable cement and concrete to be identified based on their carbon footprints. The ratings system is designed to help customers prioritise sustainability when selecting construction materials by using a clear and intuitive AA to G scale. Inspired by well-known appraising schemes such as the EU's Energy Performance Certificates and the US Home Energy Rating System, the LCR offers a simple, transparent, and adaptable tool that helps builders, architects, governments, planners, and consumers everywhere in the world to make more informed and sustainable choices.
