High Court backs Fifth Third employees in retirement fund suit
The Supreme Court ruled unanimously for Fifth Third Bank employees in a case over retirement funds heavily invested in the bank's stock. The decision centers on whether fund managers may divert investments when they suspect stock overvaluation amid rising subprime loan defaults. The article also notes Malaysia Airlines improving slightly four months after Flight 370, Barnes & Noble planning a split, and Circuit City founder Richard Sharp's death.
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Supreme Court rules Aereo violates Copyright Act
The Supreme Court, in a 6-3 decision, ruled that Aereo’s streaming of over‑the‑air TV to subscribers breaches the Copyright Act, effectively treating the service as a cable provider. The ruling upholds broadcasters’ claims the startup evades copyright protections and expands the media industry’s legal footing.
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Screen Actors Guild-American Federation of Television and Radio Artists
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U S economy shrank 2.9 percent in first quarter
Washington reports a 2.9 percent annual decline in the January-March quarter driven by severe winter, weak health care spending, and a larger trade deficit. Analysts expect a rebound this quarter with growth around 3 percent or more as inventories and demand improve.
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Sal Guatieri
BMO Capital Markets
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PNC Financial
Google IO highlights Android Auto and wearables
Google kicked off its I O conference in San Francisco with a broad push beyond phones. It showcased Android Wear for smartwatches and Android Auto for cars plus Android TV with voice search. About 6,000 attendees watched a three hour keynote punctuated by protests and coverage of Google’s transit buses controversy. The event signals Google’s shift from advertising to a wider ecosystem as mobile devices overtake desktops.
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