companies

At Supreme Court: Can oil companies be forced to pay for climate woes?

The Supreme Court will open its new term Monday by hearing arguments on whether the oil and gas industry may be forced to pay damages for the scorching heat waves, wildfires and droughts that are blamed on climate change.

It’s a momentous question the justices have put off deciding for nearly a decade — and may do so again.

California joined more than two dozen blue states and municipalities in 2023 when it sued the five largest oil companies, alleging “decades of deception” over the danger of a warming climate.

They have “privately known the truth for decades but have fed us lies and mistruths to further their record-breaking profits at the expense of our environment,” California Atty. Gen. Rob Bonta said.

View of fire and smoke at the Chevron Refinery in El Segundo

Fire and smoke rise at the Chevron Refinery in El Segundo in October 2025.

(Robbin Goddard/Los Angeles Times)

Such climate-change lawsuits were patterned after the mass claims against the tobacco and opioid industries. Both were accused of concealing the dangers of their very profitable products.

But the climate suits have stalled. Judges have been divided over whether these potentially huge claims should be decided in federal or state court, and if so, under what law.

Last year, Boulder County, Colo., won a 5-2 ruling in the state Supreme Court that allowed its 2018 suit to proceed as a claim of a public nuisance, an unjust enrichment or a civil conspiracy. These are referred to as “common law” claims that are long-standing and traditional but do not rely on a measure approved by the Legislature.

The Colorado judges also said the climate-change suits are not “preempted” or blocked by federal anti-pollution laws because the suit for damages did not regulate greenhouse gas emissions.

The dissenters said the state court was giving Boulder a “green light to act as its own republic” to punish the Exxon Mobil Corp. for the impact of “global climate change.”

Appealing to the Supreme Court, the oil companies sounded the same theme.

“Boulder, Colorado cannot make energy policy for the entire country,” they said. A ruling for the county would “authorize all 50 states and tens of thousands of municipalities” to ask their local juries to “impose ruinous liability” on the fossil fuel industry, they told the court.

The Trump administration joined in support of the industry’s appeal.

“Our federal system would disintegrate if each state could tackle inherently national or international problems by forcing its regulatory prescriptions on the other 49,” the administration’s lawyers wrote.

In February, the justices voted to hear the case and decide whether federal law blocks state law claims for the “effects of interstate and international greenhouse-gas emissions.”

The court scheduled the case of Suncor Energy and Exxon Mobil vs. Boulder County as the first of the new term.

Legal experts say the industry’s claim to be shielded by federal law is weak.

UCLA law professor Alejandro Camacho described the “preemption arguments as the latest and perhaps most ambitious effort to weaponize federal law to prevent polluters and fraudsters from paying for the harms they cause.”

Neither the Constitution nor the Clean Air Act provides such a shield, he said.

Legal experts on the other side question the notion that a public nuisance can be defined so broadly to include both the sale of a legal product and the impact on carbon pollution, much of it coming from China and India.

The outcome in the Supreme Court remains in doubt.

Supreme Court Associate Justices Samuel Alito, Clarence Thomas and Brett Kavanaugh share a laugh

Supreme Court Justice Samuel Alito, left, shown with Justices Clarence Thomas and Brett Kavanaugh in 2025, withdrew from involvement in the climate case being argued Monday, when the court term begins.

(Chip Somodevilla / Getty Images)

Last week, Justice Samuel A. Alito, a reliable conservative, announced he was withdrawing from the case. He did not say why, but he owns stock in other oil companies that could be affected by the court’s decision.

A broad ruling for Boulder would send a shock through the fossil-fuel industry and clear the wave of climate-change suits to proceed in state courts.

The industry may turn to Congress. Republicans in the House and Senate have introduced bills that would shield energy companies from such liability claims.

Similarly, a broad ruling shielding the oil companies probably would block all of the climate change suits, including California’s.

The justices may opt out of ruling, however.

When they granted review of the case, they asked the lawyers on both sides to weigh in on whether the high court had “jurisdiction” to decide the Boulder case.

Usually the U.S. Supreme Court reviews only final judgments handed down by state courts, and the Boulder case did not result in a final ruling.

And without Alito, the court could split 4 to 4.

A decision based on a tie vote would affirm Boulder’s early stage victory but would not set a precedent that would govern other cases.

In its new term, the court also will hear major cases on immigration and guns.

Two of the cases test the Trump administration’s strict deportation policies. One denies bond hearings to people who entered the country illegally and may be deported.

In the past, the government usually offered bond hearings to those who could be held for months or even years while their claims were pending, so long as they could show they were not a flight risk or danger to the public.

But the Trump administration said it plans to detain tens of thousands of such persons indefinitely, even if they have no criminal record and pose no risk.

Government lawyers pointed to a provision of the 1996 immigration law that said people who entered the country illegally “shall be detained.” Previous administrations applied the mandatory-detention rule only to migrants who entered the U.S. illegally and were arrested near the border.

A refinery in Carson in 2024.

A refinery in Carson in 2024.

(Michael Blackshire/Los Angeles Times)

On Thursday, the court announced it will hear arguments on the mandatory detention policy, likely to be scheduled for January.

The other case involves so-called “third-country removals.”

The administration is determined to deport immigrants who have “final orders of removal,” many of whom have criminal records. But in some cases, they may not be sent back to their country of origin.

The policy of sending them to a third country has been condemned as harsh and cruel. Thousands of these people have been flown to impoverished countries that are dangerous and where they may be subjected to abuse.

The administration says it seeks assurances from those countries that the deported persons will not be not be abused or persecuted, but it refuses hearings for individuals.

U.S. District Judge Brian Murphy in Boston has ruled these deportees are entitled to a “meaningful notice” of where they are being sent and “meaningful opportunity” to contest this if they have a reasonable fear they will face persecution and torture.

Trump administration lawyers filed emergency appeals at the Supreme Court to set aside Murphy’s orders. They argued that the judge had gone beyond his authority, and the court’s conservatives agreed.

In December, however, the court will hear arguments from both sides on what the law calls for in such deportation cases.

Meanwhile, on Dec. 2, the court will hear a potential landmark on gun rights and and decide whether states may prohibit possession and sale of semiautomatic AR-15 rifles.

California and 11 other blue states have adopted such laws, often in response to mass shootings.

Gun rights advocates say these rapid-fire rifles are among the most popular weapons nationwide and should be protected as lawful under the 2nd Amendment’s right “to keep and bear arms.”

After turning away cases for a decade, the justices voted to hear 2nd Amendment challenges to the laws in Cook County, Ill., and the state of Connecticut.

Source link

OpenAI CEO: Tech companies don’t ‘have all the answers’ on AI policy | United Nations

Open AI’s CEO has called for international coordination to address potential risks posed by artificial intelligence (AI). Sam Altman’s remarks come as Australia’s government reveals OpenAI’s AI agents hacked the country’s healthcare data tracking website.

Source link

Arab News | Kingdom seeks to attract AI companies with computing capacity, capital, market access

SAN FRANCISCO: Saudi Arabia is building an integrated model to attract leading artificial intelligence companies and help them expand globally, Communications and Information Technology Minister Abdullah Al-Swaha said in Silicon Valley on Friday.

Speaking at the fourth edition of the Frontier Leaders Forum 2026, held under the theme “AI Forward: A Global Frontier,” Al-Swaha said the Kingdom’s approach was centered on providing AI companies with three key resources: computing capacity, capital and access to customers.

Al-Swaha said the Kingdom aimed to build on that experience and attract more global AI companies. (SPA)
Al-Swaha said the Kingdom aimed to build on that experience and attract more global AI companies. (SPA)

He cited Grok as an example of this approach, highlighting Saudi Arabia’s partnership with US AI company xAI and Saudi AI company Humain to deploy Grok in the Kingdom and develop large-scale AI computing infrastructure.

Al-Swaha said the Kingdom aimed to build on that experience and attract more global AI companies, the Saudi Press Agency reported.

Saudi Arabia is working with the private sector to develop more than 14 gigawatts of computing capacity, he said, providing infrastructure for advanced AI companies while helping reduce operating costs and improve efficiency.

Al-Swaha also highlighted the Kingdom’s expanding use of generative AI, AI agents and augmented-reality applications across sectors including healthcare, government services, transportation and logistics. (SPA)
Al-Swaha also highlighted the Kingdom’s expanding use of generative AI, AI agents and augmented-reality applications across sectors including healthcare, government services, transportation and logistics. (SPA)

Humain is developing a range of AI infrastructure and platforms in the Kingdom, including AI cloud and high-performance computing services designed to support training, fine-tuning, inference and other AI workloads.

Al-Swaha also highlighted the Kingdom’s expanding use of generative AI, AI agents and augmented-reality applications across sectors including healthcare, government services, transportation and logistics.

He said Saudi Arabia would continue working with Silicon Valley around talent, technology and trust while providing the computing capacity, customers and capital needed to help the next generation of AI companies scale internationally.

Al-Swaha held a series of meetings during his visit with technology and investment executives to discuss expanding AI investment in the Kingdom, developing advanced models and applications and integrating them with infrastructure and computing capabilities being developed by Humain.

He met General Catalyst’s CEO Hemant Taneja to discuss expanding the investment firm’s AI and advanced-technology activities in Saudi Arabia, enabling its portfolio companies to develop and deploy applied AI solutions and using Humain’s computing capabilities to accelerate implementation in priority sectors.

A further meeting with Velaura AI’s co-founder and CEO Rajiv Khemani focused on integrating energy-efficient computing technologies. (SPA)
A further meeting with Velaura AI’s co-founder and CEO Rajiv Khemani focused on integrating energy-efficient computing technologies. (SPA)

Al-Swaha also met Arcee AI’s founder and CEO Mark McQuade to discuss expanding the use of the company’s Trinity open and enterprise models and deploying them across Humain’s infrastructure.

He held talks with Engramme’s co-founder and CEO Gabriel Kreiman on AI memory and continuous-learning applications designed to allow organizations to build models that learn from their own data, knowledge and operating environments.

Infrastructure was another focus of the meetings. Al-Swaha met Supermicro’s founder and CEO Charles Liang to discuss AI factory solutions, including integrated systems, liquid cooling and high-density architectures aimed at improving energy efficiency and supporting large-scale AI data centers.

He also met Upscale AI’s CEO Barun Kar to discuss high-performance AI networking and improving connectivity between computing accelerators, memory and storage to maximize the use of computing resources.

A further meeting with Velaura AI’s co-founder and CEO Rajiv Khemani focused on integrating energy-efficient computing technologies into Humain’s infrastructure and supporting the expansion of AI applications and autonomous systems.



Source link

Arab News | Qiddiya City signs MoUs with 5 leading travel and tourism companies

Qiddiya City has announced the signing of memoranda of understanding (MoUs) with five major travel and tourism service providers: Al Faris International Travel and Tourism, Travel Destinations Solutions, Al Matar Commercial Services Company, AlMosafer Travel and Tourism Company, and Fursan Travel and Tourism Company.

The agreements form part of a strategic direction aimed at expanding Qiddiya City’s network of partnerships in the travel and tourism sector, strengthening its readiness to welcome visitors, and developing more integrated pathways for accessing its diverse destinations and experiences from within the Kingdom and abroad, SPA reported.

The MoUs aim to establish shared frameworks for cooperation with a select group of travel and tourism service providers, contributing to the development of more integrated and flexible solutions for the visitor journey; from planning and booking, through travel and arrival arrangements, to enjoying Qiddiya City’s experiences more smoothly and efficiently.

Through these partnerships, Qiddiya City will leverage the specialized expertise, booking infrastructure, and commercial networks of these travel companies. The joint focus will be on delivering integrated and flexible solutions across every stage of the visitor journey, from initial planning and booking to travel arrangements and arrival.

These MoUs reinforce Qiddiya City’s ongoing commitment to build quality partnerships with key players in the tourism and travel ecosystem, and form part of its future plans to develop integrated tourism solutions that enhance the readiness of its destinations to welcome visitors from within the Kingdom and abroad.

These partnerships also contribute to expanding the scope of cooperation with sector partners and providing more flexible and efficient options for the visitor journey, supporting the company’s objectives in establishing Qiddiya as a global destination that brings together entertainment, sport, and culture, offering inspiring experiences built on the concept of “Power of Play.”

This article was first published on Asharq Al-Awsat.



Source link

Before Mark Walter’s companies faced inquiries, he kept a low profile

A few months after Mark Walter became the chairman and majority owner of the Dodgers, he was told a fan in one of Dodger Stadium’s upper decks was upset about a mix-up with his tickets.

On most days, that would be an issue for an usher to handle. Not on this day.

Walter and team president Stan Kasten decided to address the problem, climbing the narrow stairwell to the top level where they found the fan and listened to his complaint.

“Obviously the guy was floored just to see me, let alone to see Mark,” Kasten said. “Mark, he’s incredibly comfortable around people. Not just his peers, but average fans. Because he considers himself an average fan.”

The Dodgers’ billionaire owner, hardly an average fan, is under intense scrutiny these days, following the sale of his controlling interest in the Lakers and a federal investigation into his business dealings. The drama has come as a surprise to some who know Walter, who has earned respect for his financial acumen and, despite his purchases of high-profile sports teams, has tended to dodge publicity.

He put together the ownership group that bought the Dodgers in 2012. Since the purchase, the team has played in five World Series, winning three, and finished first in the National League West 12 times in 14 seasons. It’s the greatest sustained run of excellence in baseball in more than a generation.

CEO and Owner Mark Walter of the Los Angeles Dodgers waves to the crowd

Walter waves to the crowd during the Dodgers’ ring ceremony in March.

(Jessie Alcheh/MLB Photos via Getty Images)

If the Dodgers win a third straight World Series this fall, they will become the first team to three-peat this century. And much of the credit for that would go to Walter, who has funded a front office that consistently has outspent the rest of Major League Baseball, signing seven players to contracts worth more than $2 billion combined in the last six years alone.

Now Walter faces questions about his future owning the Dodgers. Last month, his companies became the focus of two federal inquiries and a Delaware insurance regulatory review.

He is helping pay off some of his companies’ loans and sold the Lakers at a record valuation of $12.5 billion, a deal Walter’s holding company, TWG Global, says was not forced by the inquiries. Still, the sale raised questions about whether he will sell his ownership stakes in other sports properties, including English soccer club Chelsea, the Cadillac Formula One racing team, the WNBA’s Sparks and the Professional Women’s Hockey League.

Walter declined to comment for this article.

Kasten insists Walter has no plans to divest from the Dodgers. “The sports portfolio is going to remain intact,” Kasten said. “It’s important to Mark. I can’t tell you how important the Dodgers are to him.”

Still, Kasten acknowledges the decision to sell the Lakers to former Disney chief executive Bob Iger and venture capitalist Joshua Kushner just 14 months after agreeing to buy the team “was not a planned thing,” either.

Los Angeles Dodgers owner Mark Walter hoists the World Series trophy

Walter hoists the World Series trophy next to MLB Commissioner Rob Manfred last November.

(Rob Tringali/MLB Photos via Getty Images)


Like most of the middle-class kids in the class of 1978 at Jefferson High in Cedar Rapids, Iowa, Walter worked in high school.

“He pumped gas and he played golf,” recalled Cathy Boland Polito, Walter’s date for the senior prom who is now a retired medical technologist living in Oro Valley, Ariz.

Walter hardly stood out in his graduating class of about 350 students. He was athletic but not a stud. He was a good student, especially in math, but not a nerd.

“He was friendly. He was nice,” Polito said. “Everybody sort of knew him.”

MILWAUKEE, WISCONSIN - OCTOBER 14: (L-R) Los Angeles Dodgers Owner.

Walter talks with Dodgers president Stan Kasten during the playoffs last year. “I can’t tell you how important the Dodgers are to him,” Kasten says.

(Michael Reaves / Getty Images)

Walter went to Creighton University , where he studied accounting and business while playing intramural sports and participating in the philosophy society. Three years later, he earned a law degree from Northwestern.

Walter met his wife, Kimbra, in Chicago, where they raised their daughter, Samantha.

After a decade split between a Chicago law firm and First Chicago Capital Markets, a financial services and securities brokerage, Walter founded an investment firm, Liberty Hampshire Co., in 1996. While there he met J. Todd Morley, who connected him with the Guggenheim family fortune. The introduction quickly led to the formation of Guggenheim Partners, an investment and advisory financial services firm that works with insurance services, among other assets, and one that has a Wall Street reputation for being low-key but aggressive.

Before the COVID-19 pandemic closed Guggenheim’s offices, the lobby of the firm’s Chicago headquarters on the 49th floor of the AT&T Center boasted one of Monet’s “Water Lilies” paintings, which hung behind the receptionist’s desk inside a glass case with an alarm. A Picasso brightened another office upstairs.

From left, new Los Angeles Dodgers owners and Guggenheim Baseball Management partners

Walter with Guggenheim Baseball Management partners Peter Guber, left, Stan Kasten and Magic Johnson at Dodger Stadium in 2012 after the group bought the Dodgers for $2 billion.

(Damian Dovarganes / Associated Press)

A company insider not authorized to speak publicly told The Times in 2012 that Walter was a disciplined, focused and careful investor.

“He is a guy with one of the great financial minds of our time,” the person said.


For Walter, 66, who grew up playing youth baseball about 50 miles from the Iowa cornfield that became Kevin Costner’s “Field of Dreams,” that financial success was all well and good. But the longtime Chicago Cubs season-ticket holder really was a die-hard baseball fan whose dream was to own a sports franchise.

Walter first explored a purchase of the Houston Astros, who eventually were sold to Houston businessman Jim Crane for $615 million ahead of the 2012 season. So Walter pivoted and formed Guggenheim Baseball Management, a group that included Kasten, Lakers Hall of Famer Magic Johnson, movie producer Peter Guber and investors Bobby Patton and Todd Boehly, to buy the Dodgers for $2.15 billion, a record at the time, in March 2012. Part of the money Walter invested in the deal came from the insurers he controlled, although that deal was vetted by state insurance regulators.

MLB engineered the sale of the Dodgers after previous owner Frank McCourt filed for bankruptcy.

“The market drove the price,” Walter told The Times after the sale closed, calling the investment “a multigenerational thing my daughter’s granddaughters will own.” Walter’s daughter, who grew up joining family trips to Los Angeles for Dodgers games, is a marketing manager at TWG Global.

1

President Joe Biden (C) holds the jersey given to him by Los Angeles Dodgers Chairman Mark Walter

2

Dodgers pitcher Clayton Kershaw, President Donald Trump, and Dodgers Owner and Chairman Mark Walter pose with a jersey

1. WASHINGTON, DC – JULY 02: U.S. President Joe Biden (C) holds the jersey given to him by Los Angeles Dodgers Chairman Mark Walter during an event with the 2020 World Series champions in the East Room of the White House on July 02, 2021 in Washington, DC. The Dodgers defeated the Tampa Bay Rays to win the championship series at the end of an abbreviated season due to the coronavirus. (Photo by Chip Somodevilla/Getty Images) (Chip Somodevilla / Getty Images) 2. WASHINGTON, DC – APRIL 07: (L-R) Los Angeles Dodgers pitcher Clayton Kershaw, U.S. President Donald Trump, and Los Angeles Dodgers Owner and Chairman Mark Walter pose with a jersey presented to Trump as he hosts the 2024 World Series champions in the East Room of the White House on April 07, 2025 in Washington, DC. The Los Angeles Dodgers defeated the New York Yankees with a 7-6 victory in Game 5. (Photo by Kevin Dietsch/Getty Images) (Kevin Dietsch / Getty Images)

Today, the team is the most lucrative in the sport and is on pace to become just the second this century to draw more than 4 million fans in consecutive seasons. The Dodgers could be sold for a valuation of $10 billion to $13 billion — at the higher end, three times as much as the record sale price for a major league team — an industry source told The Times on the condition of anonymity.

Through it all, Walter mostly has shunned attention. The exception is participating in on-field championship celebrations and joining the team for trips to the White House during the Trump and Biden administrations.

His smooth run was interrupted during the Dodgers’ run to the 2024 World Series when Walter suffered a stroke that kept him from the victory celebration. His recovery reportedly was arduous; Walter struggled to speak clearly for months and didn’t return to public view until the Dodgers’ season-opening series in Japan the following spring.

Walter didn’t publicly step down from any roles after the stroke, holding on to control of a vast portfolio. Since buying the Dodgers, he has invested in European soccer, women’s hockey and basketball, squash and auto racing. He also bought several historic buildings in the resort town of Crested Butte, Colo., where he and his philanthropist wife own a home. In 2013, the couple purchased the Wild Oak Plantation, a 17,000-acre wildlife preserve in northeast Florida, where the Walters now spend most of their time.

Kimbra has served on the boards of Chicago’s Lincoln Park Zoo, OneGoal nonprofit and Goodman Theatre and is active in the family’s charitable organization, TWF Causes, which focuses on social impact and conservation work, including owning or supporting several major conservation and private reserve properties in Africa.

The family has a limited political footprint, with Walter donating to the Democratic National Committee and the campaigns of then-presidential candidate Barack Obama and then-Chicago mayoral candidate Rahm Emanuel. The majority of their donations, however, run through their family foundation and the Dodgers Foundation.

“For us, my wife and I, and all of my partners believe that corporations have to be corporate citizens, and individuals who benefit from them, or who have built them, need to give back,” Walter told ESPN soon after buying the Dodgers. “You can’t take it with you, and you ought to do something philanthropic with it.”

But while he’s put money into charitable projects, he’s invested his heart and soul in the Dodgers, Kasten said.

“He cares deeply about it,” the Dodgers president said. “He’s living through every play, every out, every at-bat.”


However much longer Walter remains invested in the Dodgers — financially, at least — could come down to math.

Justice Department prosecutors, the Securities and Exchange Commission and a Delaware insurance regulator are investigating whether Walter funneled as much as $21 billion from the portfolios of two insurance companies he owns into private credit for loans to other companies he also controls while reporting just a fraction of the loans’ value. The Wall Street Journal and the Athletic reported Walter used billions of dollars of those insurance premiums to buy sports teams.

Such “related party transactions” are legal, within limits, but are required to be reported to guard against conflicts of interest and to protect clients.

In Walter’s case, the related-party loans f initially were reported at between $1 billion and $1.4 billion when the true total actually was between $16 billion and $21 billion. The reclassification meant the affiliated investments jumped from 2% of one insurer’s portfolio to about 40%, according to Fitch Ratings.

No formal charges have been filed, and TWG Global, the multinational holding company led by Walter, is cooperating in the investigation. Walter has declined to be interviewed or to respond to written questions about the investigation, but his representatives have strongly denied any improper behavior, describing reports of the probe as “substantial speculation and misinformation” advanced by “unnamed sources and self-serving interests.”

“It does not inspire confidence to know that this kind of wild understatement happened,” said Andrew Granato, a law professor at the University of Texas at Austin who specializes in corporate finance and insurance. “It also doesn’t inspire very much confidence in the system of insurance regulation we have, that there could be this big of a mess that was not caught for years.”

Walter hired veteran Goldman Sachs lawyer David Markowitz to be his chief legal officer and reportedly is exploring the sale of his 12.8% stake in the Chelsea soccer club to Clearlake Capital, a Santa Monica-based private-equity firm whose Puerto Rican-born co-founder, José E. Feliciano, recently bought the San Diego Padres.

A source close to Walter not authorized to discuss it publicly told The Times he has an interest in selling Chelsea if the terms are right but insisted there is no desire to sell the Sparks, the PWHL, his investment in professional squash or, more prominently, his stake in the Dodgers.

While Kasten and TWG Global officials insist the Dodgers aren’t for sale, uncertainty likely will linger at least until all investigations are completed.

Times staff writer Mirjam Swanson contributed to this report.

Source link