Amid charges that banks manipulated Libor, the benchmark used to price an estimated $800 trillion of loans and derivatives, financial firms are looking for an alternative short-term rate, says the Wall Street Journal.
The Justice Department supports a lawsuit against the Washington, D.C., subway system over its refusal to run religious ads.
"I have decided not to contest certain allegations and agree to resign," Judge Elizabeth W. Johnson said in a letter. "This is so voters can make a reasoned and informed choice about who should be their next judge without distractions about me."
The first lawsuit has been filed over California’s deadly mudslides this month, naming as a defendant local utilities company Southern California Edison.
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