Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Nvidia Develops New Location-Verification Technology for AI Chips 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Westinghouse Electric Co. is appealing a court decision that dismissed its lawsuit against Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Corp. (KEPCO) regarding nuclear plant exports. The case delves into intellectual property rights and U.S. export controls in the nuclear energy sector.
The U.S. District Court for the District of Columbia deemed that Westinghouse did not possess a private cause of action. Therefore, it lacked the authority to pursue legal action against the two South Korean state-run companies.
Westinghouse's president of Energy Systems, David Durham, clarified that the court's decision pertained to export control enforcement being the responsibility of the U.S. government. He stated that Westinghouse intends to appeal the ruling. The lawsuit primarily stems from a disagreement over using Westinghouse's intellectual property outside South Korea.
The court's decision, however, does not impact the ongoing arbitration proceedings involving KEPCO/KHNP's alleged unauthorized transfer of Westinghouse's intellectual property outside Korea, the company clarified. Westinghouse filed the suit to prevent the Korean companies from disseminating technical information on reactor designs to Poland and other countries under U.S. export control regulation "Part 810."
The defendants argue that the Atomic Energy Act does not provide for "private" enforcement, with exclusive authority granted to the attorney general. Part 810 is specifically designed to implement the act. The lawsuit has sparked a debate over whether U.S. export control regulations should apply to South Korea's export of domestically mastered reactors, which were initially developed with U.S. technological assistance.
The district court's ruling has led the American energy firm to appeal, seeking further legal recourse against the Korean companies. This case could have significant implications for future collaborations and the transfer of intellectual property in the nuclear power industry. Westinghouse's lawsuit reflects an ongoing international legal battle, highlighting the intricate relationship between intellectual property rights and export control regulations in the nuclear energy sector.
Photo: Lukáš Lehotský/Unsplash
