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WASHINGTON (AP) — The U.S. Supreme Court has preserved an important tool used by securities regulators to recoup ill-gotten gains in fraud cases.The justices said by an 8-1 vote Monday that the Securities and Exchange Commission can seek to recover the money through a process called disgorgement.Last year, the SEC obtained .2 billion in repayment of profits from people who have been found to violate securities law.Justice Sonia Sotomayor wrote for the court that the award must be limited to no more than “a wrongdoer’s net profits."Justice Clarence Thomas dissented. 581

WASHINGTON (AP) — The Republican National Convention is aiming to recast the story of Donald Trump's presidency over its four nights of events this coming week. Trump campaign officials involved with the planning process tell The Associated Press that the theme of the convention is “Honoring the Great American Story” and will feature speakers drawn from everyday life as well as cable news and the White House. The primary aim will be to draw a stark contrast with Democratic presidential nominee Joe Biden. Trump is looking to shift the campaign away from being a referendum on a presidency ravaged by a pandemic and economic collapse and toward a choice between vastly different visions of America's future. 719

We're just a few months away from the midterm elections, and with crucial races determining the balance of power in Washington, we're taking a hard look at the issues that matter to you!Each week, we'll dive deep into a new issue—from education and immigration to gun control and jobs.This week, we’re talking trade. In order to understand the trade war, it’s important to know what tariffs are.A tariff is basically a tax thrown on something that's being imported. Say a company in Country A really wanted to sell shoes in Country B. Country B could throw a tariff on those sweet sneakers, meaning it would cost the company in Country A more money to sell them. There are essentially two types of tariffs: specific and ad valorem. The latter is a flat tax on one unit of some imported good; like a 0 tariff on each bushel of wheat. Ad valorem, which means "according to value" in Latin, is a tax based on the percentage of that good's value.So, if there's a 15 percent tariff on a type of car, the money that tariff is bringing in would rise and fall with the car's market price, but the percentage would stay the same. Nowadays, tariffs can be implemented to protect domestic companies from worldwide competition and to protect consumers for national security reasons, or in retaliation for the actions of another country.But using tariffs come with a risk. If two countries start slapping punitive tariffs on each other, it could spark a tit for tat trade war, which almost no one wants.   1523

We are pleased that @halleberry listened to the concerns of transgender people and learned from them. Other powerful people should do the same. A good place to start is by watching @Disclosure_Doc to learn about trans representation in media. https://t.co/SAxSvXxbk3— GLAAD (@glaad) July 7, 2020 303

Wednesday was the first full day of class for students at Marjory Stoneman Douglas High School since the Feb. 14 shooting killed 17 people at the Broward County school. FULL COVERAGE: Parkland school shootingSince returning to class on Feb. 28, the school had been on a modified schedule. Wednesday's classes ended at 2:40 p.m."The mood is like sad, emotional," Sebastian Benitez, a freshman at Stoneman Douglas said. "People are happy to see their friends but it’s still hard to think about all those lives that were lost.”U.S. Education Secretary Betsy DeVos was on campus meeting with students and teachers. The meeting might give her more insight as she continues her broader talks on how to prevent such a tragedy from happening again. DeVos has said she is open to allowing guns in schools but says the decision should be left to local communities.President Trump is in favor of arming teachers, saying that too many of these shootings happen in gun free zones.“A gun-free zone is, ‘Let’s go in and let’s attack, because bullets aren’t coming back at us,'” Trump said.Students at Stoneman Douglas have been vocal for change since the shooting last month. Their rallies were heard loudly and they have put pressure on lawmakers to enact gun reform during their visits to Tallahassee and during school walkouts. During a news conference, DeVos gave credit to the students for finding their voice and for taking interest in seeing what adults are going to do in response to the massacre. "People across the country in states and communities have addressed some of the concerns, some of the issues that have arisen here," DeVos said. "But we need to help elevate those opportunities and make sure people know there are solutions that can be engaged immediately."When pressed about the solutions she referenced, the secretary did not offer specifics. DeVos did however say she was looking forward to returning to the school in the future.  2033