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Companies back transgender rights in Supreme Court fight


´╗┐A coalition of 53 companies on Thursday backed transgender rights at the U.S. Supreme Court, signing on to a brief supporting a Virginia student who is fighting to use the school bathroom that corresponds with his gender identity. Among the companies participating are Apple Inc(AAPL. O), Microsoft Corp (MSFT. O) and IBM Corp (IBM. N). The court has scheduled oral arguments for March 28 on whether the Gloucester County School Board in Virginia violated a federal anti-discrimination law when it blocked Gavin Grimm, a female-born transgender high school student who identifies as male, from using the boys' bathroom. A ruling is due by the end of June.

The companies' brief says they are "concerned about the stigmatizing and degrading effects" of the policy adopted by the school board."Gender identity discrimination is a form of sex discrimination," the brief says.

Among other companies that signed on to the brief are Yahoo Inc(YHOO. O), Intel Corp(INTC. O), Amazon.com Inc(AMZN. O) and Twitter Inc(TWTR. N). Thursday is the deadline for briefs supporting Grimm to be filed.

It is uncertain whether the court will issue a major ruling in the case because the Trump administration on Feb. 22 rescinded Obama administration guidance to public schools to let transgender students use bathrooms corresponding to their gender identity. The court, which currently is one justice short, could take a cautious approach and send the case back to the Richmond, Virginia-based 4th U.S. Circuit Court of Appeals to reconsider its April 2016 ruling in favor of Grimm in light of the Trump administration's action. The underlying question is whether a federal law that bars sex discrimination in education, known as Title IX, covers transgender students.

JPMorgan expects 2017 expenses to rise about 3.4 percent


´╗┐JPMorgan Chase & Co (JPM. N) said it expected 2017 expenses to rise about 3.4 percent as the lender spends more on technology and signing up new credit card accounts. Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website.

Some investors expecting banks profits to surge have been counting on lenders to hold expenses fairly steady so that more of each additional dollar of revenue goes to the bottom line.

Target forecasts continued drop in same-store sales, shares sink Target Corp reported a steeper-than-expected decline in fourth-quarter same-store sales and said it expected sales to continue to fall this fiscal year, sending its shares tumbling 12 percent in premarket trading on Tuesday.

Samsung Group chief charged with bribery, corporate nerve center dismantled SEOUL South Korean prosecutors charged Samsung Group [SARG. UL] chief Jay Y. Lee with bribery and embezzlement on Tuesday as the top conglomerate announced the dismantling of its corporate strategy office, the latest developments in a graft scandal that has rocked the country.

Trump's 'big' spending hopes nudge world stocks higher LONDON World stocks hovered just off all-time highs and were on course for a fourth straight month of gains on Tuesday, as investors awaited a speech by U.S. President Donald Trump for signals on infrastructure spending and tax cuts.