Corporate round-up

The US Supreme Court has ruled that a 1986 global settlement of asbestos-related claims against Johns Manville Corp shields insurer Travelers from newly filed claims against the manufacturer. The 7-to-2 decision reverses an appeal court ruling that may have left Travelers exposed to new lawsuits filed in 2002. Under the global settlement, Travelers agreed to contribute $500m towards asbestos claims against Johns Manville.