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Johnson & Johnson split the carcinogenic liability and filed for bankruptcy to avoid huge compensation
Johnson & Johnson is using the bankruptcy court to settle legal liability related to his talc products, putting a new subsidiary under Chapter 11 protection of the US bankruptcy law. The new company, LTL Management LLC, filed for bankruptcy in North Carolina on Thursday. In court documents, the company listed assets of up to $10 billion and liabilities of up to $10 billion. Johnson & Johnson itself did not file for bankruptcy. Michael Ulmann, executive vice president of Johnson & Johnson, said in a statement: "We have taken these actions to make the parties involved in the cosmetic talc case understand the truth." Although we
Boeing Co 737MAX's first criminal lawsuit: former chief technology pilot charged with fraud
A former chief technology pilot of Boeing Co has been accused of deceiving federal regulators in the evaluation of the company's 737 MAX aircraft to help the company save money, the Justice Department said on Thursday. Mark Faulkner, 49, has been charged with conspiring to deceive Boeing Co's airline customers in the United States to save Boeing Co tens of millions of dollars. According to the indictment, Faulkner provided the Federal Aviation Administration (FAA) with "grossly false, inaccurate and incomplete information about the maneuverability Enhancement system (MCAS), a new part of Boeing 737 MAX flight control."
Us homebuilder confidence Index fell to a 13-month low in August
The confidence index of US homebuilders fell to a 13-month low in August because of high prices and costs and persistent supply shortages. Data released by the National Association of Home Builders (NAHB) / Wells Fargo & Co on Tuesday showed that the index of builders' confidence fell for the third month in a row, to 75 from 80 in July, the biggest decline since April 2020. Economists expect the median to be flat at 80. Although the recent drop in the price of building materials such as wood is good news for builders, some buyers still do not enter the market because of strong demand and low inventories. NAHB said that with supply chain constraints
The biggest increase in US manufacturing output in four months was boosted by the auto industry
Us manufacturing output rose at its fastest pace in four months in July, rebounding above pre-epidemic levels, indicating that manufacturers are struggling to address supply chain disruptions and supply shortages. Data released on Tuesday showed that manufacturing output rose 1.4 per cent in July from a month earlier; it was revised down 0.3 per cent in June. Overall industrial output, including mining and utilities, rose 0.9 per cent in July. The median expected by economists is 0.7% month-on-month growth in manufacturing output and 0.5% month-on-month growth in industrial output. Although the results included a surge in car production, the increase in production for the month was quite extensive. Solid business spending, steady spending
JPMorgan Chase & Co expects the UK to raise interest rates for the first time six months ahead of schedule due to strong employment data.
JPMorgan Chase & Co raised expectations of the timing of the Bank of England's possible rate hike, saying the strength of the UK labour market could prompt the central bank to act in the second quarter of 2022. Economist Allan Monks said the first rate hike of 15 basis points to 0.25% would come six months earlier than he had expected, after which the Bank of England would raise interest rates every six to nine months. He made the announcement after official figures showed record wage growth and job openings. "demand for net new jobs is strong, and this is in the face of labor shortages," Monks week
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