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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."
Vice chairman of the Federal Reserve: agrees with Powell's view of reducing the size later this year
Richard Clarida, vice chairman of the Federal Reserve, said on Friday that he preferred to start scaling back the central bank's monthly bond purchases later this year. Mr Clarida said: "We did test to slow down purchases in December and we want to see significant further progress towards our goal, and I agree with Powell. I think we do meet this standard in terms of inflation. " "We have made progress in the labour market. In July, we don't think significant progress has been made, but employment growth has averaged 800000 a month in the past three months.
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