Purdue Pharma creditors’ committee urges one mass settlement for all opioid lawsuits

A committee guiding OxyContin maker Purdue Pharma’s bankruptcy has suggested other drugmakers, distributors and pharmacy chains use Purdue’s bankruptcy proceedings to settle more than 2,000 lawsuits seeking to hold the drug industry accountable for the national opioid crisis. The committee of unsecured creditors said in a letter sent Sunday to the parties and obtained by The Associated Press that the […]

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Boeing survey found 1 in 3 employees felt ‘undue pressure’ over safety approvals

U.S. lawmakers probing the 737 Max jet crisis are ratcheting up scrutiny of Boeing Co. leaders as new details point to management pressure on engineers and pilots in its commercial-aircraft unit. Investigators for the House Transportation and Infrastructure Committee looking into the design and certification of the 737 Max have received details of a three-year-old internal Boeing BA, -6.79%  survey […]

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GM workers to remain on picket line until new contract is approved

DETROIT — Striking General Motors workers will stay on the picket lines for several more days until they vote on a tentative contract agreement with the company. Factory-level officials from the United Auto Workers union voted to recommend the agreement to members at a daylong meeting in Detroit on Thursday. But they also voted not to return to factories unless […]

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Jio, Bharti spar again on IUC

Row follows TRAI deciding to review scrapping of charge A fresh war of words has broken out between Reliance Jio and Bharti Airtel over the former charging users for voice calls to other networks following TRAI’s decision to review the scrapping of interconnect usage charge from January 2020. On Tuesday, Mathew Oommen, president, network, global strategy and service development, Reliance […]

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JPMorgan profit rises 8% to top estimates

JPMorgan Chase & Co. said Tuesday that third-quarter profit rose 8% and topped expectations. The nation’s largest bank reported a profit of $9.08 billion, or $2.68 a share. Analysts polled by FactSet had expected earnings of $2.45 a share. A year earlier, the bank reported a profit of $8.38 billion, or $2.34 per share. Revenue rose 8% to $29.34 billion […]

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Mobile tariffs unsustainable, need to go up: Airtel India CEO

Airtel MD and CEO for India and South Asia, Gopal Vittal also snubbed Reliance Jio’s move to charge 6 paise per minute for voice calls made by its users on other networks Telecom operator Bharti Airtel on Tuesday said rates of mobile services are unsustainable and need to be increased. Airtel MD and CEO for India and South Asia, Gopal […]

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China has already upped its purchases of U.S. agricultural products, according to Trump

President Donald Trump said Sunday that China has begun purchasing U.S. agricultural products, just two days after the two countries reached a tentative pause in their trade war. “China has already begun agricultural purchases from our great patriot farmers & ranchers!” the president tweeted. Nigam Arora: What individual investors can do after China and Wall Street won this round of […]

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Shep Smith abruptly calls quits to 23-year run at Fox News

Shepard Smith, whose newscast on Fox News Channel seemed increasingly an outlier on a network dominated by supporters of President Trump, abruptly quit after working at Fox since it started in 1996. Smith said at the end of his daily newscast on Friday that he had asked the network to let him out of his contract and it had agreed. […]

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Auto sales slump continues

PV sales drop 23.69% in September; ‘green shoots seen’ Passenger vehicle sales in the country continued to decline for the 11th straight month in September 2019, even as the auto industry on Friday said it has started seeing a reversal in consumer sentiment during the last few days of the month owing to the beginning of festival season and high […]

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Aramco IPO prospectus expected in late October

Saudi Arabia’s preparations to list Saudi Arabian Oil Co. are in full swing, with the company expected to publish its prospectus before the end of the month, people familiar with the matter said, paving the way for a final decision soon after on whether to proceed with the float. Aramco, as the oil giant is known, is in the final […]

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