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☆ J&J’s sweetened talc settlement still unsettling
▼ + stars: | 2023-04-04 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, April 4 (Reuters Breakingviews) - Johnson & Johnson (JNJ.N) is trying a little harder to settle claims that its talc harmed users. The tactic, known as the Texas Two-Step, creates a subsidiary under Texas law which allows what’s called non-divisive mergers. That gets it closer to a threshold that could be enough for a bankruptcy judge to approve the settlement. CONTEXT NEWSJohnson & Johnson said on April 4 that its subsidiary LTL Management had re-filed for bankruptcy in an effort to settle claims that sales of products containing talc harmed users. The new unit then declares bankruptcy, and the legal claims are settled in bankruptcy court.

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☆ Boies, co-counsel move to grab control of all private FTX cases
▼ + stars: | 2023-02-13 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Judicial Panel on Multidistrict Litigation, that the judge overseeing their Miami cases, U.S. District Judge Michael Moore, has already proven in their brand ambassador cases that he can steer FTX cases quickly and efficiently. Not everyone pursuing claims on behalf of FTX customers agrees with Boies and Moskowitz. (To be clear, these private cases are different from cases that could be brought by a court-appointed receiver or trustee in FTX’s Chapter 11 bankruptcy.) If the cases go to California, the California slate is a likelier candidate. It will be a few months before any ruling on the Boies and Moskowitz consolidation petition.

☆ We could soon be facing the biggest financial crisis in history as Republicans threaten to stop paying America's bills
▼ + stars: | 2023-01-19 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +11 min

Republicans are using the debt ceiling as leverage to achieve spending cuts on Democratic priorities. But failing to raise the debt ceiling by the summer could cause the US to default on its debt. Consequences of default are dire, and Biden has urged the GOP to not bargain with the debt limit. "Failure to raise the debt limit will not reduce our debt, but it would wreck the economy if it led to a default. "When you talk about the trillion dollar platinum coin, it sounds very silly — and it is really silly!"

☆ Has inflation finally peaked?
▼ + stars: | 2023-01-08 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But for investors, consumers and the Federal Reserve, inflation remains a major economic concern, just as it was in 2022. The hope is that inflation pressures will cool even more dramatically as the year progresses. We believe inflation peaked in June,” said Nancy Tengler, CEO and chief investment officer with Laffer Tengler Investments, in a report. Inflation impact on the Fed and housingWhat’s more, lower levels of inflation should allow the Fed to keep slowing its pace of interest rate hikes. But if inflation pressures continue to abate – and the Fed acknowledges that by pulling back on rate hikes – then the housing market may rebound.

☆ Former BlackRock stock chief Bob Doll shares his top 8 predictions for markets and the economy in 2023 — including 4 trades he thinks will outperform
▼ + stars: | 2023-01-04 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Crossmark's Bob Doll sees another lackluster year ahead for stocks. 2022 was a rough year for the stock market, with the S&P 500 closing out the year down nearly 20%. "2023 is shaping up to be another challenging year for investors," Doll said in his yearly predictions note on Tuesday. The cumulative effect of tight policy will eventually catch up to the economy this year, and send it into a mild recession, Doll believes. Finally, given the muted returns he sees this year for the broader market, Doll expects active fund managers to beat passive index funds this year.

☆ FIFA wants us to think the World Cup is about showing 'humanity can live in peace together.' It's really about money — but I'll still watch.
▼ + stars: | 2022-11-18 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +6 min

The 2022 FIFA Men's World Cup, hosted by Qatar, will begin Sunday. read a recent letter to World Cup teams signed by Gianni Infantino, FIFA's president. Telemundo's 2022 FIFA World Cup ad sales for its Spanish televising of the tournament hit "record revenue," a spokesperson said. Khalid Salman, the Qatar World Cup ambassador and a former footballer, said homosexuality is "damage in the mind" in an interview with the German broadcaster ZDF earlier this month. The 2022 World Cup is a cynical attempt at sportswashing.

☆ FTX's blowup is a turning point for Wall Street's crypto adoption journey
▼ + stars: | 2022-11-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

But first, where does Wall Street go from here? A warning sign for Wall Street to get out now before it's in too deep. Insider's Rebecca Ungarino and Danielle Walker examined what the knock-on effects of FTX's blowup mean for Wall Street's crypto plans. A key part of Wall Street's adoption of crypto was working with intermediaries bridging the gap between the two worlds. Read more on how FTX's blow up might impact Wall Street' long-term crypto plans.

☆ Meta shares pop 7% as Wall Street rallies around layoffs
▼ + stars: | 2022-11-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., speaks during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022. for a virtual future. Shares of Meta jumped more than 7% Wednesday after the company announced it will lay off more than 11,000 employees. Analysts at UBS were encouraged by Meta's announcement Wednesday and said they believe the layoffs are a clear sign that the company "gets it." The analysts reiterated their buy rating on Meta shares and said they liked Zuckerberg's comment about becoming "more capital efficient" in his employee memo. "We think Meta cost reductions – across opex and capex - signals that the company hears investors, and we think the shares can move higher," they wrote in a Wednesday note.

☆ Cramer: Meta layoffs show Mark Zuckerberg 'got religion' on costs, but he must cut more
▼ + stars: | 2022-11-09 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Jim had been calling on Meta and other tech companies for months to recognize the severity of the global macro headwinds and to reduce their costs. As a knock-on effect, this capex reduction from Meta may be causing some of the pressure we're seeing in semiconductor stocks, an area that caught a bid following Meta's initial expense guide. Reduction of annual capex by at least $5 billion; instead management guided for a $2 billion 2023 capex reduction at the high-end of its previous range, as mentioned this in more detail earlier. Management initially guided for total expenses in 2022 to be in the range of $91 billion to $97 billion. Mark Zuckerberg, chief executive officer of Meta Platforms Inc., speaks during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022.

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Republican Brian Kemp won a second term as Georgia's governor. Stacey Abrams sought to oust Kemp from office in a rematch of their 2018 gubernatorial contest. Kemp touted his conservative record as governor, while Abrams wants a new approach in Atlanta. Georgia Republican Gov. Brian Kemp, defeated Democrat Stacey Abrams in Georgia's gubernatorial election.

☆ Republican Gov. Brian Kemp and Democrat Stacey Abrams face off in the Georgia gubernatorial election, a rematch of their 2018 contest
▼ + stars: | 2022-10-31 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Republican Brian Kemp is seeking re-election to a second term as Georgia's governor. Stacey Abrams is seeking to oust Kemp from office in a rematch of their 2018 gubernatorial contest. Brian Kemp, who narrowly defeated Democrat and former Georgia House of Representatives Minority Leader Stacey Abrams in the 2018 gubernatorial race, is running for reelection in a rematch of that race. However, Kemp has also frustrated the most prominent Republican official in the country — former President Donald Trump. The former president credits his endorsement of Kemp as a turning point in boosting the now-governor in both the 2018 Republican primary and in that year's general election.

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