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☆ Johnson & Johnson tries to use bankruptcy to settle talc cases for $8.9 billion
▼ + stars: | 2023-04-04 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

New York CNN —Johnson & Johnson is trying once again to use the bankruptcy courts to settle tens of thousands of cases that claim its talc products cause cancer. The pharmaceutical company is now willing to pay $8.9 billion to plaintiffs over 25 years. A previous attempt to use Chapter 11 bankruptcy protection to resolve the talc cases was rejected by an appellate court, which ruled the company couldn’t go bankrupt because it wasn’t in financial distress. Johnson & Johnson has long held that talcum powder products are safe to use. Although J&J claims it has won the majority of its talc lawsuits, juries have awarded some customers billions of dollars in damages, siding with claimants’ arguments that the company’s talc products caused their cancer.

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☆ InflaRx COVID injection gets US FDA's emergency-use authorization
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

April 4 (Reuters) - The U.S. Food and Drug Administration (FDA) on Tuesday granted emergency-use authorization to Inflarx NV's (IF0G.F) monoclonal antibody for the treatment of hospitalized COVID patients when initiated within 48 hours of receiving artificial life support. U.S.-listed shares of the German biopharmaceutical company rose almost 25% to $4.70 after the bell. The injection known as Gohibic targets a part of the immune system that is thought to play a role in the inflammation that leads to COVID-19 disease progression. Germany-based InflaRx is continuing discussions with the FDA related to the submission of an application for full approval of Gohibic in this COVID-19 indication. Reporting by Sriparna Roy in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ New Zealand ex-PM Ardern becomes trustee of Prince William's Earthshot Prize
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 4 (Reuters) - Britain's Prince William has named Jacinda Ardern, the former prime minister of New Zealand, as a new trustee for his multi-million pound environmental award, the Earthshot Prize. William, heir to throne, set up the prize in 2020 with the mission of finding solutions to the planet's biggest environmental problems through new technologies and ideas. Ardern joins Earthshot's board of trustees as it gears up to select finalists for the 2023 award. Last year, five winners were each awarded 1 million pounds ($1.24 million) at a ceremony in Boston, United States. Prince William said he was grateful that Ardern, who unexpectedly stepped down as New Zealand's leader earlier this year, was joining the team.

☆ How FDIC dropped the ball and picked up the tab
▼ + stars: | 2023-04-04 | by ( John Foley | ) www.reuters.com time to read: +7 min

NEW YORK, April 4 (Reuters Breakingviews) - Bank watchdogs don’t have a crystal ball when it comes to spotting bank runs. The FDIC is one of several agencies that watches over American banks, but it’s the one that picks up the tab when a lender fails. Gruenberg, on the FDIC board since 2005, did not support the rapid phased prototyping data project, fretting that it amounted to outsourcing supervision, according to people familiar with the situation. For all but the biggest banks, the FDIC continues to rely on quarterly snapshots known as “call reports,” and the findings of its on-the-ground inspectors. Reuters GraphicsThe death of the 2020 project – and the fact it didn’t start years sooner – reflect deeper challenges at the FDIC.

☆ Column: Electric grids need major upgrades to aid global energy transition: Maguire
▼ + stars: | 2023-03-31 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +7 min

LITTLETON, Colorado, March 30 (Reuters) - Modern electricity grids that can optimize clean power production from a constantly changing flux of renewable and fossil energy sources will play a vital role in enabling global energy transition efforts. With renewable energy supplies climbing at a record pace just as global car fleets, households and businesses supercharge electricity demand, robust grids that can bridge both sides of the energy equation will be critical. The global power sector is also a major source of carbon dioxide (CO2) emissions, and so is incompatible with international efforts to drive pollution steadily lower from all sectors over the coming decades. Many ambitious grid alteration plans are also running in to stiff opposition from powerful organisations that object to the laying of miles of new transmission lines across open areas. But if renewable energy supplies surge as expected, and if those supplies are to be made available to power-hungry customers, global grids must grow in both scale and density in every major economy - and in record time.

☆ Ukraine says athletes not allowed to compete against Russians in Paris qualifiers
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Ukrainian athletes will not be allowed to take part in qualifying events for the 2024 Paris Olympics if they have to compete against Russians, government minister Oleh Nemchinov said. Huttsait is also president of Ukraine's Olympic committee. The International Olympic Committee (IOC) issued recommendations Tuesday for the gradual return to international competition for Russian and Belarusian athletes as neutrals. The IOC is to make a separate decision on the participation of Russian and Belarusian athletes in Paris at a later date. Some federations have readmitted Russians and Belarusians in competitions but there is also considerable opposition to the IOC's plans from athletes and some European governments.

☆ North Korea executes people for South Korean videos, drugs - report
▼ + stars: | 2023-03-30 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

[1/2] A North Korean flag flies on a mast at the Permanent Mission of North Korea in Geneva October 2, 2014. REUTERS/Denis Balibouse/File PhotoSEOUL, March 30 (Reuters) - North Korea executes people for drugs, sharing South Korean media, and religious activities as it stifles its citizens' human rights and freedom, its rival, South Korea, said in a report on Thursday. "Executions are widely carried out for acts that do not justify the death penalty, including drug crimes, distribution of South Korean videos, and religious and superstitious activities." Reuters could not independently verify the South Korean government's findings but they were in line with U.N. investigations and reports from non-governmental organisations. Nearly 34,000 North Koreans have settled in South Korea but the number of defectors has fallen sharply because of tighter border security.

☆ Gen Z's desire to limit screen time leads to resurgence of 'dumb phones' in the US: 'I love how low stimulus it is'
▼ + stars: | 2023-03-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Influencers and members of Gen Z are swapping smartphones for "dumb phones" that can only call and text, CNBC reported. The trend has since expanded to influencers who are documenting their journey of winding down screen time with the use of dumb phones. "What we're trying to do with the Light phone isn't to create a dumb phone, but to create a more intentional phone — a premium, minimal phone — which isn't inherently anti-technology," Hollier told the outlet. TikToker Alex Purdy used a Light brand dumb phone for a month and shared an update with followers in January. In the video, Purdy mentioned some issues with receiving texts, but ultimately encouraged commenters to get one of their own.

☆ Hyundai and Kia thefts trend reached New York City
▼ + stars: | 2023-03-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Spikes in car thefts of certain Hyundai and Kia models, a trend that began in the American midwest and was spread by how-to videos on social media, has reached America’s biggest city. About 100 of these particularly vulnerable Hyundai and Kia vehicles were stolen in the month of December alone in New York City, according to New York City Police Commissioner Keechant Sewell. Joy rides on Tik TokThese models became the subject of a viral social media trend in which thieves filmed themselves and others stealing Hyundai and Kia vehicles and taking them for a drive. The New York thefts first began to be noticed in The Bronx, the commissioner said, but soon were also happening in other parts of the city. Hyundai and Kia operate as separate companies in the United States, but Hyundai Motor Group owns a large stake in Kia, and various Hyundai and Kia models share much of their engineering.

☆ Chile detects first case of bird flu in a human
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

SANTIAGO, March 29 (Reuters) - Chile detected the first case of bird flue in a human, the country's health ministry reported on Wednesday. The case was detected in a 53-year-old man who presented severe influenza symptoms, according to a statement issued by the ministry, but they noted the patient was in stable condition. Chile has reported cases of the H5N1 bird flu since late last year in wild animals. Earlier this year, Ecuador confirmed its first case of human transmission of bid flu in a 9-year-old girl. Global health officials have said risk of transmission between humans is low, but vaccine makers have been preparing bird flu shots for humans "just in case."

☆ Experts from Amberdata, Custodia Bank, and United States for Kraken discuss the role digital assets are going to play in the future of finance
▼ + stars: | 2023-03-29 | by ( Elizabeth Wood | ) www.businessinsider.com time to read: +4 min

Today's financial system is growing, transforming, and increasingly focused on the adoption of digital assets. Shawn Douglas, cofounder and CEO of Amberdata, said that, "Digital assets are the "financialization of the internet," citing blockchain to safeguard real-world assets and, in digital rights management (like NFTs) as examples. CEO of Custodia Bank, Caitlin Long, believes the role of digital assets exists in the payments world. There are, of course, challenges to adopting digital assets including concerns about centralized banks and government agencies. Throughout the conversation, Hirsch remained focused on the potential digital assets have to enable greater freedom globally.

☆ Peru prosecutors probe president, ex-president for alleged money laundering
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

LIMA, March 28 (Reuters) - Peruvian prosecutors are investigating President Dina Boluarte and former president Pedro Castillo for allegedly laundering money as part of a criminal organization, the attorney general's office said on Twitter on Tuesday. The probe into the alleged crimes by Boluarte and Castillo is part of an ongoing investigation into alleged campaign finance crimes committed during Peru's 2021 presidential race. Castillo was removed from office in December after attempting to dissolve Congress before an impeachment vote. Boluarte over the weekend denied receiving illegal campaign contributions and said corruption accusations were a "political maneuver" seeking to undermine her government. Boluarte is also currently under investigation for her alleged role in the deaths of protesters killed in clashes with security forces in the months after she took office.

☆ Factbox: Canada budget 2023-24: key measures and proposals
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, March 28 (Reuters) - Here are some of the key government measures and proposals outlined in the 2023-24 budget presented by Finance Minister Chrystia Freeland on Tuesday. - Dental Care expansionProposal to introduce legislation to for a new dental care plan which will provide dental care to uninsured Canadians with family income less than C$90,000 annually. - Right to repairGovernment to work toward implementing a right to repair, aimed at making it easier and cheaper to repair home appliance and electronics. - Standard charging portGovernment to explore implementing a standard charging port in Canada for phones, tablets, cameras, laptops and other electronic devices. - Clean Technology Manufacturing Investment Tax CreditProposal for a refundable tax credit equal to 30% of the cost of investments in machinery and equipment used to manufacture or process key clean technologies, and extract, process, or recycle certain critical minerals essential to clean technology supply chains.

☆ Microsoft's Charlie Bell confirms security layoffs in internal email: 'While we have restructured in some areas, we will continue to invest to grow in others.'
▼ + stars: | 2023-03-28 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +2 min

Microsoft Security boss Charlie Bell confirmed layoffs in his organization. Bell said security remains critical for Microsoft and that it will continue to grow despite cuts. Microsoft Security boss Charlie Bell confirmed layoffs on his team in an internal email viewed by Insider. In Monday's email, Bell said security remains critical for Microsoft and that it will continue to grow the organization despite the cuts. "Security remains a critical area of investment for the company and our customers, and while we have restructured in some areas, we will continue to invest to grow in others."

☆ Binance 'could be in big trouble' as the CFTC lawsuit alleges the crypto behemoth dodged regulators and breached laws
▼ + stars: | 2023-03-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +10 min

Binance is being blow-torched from all angles as US regulators close in on the world's largest crypto exchange. The CFTC sued the exchange this week for violating US financial laws, whilst some reports suggest Binance has engaged in secret fund transfers. On Monday, the Commodities Futures and Trading Commission (CFTC) sued Binance and Zhao himself, for allegedly breaching US financial laws. Following the shocking implosion of Sam-Bankman Fried's FTX exchange late last year, concerns have risen whether Binance faces similar risks. If US authorities decide the links meant the crypto exchange had control over the US platform, it could expose the company to enforcement action.

☆ North Korea's showing off an underwater nuclear attack drone it says can cause a 'radioactive tsunami,' but the threat is likely 'exaggerated'
▼ + stars: | 2023-03-28 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

North Korea has tested an underwater nuclear attack drone, similar to Russia's Poseidon torpedo. "This nuclear underwater attack drone can be deployed at any coast and port or towed by a surface ship for operation," state media boasted. "There have been signs that North Korea has been developing unmanned submarines, but we assess that they are still at an elementary level," South Korea's JCS added. "There are good reasons to maintain skepticism that North Korea will widely produce or deploy the Haeil system," he wrote in an NK Pro analysis. A screen grab shows North Korean leader Kim Jong Un inspecting nuclear warheads at an undisclosed location in this undated still image used in a video.

☆ How to become an Amazon influencer and how much the program pays
▼ + stars: | 2023-03-28 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +7 min

Here's a breakdown of how to become an Amazon influencer and how much creators earn from the program. "We are looking to [influencers] to tell us what they want and what they need," Katie Scott, director of the Amazon Influencer Program, said of the program. Amazon's Influencer Program operates as an extension of its online Associates Program, the company's affiliate-marketing program for creators, publishers, and bloggers. Read more about becoming an Amazon influencer:How much does it pay to become an Amazon influencer? The Amazon Influencer Program will occasionally run limited time incentives around new projects, the company previously told Insider.

March 28 (Reuters) - A U.S. judge on Tuesday affirmed the Boy Scouts of America's $2.46 billion settlement of decades of sex abuse claims, rejecting appeals by some of the group's insurers and abuse claimants. The Boy Scouts settlement, approved in bankruptcy court in September, was supported by 86% of abuse claimants and the Boy Scouts' two largest insurers. The Boy Scouts organization said it was "enormously grateful" to abuse survivors who spoke out about their experiences and who voted to support the settlement. The judge rejected insurers' appeals that argued the Boy Scouts organization colluded with abuse claimants to shift liability to insurers. The Boy Scouts also contributed additional insurance rights, which may be worth more than $4 billion, to the fund will pay abuse claims, according to Andrews' ruling.

After almost 40,000 asylum seekers entered Canada from the U.S. through irregular border crossings last year, the two countries revised their two-decade-old asylum pact last week to stem the flow of asylum seekers. After moving thousands of asylum seekers from Quebec to Ontario, the federal government relocated some 393 asylum seekers to the Atlantic provinces of New Brunswick, Nova Scotia and Newfoundland as of March 19, according to official data. These transfers over the past several months have been Canada's first relocations of asylum seekers, the government said. Some of the asylum seekers and advocates told Reuters there is inadequate access to legal counsel, potentially jeopardizing refugee claims. Chamagne said her three staff lawyers are trying to help 164 asylum seekers transferred to Halifax, Nova Scotia.

☆ Morning Bid: Banks are leaking money
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

There is some relief that First Citizens BancShares Inc (FCNCA.O) is in advanced talks to acquire Silicon Valley Bank (SIVB.O). There was also some talk the Federal Reserve could expand its new lending programme for banks as another step to reassuring depositors. Money is clearly flowing out of smaller banks toward their bigger siblings and to money market funds, which have seen an inflow of more than $300 billion in the past month to a record $5.1 trillion. Capital Economics points out that deposits across all the banks have fallen by $663 billion in the past year as customers search for higher yield. Deutsche Bank's five-year CDS hit 222 bps on Friday, the highest since late 2018, while UBS CDS shot up to 139 bps.

☆ A man detained multiple times said North Korean prisons have improved over the years because the last time he was jailed he no longer had to walk on all fours
▼ + stars: | 2023-03-25 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

One expert told CNN that many released prisoners are unaware that they lived through torture. His testimony was one of many used in a report released Friday from the NGO Korea Future, which detailed torture and abuse faced by detained North Koreans. "In the past, we had to crawl with both hands and knees when we were moving, but in 2017, we could stand up and walk," the man told CNN. So they just simply thought that they were bad people and for that reason, they were being punished," Kim told CNN. In February, the UN HRC released a report on human rights that backs up many of Korea Future's findings.

☆ North Korea claims it can unleash a 'super-scale radioactive tsunami' with an underwater drone that detonates near ships or ports
▼ + stars: | 2023-03-24 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

North Korea claims it tested an underwater drone that can create a radioactive tsunami. It was designed to strike both naval assets and coastal targets, North Korean state media outlet KCNA reported. Friday's announcement was the first time that North Korea has publicly mentioned such a weapon. North Korea has in the last year aggressively ramped up its testing of long-range and intercontinental ballistic missiles. These tests have often been framed as a response to the US and South Korea for North Korea says is unprovoked aggression.

☆ A nuclear plant that leaked 400,000 gallons of radioactive water will be shut down after second incident
▼ + stars: | 2023-03-24 | by ( Erik Ortiz | ) www.cnbc.com time to read: +5 min

This second leak involved hundreds of gallons of radioactive water, according to the utility company, far less than the 400,000 gallons that was discovered leaking in late November. "I think the general public needs to be informed more about this," Megan Sanborn, 31, who lives 6 miles upstream from the nuclear plant, said. Tritium spills do happen occasionally but are typically contained within a nuclear site, according to the Nuclear Regulatory Commission. The incident comes as Xcel Energy is in the midst of seeking an operating license renewal for Monticello. At a town hall meeting over the license on Wednesday, before the latest leak was known publicly, Nuclear Regulatory Commission officials sought to allay residents' fears.

[1/3] U.S. President Joe Biden and Vice President Kamala Harris stand on stage together after delivering remarks at the DNC 2023 Winter Meeting in Philadelphia, Pennsylvania, U.S., February 3, 2023. Biden could lose crucial votes if he were to drop Harris, who is both the first Black and Asian-American U.S. vice president. While the vice president has disappointed some inside her party, Democrats see opportunity in the 2024 race. He leans on her a lot," said Cedric Richmond, a former congressman and former senior adviser in Biden's White House. "That was not her assignment," said the third former White House official, referring to reducing migrant crossings at the U.S.-Mexico border broadly.

☆ The Manhattan DA's likely case against Trump would be far from a 'slam dunk conviction'
▼ + stars: | 2023-03-23 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +8 min

New York state prosecutors have never brought an election law case involving a federal campaign, per NYT. If the DA's office brings a criminal case against Trump, it would be far from a "slam dunk conviction," one ex-prosecutor said. Among the charges Trump could face is violating New York's business records statute, which bars individuals from falsifying business records with an intent to defraud. Some legal experts have pointed out that New York has a long history of bringing felony prosecutions based on falsifying business records. If Trump is charged with falsifying business records, "expect to see this defense."

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