Sacklers reaped up to $13 billion from OxyContin maker, U.S. states say
OxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company’s controlling Sackler family, according to U.S. states opposing efforts to halt lawsuits alleging the company and its owners helped fuel the U.S. opioid epidemic.
PG&E says it has $34.45 billion in debt financing for reorganization
PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion for a planned Chapter 11 bankruptcy reorganization, countering a group of noteholders that has proposed its own reorganization plan for the California power producer.
U.S. agency reviews claims 2,000 Teslas should have been recalled
U.S. regulators said on Friday they were reviewing claims that Tesla Inc should have recalled 2,000 of its electric cars in May instead of issuing a software upgrade to fix a potential defect that could have resulted in battery fires.
UAW sees ‘good progress’ on key issues to try to resolve GM strike
The United Auto Workers union said on Friday it had made progress on some key issues as it works to try to reach a contract with General Motors Co to resolve a nearly three-week-old strike that has idled 48,000 workers.
‘Goldilocks’ jobs data propels Wall St. to best day since August
Wall Street surged on Friday after moderate jobs growth in September offered relief from a spate of dismal economic data this week that has rankled markets and fueled concerns that the world’s largest economy may be sliding into a recession.
With economic signals mixed, Fed policymakers still divided
Last month’s slowdown in U.S. jobs growth may be a sign weakness in manufacturing is spreading to the broader economy, or it could simply reflect an expected downshift in a fundamentally healthy labor market.
Oil settles up as U.S. unemployment rate drops, but crude ends week down 5%
Oil prices rose about 1% on Friday as an increase in U.S. jobs eased some financial market concerns that a slowing global economy could dent oil demand, but crude fell more than 5% on the week, its second consecutive weekly decline.
Tesla automated parking problems seen liability of app ‘driver’ for now
Tesla Inc owners summoning their driverless cars in parking lots are likely liable for crashes, lawyers said after a series of internet videos showed problems with cars running new software.
Spain says it will respond with strength to new U.S. tariffs
Spain has summoned the U.S. ambassador in Madrid to express its complete rejection of any new U.S. tariffs on European Union goods and will press for strong counter measures if they are confirmed, the acting government said on Friday.
U.S. unemployment rate hits 3.5%; job growth moderate
The U.S. unemployment rate dropped to near a 50-year low of 3.5% in September, with job growth increasing moderately, suggesting the slowing economy could avoid a recession for now despite trade tensions that are hammering manufacturing.
