Johnson & Johnson ordered to pay $55 million in talc-powder trial
NEW YORK (Reuters) – Johnson & Johnson was ordered by a U.S. jury on Monday to pay $55 million to a woman who said that using the company’s talc-powder products for feminine hygiene caused her to develop ovarian cancer.
Ackman defends Valeant, hints at more changes
BOSTON/NEW YORK (Reuters) – Billionaire investor William Ackman on Monday mounted a vigorous defense of Valeant Pharmaceuticals , ruling out any sale of the drug company’s “crown jewel” assets but saying price cuts and even a new name may be in its fut…
Hedge fund leader Dalio calls Bridgewater culture ‘opposite of a cult’
LOS ANGELES (Reuters) – Ray Dalio, the billionaire founder of Bridgewater Associates, has defended his firm’s unconventional management style – based on employees openly challenging each other and giving themselves continuous performance feedback – say…
Ex-girlfriend can get video deposition of Sumner Redstone in upcoming trial: judge
LOS ANGELES (Reuters) – Media mogul Sumner Redstone can be deposed at his home in a short videotaped session ahead of a trial to resolve his ex-girlfriend’s lawsuit over his mental competence, a California judge ruled on Monday.
Canada for first time says it actively wants to help Bombardier
OTTAWA (Reuters) – The top Canadian official probing a request by planemaker Bombardier Inc for aid to support its new CSeries passenger jet on Monday indicated for the first time that Ottawa actively wanted to help the company, highlighting the numbe…
Chanel winning fight against luxury grey market: executive
HAVANA (Reuters) – Chanel, the world’s second largest luxury brand, said on Monday its efforts to curb the grey market have been successful and are helping boost revenue in China despite weaker overall demand for luxury goods.
Wall St. rebounds; Nasdaq breaks seven-day losing run
(Reuters) – U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and weakness in the dollar eased worries about earnings for multinationals.
AIG profit misses again as weak hedge fund returns weigh
(Reuters) – American International Group Inc , under fire from investors to improve its performance, reported a lower-than-expected profit for the third straight quarter as poor returns from hedge funds hurt its investment income.
Puerto Rico government bank misses payment, talking with creditors
SAN JUAN/NEW YORK (Reuters) – Puerto Rico’s Government Development Bank, the main funding source for the U.S. commonwealth’s public agencies, said it reached a tentative restructuring deal with some major creditors hours after declaring it would skip a…
Exclusive: Tribune Publishing No. 2 shareholder supports sale
(Reuters) – Oaktree Capital Group LLC , the second largest shareholder in Tribune Publishing Co , wants the U.S. newspaper company to explore a sale, people familiar with the matter said on Monday.
