Business

In Battle Over Johnson’s Baby Powder, Asbestos Opens a New Legal Front

[ad_1] The memos were concise and direct.An executive at Johnson & Johnson said the main ingredient in its best-selling baby powder could potentially be contaminated by asbestos, the dangerous mineral that can cause cancer. He recommended to senior staff in 1971 that the company “upgrade” its quality control of talc.Two years later, another executive raised a red flag, saying the company should no longer assume that its talc mines were
Business

What Is Talc, Where Is It Used and Why Is Asbestos a Concern?

[ad_1] Nearly 12,000 women have sued Johnson & Johnson, with most claiming the talc in its well-known product Johnson’s Baby Powder caused their ovarian cancer. They now have a new potential legal front. In a recent case, a group of plaintiffs argued that the talc was contaminated with asbestos, a carcinogen considered unsafe at any level of exposure. A jury agreed with them, and awarded them $4.69 billion in damages
Business

Star Economist at Harvard Faces Sexual Harassment Complaints

[ad_1] Dr. Fryer began sending her text messages that “quickly veered into flirtatious and sexual overtures,” according to her complaint, which has been reviewed by The Times, along with text messages that the two exchanged. He invited her to see him socially, and she initially agreed, but became uncomfortable as he pushed her to spend more time with him away from the lab.In her first month, she made visits to
Business

Big Swings in Stock Market Are at Their Highest Level Since 2011

[ad_1] Volatility is back.Stocks across Wall Street are enduring one of the most prolonged periods of turbulent trading of the past decade. So far this year, there have been 12 instances of the S&P 500 moving at least 3 percent from its intraday low to its high, according to data from Howard Silverblatt, senior index analyst for S&P Dow Jones Indices. Four of those swings were greater than 4 percent.This
Business

Apple Will Update iPhones in China to Avoid a Ban on Sales

[ad_1] Apple said it would update the software of iPhones in China to try to resolve a legal dispute that threatens to stop the company from selling older iPhones in the country.Apple and its longtime chip supplier, Qualcomm, have been fighting in court over Apple’s use of Qualcomm’s technology. On Nov. 30, a Chinese court ruled Apple must immediately stop selling seven older iPhone models in China because it infringed
Business

Education Dept. Will Cancel $150 Million in Loan Debt After Judge’s Order

[ad_1] The Education Department is wiping $150 million in federal student loans off the books, and has begun the process of informing thousands of borrowers that they no longer owe the government money because the schools they attended shut their doors.The loan forgiveness, announced this week, applies to about 15,000 borrowers as federal education officials begin to carry out new rules that they fought in court for more than a
Business

What’s knocked US markets off course?

[ad_1] Image copyright Getty Images Image caption Are US stock markets entering a darker period? Just a few months ago, US financial markets seemed headed for a third year in a row of hefty increases.But shares have tumbled since October, retreating to lower levels than at the start of the year. That decline continued on Friday, as weak economic data in Europe and China sparked a late afternoon sell-off, sending
Business

The Year of Reckoning at CBS: Misconduct Allegations and Attempts to Cover Them Up

[ad_1] In the past 13 months, CBS has undergone a companywide reckoning in the wake of the #MeToo movement that has stretched from its morning show to its prime-time lineup, its news division to its executive suite. Three powerful men at the company — Leslie Moonves, its chief executive; Charlie Rose, its morning show anchor; and Jeff Fager, the executive producer of “60 Minutes” — have all lost their jobs
Business

How a National Security Investigation of Huawei Set Off an International Incident

[ad_1] It was a message that federal authorities had grown accustomed to hearing: The global bank HSBC belatedly realized it had been processing financial transactions that might have run afoul of American law.HSBC had repeatedly been penalized for helping clients launder money. Now, though, there was a different problem. From 2009 to 2014, HSBC helped the Chinese telecommunications giant Huawei move money in Iran, in breach of United States sanctions.
Business

The Weekly Standard, Pugnacious to the End, Will Cease Publication

[ad_1] Sold in 2009 to Mr. Anschutz, The Standard remained influential. But the Trump phenomenon posed a challenge. Originally denounced by Republican thought leaders like Mr. Kristol, who declared himself a supporter of the “Never Trump” movement, the president has since been embraced by his party — and by right-wing news outlets that are thriving with a diet of pro-Trump coverage.The Weekly Standard took a different tack. The editors supported