EUR/USD 1.14101
-0.110%
Gold 3971.63
-1.119%
Oil 70.107
-0.239%
USD/JPY 162.127
0.120%
GBP/USD 1.32395
-0.135%
GBP/JPY 214.653
-0.007%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Bank of Japan: New board member Ayano Sato will hold a press conference at 8:00 GMT (16:00 Beijing time).As of 8:30 AM Beijing time, spot platinum was up 0.02% and spot palladium was down 0.14%.On June 30th, former Bank of Japan executive director Kenzo Yamamoto stated, "The Bank of Japan is currently in a position where it needs to act quickly." When asked whether the central bank would raise interest rates again in December, as most economists surveyed predicted, Yamamoto said, "Given the current level of monetary easing, the next rate hike is likely to occur before then." Yamamoto pointed out that the banks underlying inflation gauge (excluding special factors such as fresh food and government subsidies) has averaged around 3% over the past four years, well above the central banks 2% target. However, Japans key inflation gauge—the core consumer price index excluding only fresh food—remained at 1.4% in May, mainly due to measures introduced by Prime Minister Sanae Takaichi to alleviate cost-of-living pressures. The Bank of Japan recently stated that price trends remain slightly below 2%. "I would be concerned if the Bank of Japan claimed that its underlying inflation gauge failed to reflect price trends," Yamamoto said. "The Bank of Japan needs to shift its policy focus to curbing inflation."Samsung Electronics is currently up 2%, and SK Hynix is up 1%.June 30th - The British Retail Consortium (BRC) reported that UK food inflation has fallen to its lowest level in 15 months, the latest sign of easing cost pressures that could prevent the Bank of England from raising interest rates. Data released on Tuesday showed that UK food prices rose 2.4% in early June, down from a 2.7% increase the previous month, mainly due to lower inflation for fresh food. Overall retail price increases remained at 1.2%. BRC Chief Executive Helen Dickinson said, "Thanks to a bumper harvest and intense market competition, retailers have helped keep prices for summer treats like strawberries and ice cream low." Private sector surveys and official data showed that overall inflation in the UK economy had been more stable than previously expected before the initial peace agreement between the US and Iran led to a drop in oil prices. Therefore, the market no longer fully expects the Bank of England to raise interest rates this year, whereas previously it had anticipated three to four hikes of 25 basis points each.

Attorney General Martin O'Malley Announces $276 Million Opioid Settlement With J&J, McKesson, And Endo

Charlie Brooks

Apr 20, 2022 10:04

j2.png


McKesson will provide $141 million to the state's efforts to tackle the opioid problem, while Johnson & Johnson and Endo will contribute $70.3 million and $25 million, respectively, according to Alabama Attorney General Steve Marshall. Additionally, the three corporations will pay $40 million in legal expenses.


The state had charged McKesson with failing to prevent opioid diversion for criminal reasons and the drugmakers with false marketing techniques that minimized the addiction dangers associated with their medications. Both businesses have denied any wrongdoing.


J&J, the maker of Duragesic and Nucynta, claimed it no longer offers prescription opioids in the United States and that its previous marketing activities were "appropriate and acceptable."


McKesson and Endo did not reply to calls for comment immediately.


Alabama was one of four states that rejected to join a $26 billion national settlement of opioid lawsuits reached in February by McKesson, two other major U.S. distributors, and J&J. [L1N2V01ZA]


"These three settlement agreements reaffirm my decision to withdraw from the national opioid settlements, which failed to sufficiently recognize the specific suffering suffered by Alabama residents," Marshall said in a statement.


Alabama would get a larger payment from McKesson and a speedier payment from J&J, Marshall said, compared to what the state would have gotten under the national settlement.


Alabama would have earned $115 million over 18 years from McKesson and $70.3 million over nine years from J&J under the national settlement structure. According to Marshall, the revised deal requires J&J to make full payment within a year, while McKesson will do so within nine years.


The state was on the point of bringing McKesson to trial, with opening arguments slated on Monday until the two parties agreed to a postponement.


Alabama's agreement comes amid a flood of state government lawsuits and settlements over the United States' opioid problem, which has resulted in more than 500,000 overdose fatalities over the last two decades, according to the United States Centers for Disease Control and Prevention.


West Virginia announced a $99 million settlement with Johnson & Johnson on Monday and is currently prosecuting drugmakers Teva Pharmaceutical Industries (NYSE:TEVA) and AbbVie's Allergan (NYSE:AGN) subsidiary.


In March, Florida achieved opioid settlements totaling more than $878 million with CVS Health Corp (NYSE:CVS) and three pharmaceutical firms, and on April 11, the state opened a trial against drugstore chain Walgreens Boots Alliance (NASDAQ:WBA).

Suggestion