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On September 18, Bloomberg reported on the 17th that a Spirit Airlines passenger plane had an "uncomfortably close encounter" with Air Force One, the plane carrying President Trump, on the 16th. The report said that Trumps plane was en route to London when it encountered the Spirit Airlines plane over New York City. The two planes were approximately 10 to 13 kilometers apart, about to exceed the safe distance limit, and their flight paths intersected. A recording of an air-to-ground conversation cited in the report showed that the air traffic controller urgently called out to the pilot of the budget airliner, asking him to adjust his course, but the pilot did not respond in time. The air traffic controller then reminded the pilot, "Pay attention to the 747 a few miles away. I believe you can recognize it." Because the pilot did not respond in time, the air traffic controller also scolded the pilot, "Be careful, stop playing with your iPad!"Futures data from September 18th showed a significant downward pressure on copper prices, likely driven by risk aversion ahead of the Federal Reserves interest rate meeting. With expectations of a rate cut materializing and the Feds overall neutral stance, copper prices retreated from their highs during the US trading session. The Fed cut rates as expected, but Powell, in a post-meeting statement, stated the move was a risk management decision, adding that he saw no need for a rapid rate adjustment. While global raw material tightening has eased, supply-side pressures have yet to materialize. Demand for end-consumption remains uncertain, along with the macroeconomic environment. In the short term, copper prices are looking for a breakout driver after hitting the upper limit of volatility, with the market fluctuating between "recession" and soft landing scenarios. The September Fed meeting was uneventful, and while a major upward macro driver has yet to materialize, the long-term supply-demand imbalance remains the primary concern. For now, high volatility is likely to persist until real conditions improve. Trading remains cautious regarding changes in demand and the overseas macroeconomic environment.On September 18th, Meta Platforms (META.O) announced the launch of a new generation of Ray-Ban smart glasses, with significantly longer battery life and 3K video recording capabilities. The technical name of this new pair of glasses is Ray-Ban Meta Gen 2, with a starting price of US$379. At the same time, Meta also launched its first glasses with a built-in display. The latest model is Meta Ray-Ban Display, with a starting price of US$799. The glasses have a built-in screen in the right lens, which can display text messages, video calls, turn-by-turn map navigation, and visual query results of Meta AI services. These glasses also introduce a new control system. Although users can still operate them by swiping along the frame like previous models, the main interface is controlled by a wristband worn on the hand that recognizes gestures. At the same time, Meta also announced the launch of Oakley Vanguard smart glasses, which are targeted at athletes.Meta Platforms (META.O) announced the establishment of Meta Horizon Studio.Meta Platforms (META.O): Ray-Ban Display smart glasses start at $799 and will be available starting September 30.

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

Charlie Brooks

Apr 20, 2022 10:04

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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).

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