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US Supreme Court rejects opioid settlement that shields Sackler family
The US Supreme Court on Thursday rejected Purdue Pharma's $6 billion opioids settlement immunizing the Sackler family, which controlled the drugmaker, from future litigation. The settlement gave the families of Raymond Sackler and Mortimer Sackler protection from all future civil claims, effectively protecting their other assets from opioid-related lawsuits.
Nike shares tumble on tepid outlook as CEO eyes Olympics marketing win
Nike reported higher profits due to cost-cutting efforts Thursday, but shares fell sharply on the company's tepid outlook despite a hoped-for boost from the upcoming Olympic Games. He also vowed an impressive marketing blitz at the upcoming Olympic Games in Paris.
'Not crazy to be optimistic' on climate tech, Gates tells investors
Microsoft co-founder Bill Gates on Thursday urged investors to get behind cutting-edge climate technologies he says would drive a "green industrial revolution" and a next wave of global prosperity. - 'Green industrial revolution' - Less than a decade ago, Gates said, there was very little investor interest in climate technologies.
IMF slightly downgrades US economic forecast for 2024
The IMF said Thursday it expects the US economy to grow a bit more slowly than previously forecast, while praising the way it has remained "robust, dynamic, and adaptable to changing global conditions."
US investigative agency sanctions Boeing for discussing probe
A US investigative authority sharply rebuked Boeing for sharing details about an ongoing probe of a near-catastrophic aviation incident that were not supposed to be discussed publicly. Under the party agreement Boeing signed with the NTSB, the company is supposed to refer all comment on the Alaska Airlines probe to the agency.
'Stress test': Olive oil producers adapt to climate change
Olive oil producers are improving irrigation and seeking new varieties of olives to safeguard production as climate change upends harvests, causing prices of the staple of the Mediterranean diet to soar. This has caused prices to soar by between 50 percent and 70 percent over the past year, depending on the variety concerned.
'Not a lab experiment': climate tech CEO on green innovation
Microsoft co-founder and billionaire philanthropist Bill Gates has been hosting executives and entrepreneurs in London this week to boost investment in cutting-edge technologies promising big breakthroughs in tackling climate change. - Is there growing investor appetite for climate technology?
China's economy in focus ahead of key July political meeting
A key political meeting that is watched for signals on China's economic direction will be held in mid-July, state media said Thursday, as policymakers seek to shore up a stuttering recovery. State news agency Xinhua said the meeting, to be held from July 15-18, would "primarily examine issues related to further comprehensively deepening reform and advancing Chinese modernisation".
Uzbekistan tries to put fresh spin on its silk industry
In the shade of an almond tree, Zubayda Pardayeva began the age-old and barely profitable process of turning cocoons into silk that Uzbekistan wants to overhaul. With 26,000 tonnes of silk produced in 2023, Uzbekistan aims to consolidate its position as the world's third largest producer.
AFP
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