Family members of a late woman blamed Johnson & Johnson for not warning customers about talc cancer risks. The court issued a verdict in February 2016 in favor of the plaintiffs that stipulated compensatory reward of $72 million. However, Johnson & Johnson won’t have to honor such an indemnification anymore.

J&J Won’t Pay the $72 Million Verdict that Supported Allegations of Uncommunicated Talc Cancer Risks

On Tuesday, Johnson & Johnson won a reversal of the $72 million verdict. The Missouri Court of Appeals, Eastern District annulled the outcome of the lawsuit due to a recent U.S. Supreme Court decision. The new decree limits the places where plaintiffs can file lawsuits. Therefore, the law wouldn’t allow the Alabama case to conduct a trial in St. Louis.

The February 2016 lawsuit that the late Jacqueline Fox’s family opened was just one of four jury awards worth $307 million in St. Louis state court alone. All these plaintiffs alleged similar accusations. J&J did not warn consumers properly of the threat their products with talc content pose to consumers. These skincare lotions present cancer risks of which many clients weren’t aware.

However, this chapter is only at the beginning for J&J. Despite the Tuesday verdict reversal, the company has to answer to other 4,800 discontent clients across the United States.

Most plaintiffs opened cases in Missouri. J&J won one trial in this state. However, other cases will be trialed in California, where a woman received a $417 million verdict due to uncommunicated talc cancer risks. Nonetheless, all Missouri cases that out-of-state residents opened are now in jeopardy.

The Supreme Court Limited the Number of Court States Where People or Entities Can Open Lawsuits

In June, the Supreme Court issued a significant decision in the Bristol-Myers Squibb Co. case. According to this, state courts don’t have the authority to hear allegations coming from non-residents who didn’t suffer the injuries in that precise state. On top of that, the limitation includes defendants with no locations in that particular state.

J&J was pleased with the Tuesday decision while the Fox family is considering an appeal. In the end, J&J won’t have to pay the $72 million award anymore.

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Federal Reserve Chair Janet Yellen claimed that the U.S. central banks are going to stick to interest rates increases. Their actions received validation from a reinforced labor market, robust growth of the national economy, and healthy global finances. As a consequence, Yellen admitted to disappointment when it came to current lower inflation than expected.

Janet Yellen Reportedly Aims at a New Career Direction as the Head of Central Bank

On Sunday, Janet Yellen updated the current national economic situation during the Group of Thirty’s Annual International Banking Seminar in Washington. Under the pressure of weak data, the Federal Reserve Chair claimed that 2018 would record better results.

“My best guess is that these soft readings will not persist, and with the ongoing strengthening of labor markets, I expect inflation to move higher next year.”

Yellen is currently under a lot of pressure. Even though her term wears off in February, she has bigger plans to achieve. She is presumably featuring on the short list of candidates President Donald Trump consults for the position in charge of the central bank.

Yellen has high chances to make a strong impression on the President of the United States. She proved great determination in steering the global financial crisis towards recovery. On the other hand, she couldn’t quite deliver Fed’s goals. The current status indicates a lower inflation than the 2% desired results.

The Lower Inflation Falls Below the Expected 2% Objective

As of August, inflation got stuck at 1.3% even though the report cast volatile factors such as fuel and food aside. The negative direction remained consistent for months. Yellen’s career will continue uncertain for the near future as well. Price fluctuations and seasonal adjustment issues are going to inject data through the end of the year with uncertainty.

Meanwhile, employment exceeded Fed’s expectations. The unemployment rate resumed its pre-crisis dimensions where 4.2% of U.S. population filed for unemployment benefits. Therefore, the labor market continues to build a booming economy on its current stabilization. On the other hand, wages show no signs of improvement.

If national economy and labor market continue their ascending, the inflation is bound to strengthen. Officials expect a new increase by the end of 2017.

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Roy Price used to be an influential name across media development medium being in charge of Amazon Studios. Amazon was planning further massive investments in this department to create original content for the television world. However, Roy Price won’t be part of these ambitious plans anymore. A Hollywood producer tackled sexual harassment claims against Price in a recent interview.

Hackett Opens up about Her Sexual Harassment Experience after Two Years

Isa Dick Hackett worked closely with Amazon Studios on the production of two successful TV series. These are “Philip K. Dick’s Electric Dreams” and “The Man in the High Castle.” However, the recent Harvey Weinstein matter gave her courage to open up about her unwanted experiences regarding sexual assault. Her news led to Amazon suspending Roy Price from media development department.

Ms. Hackett claimed that Mr. Price opened uncomfortable sexual propositions to her. The Hollywood producer lived this negative experience on the very day she met Roy Price. Hackett had to attend Comic-Con event in San Diego in 2015. The goal was to promote the launch of “The Man in the High Castle.”

After the event, the producer joined a dinner with the cast members. However, Price happened to be among them as well. These were the circumstances when the two of them first met. During their dinner, Price invited Hackett to an Amazon party the same night to which she answered affirmatively.

Therefore, Isa Dick Hackett, Roy Price, and Michael Paull shared a taxi to the W Hotel the same day. This was when Amazon Studios head started making indecent proposals to Hackett. His approach was demeaning. Hackett refused his solicitations. She explained to him that she is a lesbian in a happy marriage with children.

Amazon Put Executive Roy Price on Leave After the Story Came out

Despite Hackett showing uninterested, Price continued his sexual harassment during the party. Therefore, she didn’t hesitate to take this incident to Amazon executives immediately.

Upon these accusations, the managers invited an investigator, Christine Farrell of Public Interest Investigations Inc., to help them mitigate the situation. However, Hackett wasn’t present at this meeting. Therefore, the case concluded that Price was never seen at events thrown for Hackett’s productions.

Price declined to comment once the story came out. However, Amazon responded promptly by placing Price on leave of absence immediately. Hackett admitted that the Weinstein story gave her courage to talk about her experience publicly.

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The 14th Prime Minister of India made two promises to his country. First of all, Narendra Modi plans to root out the hardened system of corruption. Secondly, he vowed to revive the weak national economy. The latter objective might soon benefit of an overdue renewal of the old Income Tax Act. The main positive effect will be to increase low incomes in a decade.

India’s Economy Has Currently $153 Billion Assets Frozen Due to Litigations

Prime Minister Narendra Modi is currently working on tweaking tax laws to work to the benefit of taxpayers. The main changes Indian citizens might soon experience will be a drop of multiple return submissions and faster ways to redress in case of error. The new draft might be ready as soon as the start of 2018.

At the moment, India’s economy is suffering much. The main culprit seems to be the ancient words of the law that slacken market fluidity. Current tax rules that dictate the financial activity are not suited for modern times. On top of that, the language gives way to numerous interpretations which brings chaos to the system.

As a consequence, around 10 trillion rupees or $153 billion are frozen due to litigations. Therefore, this year’s second quarter recorded a three-year low economic performance of 5.7%. According to executive director at Khaitan and Co. tax consultancy organization, Daksha Baxi, India is far from having the highest tax rates in the world. This incriminates only the broken system for the country’s slow economic drive.

The Next Draft of the Income Tax Act Will Incorporate Modern Processes and Technology

This isn’t the first time when the government pursuits a revamp of the ancient Income Tax Act. However, previous attempts failed due to lack of support in parliament. Modi’s administration plans to modernize the text and link the law to technology.

Therefore, taxpayers in India might soon receive emails from the tax office instead of a tax official to visit households. On the other hand, citizens will be able to open appeals online rather than waiting in queues at the government. These are just a few examples of the improvements tax laws are going to receive.

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The latest hurricanes that hit North America were some of the most vicious phenomena ever recorded. They left behind chaos and unrooted communities. However, after each calamity, people get together to rebuild their homes. The factory activity in September showed the heartiest intensity in the last 13 years. A high wave of orders and raw material price spikes are on their way to regenerate the injured economy.

The US Factory Activity Showed in September the Greatest Intensity Since May 2004

On Monday, the Institute for Supply Management issued its latest survey. The paper offers an in-depth look at the U.S. economy after it received a full blow from Irma and Harvey. The most notable effect is an intense wave of orders across factories last month. Employment across factories reached the highest level since 2011.

The report measured an index of US factory activity of 60.8 points last month. The last time a reading showed such a high performance was in May 2004. When the ISM index raises greater than the threshold of 50, it is a sign of a real boom in manufacturing. This segment alone is in control of 12% of the US economy.

The IRM Survey Managed to Intercept a Positive Sentiment Regarding the U.S. Economy after the Monsoon Season

The ISM noticed the monsoon season disrupted supply chain and pricing balance mostly within the chemical products segment. Nonetheless, beverage, tobacco, and food industries received heavy damages as well. Despite hurricanes’ impact on raw material prices, there was only one in 18 manufacturing industries that failed to record growth in September.

The IRM survey took the pulse of the sentiment the US economy gathered rather than raw data. Nonetheless, entities’ reliability on national finances is a distinct marker of a strong market. The evolution of the economy shows little signs of damages after the recent disruptive phenomena.

The third quarter is expected to have six-tenths of a percentage point dented due to Harvey and Irma as far as the GDP growth is concerned. Hurricane Harvey affected mainly homebuilding, industrial production, real estate, and consumer spending when it hit Texas in August. Irma, on the other hand, generated extensive power cuts starting with Florida in September.

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A grocery list devised by an Indian woman for her husband went instantly viral after it was posted on social media. The woman claims that the ‘husband-proof’ shopping list prevents the ‘epic fights’ over the produce her man is bringing home.

Era Golwalkar, 29, said in an interview that the list prevents a ‘weekly problem’. The woman, who works as an IT specialist, recalled that after she and her husband Gaurav got married they agreed on splitting the chores.

The man even said he is ready to learn to cook, but he had zero experience with activities that actually enabled him to cook edible meals. Era recalls that when she first asked him to buy vegetables, the operation turned out to be an ‘epic fail.’ The scenario repeated itself the second and the third time.

Era suspected vendors purposely took advantage of her husband’s lack of experience and sold him spoiled fruit and vegetables. So, every time it was her husband turn to do the shopping the couple had a fight.

Gaurav even snapped pictures of the things he planned to buy to get Era’s approval. So, she knew it was the time to come up with a solution.

The Fail-Proof Grocery List

She crafted a painfully detailed grocery list which included drawings of the items to be purchased. The list also contains helpful tips like spinach should not have holes in it or potatoes should be medium-sized.

The list helped Gaurav buy the right stuff and make his wife happy. Era decided to help other husbands and posted the list online. The reactions were varied, but most women could relate to the things written down. Era claims the instructions can be used even by kids when helping their mothers with the shopping.

Men, on the other hand, either laughed over the list or felt the woman was maybe a little too condescending. Era admitted that not all wives need a husband-proof shopping list, but for her husband, it worked miracles.
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Air Force One is a technology masterpiece that came to symbolize the American presidency and the power of the free world. Its history springs in the year of 1943 when the Air Force predecessor and Secret Service agreed on designating a specific military aircraft for the sole purpose of safely transporting the president through the air. As of recently, Boeing won another contract that awarded it the honor to design the next presidential aircraft for $600 million.

Boeing Will Use the $600 Million Funds to Create the Preliminary Design only

On Tuesday, Boeing received almost $600 million funds in a bid from the U.S. Air Force to design the next generation of presidential aircraft. According to its new contract, the Chicago aerospace behemoth will have first to take care of the preliminary design. The prerequisites for this construction include a medical facility, self-defense systems, mission control platform, electrical power upgrades, and necessary capabilities for autonomous ground operations.

White House designated two existing commercial 747-8 planes to be tweaked into comprehensive military aircraft to transport and guard the presidential community. The current Air Force One plane dates back from the administration of President George H. W. Bush in 1990. This is an upgraded version of a VC-25A plane.

The New Generation of Air Force One Will Be Ready by 2024

As a consequence, the $600 million contract is just the initial agreement between the Air Force and Boeing. After this first stage is completed, the agency is expected to issue a new contract next summer. This will also be the final gig that involves design completion, instating the upgrades in the two 747-8 planes, tests, and delivering the final products. The project scheduled the jets to become usable by 2024.

The two planes that are to become part of the presidential fleet were acquired last month by Air Force from Boeing at a discount. The merchandise was first created for the Russian airline, Transaero. However, the company entered bankruptcy and couldn’t cover the payment for these two jets. Therefore, they remained for several years inactive until Trump decided to buy them instead of creating new jets for his administration from scratch.
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U.K. Prime Minister Theresa May finds herself at a crossroads. On the one hand, the conflict between Boeing and Bombardier constitutes a commercial matter and she has little control over it. On the other hand, a solution to this problem will bring her more political influence. As a result, May turned to the President of the United States to settle this issue once and for all.

Boeing Opened a Commercial Matter with Bombardier over Unfair Commercial Prices

Boeing Co. and Canada-based Bombardier Inc are currently involved in a lawsuit as conflicting sides. The former wants the U.S. International Trade Commission to add more taxes for its main industry rival. The pretext is that Bombardier affords to offer brand new C series Jets at an extremely low price judging from what the market has to offer at this point.

The Canadian company can afford such competitive strategies thanks to a government support that stretches over $149 million. The financial aid has the form of a loan received from the British government. As a result, the court commission sided with Boeing in July.

However, the ruling wasn’t clear enough on the indemnification Bombardier has to settle. A further eventual report is scheduled for September 25. The document will probably contain sanctions against the Canadian company.

Theresa May Intends to Persuade the Two Companies to Avoid the Services of the Court and Negotiate the Case by Themselves

Nonetheless, Theresa May seeks a different solution to this issue. The British political leader intends to protect jobs at Bombardier plant in Belfast, Northern Ireland. This way, she is going to ensure votes from the Democratic Unionist Party in Northern Ireland to pass her legislations through the House of Commands.

“Our priority is to encourage Boeing to drop its case and seek a negotiated settlement with Bombardier.”

Therefore, she had a phone call with Donald Trump on September 5 regarding this commercial matter. The U.K. Department for Business claimed that the British government looks to dissuade Boeing from following up with its case. If charges are dropped, May would instead persuade Bombardier to request a negotiated settlement and skip the punitive court decisions.
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Two friends dreamed of opening their own hedge fund. However, they needed a strategy to gain correct insights into tech giants’ future moves. Instead of resorting to the hard way, the two of them turned to a friend who was also an Amazon insider. The mole delivered them enough illegal tips for them to appear as top traders. However, SEC sniffed their shabby operation eventually.

The Group of Three Planned to Build a Reputation and Open a Hedge Fund to Channel Their Momentum

Maziar Rezakhani and Sam Sadeghi performed $10,000 worth of payments to Amazon analyst Brett Kennedy. The merchandise they acquired through these funds was nonpublic data. The U.S. Securities and Exchange Commission stated on Thursday that this was the way the two wannabe traders learned about company’s 2015 earnings after the first quarter.

Through this move, they aimed at building an impressive reputation for themselves. Afterwards, they would have opened a New York hedge fund together to serve those hyped on their valuable insights. Trader Rezakani and Amazon insider Kennedy were friends since 2009. They even attended the same fraternity organization during college.

In the end, the illegal trades amounted to $116,000, and the profits were stocked in a brokerage account created in the name of Rezhakani. Before Amazon issued its quarterly report, Rezakhani published the real numbers claiming to messaging boards that the results were obvious even for a 5-year-old. He started building up from there an image of a know-it-all trader on social media.

The Two Wannabes and Amazon Insider Have to Pay Heavy Settlemens

However, SEC’s new charges have to wait. Rezakhani is currently getting ready to serve five years in prison. This sentence is the outcome of a guilty plea in a fraud case concerning Apple Inc, the U.S. Internal Revenue Service, and other shipping companies.

In this scheme, Rezakhani ordered numerous iPhones with resale rights. However, he ended up claiming that his order was stolen before it reached him. Nonetheless, his luxurious lifestyle gave him away, and he is to pay $3.5 million in restitution.

As for SEC’s case, Kennedy agreed to a $10,000 settlement without commenting on the validity of agency’s allegations. Sadeghi has to pay another $24,000 without revealing his position regarding this wrongdoing.
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