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J&J hit with $417m bill over talc cancer claim

J&J hit with $417m bill over talc cancer claim

Business
Johnson & Johnson (J&J) has been ordered to pay a woman $ 417m (£323m) in the latest cancer compensation case relating to its talc-based products.A jury in California awarded the sum to Eva Echeverria, who claimed she developed ovarian cancer after using products such as Johnson's baby powder.The consumer goods company said it would appeal against the verdict handed down at the Los Angeles Superior Court.The sum is the largest single financial hit so far from a string of cases it is facing related to the cancer allegations, which it denies.Most centre on claims that the company allegedly failed to warn women about a risk that the mineral talc could cause ovarian cancer.Ms Echeverria was awarded $ 70m in compensatory damages and $ 347m in punitive damages.J&J's lawyers said the
China's Great Wall eyes Fiat Chrysler bid

China's Great Wall eyes Fiat Chrysler bid

Business
Chinese carmaker Great Wall Motor is sizing up Fiat Chrysler, producer of Jeep, the classic American off-roader.A Great Wall official told Reuters it had "an intention to acquire" the Italian-American group - the world's seventh-largest car maker.It is not yet entirely clear whether it is interested in the whole company or just the Jeep brand.Earlier reports said Great Wall had asked to meet Fiat executives to discuss buying the off-road make. Jeep, which celebrated its 75th birthday last year, is considered FCA's most marketable brand. Its reputation goes back to World War Two, when Jeeps were used extensively by the US military.Global ambitionsShares in Fiat Chrysler Automobiles jumped 3.5% in Milan on Monday following the news.Yale Zhang, head of Shanghai-based consultancy Automotive Fo...
Air Force stands up new Space Operations Directorate

Air Force stands up new Space Operations Directorate

Business
Aug. 18 (UPI) -- The U.S. Air Force has announced that its new Space Operations Directorate begins initial operating capability this coming Monday.The 43-member staff of the directorate, or AF/A11, is composed of military, government and contractor personnel. Shawn Barnes has been named assistant deputy chief of staff for Space Operations, and Maj. Gen. Pamela Lincoln will serve as mobilization Assistant to the deputy chief of staff for Space Operations.AF/A11 is meant to be a strong advocate for space capabilities inside the Air Force and with national security, commercial, and international partners."The A11 will be key to ensuring we link combatant commander and service space requirements with our capabilities," Air Force Chief of Staff Gen. David L. Goldfein, the joint chief most respo...
Twitter backer IVP in talks with TransferWise

Twitter backer IVP in talks with TransferWise

Business
One of Silicon Valley's top investment firms is in talks to buy a stake in TransferWise, the digital payments app, cementing its status as one of Britain's most promising technology start-ups.Sky News has learnt that IVP, whose roll-call of deals includes Snapchat parent Snap, Twitter and Netflix, is close to a deal to invest tens of millions of pounds in TransferWise.An agreement is said by sources close to the talks to be imminent, and will form part of a fundraising by the UK-based payments platform that was revealed by Sky News a month ago.The exact sum being raised by TransferWise was unclear this weekend, although one insider said it was likely to be in the region of $ 60m, a smaller sum than had been expected several weeks ago.TransferWise is said to have held talks with a number of...
Air Force successfully launches LRASM missile from B-1B Lancer

Air Force successfully launches LRASM missile from B-1B Lancer

Business
Aug. 18 (UPI) -- The U.S. Navy and Lockheed Martin have conducted the first free-flight launch of a Long Range Anti-ship Missile from a B-1B Lancer bomber at Point Mugu, Calif.The missile navigated pre-programmed waypoints before targeting and destroying a single moving target out of a group using onboard sensor criteria. It was the first complete functionality test of the LRASM."Today marks a significant step towards providing the operational community with a leap in critical surface warfare capability by next year," LRASM director Capt. Todd Huber said in a press release.The Long Range Anti-ship Missile is a derivative of the Joint Air to Surface Standoff Missile. It is a stealthy cruise missile designed to pick out specific naval targets using a modified Tactical Tomahawk mission data s...