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J&J CEO to testify at trial for first time on Baby Powder risks

Johnson & Johnson Chief Executive Officer Alex Gorsky was set to be called as a witness on Monday in what would be his first appearance in a jury trial over allegations that the company’s Baby Powder causes cancer. Lawyers for three men and one woman who sued J&J subpoenaed Gorsky in a trial playing out in a state courtroom in New Brunswick, New Jersey near the company’s headquarters. All four have mesothelioma, a rare and incurable cancer that they said was caused by their exposure to asbestos in Baby Powder applied when they were diapered as infants. …read more […]

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Sprint loses fewer subscribers than expected on cheaper phone plans

The company said it lost 115,000 postpaid phone subscribers during the quarter ended Dec 31. Analysts were expecting a net loss of 160,000 subscribers, according to research firm FactSet. Sprint, the fourth largest U.S. wireless carrier by subscribers, is facing a multi-state lawsuit against its $26-billion proposed merger with larger rival T-Mobile US Inc. …read more […]

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US STOCKS-Futures tumble on fears of financial hit from China virus

U.S. stock index futures fell sharply on growing concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and more big businesses shut down. Several cities in China had been locked down for contagion fears and new cases were reported from across the world. Wynn Resorts Ltd, Melco Resorts & Entertainment Ltd and Las Vegas Sands Corp, which have large operations in China, were down between 5% and 7%. …read more […]

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Australia Confirms Fifth Coronavirus Case

Jan.27 — Australia confirmed a fifth case of coronavirus on Monday. “I’m advised that all five remain stable,” Brendan Murphy, Australia’s chief medical officer, said at a news conference. “There are a number of other Australians who have been tested and have been negative,” he said. …read more […]

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Tanger: 4Q Earnings Snapshot

GREENSBORO, N.C. (AP) _ Tanger Factory Outlet Centers Inc. (SKT) on Monday reported a key measure of profitability in its fourth quarter. The real estate investment trust, based in Greensboro, North Carolina, said it had funds from operations of $57.5 million, or 59 cents per share, in the period. Funds from operations is a closely watched measure in the REIT industry. …read more […]

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RPT-With Wuhan virus genetic code in hand, scientists begin work on a vaccine

CHICAGO/LONDON, Jan 24 (Reuters) – When a newly organised vaccine research group at the U.S. National Institutes of Health (NIH) met for the first time this week, its members had expected to be able to ease into their work. In just three months time, they likely will be testing the first of a number of potential experimental vaccines against the new SARS-like coronavirus that is spreading in China and beyond. “I told them, ‘you are going to have your baptism of fire, folks’,” Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases within NIH, …read more […]