Bloomberg Johnson & Johnson agreed to pay about $1 billion to resolve most lawsuits claiming it sold defective metal-on-metal hips that ultimately had to be removed, according to people with knowledge of the matter. With the agreement, J&J has now resolved more than 95 percent of the 6,000 cases in which surgeons extracted the Pinnacle implants because of defects that ...

Bloomberg Italy’s fiscal situation will worsen this year and next because a pickup in the economy won’t be strong enough to stop its debt and deficit rising, the European Commission warned. While economic “growth is likely to rebound moderately on the back of firming external demand and higher social transfers,” Italy remains “the only euro-area member state where the snowball ...

Bloomberg Volkswagen AG’s Porsche sportscar unit agreed to pay 535 million euros ($599 million) to end a probe into rigged diesel engines, bringing the total amount of fines in its home country to more than 2.3 billion euros. The carmaker won’t appeal the order which was levied as part of an ongoing criminal investigation targeting managers at the Porsche brand, ...

Bloomberg In its first financial report since going public, Lyft Inc exceeded analysts’ sales expectations and assured investors that its hefty losses will decrease next year. The San Francisco-based company projected second-quarter revenue of $800 million to $810 million. Analysts were expecting $782 million, according to data compiled by Bloomberg. Sales grew 95 percent to $776 million in the first ...

Bloomberg Uber. Lyft. Pinterest. This year’s blockbuster tech IPOs have had real estate brokers in the San Francisco Bay area salivating over the prospect of fat commissions from home purchases by newly minted millionaires. But halfway through the housing market’s key spring selling season, there’s little indication that flush buyers are bidding up prices beyond their peak last year. In ...

Bloomberg South Korea said President Donald Trump supports the donation of food to North Korea through a UN agency, as the top US envoy noted the regime’s growing impatience with sputtering nuclear talks. Trump and South Korean President Moon Jae-in — who has tried to serve as a bridge between the US president and North Korean leader Kim Jong-un — ...

Bloomberg International investigators should probe the killings of more than 200 people in Ethiopia amid a territorial dispute near the Sudanese border, a regional official said. The violence occurred in Agew Awi Zone in Amhara state, according to Adigo Amsaya, the deputy president of neighbouring Benishangul-Gumuz state. “Those responsible for this massacre have to be held accountable,” Adigo said by ...

Bloomberg President Donald Trump’s advisers are pushing him to defy congressional investigations in hopes of luring Democrats into escalating a fight that they say will turn voters against the party in the 2020 elections. The advisers are counting on news coverage of the battle with Congress — including Democrats’ raising the possibility of impeachment — distracting attention from candidates vying ...

Bloomberg Finland is edging closer to having a broad coalition government after Social Democrat Leader Antti Rinne invited the Center Party of outgoing Prime Minister Juha Sipila to the negotiations. Rinne, who has been mandated to lead the talks after his party emerged on top in the election, also asked the Greens, the Left Alliance and the Swedish People’s Party ...

Bloomberg British PM Theresa May was expected to face lawmakers in parliament after another day of inconclusive talks with the opposition Labour Party further dented her hopes of reaching a Brexit deal. Already under pressure after a disastrous set of results for her Conservative Party in local elections, the beleaguered premier’s cabinet concluded that cross-party talks are stalling and unlikely ...