April, 2023

• 9 April

  Johnson & Johnson agrees to pay $8.9bn to resolve cancer lawsuits

  

  BLOOMBERG Johnson & Johnson (J&J) said it agreed to pay $8.9 billion to resolve all cancer lawsuits tied to its talc-based powders and will make a fresh attempt to contain the liability within a bankruptcy filing by one of its units. The world’s largest maker of healthcare products hopes to settle complaints from about 60,000 claimants and fund a trust ...

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• 9 April

  Inflation is helping drive a boom in secondhand shopping

  

  BLOOMBERG A growing number of people are buying used clothing, shoes and accessories, propelling the secondhand industry to $177 billion in global sales last year, according to a new report from online thrift marketplace ThredUp Inc. That marks a 28% increase over 2021, thanks to surging inflation, more retailers developing curated secondhand or “resale” offerings, plus increased awareness of sustainable ...

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• 9 April

  Trade growth to slow to 1.7% in 2023: WTO

  

  GENEVA / WAM Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO (World Trade Organization) economists said in a new forecast. Weighed down by the effects of the crisis in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty, the volume of world merchandise trade ...

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• 9 April

  UK housing market slump drags construction activity lower

  

  BLOOMBERG The UK’s construction industry grew more slowly than expected in March as sliding demand for houses cut into activity across the sector. The Construction Purchasing Managers’ Index from S&P Global fell to 50.7 in March — above the crucial no-change reading of 50 but down from 54.6 in February. It missed economists’ expectations of 53.6. While activity on commercial ...

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• 9 April

  Vodafone fields approaches for $4b Spanish business

  

  BLOOMBERG Vodafone Group Plc’s Spanish business is attracting takeover interest from potential buyers, including Apollo Global Management Inc, people with knowledge of the matter said. The British telecommunications group has been contacted by other financial and strategic suitors interested in the business, according to the people. While it’s not running a formal sale process for the unit, Vodafone would consider ...

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• 9 April

  S Korea dismisses report of US spying on allies, says ties strong

  

  BLOOMBERG South Korea played down any possibility of a rift with the US over a report that American intelligence agencies had eavesdropped on allies’ discussions about Ukraine, reiterating that its alliance with Washington remains strong. “We will review past precedents and cases from other countries to come up with countermeasures,” and will hold consultations with the US on the issue, ...

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• 9 April

  US election in 2024 won’t change Aukus plans: Australia PM

  

  BLOOMBERG Australia is confident its agreement with the US to purchase a fleet of nuclear submarines for delivery in the early 2030s will go ahead no matter who wins the 2024 election, Prime Minister Anthony Albanese said. In an interview broadcast on Sky News on Sunday, Albanese was asked about growing political division in the US following the indictment of ...

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• 9 April

  China holds military exercises around Taiwan

  

  BLOOMBERG China held a second day of military drills around Taiwan, with multiple exercises involving aircraft and ships, after the island’s president, Tsai Ing-wen, returned from a visit to the US. Taiwan’s Defense Ministry said in a statement that it detected 58 aircraft from China’s People’s Liberation Army (PLA) and nine warships near Taiwan as of midday, with 31 of ...

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• 9 April

  Russia formally charges US reporter with spying

  

  BLOOMBERG Russia has formally charged Wall Street Journal (WSJ) correspondent Evan Gershkovich with spying, Russian state media reported, citing people familiar with the case. The reported charges by Russia’s Federal Security Service (FSB), come more than a week after the US citizen was detained during a reporting trip to Ekaterinburg in Russia’s Ural Mountains region. Gershkovich has denied the changes, ...

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• 9 April

  Tesla cuts prices of all models for second time this year

  

  BLOOMBERG Tesla Inc marked down all of its vehicles again in the US after price tweaks throughout the first quarter yielded an incremental sales gain. The company discounted each version of its higher-volume Model 3 and Y electric vehicles by at least $1,000, and versions of its costlier Model S and X vehicles by $5,000. It also introduced a new ...

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