Purdue Pharma agrees to $270 million settlement in Oklahoma opioid case

(Reuters) – OxyContin maker Purdue Pharma LP and members of the wealthy Sackler family that own the company reached a $270 million settlement to resolve a lawsuit brought by the state of Oklahoma accusing the drugmaker of fueling an opioid abuse epidemic. The settlement unveiled by Oklahoma Attorney General Mike Hunter on Tuesday was the first to result from a […]

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Wall Street lifted by gains in techs, energy

(Reuters) – Wall Street’s main indexes gained for the first time in three sessions on Tuesday, as Apple and chipmakers boosted technology shares, while energy companies rose on the back of higher crude oil prices. Supporting sentiment was stabilizing yields, with the benchmark 10-year Treasury yields rising off 15-month lows and a closely watched part of the yield curve less […]

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U.S. Republicans set 'Green New Deal vote' in bid to divide Democrats

WASHINGTON (Reuters) – Republican U.S. Senate Majority Leader Mitch McConnell, in a move aimed at dividing Democrats, set a vote for Tuesday on their “Green New Deal” resolution that seeks to cut greenhouse gas emissions by moving off fossil fuels. The Green New Deal, introduced last month by Democrats, marked the first formal attempt by lawmakers to define legislation to […]

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OxyContin maker Purdue agrees to settle Oklahoma opioid case: source

(Reuters) – Purdue Pharma LP has agreed to settle a lawsuit by the state of Oklahoma accusing the OxyContin painkiller maker of helping fuel an opioid abuse epidemic, a person familiar with the matter said. It is the first settlement to result from a wave of recent lawsuits over the drugmaker’s marketing of painkillers. The settlement with Oklahoma Attorney General […]

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Pentagon chief says $1 billion of funding shifted to border wall

WASHINGTON (Reuters) – The U.S. Department of Defense shifted $1 billion to plan and build a 57-mile section of “pedestrian fencing”, roads and lighting along the border between the United States and Mexico, the Pentagon chief said on Monday. Last week, the Pentagon gave Congress a list that included $12.8 billion of construction projects for which it said funds could […]

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Ex-coaches among 12 to plead not guilty in U.S. college admissions scandal

BOSTON (Reuters) – Former coaches from the University of Southern California and Georgetown University were among a dozen people who pleaded not guilty on Monday to charges that they participated in the largest college admissions fraud scheme uncovered in U.S. history. The 12 people appeared in federal court in Boston to face charges that they took part in a $25 […]

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Oklahoma top court clears way for Purdue, J&J, Teva to face opioid trial

(Reuters) – Oklahoma’s top court on Monday declined to delay a landmark trial set for May in a multibillion-dollar lawsuit accusing OxyContin maker Purdue Pharma LP and two other drugmakers of helping fuel an opioid abuse and overdose epidemic in the state. The Oklahoma Supreme Court’s decision was a win for the state’s attorney general, whose case is set to […]

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Ex-coaches among 12 to plead not guilty in U.S. college admission scandal

BOSTON (Reuters) – Former coaches from the University of Southern California and Georgetown University were among a dozen people who pleaded not guilty on Monday to charges that they participated in the largest college admissions fraud scheme uncovered in U.S. history. The 12 people appeared in Boston federal court to face charges that they took part in a $25 million […]

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Trump critic Michael Avenatti arrested in Nike extortion scam: prosecutors

NEW YORK (Reuters) – Lawyer Michael Avenatti, who represented adult film star Stormy Daniels in her legal battles against U.S. President Donald Trump, was arrested on Monday and charged with trying to extort more than $20 million from Nike Inc , federal prosecutors said. The U.S. Attorney’s offices in New York and Los Angeles separately filed charges against Avenatti, with […]

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Fed's Evans says have to be nervous about yield curve, but U.S. economy solid

HONG KONG (Reuters) – Chicago Federal Reserve Bank President Charles Evans said on Monday it was understandable for markets to be nervous when the yield curve flattened, though he was still confident about the U.S. economic growth outlook. In what many see as a bad omen for the U.S. economy, yields on benchmark U.S. 10-year treasury notes fell further below […]

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