Business

Illustration by Justin Sullivan/Getty Images (NEW YORK) — Johnson & Johnson announced Tuesday that the company has agreed to pay $8.9 billion over 25 years to settle “all current and future” claims that the company’s baby powder and other cosmetic talc products allegedly caused cancer. The company announced in the securities filing that its subsidiary […]

d3sign/Getty Images (SAN FRANCISCO) — Bob Lee, Cash App founder and current executive at cryptocurrency firm MobileCoin, has died, the company told ABC News. He was 43 years old. A longtime tech executive, Lee was the first chief technology officer at Square, a digital payment company founded by former Twitter CEO Jack Dorsey. “Bob was […]

krisanapong detraphiphat/Getty Images (NEW YORK) — A tech start-up CEO once considered a preeminent American entrepreneur has been arrested and charged with fraud for allegedly lying to J.P. Morgan Chase, the Department of Justice said Tuesday. Charlie Javice, previously featured as a Forbes magazine “30 Under 30” honoree, was arrested Monday night in New Jersey […]

(NEW YORK) — A crippled banking system, stubbornly high inflation, recession fears — the growing set of threats has tipped the U.S. into precarious economic territory but the leader of the nation’s largest bank is nonetheless optimistic about the financial outlook. Resilient consumer spending and a strong job market have buoyed the economy, padding the […]

(EMERYVILLE, Calif.) — A scientific quest to feed the world, protect animals and simultaneously cut down on greenhouse gas emissions is on the cusp of a major milestone in the U.S., advocates say. In the last five months, the U.S. Food and Drug Administration has cleared two American producers of lab-grown meat to bring their […]

(NEW YORK) — The Laundress is recalling hundreds of thousands of laundry products four months after issuing a separate recall of millions of laundry detergent and cleaning products. On Friday, the company announced it was issuing a voluntary recall of about 800,000 of its fabric conditioners, which are billed as products that help “eliminate static […]

(NEW YORK) — A group of oil-producing nations imposed a significant cut in oil output with far-reaching consequences for U.S. gas prices, industry analysts told ABC News. The alliance of countries known as OPEC+, led by Saudi Arabia and Russia, agreed on Sunday to cut oil output by 1.2 million barrels per day starting in […]

(NEW YORK) — Endeavor, the parent company of UFC, acquired World Wrestling Entertainment on Monday in a merger that values the WWE at $9.3 billion, forming a worldwide combat sports behemoth, the companies said in a joint announcement. Ari Emanuel, the CEO of Endeavor, will remain the head of the newly formed company, which holds […]

(NEW YORK) — Encircled by camera-wielding supporters and journalists, Chris Smalls popped a bottle of champagne one year ago today to celebrate a watershed election that established the first-ever U.S. union at Amazon — but the celebratory times for the union wouldn’t last. Smalls, a former warehouse worker at the company’s facility in Staten Island, […]

(NEW YORK) — Starting April 1, Twitter users who don’t subscribe to Twitter Blue are going to have to say goodbye to their blue check marks. Recent changes implemented under Elon Musk, the company’s CEO, mean anyone who subscribes to Twitter Blue gets a blue “check” icon next to their profile. But that wasn’t always […]