Bhinneka News Online: Thursday Morning Briefing: Several states wary of $48 billion opioid settlement proposal

Thursday 24 October 2019

Thursday Morning Briefing: Several states wary of $48 billion opioid settlement proposal

U.S.

Several states that have been ravaged by the opioid epidemic are pushing back on a proposed $48 billion settlement framework that would resolve thousands of lawsuits against five drug companies accused of fueling the addiction crisis.

Republican lawmakers, encouraged by Donald Trump to get tougher in fighting Democrats’ attempts to impeach him, disrupted the House of Representatives impeachment inquiry and prevented a Pentagon official from testifying. The Republicans stormed into a hearing room where Laura Cooper, the U.S. defense official who oversees Ukraine and Russia matters, was due to testify behind closed doors and began yelling, lawmakers and aides said.

More than half a million homes and businesses in California could lose power this week as utilities including Pacific Gas & Electric and Southern California Edison cut off electricity as a preventive measure against wildfires.

Earnings

Tesla surprised investors with a quarterly profit that sent its shares soaring, as Chief Executive Elon Musk promised a 2020 rollout of a cheaper SUV and more self-driving technology to stay ahead of larger rivals rushing into the premium electric vehicle market he created.

Twitter posted worse-than-expected third quarter revenue and profit, which the company attributed to advertising problems including product bugs and unusually low demand over the summer, sending its shares down.

Southwest Airlines reported a 7.2% rise in third-quarter profit, as strong travel demand and higher fares offset the hit from flight cancellations due to the grounding of its Boeing 737 MAX jets.

Europe

Spanish dictator Francisco Franco’s remains were exhumed from the state mausoleum in the Valley of the Fallen where they have lain since his death more than four decades ago. They were to be taken for reburial in a private vault in the Mingorrubio cemetery north of Madrid, as the Socialist government seeks to end decades of controversy over his resting place.

All the 39 people found dead in a lorry to the east of London are believed to be Chinese, British police said, adding that raids had been carried out at three properties in Northern Ireland. “We have since confirmed that eight of the deceased are women and 31 are men and all are believed to be Chinese nationals,” police said in a statement.

The United Kingdom will ultimately leave the European Union on the terms of Prime Minister Boris Johnson’s deal, a senior Downing Street source said, as EU leaders mulled offering London a three-month flexible Brexit delay.

Middle East

Russia says Syrian Kurd forces pulling back from Turkish border

Kurdish forces have begun withdrawing from areas near the Turkish frontier in Syria, Russia’s deputy foreign minister was quoted as saying, following a deal between Moscow and Ankara that ended Turkey’s cross-border military offensive.

4 min read

Lebanese President Aoun invites protesters to dialogue

Lebanese President Michel Aoun said that he was ready for dialogue with protesters to find the best solution for saving the country from financial collapse and said it was vital to review the current government.

1 Min Read

Pakistani opposition raises alarm about health of ex-PM Sharif

Pakistan’s main opposition party said the health of its leader, jailed former Prime Minister Nawaz Sharif, was deteriorating and the government was victimising him by delaying treatment as part of a campaign against him and his family.

4 min read