Monday, 17 August 2020

Daily Investor Update: U.S. states seek $2.2 trillion from OxyContin maker Purdue Pharma: filings

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U.S. states seek $2.2 trillion from OxyContin maker Purdue Pharma: filings

U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP's alleged role in America's opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while playing down the risks of abuse and overdose.

As U.S. homebuilder confidence matches record high, mortgage delinquencies rise

U.S. home builder confidence rose for a third straight month in August to match its highest level ever as record-low interest rates spur buyer traffic, data released on Monday showed in the latest indication the housing market is a rare bright spot in the economic crisis triggered by the coronavirus pandemic.

Apple to cut off Epic Games from its development tools

Apple Inc will terminate all of Epic Games' developer accounts and cut it off from its development tools starting Aug. 28, the videogame maker said on Monday.

Defying Trump, California locks in vehicle emission deals with major automakers

The California Air Resources Board (CARB) and major automakers on Monday confirmed they had finalized binding agreements to cut vehicle emissions in the state, defying the Trump administration's push for weaker curbs on tailpipe pollution.

Amazon to help Toyota build cloud-based data services

Amazon.com Inc's cloud computing unit will help Japan's Toyota Motor Corp build a platform to help manage and monetize data gathered from the automaker's global vehicle fleet, the companies said on Monday.

Alibaba shares hold up in face of Trump threats

Shares in Chinese online retail giant Alibaba ground out gains on Monday as profits for smaller peer JD.com buoyed expectations for its own results later this week, countering hint of more U.S. moves against it and other Chinese companies.

JPMorgan hires UK ex-finance minister Javid

Wall Street giant JPMorgan has hired Britain's former finance minister Sajid Javid as a senior adviser, the bank said on Monday, a move that sees the politician resume his career in investment banking.

Trump looked at banning further Chinese apps in addition to TikTok: Meadows

U.S. President Donald Trump has looked at banning additional Chinese-owned companies following his decision to ban the short-video app TikTok, White House Chief of Staff Mark Meadows said on Monday.

TikTok's journey from global sensation to Trump target

Microsoft Corp's potential acquisition of TikTok's U.S. operations is the latest twist in a two-year rollercoaster for the short video app, which has come under growing scrutiny from overseas governments as its global popularity soars.

Trump administration looks at allowing longer extensions to remote offshore wells

The U.S. government is considering changes to policies for oil companies operating in the offshore Gulf of Mexico that might allow existing platforms to lengthen extensions to remote wells, a U.S. official said on Monday.

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