Today’s News
Band-Aid, Tylenol and Kleenex put under one roof in $48.7 billion deal
Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer-health goods company. Shareholders of Kimberly-Clark will own about 54 percent of the combined company. Kenvue shareholders will own about 46 percent in what is one of the largest corporate takeovers this year. The combined company will have a huge stable of household brands under one roof, putting Kenvue’s Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark’s [...]
As Buffett prepares to relinquish CEO spot, Berkshire Hathaway’s profits increase 17%
OMAHA, Neb. (AP) — The profits of Warren Buffett ‘s company improved 17 percent thanks to a relatively mild hurricane season and more paper investment gains this year as Berkshire Hathaway prepares for the legendary 95-year-old investor to relinquish the CEO title in January. Last month’s $9.7 billion investment in OxyChem won’t do much to diminish the $381.7 billion cash pile that Berkshire was sitting on at the end of September, however, even though it [...]
Microsoft enters $9.7 billion contract with IREN that provides it access to Nvidia computer chips
Microsoft has entered into a $9.7 billion cloud services contract with artificial-intelligence cloud service provider IREN that will give it access to some of Nvidia’s chips. The five-year deal, which includes a 20 percent prepayment, will help Microsoft as it looks to keep up with AI demand. Last month, the software maker reported its quarterly sales grew 18 percent to $77.7 billion, beating Wall Street expectations while also surprising some investors with the huge amounts [...]
Citing emerging health risks, FDA restricts use of children’s fluoride supplements
WASHINGTON (AP) — The Food and Drug Administration last week moved to limit the use of fluoride supplements used to strengthen children’s teeth, the latest action by Health Secretary Robert F. Kennedy Jr. and his deputies against a chemical. The FDA said that the products are no longer recommended for children younger than 3 and those who are older but don’t face serious risks of tooth decay. Previously, the products have been prescribed for children [...]
OpenAI, Amazon sign $38B deal for AI computing
SEATTLE (AP) — OpenAI and Amazon have signed a $38 billion deal that enables the ChatGPT maker to run its artificial intelligence systems on Amazon’s cloud computing services. OpenAI will gain access to “hundreds of thousands” of Nvidia’s specialized AI chips through Amazon Web Services as part of the deal announced this week. The agreement comes less than a week after OpenAI altered its partnership with its longtime backer Microsoft, which is no longer the [...]
U.S., China to set up direct military communications
KUALA LUMPUR, Malaysia (AP) — U.S. Defense Secretary Pete Hegseth said Washington and Beijing would establish military-to-military communications channels, adding that bilateral ties between the countries have “never been better.” Hegseth said he spoke with his Chinese counterpart, Admiral Dong Jun, late Saturday on the sidelines of a regional security meeting and that they agreed that “peace, stability and good relations are the best path for our two great and strong countries.” His remarks posted [...]
Carbon capture pipeline project in Nebraska finds success
BISMARCK, N.D. (AP) — A multistate carbon capture pipeline began operating in September, reducing emissions from Midwest ethanol plants and carrying that carbon dioxide gas to be forever buried underground in Wyoming, an achievement after years of complaints, lawsuits and legislation blocked similar efforts by other companies. Other projects prompted intense opposition, including one that has run up $1 billion in spending with no guarantee of success, but the Tallgrass Trailblazer Pipeline is being praised. [...]
Italian police seize $1.5B from Campari shareholder
MILAN (AP) — Italian tax police said they are seizing assets worth $1.5 billion from a Luxembourg-based holding company’s shares in spirits maker Campari Group as part of a fraud investigation. Luxembourg-based Lagfin is the controlling shareholder of Campari, which was founded in 1860 and is one of the largest players in the premium spirits industry. A judge in Monza, northeast of Milan, approved the seizure order, which police described as precautionary as they look [...]
DOE: Test plans for nukes won’t include explosions
WEST PALM BEACH, Fla. (AP) — New tests of the United States nuclear weapons system ordered by President Donald Trump will not include nuclear explosions, Energy Secretary Chris Wright said this week. It was the first clarity from the Trump administration since the president took to social media last week to say he had “instructed the Department of War to start testing our Nuclear Weapons on an equal basis.” “I think the tests we’re talking [...]
Pfizer sues to stop rival bid for Metsera
Pfizer is suing over some unsolicited competition in its nearly $5 billion bid to buy the drugmaker Metsera. New York-based Pfizer last week said it was suing Metsera and a third drugmaker, Denmark’s Novo Nordisk, after Novo announced a bid for Metsera. Novo said it planned to buy Metsera in a deal that could be worth up to $9 billion, and Metsera said the offer appeared to be superior to Pfizer’s bid, which was announced [...]
Legal News
Texas AG files lawsuit against companies behind Tylenol
Texas Attorney General Ken Paxton has accused the companies behind Tylenol of deceptively marketing the pain reliever to pregnant mothers in a lawsuit that asserted [...]
Chase wants out of paying fraudsters’ legal tab of $115M
NEW YORK (AP) — For nearly three years, JPMorgan Chase has picking up the legal tab of Charlie Javice and Olivier Amar, the two convicted [...]
Dozens charged in illegal sports betting, rigged poker games
Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier are among 34 people charged in connection with schemes involving illegal sports [...]
Business News
Federal Reserve cuts key rate; Powell says future reductions are not assured
WASHINGTON (AP) — The Federal Reserve last week cut its key interest rate for a second time this year as it seeks to shore up [...]
Boeing pushes delivery of 777X jet to ’27
Boeing has pushed deliveries of its 777X jet until 2027 amid certification delays, the company reported last week. CEO Kelly Ortberg said the first delivery [...]
Starbucks halts 2-year sales slide in 4Q
Starbucks halted a long sales slide in its fiscal fourth quarter as pumpkin drinks and improved service brought customers back to its stores. The Seattle [...]
Real Estate
Army Corps OKs reroute of pipeline
MADISON, Wis. (AP) — The U.S. Army Corps of Engineers has approved energy company Enbridge’s plans to reroute an aging oil pipeline around a northern [...]
JPMorgan Chase unveils 60-story HQ
NEW YORK (AP) — JPMorgan Chase unveiled its new 60-story headquarters to the public this week, one of the first major office buildings to be [...]
Franklin County affordable housing projects receive OHFA financing approval
Two local affordable housing projects have been approved for financing through various programs, according to the Ohio Housing Finance Agency. The agency’s board last week [...]
Politics
China says it will work with U.S. to resolve TikTok issues
President Donald Trump’s meeting last week with China’s top leader Xi Jinping produced a raft of decisions to help dial back trade tensions, but no [...]
Senate votes to block tariffs targeting Brazil
WASHINGTON (AP) — The Senate approved a resolution this week that would nullify President Donald Trump’s tariffs on Brazil, including oil, coffee and orange juice, [...]
Feds move to overrule state laws on medical debt reporting
NEW YORK (AP) — The Trump administration is moving to overrule any state laws that may protect consumers’ credit reports from medical debt and other [...]