(June 21): The US Supreme Court upheld a 2017 tax on American-owned businesses’ foreign profits, rejecting an appeal that could have saved companies hundreds of billions of dollars.Voting 7-2, the justices said Congress has the constitutional power to tax people and companies on their share of undistributed corporate income, at least when it comes to … Read more
A group of cancer victims sued Johnson & Johnson, accusing the company of committing fraud through efforts to use a shell company’s bankruptcy to resolve lawsuits alleging its talc products contained asbestos and caused cancer.
– Sodium is being used to develop rechargeable batteries as an alternative to lithium-ion batteries.
– Sodium-ion batteries are based on more abundant and safer materials than lithium-ion batteries.
– Europe aims to increase its share of global battery-cell production to 25% by 2025.
– Sodium-ion batteries could be cheaper for storing energy in homes, power tools, and small vehicles.
– Sodium-ion batteries offer the prospect of cheaper and cleaner energy for households in Europe.
Unilever announced it would spin off its ice cream unit, which includes brands like Magnum and Ben & Jerry’s, into a separate entity and cut 7,500 jobs as part of a new cost-saving initiative. The spinoff is set to be completed by the end of 2025. Unilever aims for mid-single-digit underlying sales growth and modest margin improvement post-split. The company also plans to save around 800 million euros over the next three years. The job cuts, mostly office-based, represent about 5.9% of Unilever’s workforce of approximately 128,000 people. Shares in the company rose 5.4% in early trading following the announcement.