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Drug firms offer to settle U.S. opioid suits with $50 billion package: sources

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Five drugmakers and distributors are offering $22 billion in cash as well as drugs and services they value at $28 billion to resolve lawsuits alleging the industry fueled the U.S. opioid crisis, two sources familiar with the matter said on Wednesday.

UPDATE 2-Drug firms offer to settle U.S. opioid suits with $50 bln package -sources

Oct 16 Five drugmakers and distributors are offering $22 billion in cash as well as drugs and services they value at $28 billion to resolve lawsuits alleging the industry fuelled the U.S. opioid crisis, two sources familiar with the matter said on Wednesday.

8:21am IST

Australia's IOOF Holdings to pick ANZ pension assets cheaper, shares jump

Australia's IOOF Holdings said on Thursday it agreed on a cheaper purchase price for Australia and New Zealand Banking Group's pension assets, giving its shareholders another reason to rejoice after a landmark court case win last month.

8:20am IST

UPDATE 2-Australia's IOOF Holdings to pick ANZ pension assets cheaper, shares jump

* Deal expected to close in by Q1 2020 (Adds analyst comment, share performance, background on inquiry)

8:17am IST

UAW, GM leaders have a deal to end strike, now workers will decide

DETROIT General Motors Co and the United Auto Workers union reached a tentative agreement on Wednesday for a new four-year labour deal, moving closer to ending a costly month-long strike that shut down GM's most profitable factories in a test of wills over the future of U.S. auto industry jobs. | Video

6:58am IST

UPDATE 7-UAW, GM leaders have a deal to end strike, now workers will decide

DETROIT, Oct 16 General Motors Co and the United Auto Workers union reached a tentative agreement on Wednesday for a new four-year labor deal, moving closer to ending a costly month-long strike that shut down GM's most profitable factories in a test of wills over the future of U.S. auto industry jobs.

6:54am IST

UPDATE 4-Old, corroded pipe led to Philadelphia refinery fire -Chemical Safety Board

NEW YORK, Oct 16 An old, degraded piece of metal pipe that had not been tested for corrosion led to the June fire and explosions at the Philadelphia Energy Solutions oil refinery, the U.S. Chemical Safety and Hazard Investigation Board said on Wednesday.

TIMELINE-GM reaches tentative labor deal with UAW union to end strike

Oct 16 General Motors Co and the United Auto Workers union have reached a tentative agreement for a new labor deal to end a month-long nationwide strike by about 48,000 hourly workers, the union said on Wednesday.

16 Oct 2019

GM, UAW reach tentative deal to end month-long strike

DETROIT General Motors Co and the United Auto Workers union have reached a tentative deal for a new four-year labor deal, moving the sides closer to ending the month-long strike that had drawn the attention of U.S. President Donald Trump and potential Democratic rivals in the 2020 presidential election.

16 Oct 2019

Explainer: Translating TOR - How Brazil's $26 billion oil rights auction works

RIO DE JANEIRO Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area.

16 Oct 2019