Author: HeraldStar

Johnson & Johnson is making its third attempt to resolve tens of thousands of lawsuits alleging its baby powder and other talc products cause cancer, with its subsidiary, Red River Talc, filing for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. This move is part of an $8 billion proposed settlement to end litigation, with J&J denying allegations that its products are contaminated with asbestos and cause ovarian and other cancers. The company faces lawsuits from over 62,000 claimants, but has secured support from about 83% of current claimants for the proposed bankruptcy plan ¹. J&J’s…

The U.S. Energy Department said Friday it plans to award $3 billion to 25 battery manufacturing sector projects in 14 states as the Biden administration works to shift the supply chain away from China. The projects will increase domestic production of advanced batteries and battery materials and follows the adoption of U.S. EV tax credit rules to shift battery production and critical minerals away from China. The awards fund battery-grade processed critical minerals, components, battery manufacturing, and recycling, and will generate $16 billion in total investment for the projects and support 12,000 production and construction jobs, the department said. “Mineral security is…

In a groundbreaking partnership, Constellation Energy and Microsoft have signed a power deal to resurrect Unit 1 of the iconic Three Mile Island nuclear plant in Pennsylvania. This ambitious project marks the first-ever restart of its kind, with the goal of providing clean and reliable energy to power Microsoft’s data centers. The agreement is a significant response to the surging demand for electricity driven by the expansion of artificial intelligence and cloud computing technologies. Nuclear energy, being nearly carbon-free and more reliable than solar and wind power, has emerged as a preferred option for tech giants seeking uninterrupted power and…

China and Japan have reached a landmark agreement over the discharge of wastewater from the wrecked Fukushima nuclear plant, paving the way for the potential restart of seafood shipments from Japan to China. This development comes after Beijing imposed a year-long ban on Japanese seafood imports, citing concerns about radioactive contamination following Tokyo Electric Power’s release of treated water from the Fukushima plant into the Pacific Ocean. Under the agreement, Japan will establish a long-term international monitoring arrangement, allowing stakeholders to conduct independent sampling and monitoring. Japanese Prime Minister Fumio Kishida stated that Japan is ready to conduct additional monitoring…

President Volodymyr Zelensky emphasized the critical role of timely decisions from Ukraine’s allies, particularly the United States, in securing victory over Russia. During a joint press conference with European Commission President Ursula von der Leyen, Zelensky highlighted the significance of US President Joe Biden’s support. Zelensky revealed plans to utilize a proposed multi-billion-dollar EU loan for air defense, energy, and domestic weapons purchases. He stressed that most decisions depend on Biden’s goodwill and US backing, alongside other allies. The Ukrainian leader has provided regular updates on the plan’s preparation, aiming to establish favorable terms after over two years of conflict.…

In a significant escalation of the year-long conflict between Israel and Hezbollah, an Israeli airstrike on Beirut Friday killed top Hezbollah commander Ibrahim Aqil and other senior figures. The Israeli military confirmed Aqil’s death, describing him as the acting commander of the Radwan special forces unit. According to Lebanese sources, Aqil sat on Hezbollah’s top military council. The airstrike, which targeted a meeting of senior Hezbollah commanders, killed 12 people and wounded 66 others, with nine in critical condition. Rescue teams searched for people trapped under rubble as drones continued to fly over Beirut’s southern suburbs. Prime Minister Benjamin Netanyahu…

The United States is poised to unveil a substantial military aid package for Ukraine, valued at $375 million, marking a significant shift from the smaller packages provided in recent months. This critical assistance comes as Russia intensifies its attacks on Ukraine’s energy grid, heightening concerns ahead of the crucial winter months. The package, expected to be formally announced next week, will include vital equipment such as patrol boats, additional ammunition for High Mobility Artillery Rocket Systems (HIMARS), artillery ammunition, spare parts, and other essential weapons ¹. Notably, this package surpasses the $275 million threshold, the largest since May, utilizing the…

The United States is poised to unveil a substantial weapons package for Ukraine as early as next week, but due to inventory shortages, the delivery of these arms may be delayed. With only $5.9 billion remaining in Presidential Drawdown Authority for Ukraine, which expires in less than two weeks, the Pentagon is under pressure to utilize these funds before they lapse ¹. This authority has been crucial in supplying Ukraine with arms and equipment directly from American stockpiles. The impending package is expected to be significantly larger than previous announcements, which have hovered around $200 million in recent months. It…

A devastating attack by the Al-Qaeda-linked group Jama’at Nusrat al-Islam wa al-Muslimeen (JNIM) on Mali’s capital Bamako has left over 70 people dead and hundreds injured, according to diplomatic and security sources. The assault, which targeted an elite police training academy and the nearby airport, has sent shockwaves through the West African nation. The attack occurred on Tuesday, with JNIM claiming responsibility. A security source, speaking on condition of anonymity, reported 77 people killed and 255 injured. An authenticated confidential official document put the toll at about 100, identifying 81 victims. Mali has been grappling with an armed uprising that…

By Qaiser Nawab China’s Ministry of Commerce recently announced the findings of its anti-dumping investigation into European Union (EU) brandy imports, particularly focusing on French cognac. The investigation, initiated in response to concerns about unfair trade practices, revealed that EU brandy is being sold in China at prices significantly lower than those in Europe, which poses a potential threat to China’s domestic industry. Despite these findings, China has chosen not to impose immediate anti-dumping duties, a decision that reflects a balanced and strategic approach to managing its trade relations with the EU. The Ministry of Commerce conducted a thorough analysis,…