Top News & Analysis Cleveland

  • Aug 20- Endo International Plc and Allergan Plc have agreed to pay $15 million to avoid going to trial in October in a landmark case by two Ohio counties accusing various drug manufacturers and distributors of fueling the U.S. opioid epidemic. Endo announced said it had reached an agreement-in-principle to pay Cuyahoga and Summit counties $10 million to and...

  • Aug 20- Endo International Plc on Tuesday said it had agreed to pay $10 million to avoid going to trial in October in a landmark case by two Ohio counties accusing various drug manufacturers and distributors of fueling the U.S. opioid epidemic. Endo said as part of the agreement-in-principle it had reached with Cuyahoga and Summit counties, it had also agreed to...

  • District Judge Dan Polster during a hearing in Cleveland, Ohio said that while the idea was unprecedented, it could allow companies accused of fueling the epidemic in nearly 2,000 lawsuits before him an ability to obtain "global peace." Paul Singer, a lawyer with the Texas Office of the Attorney General, said the plan also interfered with the states' ability to...

  • Aug 6- A federal judge on Tuesday expressed support for a novel plan by lawyers representing cities and counties suing drug companies over the U.S. opioid epidemic that would bring every community nationally into their settlement talks despite objections from most states. District Judge Dan Polster during a hearing in Cleveland, Ohio said that while the idea...

  • WASHINGTON, July 17- The U.S. economy continued growing at a "modest" rate in recent weeks, with consumers continuing to spend and a "generally positive" outlook overall even in the face of disruptions caused by U.S. trade policy, the Federal Reserve reported on Wednesday. The report noted emerging weakness in business for transport companies, trade-related...

  • WASHINGTON, June 26- The U.S. Supreme Court in its term that concludes this week was not quite as business friendly as it has been in recent years, with President Donald Trump's appointee Brett Kavanaugh writing a pivotal one of the batch of rulings that defied corporate interests. He joined the court's four liberal justices in a 5-4 ruling in May that let a class...

  • NEW YORK, June 18- Mortgage rates are nearing historic lows again in the United States, making it an ideal time to buy a home- or refinance. "Its amazing how many times a once-in-a-lifetime opportunity comes around," said Keith Gumbinger, vice president of hsh.com, a mortgage information website. Some 6.8 million borrowers currently could benefit from a refinance,...

  • LONDON, June 18- Electricity supplies across Argentina, Uruguay and parts of Paraguay were blacked out for several hours on Sunday when the regional power grid suffered a cascading failure. But earlier at the weekend, the New York Times revealed the United States had hacked into Russias grid and was ready to carry out an offensive cyberattack.

  • The proposal came in a motion filed in federal court in Cleveland, Ohio, where 1,850 lawsuits largely by local governments are pending seeking to hold companies, including OxyContin maker Purdue Pharma LP, responsible for the opioid abuse crisis. District Judge Dan Polster, who presides over the cases, for a comprehensive settlement that addresses the...

  • PASIR GUDANG, Malaysia/ JOKHABAD, India, May 31- W hen local investigators scoured a riverbed in southern Malaysia for clues in a chemical dumping case that hospitalized over one thousand people earlier this year, they found a cocktail of toxins, including a colorless liquid commonly secreted when tires are recycled. That led environment officials and police to...

  • Opioids, including prescription painkillers and heroin, played a role in a record 47,600 U.S. overdose deaths in 2017, according to the U.S. Centers for Disease Control and Prevention. The nonjury trial will be heard by Cleveland County District Judge Thad Balkman in Norman, Oklahoma. *The lawsuits allege drug manufacturers like Purdue, Johnson& Johnson, Teva and...

  • Opioids, including prescription painkillers and heroin, played a role in a record 47,600 U.S. overdose deaths in 2017, according to the U.S. Centers for Disease Control and Prevention. The nonjury trial will be heard by Cleveland County District Judge Thad Balkman in Norman, Oklahoma. *The lawsuits allege drug manufacturers like Purdue, Johnson& Johnson, Teva and...

  • BOSTON/ JERUSALEM, May 26- Teva Pharmaceutical Industries said on Sunday it had agreed an $85 million settlement with the state of Oklahoma days before the company was set to face trial over allegations that it and other drugmakers helped to fuel the U.S. opioid epidemic. Oklahoma Attorney General Mike Hunter has alleged that J&J and Teva, along with OxyContin...

  • CLEVELAND FED'S MESTER SAYS INTEREST RATES APPROPRIATE WHERE THEY ARE.

  • CLEVELAND FED PRESIDENT LORETTA MESTER SAYS FULLY SUPPORT PATIENT APPROACH TO LOOK AT DATA- CNBC INTERVIEW.

  • SAN FRANCISCO/ NEW YORK, April 24- Despite new criticism from top Democrats for comments denigrating women and the Midwest, economic commentator Stephen Moore still has the backing of U.S. President Donald Trump for a seat at the Federal Reserve Board. "Steve Moore is in," White House economic adviser Larry Kudlow said on Fox Business Network, adding that once the...

  • SAN FRANCISCO/ NEW YORK, April 24- Stephen Moore, the economic commentator that U.S. President Donald Trump has said he will nominate to the Federal Reserve Board, is drawing new fire from top Democrats for his comments denigrating, among other targets, women and the Midwest. But Republicans, whose 53 to 47 majority in the U.S. Senate gives them the final say on whether...

  • April 12- General Electric Co will pay a $1.5 billion civil fine to resolve a long-running U.S. probe into defective subprime mortgages from its former WMC Mortgage unit prior to the 2008 global financial crisis. The U.S. Department of Justice on Friday said the accord resolves claims that GE concealed the poor quality of the loans and WMC's lax fraud controls...

  • April 7- A physician ally of Purdue Pharma LP whose views helped drive the explosive growth in the use of addictive pain relievers for common aches and pains in the United States has agreed to testify against the OxyContin maker and other drug companies, newly disclosed court records show. Russell Portenoy, a professor at the Albert Einstein College of Medicine,...

  • April 5- Bank of America Corp said on Friday that more than half of its branch network will be modernized over the next three years to respond to changing consumer behavior. "We have been very encouraged by the initial results of our center redesigns and expansions," Aron Levine, head of Consumer Banking& Investments for Bank of America told Reuters.