What cases is Purdue caught up in and who else is involved and what happens next? Here’s what you need to knowPurdue Pharma, the maker of the controversial prescription painkiller OxyContin, has filed for bankruptcy in federal court. The move is part of a tentative agreement it says will provide $10bn to resolve an avalanche of lawsuits against it by American cities, counties and states that blame Purdue for igniting the deadly US opioids crisis.But a group of states led by Massachusetts, New...

An attempt by contract workers to unionize has brought the city’s industrial past crashing into the 21st centuryThe first time Nabisco tried to close its Pittsburgh factory in 1982, a coalition of labor unions and politicians successfully fought back, preserving hundreds of jobs and the smell of baking cookies in the city’s East Liberty neighborhood. Sixteen years, three free-market presidents and numerous international trade deals later, Nabisco successfully shuttered the plant for good, lay...

Board is to discuss his future after questions over behaviour and cancelled flotationThe board of WeWork was expected to meet on Monday to discuss the future of the company’s co-founder and chief executive, Adam Neumann, after it emerged he is under pressure to step down from the top job.Several board members, including representatives of the firm’s biggest investor, Japan’s SoftBank, are understood to be pressing Neumann to demote himself from chief executive to vice-chairman. The company wa...

Australian government asked to intervene on behalf of Australian honey producersThe New Zealand government is supporting an industry push to trademark manuka honey in China and shut Australia out of the market.Manuka honey is a highly-prized commodity across the world, particularly China, for its antibacterial properties. Continue reading...

Chief executive of insurance market says results of survey are ‘stark and totally unacceptable’The Lloyd’s of London boss has described as “truly terrible” the findings of a survey which showed that nearly 500 people working in the insurance market have either suffered or observed sexual harassment in the past 12 months.The survey, conducted by the Banking Standards Board on behalf of Lloyd’s after news reports of bullying and harassment, found that “the experience of women is much less posit...

Executive to step down at troubled office rental company after plans for an initial public offering were scrapped last monthWeWork founder Adam Neumann stepped down as chief executive of the troubled office rental company on Tuesday after shelving plans for a stock market listing.The Wall Street Journal first reported that Neumann was preparing to step down. In a statement Neumann said he was “proud of this team and the incredible company that we have built over the last decade”. Continue rea...

Pay hasn’t recovered from the 2008 crisis so staff work longer to fill the gap, boosting labour supply and limiting wage risesTurn the clock back a decade. The economy is just about to emerge from its worst recession in living memory. Since the start of 2008, output has contracted sharply quarter after quarter. The banks have been saved but the official unemployment rate has hit 8%, a 12-year high.Now imagine that you had a crystal ball which could foresee what would happen over the next 10 y...

One thing is clear: investors are constantly searching for serious growth names. These aren’t any old stocks with blink-and-you’ll-miss-it growth narratives. We’re talking about stocks in it for the long-haul, poised to climb higher and deliver returns in the years to come. For investors that have settled on this strategy, what’s the best way to find these tickers with growth prospects that go above and beyond? Our suggestion: make use of TipRanks. The platform’s Stock Screener tool simplifie...

(Bloomberg) -- Saudi Arabia put a preliminary valuation on its state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, short of the $2 trillion target set by Crown Prince Mohammed bin Salman in 2016.Aramco is seeking as much as $25.6 billion by selling a 1.5% stake. The company would raise $24 billion if the deal prices at the lower end -- just shy of the $25 billion raised by Alibaba Group Holding Ltd. -- currently the world’s largest IPO. With one third of the deal reserve...

(Bloomberg) --   It’s the most nettlesome problem in the quest to ditch fossil fuels: how can you get thousand-degree heat used in factory furnaces without pumping billions of tons of greenhouse gases into the atmosphere?Heat-intensive processes like steelmaking and oil refineries are the starting point for production of everything from cars to life-saving medicines. But fueling their ultra-high temperatures requires burning coal, oil and natural gas. That makes industry responsible for about...