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Explainer: Will Bayer's proposed $7.25 billion Roundup deal bring legal closure?
Reuters· 2026-02-19 06:04
Group 1 - Bayer's Monsanto unit proposed a $7.25 billion nationwide class settlement to resolve current and future lawsuits alleging that Roundup caused cancer, aiming to end years of litigation [1] - The settlement would provide payments over up to 21 years, funding a claims program for individuals alleging Roundup exposure caused non-Hodgkin lymphoma, with individual payments varying based on age, exposure, and severity of cancer [1] - The settlement is designed to cover the majority of the existing 65,000 claims Bayer faces and also compensate future claimants diagnosed with non-Hodgkin lymphoma [1] Group 2 - Bayer can terminate the settlement if insufficient plaintiffs support it, but the number of required opt-ins has not been disclosed, leaving uncertainty about court approval [1] - Some law firms representing Roundup plaintiffs support the settlement, but others are still reviewing it, with at least one firm signaling opposition [1] - The lengthy claims program aims to address future cancer claims, with the company required to provide annual notices to alert potential future claimants [1] Group 3 - Bayer has a case before the U.S. Supreme Court that could impact the litigation landscape, as the court will decide if Bayer can be sued under state law for failing to warn about cancer risks associated with Roundup [1] - A favorable ruling for Bayer could eliminate thousands of claims, but plaintiffs may still pursue other liability theories, making the settlement necessary [1] - The proposed deal does not guarantee closure, as it could fall apart without sufficient support or court approval, and claimants can opt out to pursue their claims independently [1]
Airbus softens output goal amid Pratt & Whitney engine delays
Reuters· 2026-02-19 05:10
Core Viewpoint - Airbus has adjusted its jet production targets downward due to significant engine supply shortages from Pratt & Whitney, impacting its production goals and financial guidance for the upcoming years [1]. Group 1: Production Targets - Airbus now aims for a narrowbody output rate of 70 to 75 jets per month by the end of next year, stabilizing at 75 per month beyond 2027, down from a previous target of 75 jets per month in 2027 [1]. - The company has been in discussions with Pratt & Whitney regarding engine supply volumes for 2026 and 2027, which are typically agreed upon 18 months in advance [1]. Group 2: Financial Performance - In the fourth quarter, Airbus reported an adjusted operating profit of €2.98 billion, reflecting a 17% increase, while revenue rose by 5% to €25.98 billion [1]. - Analysts had anticipated a profit of €2.87 billion on revenues of €26.51 billion, indicating that Airbus exceeded expectations [1]. - For 2026, Airbus forecasts 870 jet deliveries, an increase from 793 in the previous year, with an adjusted operating profit projected at around €7.5 billion [1].
Microsoft says it does not think US ICE uses firm's tech for mass surveillance of civilians
Reuters· 2026-02-19 04:19
Core Viewpoint - Microsoft asserts that it does not believe the U.S. Immigration and Customs Enforcement (ICE) is using its technology for mass surveillance of civilians, despite reports indicating increased reliance on Microsoft's cloud services for operational data storage and analysis [1]. Group 1: Microsoft’s Position - Microsoft provides cloud-based productivity and collaboration tools to ICE and the Department of Homeland Security (DHS) [1]. - The company emphasizes that its policies prohibit the use of its technology for mass surveillance and expresses the belief that ICE is not engaged in such activities [1]. - Microsoft calls for clear legal guidelines from U.S. Congress and the executive branch regarding the use of emerging technologies by law enforcement [1]. Group 2: ICE's Operations - Reports indicate that ICE has more than tripled the amount of data stored in Microsoft's Azure cloud platform in the six months leading up to January 2026, coinciding with an increase in the agency's budget and workforce [1]. - ICE utilizes various forms of technology, including Microsoft's productivity and AI-driven tools, to assist in criminal investigations and arrests [1]. - The agency has refrained from commenting on specific investigative techniques or technologies used in ongoing operations [1]. Group 3: Context and Reactions - The scrutiny of ICE's operations has intensified amid criticisms from human rights advocates regarding the agency's practices and the broader implications of its actions under the Trump administration [1]. - Microsoft has previously faced backlash over its technology's use by governments, including a situation involving the Israeli military, which led to internal protests [1].
Apollo says CEO Rowan had no business or personal relationship with Epstein
Reuters· 2026-02-19 02:14
Core Viewpoint - Apollo Global Management's CEO Marc Rowan denies any business or personal relationship with Jeffrey Epstein, amidst ongoing scrutiny related to Epstein's past activities and correspondence with Apollo executives [1]. Company Statements - Apollo stated that neither Marc Rowan nor any other employee, except for Leon Black, had a relationship with Epstein [1]. - The company emphasized that the recent documents do not accuse Apollo or its executives of engaging in or being aware of Epstein's illicit activities [1]. - Apollo's response was prompted by teachers' unions requesting an SEC investigation into what they believe are misleading statements made by Apollo to its investors [1]. Historical Context - Leon Black, a co-founder of Apollo, left the company in early 2021 following a review of his ties to Epstein, which cleared him of wrongdoing [1]. - The review indicated that while Black attempted to introduce Epstein to his co-founders, no one else at Apollo seriously considered hiring Epstein [1]. Recent Developments - New documents reveal correspondence between Rowan's office and Epstein's office regarding at least five scheduled meetings, although it remains unverified if these meetings occurred [1]. - Apollo clarified that in certain instances, Rowan and other employees provided information to Epstein related to tax work for Black [1]. - Apollo stated that Epstein's attempts to work with the co-founders were declined consistently [1]. Broader Implications - The release of Epstein-related documents has led to increased scrutiny of Apollo's top officials, particularly in light of Epstein's past convictions and the ongoing fallout from his death [1]. - The American Federation of Teachers and the American Association of University Professors have expressed concerns regarding the implications of these documents for Apollo's leadership [1].
Vietnam airlines signs deal with Boeing for 50 737-8 jets
Reuters· 2026-02-19 01:58
Vietnam airlines signs deal with Boeing for 50 737-8 jets | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]An aircraft of the national flag carrier Vietnam Airlines taxis at Noi Bai airport in Hanoi, Vietnam December 23, 2020. Picture taken December 23, 2020. REUTERS/Kham/ File Photo [Purchase Licensing Rights, opens new tab]HANOI, Feb 19 (Reuters) - Vietnam Airlines [(HVN.HM), opens new tab] has signed an agreement with Boeing [(BA ...
Oil prices dip as investors assess trajectory of US-Iran tensions
Reuters· 2026-02-19 01:53
Core Viewpoint - Oil prices have decreased as investors evaluate the ongoing tensions between the U.S. and Iran, despite a recent 4% increase in prices due to concerns over potential supply disruptions [1] Oil Price Movement - Brent futures fell by 12 cents (0.2%) to $70.23 per barrel, while U.S. West Texas Intermediate (WTI) crude decreased by 8 cents (0.1%) to $65.11 per barrel [1] - Both benchmarks had previously settled over 4% higher, marking their highest settlements since January 30 [1] U.S.-Iran Tensions - Tensions between Washington and Tehran remain elevated, but the consensus is that a full-scale armed conflict is unlikely, leading to a cautious approach among investors [1] - U.S. President Donald Trump is reportedly not in favor of a significant rise in crude prices, and any military action is expected to be limited to short-term air strikes [1] Diplomatic Efforts - Progress was made in talks between the U.S. and Iran in Geneva, although significant issues remain unresolved [1] - Iran is expected to provide more details in the coming weeks regarding the negotiations [1] Military Activity - Iran has announced plans for rocket launches in southern areas, while the U.S. has deployed warships near Iran [1] - U.S. Vice President JD Vance indicated that Washington is considering whether to continue diplomatic efforts or explore alternative options [1] Inventory Reports - U.S. crude, gasoline, and distillate inventories have decreased, contrary to expectations of a rise in crude stocks by 2.1 million barrels [1] - Official U.S. oil inventory reports from the Energy Information Administration are anticipated [1]
Vietjet in $965 mln financing deal for purchase of 6 Boeing 737-8 aircraft
Reuters· 2026-02-19 01:06
Core Insights - Vietjet has signed a financing deal worth $965 million with Griffin Global Asset Management for the acquisition of 6 Boeing 737-8 aircraft, marking a strategic move to diversify its international funding sources [1] Company Summary - Vietjet is a Vietnamese budget airline that is actively expanding its fleet through significant financing agreements [1] - The deal represents a crucial step in Vietjet's strategy to enhance its financial flexibility and operational capacity [1]
Traffic disrupted at Newark airport after JetBlue engine failure
Reuters· 2026-02-18 23:46
Group 1 - JetBlue flight experienced an engine failure during takeoff, leading to a return to Newark Liberty International Airport [1] - Passengers and crew evacuated the Airbus A320 via slides after smoke was reported in the cockpit, with no injuries reported [1] - The Federal Aviation Administration (FAA) has paused some arrivals to the airport and will conduct an investigation into the incident [1]
US DOJ probes Warner Bros' planned sale impact on theaters, Bloomberg News reports
Reuters· 2026-02-18 23:37
Core Viewpoint - The U.S. Justice Department is engaging with major theater chains regarding the potential implications of a sale of Warner Bros Discovery [1] Group 1 - The discussions are private and focus on the impact that the sale could have on the theater industry [1] - Major theater chains are being summoned, indicating the significance of the potential sale in the market [1]
Meta reboots smartwatch plan, aims debut in 2026, the Information reports
Reuters· 2026-02-18 23:28
Meta reboots smartwatch plan, aims debut in 2026, the Information reports | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]The logo of Meta is seen during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 12, 2025. REUTERS/Benoit... [Purchase Licensing Rights, opens new tab] Read more- Companies[EssilorLuxottica SA]Follow[Meta Platforms Inc]FollowFeb 1 ...