Gold Price Holds Near $4,400 as Hormuz Risks and CPI Drive Markets 
Australia Sets New Minimum Pay, Insurance Rules for Gig Workers 
Oil, Gold Rise as Geopolitical Risks Grip Markets Ahead of U.S. CPI 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
U.S. Stock Futures Flat Ahead of July CPI Data 
Apple Tests China’s CXMT Memory Chips for iPhones and MacBooks Amid AI Supply Crunch 
UK Retail Sales Rise as World Cup and Heatwave Boost Food, Pubs and Clothing 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Airbus Joins Air India A320 Altitude Drop Probe 
Sony, TSMC Eye $6.3 Billion Japan Chip Venture for Next-Gen Image Sensors 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Berkshire Hathaway Cash Falls as Abel Boosts Stock Buybacks 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
ADNOC Gas Targets Up to $4B Profit in 2026 
Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
Trump Media Says Truth API Draws 10+ Customers as Conflict Concerns Grow 
Johnson & Johnson announced it would stop selling its talc-based baby powder around the world starting next year. The New Jersey-based pharmaceutical industry company further revealed that it would be replacing the discontinued product with cornstarch-based powder.
According to CNN Business, Johnson & Johnson already halted the sale of its talc-based powder in Canada and the United States in 2020 as it has been facing thousands of lawsuits due to claims that its talcum powder caused ovarian cancer in women.
Thousands of women who have developed cancer of the ovary have sued the company. They claimed to have been using the talc-based powder regularly, and the use caused them to be afflicted with the dreaded disease.
In the lawsuits, women alleged that the asbestos in the Johnson & Johnson talcum powder causes cancer. In 2018, the jury in a St. Louis court awarded $4.7 billion to the complainants and their families. The company lost the case when the court said it was negligent and failed to warn consumers about potential health risks from the use of its baby powder.
It was noted that many other talcum powder brands had put warnings on their labels. However, Johnson & Johnson did not, and for this, it argued that such a label would be confusing. Moreover, there were scientific studies that showed an increased risk of ovarian cancer in women who use talc in their genital area, although others do not.
In any case, despite the announcement that it will no longer sell talcum powder, Johnson & Johnson still insisted that its baby powder is safe and does not cause cancer. It stated that it is still confident in the safety of the product but will be pulling them out from the market as part of a "worldwide portfolio assessment."
"We continuously evaluate and optimize our portfolio to best position the business for long-term growth," Johnson & Johnson said in a statement. "This transition will help simplify our product offerings, deliver sustainable innovation, and meet the needs of our consumers, customers and evolving global trends."
The company added, "Our position on the safety of our cosmetic talc remains unchanged and we stand firmly behind the decades of independent scientific analysis by medical experts around the world that confirms talc-based Johnson's Baby Powder is safe, does not contain asbestos, and does not cause cancer."
