U.S. Stock Index Futures Steady After S&P 500 Hits Record on Strong Economic Data 
Italy Fines Apple €98.6 Million Over App Store Dominance 
Gold Prices Surge to Record Highs as Geopolitical Tensions Fuel Safe-Haven Demand 
GLP-1 Weight Loss Pills Set to Reshape Food and Fast-Food Industry in 2025 
Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally 
Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
Novo Nordisk Stock Surges After FDA Approves Wegovy Pill for Weight Loss 
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
California Regulator Probes Waymo Robotaxi Stalls During San Francisco Power Outage 
Uber and Baidu Partner to Test Robotaxis in the UK, Marking a New Milestone for Autonomous Ride-Hailing 
Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy 
Johnson & Johnson received unfavorable news for the company on Tuesday, June 1, after the Supreme Court rejected its appeal for the cancellation of a court decision where it was ordered to pay $2.1 billion in penalty.
The case against Johnson & Johnson is about the allegations the asbestos in its talc powder caused cancer in women, specifically many have reportedly developed ovarian cancer. The talc powder products also include the baby powder that has been around since 1893.
The Supreme Court upheld the penalty order
The high court announced without any kind of argument that it will not hear the case thus the penalty will not be scrapped. According to the order, Justices Samuel Alito and Brett Kavanaugh recused or disqualified themselves from consideration of the case.
CNBC reported that Johnson & Johnson made a request for the Supreme Court to assess the penalty it received after the amount was sustained by the Missouri Supreme Court in 2020. Although the amount is high, this was already reduced from the initial $4 billion.
The company that develops medical devices, pharmaceuticals and consumer packaged goods stated it is facing over 21,000 lawsuits for the talc products. Thus, in May 2020, Johnson & Johnson shared that it has already halted the selling of talc-based baby powder in Canada and the United States.
The company cited lower demand for the said item due to the spread of misinformation concerning the talc powders’ safety. It added the legal cases have also negatively affected the brand.
J&J’s response to the decision
In any case, J&J’s appeal for the Supreme Court to review its penalty was turned down and the opponent’s lawyer’s argument played a role. Ken Starr, a former Whitewater prosecutor who is representing the women who sued Johnson & Johnson, wrote in his brief that the justices should not review the case because, for decades, the company has been aware that their talc powders are made with asbestos as one of its ingredients. The substance is said to be “highly carcinogenic with no known safe exposure level.”
Finally, Reuters reported that J&J said the decision left unresolved legal issues and maintained that its baby powder is safe. The company reiterated there are scientific evaluations that prove the “product is safe, does not contain asbestos, and does not cause cancer."
