Johnson & Johnson Proposes $5.5 Billion Talc Settlement; Shein Hits Losses

Johnson & Johnson has proposed a $5.5 billion settlement to resolve thousands of long-running lawsuits alleging that its talc-based baby powder caused cancer. The offer is part of the company's broader strategy to use a bankruptcy filing for a subsidiary to consolidate and settle all current and future claims. While the company maintains that its products are safe and do not contain asbestos, it seeks to end the legal uncertainty that has weighed on its valuation for years.

In other corporate news, the fast-fashion giant Shein reported a $99 million loss as new US tariffs under the Trump administration begin to bite. The financial hit comes at a critical time for the company as it prepares for a highly anticipated stock market debut in Hong Kong. Meanwhile, in the energy sector, Sabine Pass in Louisiana has officially become the world's largest exporter of liquefied natural gas (LNG), marking a dramatic transformation for a community that was nearly wiped out by Hurricane Rita two decades ago.