Bill Passes & J&J Settles

Heyo, reader! We hope you’re having a good Thursday morning!

2️⃣ This Morning’s Two Reports:

• 📜 House Passes Antisemitism Bill

• 💵 Johnson & Johnson Agrees to $6.5 Billion Settlement

📊 Market Snapshot

• DOW: 🔼 0.23% (37,903.29)

• S&P 500: 🔽 0.34% (5,018.39)

• NASDAQ: 🔽 0.33% (15,605.48)

• BTC: 🔼 0.0089% (58,270.70)

• ETH: 🔽 0.096% (2,965.27)

📎 Market Clips

• Yen's rally sparks speculation of Japan's return to the FX market

_{*Stock numbers as of market close, cryptocurrency as of 8:20pm EST yesterday. Source for Market Clips.}

First Report

📜 House Passes Antisemitism Bill

The House of Representatives recently passed the Antisemitism Awareness Act, a significant piece of legislation aimed at addressing rising concerns over antisemitic incidents in educational settings. The bill, which garnered a bipartisan vote of 320-91, mandates the Department of Education to adopt the International Holocaust Remembrance Alliance's definition of antisemitism. This definition encompasses various forms of hatred toward Jews, including certain contentious views about the State of Israel and its policies. The decision comes amidst ongoing, heated protests across U.S. college campuses, primarily concerning the Israeli government's actions in Gaza, which some critics argue conflate legitimate critique with antisemitism. 🇮🇱🪧

TL;DR ⏳: Amidst widespread campus unrest, the House has passed a bill defining antisemitism for educational policy, sparking debate over free speech and the nature of anti-Israel protests.

Second Report

💵 Johnson & Johnson Agrees to $6.5 Billion Settlement

Johnson & Johnson has announced a plan to pay $6.5 billion to settle almost all U.S. lawsuits claiming that its talc-based products, including its once-popular baby powder, caused ovarian cancer. This settlement, to be distributed over 25 years, aims to resolve the legal disputes through the bankruptcy of its subsidiary, LTL Management. This strategy follows two unsuccessful attempts to use bankruptcy for lawsuit resolution. The decision reflects J&J’s commitment to addressing these claims, which have marred the company's financial standing and public image for years. 💵👨‍⚖️

TL;DR ⏳: Johnson & Johnson sets to finalize a massive $6.5 billion settlement to end the bulk of lawsuits alleging its talc products caused ovarian cancer, aiming for a clean slate in lengthy litigation.

⚡ Quick Hits

1. 🏛️ Arizona Senate votes to repeal 1864 near-total abortion law

2. 🌿 Senate Democrats bring back bill to legalize marijuana

3. 🚨 'Active shooter' situation neutralized near Wisconsin middle school, say officials

4. 🌈 United Methodist Church removes bans on LGBTQ clergy and same-sex marriages

5. 🇨🇴 Colombia plans to sever diplomatic relations with Israel

6. 🚗 Tesla's chief of HR departs amid wider staff changes

7. 🔍 Searchers in Mexico City uncover clandestine burial sites and children's belongings

8. 🕊️ Blinken urges Hamas for immediate ceasefire with Israel, declares 'the time is now'

9. 🍔 Notable consumer downturn impacts major chains like Starbucks and McDonald's

10. 🚙 Carvana shares soar 30% following a record-breaking first quarter

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