News In Brief

A San Francisco jury awarded a former smoker $50 million in punitive damages in her lawsuit against cigarettemaker Philip Morris, bringing the total judgment in her case to $51.5 million. A day earlier, the jury ordered the company to pay $1.5 million in compensatory damages to Patricia Henley, who has been diagnosed with cancer, to cover medical expenses, plus pain and suffering. The overall award was the largest to date in a tobacco liability suit filed by an individual. Other awards have been overturned on appeal. The plaintiff had requested a settlement of $15 million.

By the end of next month, 15 struggling banks in Japan will receive $66 billion in taxpayer funds to help ease their difficulties, Tokyo newspapers reported. Formal notification of the move is expected today from the government's Financial Restructuring Committee, under terms of legislation OK'd by parliament last October. The largest chunk - $8.85 billion - will go to Fuji Bank Ltd., the reports said. The 15 banks, and numerous other lenders, have been waging an uphill battle to write off uncollectible loans since Japan's economic boom collapsed in the late 1980s, leaving little money to lend to businesses now.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK