Business Briefs – September 8, 2019

China’s Trade With U.S. Shrinks As Tariff War Worsens

BEIJING (AP) – China’s trade with the United States is falling as the two sides prepare for negotiations with no signs of progress toward ending a tariff war that threatens global economic growth.

Imports of American goods tumbled 22% in August from a year earlier to $10.3 billion, customs data showed Sunday. Exports to the United States, China’s biggest market, sank 16% to $44.4 billion.

As Feds Loom, States Hit Facebook, Google With New Probes

WASHINGTON (AP) – Two groups of states are targeting Facebook and Google in separate antitrust probes, widening the scrutiny of Big Tech beyond sweeping federal and congressional investigations into their market dominance. New York Attorney General Letitia James is leading the probe into Facebook. She says, “Even the largest social media platform in the world must follow the law and respect consumers.” Facebook says it plans to “work constructively” with her.

Generic Drugmaker Mallinckrodt Settles 2 Opioid Lawsuits

CLEVELAND (AP) – Mallinckrodt, one of the leading manufacturers of generic opioids, says it is settling lawsuits with two Ohio counties over the toll of its drugs. The company will pay a total of $24 million and donate products worth another $6 million. The deal with Cuyahoga and Summit counties means Mallinckrodt does not have to be one of the defendants in the first federal trial over the toll of opioids, scheduled for next month. The company faces hundreds of other lawsuits.