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Sanofi has reached an agreement in principle to settle 4,000 US lawsuits linking the discontinued heartburn drug Zantac to cancer, the company said on Wednesday. Sanofi did not disclose the financial terms of the deal. The agreement, which still needs to be finalized, will resolve most of the lawsuits against the French pharmaceutical company in US state courts, with the exception of Delaware where the majority of the cases are pending. Sanofi did not admit any liability in the settlement, and said it is settling to avoid the expense and ongoing distraction of the litigation. “Sanofi has vigorously defended the Zantac litigation since the outset and will continue to do so,” the company said in a statement. Sanofi still faces about…

Check out the companies making headlines in midday trading. Altice USA — The cable television firm tumbled more than 12% after Wells Fargo downgraded the stock to underweight from equal weight. The bank is now skeptical on Altice’s merger and acquisition prospects, analyst Steven Cahall wrote. Tesla — The electric vehicle maker lost nearly 2% after Reuters reported its long-promised plans for a low-cost car amid competition from Chinese EV makers. Investors had been counting on the entry-level car to propel its growth into a mass-market automaker. CEO Elon Musk responded to the report on social media platform X ,…

Two decades ago, Seth Berkowitz was a college student with a late-night craving for a “warm, delicious treat.”Today, he’s the CEO of Insomnia Cookies, the company he co-founded as a college junior and grew into a chain with more than 260 locations by satisfying that very craving for customers around the world. Insomnia was most recently reportedly valued at more than $500 million, following a 2018 majority-stake acquisition by Krispy Kreme.It brought in over $200 million in revenue last year, according to the company. “I just thought a warm cookie worked,” Berkowitz, 43, tells CNBC Make It. “It was a…

As the cost of living continues its journey upward, consumers are finding this tough to deal with, according to a Bread Financial survey. Fifty-seven percent of survey respondents said their financial goals would be more difficult to meet than in other years, and 64% cited the cost-of-living increase as their top concern, while 47% blame inflation. Different generations handle this uncertainty differently. Nearly half of Baby Boomers plan to cut back on spending to make ends meet, while 39% plan to focus on paying down debt. All respondents agree with cutting back in order to save more money. Forty-one percent of…

A growing number of Americans are falling behind on their car payments, an ominous sign for the U.S. economy as high auto prices and stubborn inflation strain household budgets. Car loan delinquencies tumbled in the early days of the pandemic as the government sent trillions in stimulus money to American homes and businesses. However, delinquencies have progressively ticked higher as sky-high prices for used and new cars alike forced consumers to take out bigger loans and drain their savings accounts.At the end of December, about 7.69% of auto debt moved into delinquency — the highest level since 2010, according to…

The White House on Wednesday announced that President Biden has canceled another $1.2 billion in student loan debt for more than 150,000 borrowers earlier than expected. In an executive action that was originally planned for July, Biden has activated a Savings on Valuable Education (SAVE) plan policy that cancels debt for enrolled borrowers who have been in repayment for at least 10 years and hold $12,000 or less in student loan debt. Those with larger debts will receive relief after an additional year of payments for every additional $1,000 they borrowed. “This shortened time to forgiveness will particularly help community college…

Inflation is up yet again, largely due to rising gas prices and housing costs. For the last 12 months, the Consumer Price Index (CPI) for all items increased by 3.2%, the U.S. Bureau of Labor Statistics reported. This is up slightly from the 3.1% increase last month. On a monthly basis, CPI increased 0.4 percentage points in February. This increase comes after the index rose by 0.3 percentage points in January.The shelter index and gasoline index are responsible for most of February’s CPI increase. Combined, they account for 60% of the monthly increase. The shelter index rose by 0.4% while…

By Aishwarya Jain, Doyinsola Oladipo and Anirban Sen (Reuters) -Choice Hotels International on Monday scrapped its nearly year-long pursuit of rival Wyndham Hotels & Resorts (NYSE:), after repeated rejections and failing to garner enough support from Wyndham’s shareholders for its hostile bid. Choice said its exchange offer to buy Wyndham’s shares has expired and it is withdrawing its nominations of director candidates for Wyndham’s board. Choice first approached Wyndham in April last year and disclosed its cash-and-stock offer in October. Based on the closing share price of the companies on Friday, the offer was worth $89 per share, or about…

Many of us in families with aging loved ones have had brushes with a mentally ill family member. As our medical system for addressing and treating mental illness is is clearly broken, the worst effects of these illnesses can wreak havoc as the parents age. When chronic mental illness is present, things can get frightening and dangerous. Are there any solutions? Facts From A Case Study In this real-life scenario, Aging Mom (AM) and Aging Dad (AD) are providing a home for their mentally ill son, his wife and three kids. Son and wife are both unemployed and dependent on…