PRESS DIGEST – Wall Street Journal – May 20

May 20 (Reuters) – The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

– Johnson & Johnson , besieged by lawsuits, will stop selling baby powder made with talc in the U.S. and Canada, citing a decline in customer demand amid safety concerns about one of its most famous products.

– Facebook Inc is making a big push into online shopping through Facebook Shops, enlisting small businesses to sell their wares through its platform and giving them access to its technology at the same time the COVID-19 pandemic has upended business world-wide.

– Pyxus International Inc, one of the world’s largest suppliers of tobacco, has begun discussions with creditors about a possible bankruptcy filing as more Americans kick the habit and the coronavirus roils global trade, according to people familiar with the matter.

– Privately held Phlow Corp, a generic drugmaker said it was awarded $354 million in federal funding to make prescription drugs and their raw ingredients in the U.S., including some medicines used to treat patients infected with COVID-19.

– Joe Rogan is taking his podcast exclusively to Spotify Technology SA in a licensing deal worth more than $100 million, according to a person familiar with the matter. (Compiled by Bengaluru newsroom)

Source: Read Full Article