Company news in brief

Sonangol settles Cobalt Energy dispute Angola’s state energy firm Sonangol said on Friday it made a US$350 million payment this month to Cobalt International Energy to settle a dispute over oil block sales.Cobalt had filed arbitration requests last year seeking in excess of US$2 billion due to the impact of failed extension talks on its attempts to sell offshore blocks 20 and 21 in Angola.Sonangol said in December the two companies had agreed on a settlement of US$500 million. The US$350 million payment it made on June 11 was the final installment, Sonangol said.-Nampa/ReutersPanasonic can consider more investment in TeslaPanasonic Corp would consider further investment in Tesla Inc’s so-called Gigafactory if requested by the US electric vehicle maker, an executive at the Japanese conglomerate said on Monday.The investment would come on top of the US$1.6 billion Panasonic is contributing to the automotive battery plant, which it jointly operates with Tesla in the US state of Nevada.“We would of course consider additional investment if we are requested to do so,” Yoshio Ito, chief of Panasonic’s automotive business, said at a media roundtable, responding to a question about the possibility of further investment, given the chance.-Nampa/ReutersNovartis chairman says Alcon worth US$20 billion-US$30 billionThe chairman of Swiss drugmaker Novartis expects Alcon to be valued at between US$20 billion and US$30 billion when the opthalmic devices unit is spun off to shareholders next year, he said in an interview with Finanz und Wirtschaft.“Just how much it’s ultimately going to be will be determined when we know how debt and other things will be quantified,” Joerg Reinhardt told the Swiss financial newspaper.Novartis announced on Friday it is spinning off the eye care surgical equipment and contact lens unit, with US$7 billion in annual revenue. The business no longer fits the drugmaker’s strategy of focusing on prescription medicines, Novartis concluded.-Nampa/ReutersMissouri appeals court tosses US$55 million J&J talc-powder verdictA Missouri appeals court on Friday threw out a US$55 million verdict against Johnson & Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using talc-based products, including J&J’s baby powder, citing a US Supreme court ruling on where such cases can be brought.South Dakota resident Gloria Ristesund had been awarded US$5 million in compensatory damages and US$50 million in punitive damages in the 2016 verdict.She alleged that her decades-long use of J&J talc-based products for feminine hygiene caused her cancer, and that the company had failed to warn consumers about the risks.-Nampa/ReutersIn farewell to US shoppers, Toys 'R' Us urges 'Play on!'As Toys “R” Us Inc stores across the United States marked their final day in business on Friday, the bankrupt toy retailer posted a farewell message to customers on its website next to an image of its iconic Geoffrey the Giraffe mascot thanking them and urging them to “Play on!”“Thanks to each of you who shared your amazing journey to (and through) parenthood with us, and to every grandparent, aunt, uncle, brother and sister who’s built a couch-cushion rocket ship, made up a hero adventure, or invented something gooey,” the message said.“Promise us just this one thing: Don’t ever grow up. Play on!” the message, playing on the company’s famous jingle, added.-Nampa/Reuters

Company news in brief

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Namibian Sun 2026-11-02

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Company news in brief

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Namibian Sun 2026-11-02

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