Photo: Mark Ralston/AFP via Getty Images

Johnson & Johnson will only have to pay $465 million for its role in the state's opioid crisis as of Friday, instead of the original $572 million judgment, after the Oklahoma judge overseeing the case admitted he made a math error in the abatement plan.

The big picture: Oklahoma maintained its verdict that J&J created a public nuisance by falsely promoting its opioids as safe and necessary, and J&J still plans on appealing the decision, despite the lower amount.

Go deeper: Johnson & Johnson's legal bills keep mounting

Go deeper

U.S. economy sees record growth in third quarter

Shoppers carrying Forever 21 bags in Times Square. Photo: Alexi Rosenfeld/Getty Images

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Kendall Baker, author of Sports
1 hour ago - Sports

A look inside sports owners' political donations

Data: ESPN/FiveThirtyEight; Chart: Axios Visuals

Sports team owners in the four largest North American leagues (NFL, NBA, MLB, NHL) have donated over $46 million in federal elections since 2015, according to research conducted by ESPN and FiveThirtyEight.

By the numbers: Over the past three elections, $35.7 million of that money (77.4%) has gone to Republican campaigns and super PACs, compared to $10.4 million (22.6%) to Democrats.