Press Digest-Wall Street Journal - July 28

Babycare product maker Johnson & Johnson agreed to pay $5.5 billion to resolve outstanding lawsuits that alleged the company’s talc products caused ovarian cancer, with the agreement conditioned on 95% of remaining claimants participating.

Iran and Oman worked to reach an arrangement for safe passage of ships through the Strait of Hormuz amidst a lull in fighting between the U.S. and Iran.

Kuwait Petroleum and Kuwait Oil signed a $16 billion pipeline lease agreement, involving all of the country’s domestic and export pipelines, with investors led by Blackstone, Brookfield and KKR.

American restaurant chain Cracker Barrel CEO Julie Masino stepped down from her role and will be succeeded by former Bloomin’ Brands CEO David Deno on August 10.

Ford secured a Defense Department contract to develop three truck prototypes based on its F-Series super-duty pickups, as the Pentagon pushes automakers to help modernize and replenish military hardware depleted by wars in the Middle East and Ukraine.