Category: Blog
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Johnson & Johnson places talc liability entity into bankruptcy
The healthcare company said Thursday that a corporate affiliate holding talc-related liabilities had filed for chapter 11 protection “to resolve all claims related to cosmetic talc in a manner that is equitable to all parties, including any current and future claimants.” The chapter 11 filing makes J&J the latest company to turn to chapter 11…
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Microsoft shuts down LinkedIn in China
Microsoft could not continue to comply with the increasing restrictions on speech in China and therefore is closing LinkedIn in China. China is continuing to close itself off to the world. LinkedIn, in a statement Thursday, said that it made the decision after “facing a significantly more challenging operating environment and greater compliance requirements in…
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Walgreens closing five stores in San Francisco
The crime problem in San Francisco and California as a whole continues to cause retailers problems. Walgreens Boots Alliance Inc. has announced that it will close five Walgreens stores in San Francisco in response to the rise in organized retail crime. Walgreens says it will move prescriptions and workers from the shuttered stores to nearby…
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Natural gas shortages force shift to oil
Soaring natural-gas and coal prices are pressuring power-generation companies and manufacturers to switch to using oil, a trend that could add half a million barrels a day to global demand, the International Energy Agency said Thursday. In its monthly market report, the IEA increased its global oil-demand forecasts for this year and the next by…
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FDA says Johnson & Johnson ($JNJ) COVID-19 booster bolsters immune system
A booster of Johnson & Johnson’s Covid-19 vaccine showed signs of significantly bolstering the immune defenses of study subjects, federal health regulators said Wednesday. The regulators cautioned, however, that data was limited and they had to rely on J&J’s own analysis for some of the study findings, rather than conducting their own. The Food and Drug…
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CIBC announces $450 Million fund focused on Venture Capital and Growth Equity funds
Over the past three years, CIBC has made financial commitments as a Limited Partner to 12 Canadian-based venture capital and growth equity funds, covering every stage of the entrepreneurial lifecycle. The underlying fund strategies have included woman-led startups, Fintechs, disruptive tech and early stage software companies. These financial commitments are above and beyond CIBC’s previously-announced…