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Clearlake Capital explores sale of Team Technologies for more than $1 bln – sources

Reuters
NEW YORK, June 29 (Reuters) – Private equity firm Clearlake Capital Group is exploring a sale of medical products manufacturer Team Technologies Inc for more than $1 billion, including debt, according to people familiar with the matter. Clearlake Capital is working with an investment bank on a sale process for......

U.S. FDA classifies recall of GE’s ventilator batteries as most serious

Reuters
June 28 (Reuters) – U.S. health regulators on Tuesday classified the recall of some backup batteries of GE Healthcare’s ventilators, which the company had initiated in mid-April, as the most serious type, saying that their use could lead to injuries or death. The CARESCAPE R860 ventilator’s backup batteries, including replacement......

Akzo Nobel names Poux-Guillaume as new chief executive

Reuters
Cans of Dulux paint, an Akzo Nobel brand, are seen on the shelves of a hardware store near Manchester, Britain, April 24, 2017. REUTERS/Phil Noble/File Photo Register now for FREE unlimited access to Reuters.com Register June 28 (Reuters) – Dulux paint maker Akzo Nobel (AKZO.AS) has named French businessman Gregoire......

Toshiba board gains two directors from activist funds in historic shift

Reuters
TOKYO, June 28 (Reuters) – Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday – an inclusion that is expected to add momentum to its exploration of potential buyout deals. Nabeel Bhanji, a senior portfolio manager at Elliott......

Bausch Health suspends plans for Solta IPO

Reuters
June 16 (Reuters) – Bausch Health Companies Inc (BHC.TO) said on Thursday it was suspending plans for the initial public offering of its unit Solta Medical due to challenging market conditions. It has been a gloomy year for U.S. capital markets, with IPO-bound Reddit Inc and Mobileye, the self-driving car......

Sanctions-hit Kremlin stages ‘Russian Davos’ bereft of elite, Putin speaks Friday

Reuters
Flags with the St. Petersburg International Economic Forum (SPIEF) logo fly near the St. Isaac’s Cathedral in Saint Petersburg, Russia June 14, 2022. REUTERS/Maxim Shemetov Register now for FREE unlimited access to Reuters.com Register International economic forum June 15-18 in St Petersburg No Western bigwigs at ‘Russian Davos’ due to......

Baby formula shortage could ease as Abbott reopens Michigan plant

Reuters
June 4 (Reuters) – Abbott Laboratories (ABT.N) said on Saturday that it has reopened its baby formula production plant in Sturgis, Michigan, taking a step toward alleviating an acute nationwide shortage that has sent parents scrambling for supplies. The company said it will begin production of EleCare and other specialty......

Former Trump adviser Navarro indicted for contempt of Congress -Justice Dept

Reuters
WASHINGTON, June 3 (Reuters) – Peter Navarro, former trade adviser to President Donald Trump, has been charged with contempt of Congress for refusing to cooperate with a House of Representatives investigation of the Jan. 6, 2021, attack on the U.S. Capitol, the Justice Department said on Friday. A federal grand......

Biden, baby formula execs to meet on efforts to ease shortage

Reuters
June 1 (Reuters) – U.S. President Joe Biden will meet with major infant formula manufacturers on Wednesday as his administration presses ahead with efforts to boost imported supplies to help ease a nationwide shortage. Multiple global suppliers are seeking U.S. approval to ship critical baby formula as Biden’s administration accelerates......

Zero-COVID, big money: China’s anti-virus spending boosts medical, tech, construction

Reuters
BEIJING, May 30 (Reuters) – China’s ‘zero-COVID’ policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country’s economy, but it has created bubbles of growth in the medical, technology and construction sectors. The Chinese government, alone among major......

Police face questions over their response to Texas school massacre

Reuters
UVALDE, Texas, May 26 (Reuters) – The gunman in the Texas school massacre barged unchallenged through an unlocked door, then killed 19 children and two teachers while holed up in their classroom for an hour before a tactical team stormed in and killed him, police said on Thursday. The latest......

First baby formula shipment, enough for thousands of U.S. infants, arrives from Europe

Reuters
WASHINGTON, May 22 (Reuters) – A military cargo plane carrying the first shipment of infant formula from Europe to help address a critical shortage in the United States landed in Indianapolis on Sunday, but a top government official noted that much more needs to be done. A Feb. 17 recall......

Biden says first shipments of baby formula flying in from Europe this weekend

Reuters
May 20 (Reuters) – The first shipments of infant formula from Europe to address a critical shortage in the United States should begin arriving this weekend, President Joe Biden said on Friday amid criticism of his administration’s handling of the issue. Biden said on Twitter the initial military cargo plane......

U.S. FDA says Abbott baby formula plant on track to reopen in 1-2 weeks

Reuters
WASHINGTON, May 19 (Reuters) – Abbott Laboratories (ABT.N) and the U.S. Food and Drug Administration are on track to reopen the company’s Sturgis, Michigan, baby formula manufacturing plant within one or two weeks, FDA Commissioner Robert Califf said on Thursday. Abbott, the biggest U.S. supplier of powder infant formula including......

Biden invokes Defense Production Act to increase infant formula supply

Reuters
WASHINGTON, May 18 (Reuters) – President Joe Biden took steps on Wednesday to address the shortage of infant formula in the United States, invoking the Defense Production Act to help manufacturers obtain the ingredients needed to ramp up supply, the White House said. Biden also directed U.S. agencies to use......

Russia uses new laser weapons in Ukraine, Zelenskiy mocks ‘wonder weapon’

Reuters
Russia dips into its secret laser arsenal Zelenskiy mockingly compares laser use to Nazis’ wonder weapons Satellites 1,500 km away can be blinded LONDON, May 18 (Reuters) – Russia on Wednesday said it was using a new generation of powerful lasers in Ukraine to burn up drones, deploying some of......

U.S. to allow baby formula imports amid nationwide shortage

Reuters
Empty shelves show a shortage of baby formula at CVS in San Antonio, Texas, U.S. May 10, 2022. REUTERS/Kaylee Greenlee Beal/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 16 (Reuters) – The United States will allow baby formula imports from foreign makers that do not......

Exclusive: Maker of Walmart, Amazon store-brand baby formulas sees shortages through rest of 2022

Reuters
NEW YORK, May 13 (Reuters) – Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers, including Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O), expects shortages and heightened demand to last for the “balance of the year,” Chief Executive Murray Kessler told Reuters in an interview. The Biden administration......

Chinese jet aborts takeoff, catches fire, causing minor injuries from evacuation

Reuters
Rescue workers are seen at the site where an Airbus A319 plane of Tibet Airlines caught fire after an aborted takeoff, at Chongqing Jiangbei International Airport in Chongqing, China May 12, 2022. cnsphoto via REUTERS Register now for FREE unlimited access to Reuters.com Register BEIJING, May 12 (Reuters) – China’s......

Major U.S. retailers limit baby formula purchases on shortage

Reuters
CVS Health logo and stock graph are seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register May 10 (Reuters) – U.S. retailers including Target Corp (TGT.N), CVS Health Corp (CVS.N) and Walgreens Boots Alliance (WBA.O) said on Tuesday they......

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