WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Johnson & Johnson, the world’s biggest maker of healthcare products, announced on Friday it will split into two separate companies which the corporation believes will improve focus and efficiency. One of the new companies will sell prescription drugs and medical devices, including their COVID-19 vaccine, and keep the J&J name. The other new entity will focus on consumer health and includes brands such as Band-Aid, Listerine, Tylenol, Neutrogena and Aveeno. J&J, founded in 1886, is currently facing numerous lawsuits claiming its talc-based baby powder is directly linked to ovarian cancer. The announcement comes days after General Electric announced it will split into three distinct companies.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– The Bank of England is expected to become the first major central bank to raise its key interest rates either later this year or in early 2022, according to a poll of economists by Reuters. Last week, the United Kingdom’s central bank left its Bank Rate unchanged at a record-low 0.1 per cent. Some economists believe the bank will raise its rate by 15 basis points on Dec. 16, but less than half of the economists polled predict it will hold firm next month.
– Japanese Prime Minister Fumio Kishida announced on Friday a 40 trillion yen (C$440.5 billion) economic stimulus package to be implemented on Nov. 19. Japan’s economy has been affected by rising global oil prices and a worldwide computer chip shortage. However, the plan is expected to add to Japan’s public debt, which is twice the size of the country’s economy and the largest in the world.
