Tokyo Core Inflation Slows Below 2%, Complicating BOJ Rate Hike Outlook 
USITC to Review Impact of Revoking China’s PNTR Status, Potentially Raising Tariffs on Chinese Imports 
Oil Prices Surge 13% as U.S.-Israel Strikes on Iran Spark Supply Fears 
OpenAI Hires Former Meta and Apple AI Leader Ruomin Pang Amid Intensifying AI Talent War 
OpenAI Pentagon AI Contract Adds Safeguards Amid Anthropic Dispute 
Oil Prices Steady as US-Iran Nuclear Talks and Rising Crude Inventories Shape Market Outlook 
U.S. Stocks Close Lower as Hot PPI Data, Nvidia Slide Weigh on Wall Street 
Australia Targets AI Platforms With Strict Age Verification Rules 
Toyota Plans $19 Billion Share Sale in Major Corporate Governance Reform Move 
Flare, Xaman Roll Out One-Click DeFi Vault for XRP Yield via XRPL Wallets 
China’s New Home Prices Post Sharpest Drop Since 2022 Amid Ongoing Property Slump 
Netflix Declines to Raise Bid for Warner Bros. Discovery Amid Competing Paramount Skydance Offer 
APEX Tech Acquisition Inc. Raises $111.97 Million in NYSE IPO Under Ticker TRADU 
U.S. Stock Futures Fall as Nvidia Drops Despite Strong Earnings; Netflix Jumps 9% 
Germany and China Reaffirm Open Trade and Strategic Partnership in Landmark Beijing Visit 
BOJ Signals Possible April Rate Hike as Ueda Eyes Inflation and Wage Growth Data 
Hyundai Motor Group to Invest $6.26 Billion in AI Data Center, Robotics and Renewable Energy Projects in South Korea 
Johnson & Johnson may be divided soon as there are plans to split it to become two separate companies. With the division, one will operate the pharmaceutical business while the other will be for the consumer products.
Johnson & Johnson revealed its plans to split up its consumer products and medical device operations late last week. It said it would be forming two publicly traded companies, and this news reportedly triggered an increase in the company’s shares after the figures went higher in premarket trading.
The move will separate J&J’s household products unit that makes leading brands such as Neutrogena, Aveeno, and Listerine, from its unit that makes and sells medical devices like AI and robotics and prescription drugs, including the COVID-19 vaccine.
The separation process is expected to be completed within 18 to 24 months. Based on the reports, the medical device unit will be retaining the Johnson & Johnson brand name, and the incoming chief executive officer, Joaquin Duato, will be leading this newly-formed company.
CNBC reported that for the consumer side of the business, outgoing CEO, Alex Gorsky, said they have not decided on its name yet.
“Following a comprehensive review, the board and management team believe that the planned separation of the consumer health business is the best way to accelerate our efforts to serve patients, consumers, and healthcare professionals, create opportunities for our talented global team, drive profitable growth,” Gorsky said in a statement regarding the split of the firm. “Most importantly – improve healthcare outcomes for people around the world.”
He added that the decision to separate the company into two was approved by the board after discussions that have been going on for some time already. They concluded it was a good step to take because they think it would bring numerous opportunities to stakeholders.
As per Los Angeles Times, the executives of Johnson & Johnson told analysts that the split of the company would make each business more adept in adapting to its respective markets. Gorsky stated the division will also address segments that “have evolved as fundamentally different businesses.” Meanwhile, Duato is set to replace Gorsky as CEO in January 2022.
