Business Environment

P&G Scraps Deal to Buy Billie Razor Startup

Procter & Gamble has called off its planned takeover of women’s razor startup Billie, citing regulatory action to block the deal as anti-competitive.

The Federal Trade Commission filed a complaint last month alleging the deal was “likely to result in significant harm by eliminating competition between the market leader and an important and growing head-to-head competitor.”

P&G owns the Gillette razor brand while Billie has found a market niche by selling discounted women’s razors and attacking the industry for its “pink tax” practice of charging more for women’s products.

“We were disappointed by the FTC’s decision and maintain there was exciting potential in combining Billie with P&G to better serve more consumers around the world,” the companies said in a joint statement on Tuesday.

However, they added, “after due consideration, we have mutually agreed that it is in both companies’ best interests not to engage in a prolonged legal challenge,

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Vaccine Shortfall to Hit Europe, Canada as Pfizer Plant Is Upgraded

The European Union, Canada and some other nations will obtain less doses following 7 days of the Covid-19 vaccine designed by Pfizer Inc. and BioNTech SE due to an update at Pfizer’s European manufacturing unit, the firms mentioned Friday, adding to issues about the sluggish tempo of the world wide vaccine rollout.

The delay won’t have an impact on the U.S., which is equipped by a Pfizer manufacturing unit in Michigan, the corporation mentioned, even though all other nations are served by the pharma giant’s manufacturing unit in Puurs, Belgium, which is becoming upgraded.

Governments in Europe, which are struggling with stubbornly high Covid-19 case numbers and a glacial vaccine rollout, reacted with dismay. In an open letter to the firms, the wellbeing ministers of Sweden, Denmark, Finland, Latvia, Lithuania and Estonia mentioned the incident was unacceptable and risked undermining the believability of the vaccine rollout, which is previously facing

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