U.S. TOP NEWS
• GM extends vehicle production cuts due to global chip shortage
General Motors said it was extending production cuts at three North American plants until at least mid-March due to the global semiconductor chip shortage, while vehicles at two other factories would only be partially built. The company did not disclose the impact volumes or say which supplier and vehicle parts were affected by the chip shortage.
• Lilly says CFO resigns after investigation into inappropriate relationship
Eli Lilly said Chief Financial Officer Josh Smiley had resigned after allegations about a personal relationship sparked an investigation that found “inappropriate personal communication” with some company employees.
• Biden to discuss relief package with CEOs at Walmart, JPMorgan, others
U.S. President Joe Biden will meet with the chief executives of JPMorgan, Walmart, Gap, and Lowe’s Companies as part of his efforts to boost an economy still reeling from the coronavirus pandemic.
• Coty seeks skin-care balm as makeup demand slump shaves millions off revenue
Coty will step up its investments in skin-care to offset a pandemic-driven fall in demand for its makeup products that led to a disappointing quarterly revenue, driving its shares down.
• J&J in talks to bring COVID-19 vaccine to India with Biological E – source
Johnson & Johnson is in talks with private Indian drugmaker Biological E to possibly run local trials for its COVID-19 shot and manufacture it in India, a source with direct knowledge of the matter told Reuters.