Catalent flags problems at its manufacturing plants; CFO departs

(Reuters) – Contract drug manufacturer Catalent Inc on Friday warned that slow production at three of its facilities will impact its fiscal 2023 results and said CFO Thomas Castellano has stepped down, sending its shares down more than 20%. The company said it experienced “productivity issues” at its gene therapy manufacturing site in Harmans, Maryland …

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Africa needs bilateral help to cope with major funding squeeze, IMF says

By Joe Bavier WASHINGTON (Reuters) -Africa is facing a severe financing squeeze that, on the back of a series of unprecedented shocks, is disrupting economic growth and endangering its long-term development, the International Monetary Fund’s (IMF) top official for the region said. Sub-Saharan Africa was only beginning to recover from the COVID-19 pandemic’s economic fallout …

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US business inventories rise moderately in February

WASHINGTON (Reuters) – U.S. business inventories rose moderately in February, suggesting that inventory investment could subtract from economic growth in the first quarter. Business inventories increased 0.2% after falling 0.2% in January, the Commerce Department said on Friday. Economists polled by Reuters had expected inventories, a key component of gross domestic product, to rise 0.3%. …

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Gazprom’s Austrian business files for insolvency over Uniper dispute

VIENNA (Reuters) -Russian gas group Gazprom’s Austrian business has filed for insolvency and hopes to restructure, a lawyer for the company said on Friday, blaming a halt to Russian gas deliveries that he said resulted from a dispute with Germany’s Uniper. The German utility said in November it had launched an arbitration process in pursuit …

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US consumer sentiment edges up in April; short-term inflation expectations rise

WASHINGTON (Reuters) – U.S. consumer sentiment inched up in April, but households expected inflation to rise over the next 12 months. The University of Michigan’s preliminary April reading on the overall index of consumer sentiment came in at 63.5, up from 62.0 in the prior month. Economists polled by Reuters had forecast a preliminary reading …

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