Category: 3. Business

  • Labubu toy manufacturer exploited workers, labour group claims

    Labubu toy manufacturer exploited workers, labour group claims

    A labour rights organisation claims it has found evidence of worker exploitation in a Chinese factory that makes the viral Labubu dolls.

    China Labor Watch (CLW), a US-based non-governmental organisation, alleges that its investigation found that one of Pop Mart’s suppliers made employees work excessive overtime shifts, sign blank or incomplete contracts and did not give them paid leave.

    The furry Labubu dolls have surged in popularity around the world in recent years and are best known for selling toys in “blind boxes”, which hide its content from buyers until it is opened.

    Pop Mart told the BBC that it is investigating the claims.

    The Beijing-based toy retailer said it appreciated the details from the review and that it will “firmly” require companies making its toys to correct their practices if the allegations are found to be true.

    Pop Mart added that it conducts regular audits of its suppliers, including yearly independent third-party reviews carried out by internationally recognised inspectors.

    CLW said in its report that it had carried out the in-depth probe into Labubu-maker, Shunjia Toys Co Ltd, in the southern Chinese province Guangdong.

    The BBC has been unable to contact Shunjia Toys Co Ltd for comment.

    CLW said its researchers conducted 51 in-person interviews with the factory’s employees to discuss matters of recruitment, contracts and their working conditions.

    The factory is a “core manufacturing facility” of Pop Mart toys and employed more than 4,500 workers, according to CLW.

    The organisation flagged labour issues at Shunjia Toys Co Ltd’s factory in Xinfeng County, including what it said were illegal overtime hours, unclear contract practices and a lack of safety training and protections.

    No child labour was identified at the factory, but it had employed 16-year-old workers who were subject to the same working conditions as adults, without special care that is required under Chinese law, said CLW.

    It urged Pop Mart to take “immediate action” to address the issues in its supply chain. The non-profit said the firm should compensate affected workers and ensure that its production line complies with Chinese labour laws and internationally recognised labour standards.

    Such facilities, called original equipment manufacturers (OEM), make products according to pricing and production schedules set by the client.

    “As a result, labour conditions in OEM facilities are closely shaped by brand sourcing practices,” said CLW.

    Labubus – the fictional elf-like creatures with a row of jagged teeth have become hugely popular. The craze has sparked long queues in shops worldwide.

    Celebrity endorsements from the likes of Kim Kardashian and Lisa from K-pop group Blackpink have helped Pop Mart to become a major toy retailer.

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  • Siemens unveils industrial AI innovations at CES 2026

    Siemens unveils industrial AI innovations at CES 2026

    At CES 2026, Siemens’ keynote marked a new era of technology for industry and infrastructure, showcasing how customers and partners are harnessing artificial intelligence to transform their businesses. With AI-enabled technologies, deep domain expertise, and trusted partnerships, Siemens is converting this technological leap into measurable benefits for customers, partners, and society.

    “Just as electricity once revolutionized the world, industry is shifting toward elements where AI powers products, factories, buildings, grids and transportation. Industrial AI is no longer a feature; it’s a force that will reshape the next century. Siemens is delivering AI-native capabilities, intelligence embedded end-to-end across design, engineering and operations, to help our customers anticipate issues, accelerate innovation and reduce cost,” said Roland Busch, President and CEO of Siemens AG. “From the most comprehensive digital twin and AI-powered hardware to copilots on the shop floor, we’re scaling intelligence across the physical world, so businesses realize speed, quality and efficiency all at once. This is how we scale a once-in-a generation technology shift into measurable outcomes.”

    Siemens highlighted its long-standing partnership with NVIDIA at CES 2026: The companies are expanding their partnership to build the Industrial AI Operating System – helping customers revolutionize how they design, engineer, and operate physical systems. Siemens and NVIDIA will work together to build AI-accelerated industrial solutions across the full lifecycle of products and production, enabling faster innovation, continuous optimization, and more resilient, sustainable manufacturing. The companies also aim to build the world’s first fully AI-driven, adaptive manufacturing sites globally, starting in 2026 with the Siemens Electronics Factory in Erlangen, Germany, as the first blueprint.

    To support development, NVIDIA will provide AI infrastructure, simulation libraries, models, frameworks and blueprints, while Siemens will commit hundreds of industrial AI experts and leading hardware and software. The companies have identified impact areas to make this vision a reality: AI-native EDA, AI-native Simulation, AI-driven adaptive manufacturing and supply chain, and AI-factories.

    Siemens also announced that it will be integrating NVIDIA NIM and NVIDIA Nemotron open AI models into its electronic design automation (EDA) software offerings to advance generative and agentic workflows for semiconductor and PCB design. This will both maximize accuracy through domain specialization and significantly lower operational costs by enabling the most efficient model to handle and adapt to every specific need.

    “Generative AI and accelerated computing have ignited a new industrial revolution, transforming digital twins from passive simulations into the active intelligence of the physical world,” said Jensen Huang, founder and CEO of NVIDIA. “Our partnership with Siemens fuses the world’s leading industrial software with NVIDIA’s full-stack AI platform to close the gap between ideas and reality — empowering industries to simulate complex systems in software, then seamlessly automate and operate them in the physical world.”

    New Technology Connects Digital Twin with Real-Time, Real-World Data

    Siemens’ primary product launch at CES 2026 is the Digital Twin Composer, available on the Siemens Xcelerator Marketplace mid-2026. This new technology brings together Siemens’ comprehensive digital twin, simulations built using NVIDIA Omniverse libraries, and real-time, real-world engineering data.

    With the Digital Twin Composer, companies can create a virtual 3D model of any product, process, or plant; put it in a 3D scene of their choosing; then move back and forth through time, precisely visualizing the effects of everything from weather changes to engineering changes.

    With Siemens’ software as the data backbone, the Digital Twin Composer builds Industrial Metaverse environments at scale, empowering organizations to apply industrial AI, simulation and real-time physical data to make decisions virtually, at speed and scale. Digital Twin Composer is part of Siemens Xcelerator, an industry proven portfolio of software used by companies worldwide to develop digital twins.

    PepsiCo and Siemens are digitally transforming select U.S. manufacturing and warehouse facilities by converting them into high-fidelity 3D digital twins that simulate plant operations and the end-to-end supply chain to establish a performance baseline. Within weeks, teams optimized and validated new configurations to boost capacity and throughput, giving PepsiCo a unified, real-time view of operations with flexibility to integrate AI-driven capabilities over time.

    Leveraging Siemens’ Digital Twin Composer, NVIDIA Omniverse libraries and computer vision, PepsiCo can now recreate every machine, conveyor, pallet route and operator path with physics level accuracy, enabling AI agents to simulate, test, and refine system changes – identifying up to 90 percent of potential issues before any physical modifications occur. This approach has already delivered a 20 percent increase in throughput on initial deployment and is driving faster design cycles, nearly 100 percent design validation and 10 to 15 percent reductions in capital expenditure (Capex) by uncovering hidden capacity and validating investments in a virtual environment.

    Roland Busch at CES 2026 standing in front of a screen that says Digital Twin

    New Industrial Copilots Streamline Manufacturing Operations

    Siemens also spotlighted its partnership with Microsoft, in a conversation with Jay Parikh, executive vice president for CoreAI at Microsoft. Together, Siemens and Microsoft are bridging the worlds of IT and operations, with a collaboration centered on using AI to help organizations across industries improve productivity, resilience, and innovation. Among the highlights: cobuilding the award-winning industrial copilot.

    Siemens also announced that it is expanding its set of AI-powered copilots across the industrial value chain. This will embed intelligence that extends from design and simulation to product lifecycle management, manufacturing, and operations.

    Siemens will deploy nine new AI-powered copilots for its software offerings, this will include Teamcenter, Polarion, and Opcenter. These copilots, respectively, streamline product data navigation, reducing errors and accelerating time to market; automate compliance, helping to ensure faster regulatory approvals and lower risk; and transform manufacturing processes, driving cost savings and operational efficiency.

    These copilots, along with the rest of Siemens’ expanding portfolio of industrial AI solutions, are available to companies of every size on the Siemens Xcelerator Marketplace.

    AI-Driven Innovations in Life Sciences, Energy and Manufacturing

    In life sciences, the acquisition of Dotmatics has enabled the integration of vast research data in AI solutions of Siemens, fueling drug discovery and development. With Dotmatics’ Luma platform, scientists can unify billions of data points generated across instruments and labs, creating a coherent foundation for AI-driven exploration. Combined with Siemens Simcenter simulation and digital twins, teams can rapidly test molecules, identify promising candidates, and virtually scale production to help life-changing therapies reach patients up to 50% faster and at a lower cost. In energy, Bob Mumgaard, CEO and co-founder of Commonwealth Fusion Systems, described how the company uses Siemens’ technologies as it leads the path to commercial fusion. Commonwealth Fusion Systems uses design software and a strong data backbone to help it accelerate the development of fusion machines that promise clean, limitless energy for generations to come.

    In manufacturing, Siemens announced a collaboration to bring Industrial AI to Meta Ray-Ban AI Glasses. With hands-free, real-time audio guidance, safety insights, and feedback, shop floor workers will feel empowered to solve problems efficiently and confidently.

    Technology to Transform the Everyday for Everyone

    At the Siemens booth in the North Hall of the Las Vegas Convention Center, Siemens is showcasing how its technology transforms the everyday, for everyone. Featured solutions from Siemens and its customers that bring together design, simulation, automation, AI, and digital twin technology:

    • PepsiCo is modernizing its global operations to meet evolving customer demands with greater speed and flexibility. With Siemens, the company is digitalizing manufacturing and warehousing processes, enabling faster innovation, more agile production, and smarter decision-making across its supply chain.
    • Commonwealth Fusion Systems is pioneering the future of clean energy with commercial fusion. Faced with the challenges of building an entirely new industry, CFS partnered with Siemens to build a comprehensive data backbone and to accelerate the design and manufacturing of this clean, safe, and nearly limitless energy source.
    • Haddy is reshaping manufacturing through AI-powered 3D printing and localized micro factories that deliver sustainable, high-quality products faster and closer to customers. Facing challenges around supply chain disruption, sustainability, and production agility, Haddy partnered with Siemens to streamline design, optimize operations, and scale efficiently.

    Siemens is also revolutionizing how industrial automation is experienced with the launch of its eXplore tour mobile experience in North Hall. Housed in an 18-wheel vehicle, the eXplore tour delivers an interactive experience that highlights how Siemens technologies converge to drive continuous operational optimization and unlock new levels of efficiency. After CES, the eXplore tour will continue across the U.S. with stops including Realize LIVE in Detroit and Automate in Chicago.

    For the first time, Siemens is hosting its autonomous vehicle experience located at West Hall 4352. The experience will feature Siemens’ new PAVE360 Automotive technology, a systemlevel digital twin, to accelerate the development of software-defined vehicles. It will demonstrate how this new technology works, with a real vehicle on site, operating autonomously in a completely virtual environment.

    A recording of Siemens’ 2026 keynote is available via LinkedIn

    About Siemens

    Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. In fiscal 2025, which ended on September 30, 2025, the Siemens Group generated revenue of €78.9 billion and net income of €10.4 billion. As of September 30, 2025, the company employed around 318,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

    Notes and forward-looking statements

    This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning.

    We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report.

    Should one or more of these risks or uncertainties materialize, should decrees, decisions, assessments or requirements of regulatory or governmental authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

    This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements.

    Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. All information is preliminary.

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  • Consumer insight snapshot (UAE, KSA & Türkiye)

    Consumer insight snapshot (UAE, KSA & Türkiye)

    Ramadan brings visible shifts in how people spend their time, money and attention. Across the UAE, KSA and Türkiye, routines slow down, evenings get busier at home, and priorities lean into faith, family and giving.

    For brands, these moments shape decisions across shopping, media, travel and charitable behaviour.

    What this snapshot covers

    This consumer insight snapshot highlights early Ramadan 2026 signals, including:

    • Expected changes in daily routines
    • Travel and at home behavior
    • Brand choice and switching patterns
    • Preferences around Ramadan advertising
    • Changes in media habits during the month

    And there is more available for purchase

    This snapshot is a sneak peek. The full Ramadan 2026 dataset is already available.

    It covers deeper insights across share of wallet, shopping behavior, travel plans, giving and media consumption, alongside audience and shopper profiles for the UAE, KSA and Türkiye. Get in touch with YouGov experts today for more insights.

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  • Bristow Group Announces Pricing of $500 Million Senior Secured Notes in an Upsized Private Offering :: Bristow Group Inc. (VTOL)

    Bristow Group Announces Pricing of $500 Million Senior Secured Notes in an Upsized Private Offering :: Bristow Group Inc. (VTOL)

    HOUSTON, Jan. 14, 2026 /PRNewswire/ — Bristow Group Inc. (NYSE: VTOL) (the “Company” or “Bristow”) announced today the pricing of an upsized private offering of $500 million aggregate principal amount of 6.75% senior secured notes due 2033 (the “notes”) to eligible purchasers pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The closing of the offering is expected to occur on January 26, 2026 and is subject to the satisfaction of customary closing conditions.

    The notes will mature on February 1, 2033 and will be issued at par. The notes will pay interest semi-annually and will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis, by the Company’s existing material, wholly owned domestic subsidiaries and certain existing material, foreign subsidiaries, as well as certain future subsidiaries. The notes will be secured by first-priority liens, subject to limited exceptions, on collateral that will consist of certain helicopters and related assets, together with substantially all of the other tangible and intangible property assets of the Company and the subsidiary guarantors (other than certain excluded assets), including approximately 119 pledged aircraft.

    The Company will irrevocably deposit a portion of the net proceeds from the offering with the trustee under the indenture (the “2028 Notes Indenture”) governing its 6.875% Senior Secured Notes due 2028 (the “2028 Notes”) in an amount sufficient to redeem the 2028 Notes in full on March 1, 2026 and fund the payment of the principal, premium and interest to, but not including, such redemption date and all other sums payable under the 2028 Notes Indenture with respect to the 2028 Notes. As a result (and at the time) of such deposit, the 2028 Notes Indenture will be satisfied and discharged in accordance with its terms with respect to the 2028 Notes (the “Satisfaction and Discharge”). The Company intends to use any remaining net proceeds from the offering for general corporate purposes.

    The notes are being offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act, and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The offer and sale of the notes and the related subsidiary guarantees have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

    This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, nor shall there be any sale of the notes or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the notes shall be made in the United States only by means of a private offering circular pursuant to Rule 144A under the Securities Act, and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.

    This press release does not constitute a notice of redemption with respect to the 2028 Notes.

    About Bristow Group

    Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of offshore energy companies and government entities. Our aviation services include personnel transportation, search and rescue (“SAR”), medevac, fixed-wing transportation, unmanned systems and ad hoc helicopter services. Our business is comprised of three operating segments: Offshore Energy Services, Government Services and Other Services. Our energy customers charter our helicopters primarily to transport personnel to, from and between onshore bases and offshore production platforms, drilling rigs and other installations. Our government customers primarily outsource SAR activities whereby we operate specialized helicopters and provide highly trained personnel. Our other services include fixed-wing transportation services through a regional airline in Australia and dry-leasing aircraft to third-party operators in support of other industries and geographic markets.

    Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, Ireland, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the United Kingdom and the United States.

    Forward-Looking Statements Disclosure

    This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements about our future business, strategy, operations, capabilities and results; financial projections; plans and objectives of our management; expected actions by us and by third parties, including our customers, competitors, vendors and regulators; and other matters. Some of the forward-looking statements can be identified by the use of words such as “believes,” “belief,” “forecasts,” “expects,” “plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,” “might,” “will,” “would,” “could,” “should” or other similar words; however, all statements in this press release, other than statements of historical fact or historical financial results, are forward-looking statements. Without limiting the generality of the foregoing, such forward-looking statements include statements regarding the use of proceeds from the offering and the Satisfaction and Discharge of the 2028 Notes. Our forward-looking statements reflect our views and assumptions on the date hereof regarding future events and operating performance. We believe that they are reasonable, but they involve significant known and unknown risks, uncertainties, assumptions and other factors, many of which may be beyond our control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties and factors that could cause or contribute to such differences include, but are not limited to, those discussed in our Annual Report on Form 10-K, and in particular, the risks discussed in Part I, Item 1A, “Risk Factors” of such report and those discussed in other documents we file with the Securities and Exchange Commission. Accordingly, you should not put undue reliance on any forward-looking statements. There can be no assurance that the offering of the notes will be consummated on the terms described herein or at all.

    All forward-looking statements in this press release are qualified by these cautionary statements and are only made as of the date thereof. The forward-looking statements in this press release should be evaluated together with the many uncertainties that affect our businesses, particularly those discussed in greater detail in Part I, Item 1A, “Risk Factors” and Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K and Part I, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Part II, Item 1A, “Risk Factors” of our subsequent Quarterly Reports on Form 10-Q. We disclaim any obligation or undertaking, other than as required by law, to provide any updates or revisions to any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, whether as a result of new information, future events or otherwise.

    Investors
    Bristow Group Inc.
    Jennifer Whalen
    InvestorRelations@bristowgroup.com

    Media
    Bristow Group Inc.
    Adam Morgan
    Adam.morgan@bristowgroup.com 

    View original content:https://www.prnewswire.com/news-releases/bristow-group-announces-pricing-of-500-million-senior-secured-notes-in-an-upsized-private-offering-302661772.html

    SOURCE Bristow Group

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  • Asia-Pacific markets trade mixed as investors await Bank of Korea decision – CNBC

    Asia-Pacific markets trade mixed as investors await Bank of Korea decision – CNBC

    1. Asia-Pacific markets trade mixed as investors await Bank of Korea decision  CNBC
    2. The Week Ahead: Data-heavy week for markets, with Malaysia’s GDP advance estimate in focus  The Edge Malaysia
    3. Asia week ahead: Bank of Korea rate decision, key data on China and India  ING THINK economic and financial analysis | ING Think
    4. BOK to keep policy rate unchanged throughout 2026: KED economists  KED Global
    5. Bank of Korea to hold rates at 2.50% on January 15, next cut delayed to 2027: Reuters poll  The Mighty 790 KFGO

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  • $2 million more for sheep and goat farmers eID equipment rebate

    $2 million more for sheep and goat farmers eID equipment rebate

    The roll out of the eID program is part of the Minns Government’s more than $1 billion biosecurity investment to protect and secure the agricultural sector.

    Under the latest rebate program, eligible farmers and others can claim a 50 per cent rebate, up to a maximum of $1,500, on the purchase of a handheld eID reader. The rebate will be made available in early March 2026.

    The latest round of funding is being offered to producers and livestock agents who may have missed out on the initial infrastructure rebate scheme in 2023.

    Many producers and livestock agents are now recognising the practical value of this equipment, not just for meeting mandatory requirements such as property-to-property stock movements, but also for improving on-farm management through the collection of accurate individual animal data.

    This information helps farmers make better-informed decisions, strengthening productivity, especially during challenging or variable seasonal conditions.

    The equipment rebate follows a strong uptake of eID tags, with some 15.2 million eID tags purchased since November 2024, more than 1.79 million eIDs scanned in saleyards in 2025 and approximately 22.4 per cent of the sheep and goats coming through saleyards already equipped with an eID.

    The NSW Government has committed $41 million for the implementation of mandatory electronic identification for sheep and goats in the state – the largest funding commitment of any state or territory.

    Minister for Agriculture Tara Moriarty said:

    “The equipment rebate is part of the Minns Labor Government’s ongoing financial support for primary producers in the transition to electronic IDs.

    “Sheep and goat producers, along with livestock agents will benefit from this rebate, targeted specifically to reduce the cost of meeting mandatory eID requirements.

    “This program ensures NSW producers will continue to lead the world in biosecurity safety and maintain their export premiums.

    “We will continue working with producers, agents, saleyards and processors to implement eID in their operations.”

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  • AJOVY® (fremanezumab-vfrm) Significantly Reduced Monthly Migraine and Headache Days in Children and Adole

    AJOVY® (fremanezumab-vfrm) Significantly Reduced Monthly Migraine and Headache Days in Children and Adole

    • AJOVY demonstrated efficacy and a consistent safety profile in the SPACE trial, making it the first and only calcitonin gene-related peptide (CGRP) antagonist treatment option for both pediatric and adult patients.1,2
    • Results from the SPACE trial found AJOVY significantly reduced monthly migraine days and monthly headache days versus placebo over a 12-week period in pediatric patients with episodic migraine.1
    • The U.S. Food and Drug Administration (FDA) approved AJOVY in August 2025 for the preventive treatment of episodic migraine in children and adolescents aged 6-17 years who weigh 45 kilograms (99 pounds) or more, building on its initial approval for the preventive treatment of migraine in adults.2

    PARSIPPANY, N.J. and TEL AVIV, Israel, Jan. 14, 2026 (GLOBE NEWSWIRE) — Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), today announced that the New England Journal of Medicine (NEJM) has published pivotal Phase 3 data on AJOVY, highlighting its efficacy and safety in children and adolescents with episodic migraine. The data from the SPACE study supported the FDA approval of AJOVY for the preventive treatment of episodic migraine in pediatric patients aged 6-17 years weighing 45 kilograms (99 pounds) or more, making it the first and only calcitonin gene-related peptide (CGRP) antagonist indicated for preventive treatment of episodic migraine in pediatric patients and migraine in adults.1,2

    “With an estimated 1 in 10 children and adolescents in the U.S. living with migraine, the need for effective preventive options is critical as this condition can disrupt daily life for patients and families,” said Eric Hughes, M.D., Ph.D., Executive Vice President, Global R&D and Chief Medical Officer at Teva.3 “The SPACE trial results published in the New England Journal of Medicine add to the growing body of evidence supporting AJOVY and build on its established use in adults. Teva is proud to be leading the charge and continuing to innovate for the migraine community.”

    In the SPACE trial, AJOVY reduced monthly migraine days (MMD) by 2.5 days compared to 1.4 days with placebo (difference: 1.1 days; P = 0.02) and reduced monthly headache days (MHD) of at least moderate severity by 2.6 days versus 1.5 days (difference: 1.1 days; P = 0.02). A significantly higher proportion of participants achieved a ≥ 50% reduction in MMD (47.2%) with AJOVY compared to placebo (27.0%) (P = 0.002). No new safety signals were identified, and the safety profile remained consistent with that observed in adult studies.1

    The 3-month, randomized, placebo-controlled SPACE study enrolled 237 children and adolescents aged 6-17 years with episodic migraine. Participants were randomized to receive monthly subcutaneous injections of fremanezumab (120 mg for those weighing < 45 kg; 225 mg for those weighing ≥ 45 kg) or matched placebo.1

    “Helping to prevent migraine attacks in children and adolescents is critical to supporting their healthy development and education, including missed school days, disability and overall social well-being,” said the study’s lead author, Andrew D. Hershey, M.D., Ph.D., and Endowed Chair and Director of Neurology at Cincinnati Children’s Hospital Medical Center. “The SPACE trial demonstrates that a CGRP-targeted preventive therapy like fremanezumab-vfrm (AJOVY) can significantly reduce the frequency of attacks of migraine in youth, giving physicians critical evidence to guide care for this underserved population.”

    For more information on the SPACE study results published online in the New England Journal of Medicine, click here.

    About Migraine

    Migraine attacks cause disabling pain, nausea, vomiting and sensitivities to light and sound, resulting in serious effects on the ability to complete daily tasks.4 Migraine can cause significant disability in children and adolescents, leading to absence from school, impaired educational performance and missed social activities.5

    About SPACE

    SPACE is a multicenter, randomized, double-blind, placebo-controlled, parallel-group study comparing the efficacy, safety and tolerability of subcutaneous administration of fremanezumab versus placebo over a 12-week period for the preventive treatment of episodic migraine in 237 pediatric patients aged 6 to 17 years.

    About AJOVY

    AJOVY is indicated for preventive treatment of migraine in adults and episodic migraine in children and adolescent patients aged 6-17 years who weigh 45 kilograms (99 pounds) or more. AJOVY is available as a 225 mg/1.5 mL single dose injection in a pre-filled autoinjector or in a pre-filled syringe. AJOVY can be administered either by a healthcare professional or at home by a patient 13 years of age or older or caregiver. No starting dose is required to begin treatment. For full prescribing information, visit https://www.ajovy.com/globalassets/ajovy/ajovy-pi.pdf

    INDICATION AND USAGE

    AJOVY is indicated for:

    • the preventive treatment of migraine in adults, and
    • the preventive treatment of episodic migraine in pediatric patients who are 6 to 17 years of age and who weigh 45 kg or more.

    IMPORTANT SAFETY INFORMATION

    Contraindications: AJOVY is contraindicated in patients with serious hypersensitivity to fremanezumab-vfrm or to any of the excipients. Reactions have included anaphylaxis and angioedema.

    Hypersensitivity Reactions: Hypersensitivity reactions, including rash, pruritus, drug hypersensitivity, and urticaria were reported with AJOVY in clinical trials. Most reactions were mild to moderate, but some led to discontinuation or required corticosteroid treatment. Most reactions were reported from within hours to one month after administration. Cases of anaphylaxis and angioedema have been reported in the postmarketing setting. If a hypersensitivity reaction occurs, consider discontinuing AJOVY and institute appropriate therapy.

    Hypertension: Development of hypertension and worsening of pre-existing hypertension have been reported following the use of CGRP antagonists, including AJOVY, in the postmarketing setting.

    Monitor patients treated with AJOVY for new-onset hypertension or worsening of pre-existing hypertension, and consider whether discontinuation of AJOVY is warranted.

    Raynaud’s Phenomenon: Development of Raynaud’s phenomenon and recurrence or worsening of pre-existing Raynaud’s phenomenon have been reported in the postmarketing setting following the use of CGRP antagonists, including AJOVY. Many of the cases reported serious outcomes, including hospitalizations and disability, generally related to debilitating pain.

    AJOVY should be discontinued if signs or symptoms of Raynaud’s phenomenon develop. Patients with a history of Raynaud’s phenomenon should be monitored for, and informed about the possibility of, worsening or recurrence of signs and symptoms.

    Adverse Reactions: The most common adverse reactions in clinical trials (≥5% and greater than placebo) were injection site reactions.

    Please click here for full U.S. Prescribing Information for AJOVY (fremanezumab-vfrm) injection.

    About Teva

    Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is transforming into a leading innovative biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to successfully develop and commercialize AJOVY (fremanezumab-vfrm) injection for the prevention of episodic migraine in children and adolescents; our ability to successfully compete in the marketplace including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development; and other factors discussed in this press release, in our Quarterly Report on Form 10-Q for the third quarter of 2025 and in our Annual Report on Form 10-K for the year ended December 31, 2024, including in the section captioned “Risk Factors.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

    1. Hershey, A. D., Szperka, C. L., Barbanti, P., Pozo‑Rosich, P., Bittigau, P., Barash, S., Bryson, J., Kessler, Y., Schwartz, Y. C., Campos, V. R., & Ning, X. (2026). Fremanezumab in Children and Adolescents with Episodic Migraine. New England Journal of Medicine.
    2. AJOVY (fremanezumab-vfrm) injection, for subcutaneous use. Current Prescribing Information. Parsippany, NJ. Teva Neuroscience, Inc.
    3. Al Khalili Y, Asuncion RMD, Chopra P. Migraine Headache in Childhood. [Updated 2023 Mar 4]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2025 Jan-. Available from: https://www.ncbi.nlm.nih.gov/books/NBK557813/
    4. Jaimie D Steinmetz, Katrin Seeher, Nicoline Schiess, Emma Nichols, Bochen Cao, Chiara Servili, Vanessa Cavallera, Christopher J L Murray, Kanyin Liane Ong, Valery L Feigin, Theo Vos, and Tarun Dua on behalf of the GBD network. Global, regional, and national burden of disorders affecting the nervous system, 1990–2021: a systematic analysis of the Global Burden of Disease Study 2021. Lancet Neurol. (in press).
    5. Pediatric Migraine, An Update. Greene, Kaitlin. et al; Neurology clinics, Volume 37, Issue 4, 815-833. August 31, 2019. https://doi.org/10.1016/j.ncl.2019.07.009

    Teva Media Inquiries:

    TevaCommunicationsNorthAmerica@tevapharm.com

    Teva Investor Relations Inquires

    TevaIR@Tevapharm.com

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    Source: Teva Pharmaceutical Industries Ltd

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  • JPMorganChase to Present at the UBS Financial Services Conference

    Troy Rohrbaugh, Co-CEO of the Commercial & Investment Bank, will present at the UBS Financial Services Conference in Key Biscayne, Florida on Tuesday, February 10, 2026 at 9:40 a.m. (Eastern).

    A live webcast will be available on the day of the conference at www.jpmorganchase.com under Investor Relations, Events & Presentations.

    JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362 billion in stockholders’ equity as of December 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

    Investor contact:
    Mikael Grubb
    212-270-2479

    Media contact:
    Joseph Evangelisti
    212-270-7438

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  • TECVAYLI® monotherapy demonstrates superior progression-free and overall survival versus standard of care as early as first relapse in patients with multiple myeloma predominantly refractory to anti-CD38 therapy and lenalidomide

    TECVAYLI® monotherapy demonstrates superior progression-free and overall survival versus standard of care as early as first relapse in patients with multiple myeloma predominantly refractory to anti-CD38 therapy and lenalidomide

    TECVAYLI® alone reduced risk of disease progression or death by 71% in a high unmet need population

    MajesTEC-9 is the second positive Phase 3 study to support TECVAYLI® regimens as a potential new standard of care as early as first relapse

    RARITAN, N.J., Jan. 14, 2026 /PRNewswire/ — Johnson & Johnson (NYSE:JNJ), a worldwide leader in multiple myeloma therapies, today announced positive topline results from the investigational Phase 3 MajesTEC-9 study of TECVAYLI® (teclistamab-cqyv) monotherapy, showing a 71% reduction in the risk of disease progression or death and a 40% reduction in the risk of death in a patient population that was predominantly refractory to anti-CD38 therapy and lenalidomide. Data confirm superior progression-free survival (PFS) and overall survival (OS) with TECVAYLI® compared to standard of care as early as second line.1

    Multiple myeloma is a blood cancer characterized by high rates of relapse. Despite recent advances in treatment, a significant unmet need remains for additional, well–tolerated therapies—particularly in earlier lines of therapy for patients refractory to anti–CD38 monoclonal antibodies and lenalidomide, commonly used medications in multiple myeloma.

    The MajesTEC-9 study evaluated TECVAYLI® monotherapy in patients predominantly refractory to anti-CD38 and lenalidomide therapies.1 These results build on the unprecedented MajesTEC-3 findings published in The New England Journal of Medicine, which showed significant PFS and OS benefits with TECVAYLI® plus DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) in patients who were naïve or sensitive to an anti-CD38 therapy.2 These two distinct Phase 3 studies address the continuum of unmet need.1,2,3

    “The MajesTEC-9 results reinforce the potential of TECVAYLI to transform treatment earlier in the multiple myeloma journey, with an immunotherapy regimen widely available for all appropriate patients, including those commonly treated in the community setting,” said Roberto Mina, M.D., Associate Professor, Winship Cancer Institute of Emory University, formerly Assistant Professor, University of Turin, Turin, Italy.* “The impressive results show a significant improvement in progression-free and overall survival as a monotherapy in patients with refractory multiple myeloma, and together with the MajesTEC-3 results, help establish TECVAYLI as an essential therapy for patients as early as first relapse.”

    The MajesTEC-9 study evaluates the efficacy and safety of TECVAYLI®, a bispecific T-cell engager antibody therapy, versus the standard of care of pomalidomide, bortezomib, and dexamethasone (PVd) or carfilzomib and dexamethasone (Kd) in patients with relapsed/refractory multiple myeloma who have received 1 to 3 prior lines of therapy.1 All patients in MajesTEC-9 had to have received a prior anti-CD38 monoclonal antibody and lenalidomide.1 Overall, the majority of patients enrolled were refractory to anti-CD38 monoclonal antibodies (85%) and lenalidomide (79%), and more than 90% were refractory to their last line of therapy.1

    Those randomized to TECVAYLI® had a clinically meaningful and statistically significant 71% reduction in the risk of progression or death [hazard ratio (HR)=0.29 (95% confidence interval (CI): 0.23, 0.38)] and a 40% reduction in the risk of death [HR=0.60 (95% CI: 0.43, 0.83)].1 The safety profile of TECVAYLI® monotherapy was clinically manageable using established protocols and consistent with its known profile, with no new safety concerns identified.1 Topline data were confirmed following this first pre-specified interim analysis. Based on the strength of the data, the Independent Data Monitoring Committee (IDMC) recommended unblinding the study.

    “TECVAYLI continues to break new ground as a first-in-class bispecific T-cell engager antibody and the MajesTEC-9 results are the latest example of Johnson & Johnson’s commitment to provide critical treatment options for patients at every stage of their disease,” said Yusri Elsayed, M.D., M.H.Sc., Ph.D., Global Therapeutic Head, Oncology, Johnson & Johnson Innovative Medicine. “In addition to the other transformational therapies in our multiple myeloma portfolio, we continue to redefine the future for patients, bringing us another step closer to cure.”

    The full results of the Phase 3 MajesTEC-9 study will be presented at a future major medical meeting and shared with global health authorities.

    About TECVAYLI®
    TECVAYLI® (teclistamab-cqyv) is a first-in-class, bispecific T-cell engager antibody therapy that uses innovative science to activate the immune system by binding to the CD3 receptor expressed on the surface of T-cells and to the B-cell maturation antigen (BCMA) expressed on the surface of multiple myeloma cells and some healthy B-lineage cells. TECVAYLI® received accelerated approval from the U.S. Food and Drug Administration (FDA) in October 2022 as an off-the-shelf (or ready-to-use) antibody that is administered as a subcutaneous treatment for adult patients with relapsed or refractory multiple myeloma (RRMM) who received at least four prior lines of therapy, including a proteasome inhibitor, an immunomodulatory agent, and an anti-CD38 antibody.4

    In February 2024, the U.S. FDA approved the supplemental Biologics License Application (sBLA) for TECVAYLI® for a reduced dosing frequency of 1.5 mg/kg every two weeks in patients with RRMM who achieved and maintained a complete response (CR) or better for a minimum of six months. Since FDA approval, more than 20,800 patients have been treated worldwide with TECVAYLI®.

    The European Commission (EC) granted TECVAYLI® conditional marketing authorization in August 2022 as monotherapy for the treatment of adult patients with RRMM who have received at least three prior therapies, including a proteasome inhibitor, an immunomodulatory agent and an anti-CD38 antibody, and have demonstrated disease progression since the last therapy. In August 2023, the EC approved a Type II variation application for TECVAYLI®, providing the option for a reduced dosing frequency of 1.5 mg/kg every two weeks (Q2W) in patients who have achieved a complete response or better for a minimum of six months.

    For more information, visit www.TECVAYLI.com.

    About DARZALEX FASPRO® and DARZALEX®
    DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) received U.S. FDA approval in May 2020 and is approved for 11 indications in multiple myeloma, four of which are for frontline treatment in newly diagnosed patients who are transplant eligible or ineligible.5 It is the only subcutaneous CD38-directed antibody approved to treat patients with multiple myeloma. DARZALEX FASPRO® is co-formulated with recombinant human hyaluronidase PH20 (rHuPH20), Halozyme’s ENHANZE® drug delivery technology.

    DARZALEX® (daratumumab) received U.S. FDA approval in November 2015 and is approved in eight indications, three of which are in the frontline setting, including newly diagnosed patients who are transplant-eligible and ineligible.6 In 2025, DARZALEX FASPRO® was approved by the U.S. FDA and EMA as the first and only treatment for patients with high-risk smoldering multiple myeloma.

    DARZALEX® is the first CD38-directed antibody approved to treat multiple myeloma.5 DARZALEX®-based regimens have been used in the treatment of more than 618,000 patients worldwide and more than 68,000 patients in the U.S. alone.

    In August 2012, Janssen Biotech, Inc. and Genmab A/S entered a worldwide agreement, which granted Janssen an exclusive license to develop, manufacture and commercialize daratumumab.

    For more information, visit www.DARZALEX.com.

    About Multiple Myeloma
    Multiple myeloma is an incurable blood cancer that affects a type of white blood cell called plasma cells, which are found in the bone marrow.In multiple myeloma, these plasma cells proliferate and spread rapidly and replace normal cells in the bone marrow with tumors.6 Multiple myeloma is the third most common blood cancer worldwide and remains an incurable disease.7 In 2024, it was estimated that more than 35,000 people will be diagnosed with multiple myeloma in the U.S. and more than 12,000 people would die from the disease.8 People living with multiple myeloma have a 5-year survival rate of 59.8 percent.9 While some people diagnosed with multiple myeloma initially have no symptoms, most patients are diagnosed due to symptoms that can include bone fracture or pain, low red blood cell counts, tiredness, high calcium levels and kidney problems or infections.10,11

    TECVAYLI® IMPORTANT SAFETY INFORMATION

    INDICATION AND USAGE

    TECVAYLI® (teclistamab-cqyv) is a bispecific B-cell maturation antigen (BCMA)-directed CD3 T-cell engager indicated for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least four prior lines of therapy, including a proteasome inhibitor, an immunomodulatory agent and an anti-CD38 monoclonal antibody.

    This indication is approved under accelerated approval based on response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trial(s).

    IMPORTANT SAFETY INFORMATION

    WARNING: CYTOKINE RELEASE SYNDROME and NEUROLOGIC TOXICITY including IMMUNE EFFECTOR CELL-ASSOCIATED NEUROTOXICITY SYNDROME

    Cytokine release syndrome (CRS), including life-threatening or fatal reactions, can occur in patients receiving TECVAYLI®. Initiate treatment with TECVAYLI® step-up dosing schedule to reduce risk of CRS. Withhold TECVAYLI® until CRS resolves or permanently discontinue based on severity.

    Neurologic toxicity, including Immune Effector Cell-Associated Neurotoxicity Syndrome (ICANS) and serious and life-threatening reactions, can occur in patients receiving TECVAYLI®. Monitor patients for signs or symptoms of neurologic toxicity, including ICANS, during treatment. Withhold TECVAYLI® until neurologic toxicity resolves or permanently discontinue based on severity.

    TECVAYLI® is available only through a restricted program called the TECVAYLI® and TALVEY® Risk Evaluation and Mitigation Strategy (REMS).

    WARNINGS AND PRECAUTIONS

    Cytokine Release Syndrome  TECVAYLI® can cause cytokine release syndrome (CRS), including life-threatening or fatal reactions. In the clinical trial, CRS occurred in 72% of patients who received TECVAYLI® at the recommended dose, with Grade 1 CRS occurring in 50% of patients, Grade 2 in 21%, and Grade 3 in 0.6%. Recurrent CRS occurred in 33% of patients. Most patients experienced CRS following step-up dose 1 (42%), step-up dose 2 (35%), or the initial treatment dose (24%). Less than 3% of patients developed first occurrence of CRS following subsequent doses of TECVAYLI®. The median time to onset of CRS was 2 (range: 1 to 6) days after the most recent dose with a median duration of 2 (range: 1 to 9) days. Clinical signs and symptoms of CRS included, but were not limited to, fever, hypoxia, chills, hypotension, sinus tachycardia, headache, and elevated liver enzymes (aspartate aminotransferase and alanine aminotransferase elevation).

    Initiate therapy according to TECVAYLI® step-up dosing schedule to reduce risk of CRS. Administer pretreatment medications to reduce risk of CRS and monitor patients following administration of TECVAYLI® accordingly. At the first sign of CRS, immediately evaluate patient for hospitalization. Administer supportive care based on severity and consider further management per current practice guidelines. Withhold or permanently discontinue TECVAYLI® based on severity.

    TECVAYLI® is available only through a restricted program under a REMS.

    Neurologic Toxicity including ICANS  TECVAYLI® can cause serious or life-threatening neurologic toxicity, including Immune Effector Cell-Associated Neurotoxicity Syndrome (ICANS).

    In the clinical trial, neurologic toxicity occurred in 57% of patients who received TECVAYLI® at the recommended dose, with Grade 3 or 4 neurologic toxicity occurring in 2.4% of patients. The most frequent neurologic toxicities were headache (25%), motor dysfunction (16%), sensory neuropathy (15%), and encephalopathy (13%). With longer follow-up, Grade 4 seizure and fatal Guillain-Barré syndrome (one patient each) occurred in patients who received TECVAYLI®.

    In the clinical trial, ICANS was reported in 6% of patients who received TECVAYLI® at the recommended dose. Recurrent ICANS occurred in 1.8% of patients. Most patients experienced ICANS following step-up dose 1 (1.2%), step-up dose 2 (0.6%), or the initial treatment dose (1.8%). Less than 3% of patients developed first occurrence of ICANS following subsequent doses of TECVAYLI®. The median time to onset of ICANS was 4 (range: 2 to 8) days after the most recent dose with a median duration of 3 (range: 1 to 20) days. The most frequent clinical manifestations of ICANS reported were confusional state and dysgraphia. The onset of ICANS can be concurrent with CRS, following resolution of CRS, or in the absence of CRS.

    Monitor patients for signs and symptoms of neurologic toxicity during treatment. At the first sign of neurologic toxicity, including ICANS, immediately evaluate patient and provide supportive therapy based on severity. Withhold or permanently discontinue TECVAYLI® based on severity per recommendations and consider further management per current practice guidelines.

    Due to the potential for neurologic toxicity, patients are at risk of depressed level of consciousness. Advise patients to refrain from driving or operating heavy or potentially dangerous machinery during and for 48 hours after completion of TECVAYLI® step-up dosing schedule and in the event of new onset of any neurologic toxicity symptoms until neurologic toxicity resolves.

    TECVAYLI® is available only through a restricted program under a REMS.

    TECVAYLI® and TALVEY® REMS – TECVAYLI® is available only through a restricted program under a REMS called the TECVAYLI® and TALVEY® REMS because of the risks of CRS and neurologic toxicity, including ICANS.

    Hepatotoxicity – TECVAYLI® can cause hepatotoxicity, including fatalities. In patients who received TECVAYLI® at the recommended dose in the clinical trial, there was one fatal case of hepatic failure. Elevated aspartate aminotransferase (AST) occurred in 34% of patients, with Grade 3 or 4 elevations in 1.2%. Elevated alanine aminotransferase (ALT) occurred in 28% of patients, with Grade 3 or 4 elevations in 1.8%. Elevated total bilirubin occurred in 6% of patients with Grade 3 or 4 elevations in 0.6%. Liver enzyme elevation can occur with or without concurrent CRS.

    Monitor liver enzymes and bilirubin at baseline and during treatment as clinically indicated. Withhold TECVAYLI® or consider permanent discontinuation of TECVAYLI® based on severity.

    Infections – TECVAYLI® can cause severe, life-threatening, or fatal infections. In patients who received TECVAYLI® at the recommended dose in the clinical trial, serious infections, including opportunistic infections, occurred in 30% of patients, with Grade 3 or 4 infections in 35%, and fatal infections in 4.2%.

    Monitor patients for signs and symptoms of infection prior to and during treatment with TECVAYLI® and treat appropriately. Administer prophylactic antimicrobials according to guidelines. Withhold TECVAYLI® or consider permanent discontinuation of TECVAYLI® based on severity.

    Monitor immunoglobulin levels during treatment with TECVAYLI® and treat according to guidelines, including infection precautions and antibiotic or antiviral prophylaxis.

    Neutropenia – TECVAYLI® can cause neutropenia and febrile neutropenia. In patients who received TECVAYLI® at the recommended dose in the clinical trial, decreased neutrophils occurred in 84% of patients, with Grade 3 or 4 decreased neutrophils in 56%. Febrile neutropenia occurred in 3% of patients.

    Monitor complete blood cell counts at baseline and periodically during treatment and provide supportive care per local institutional guidelines. Monitor patients with neutropenia for signs of infection. Withhold TECVAYLI® based on severity.

    Hypersensitivity and Other Administration Reactions – TECVAYLI® can cause both systemic administration-related and local injection-site reactions. Systemic Reactions – In patients who received TECVAYLI® at the recommended dose in the clinical trial, 1.2% of patients experienced systemic-administration reactions, which included Grade 1 recurrent pyrexia and Grade 1 swollen tongue. Local Reactions – In patients who received TECVAYLI® at the recommended dose in the clinical trial, injection-site reactions occurred in 35% of patients, with Grade 1 injection-site reactions in 30% and Grade 2 in 4.8%. Withhold TECVAYLI® or consider permanent discontinuation of TECVAYLI® based on severity.

    Embryo-Fetal Toxicity – Based on its mechanism of action, TECVAYLI® may cause fetal harm when administered to a pregnant woman. Advise pregnant women of the potential risk to the fetus. Advise females of reproductive potential to use effective contraception during treatment with TECVAYLI® and for 5 months after the last dose.

    ADVERSE REACTIONS
    The most common adverse reactions (≥20%) were pyrexia, CRS, musculoskeletal pain, injection site reaction, fatigue, upper respiratory tract infection, nausea, headache, pneumonia, and diarrhea. The most common Grade 3 to 4 laboratory abnormalities (≥20%) were decreased lymphocytes, decreased neutrophils, decreased white blood cells, decreased hemoglobin, and decreased platelets.

    Please read full Prescribing Information, including Boxed WARNING, for TECVAYLI®.

    DARZALEX FASPRO® INDICATIONS AND IMPORTANT SAFETY INFORMATION 

    INDICATIONS
    DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj) is indicated for the treatment of adult patients with multiple myeloma:

    • In combination with bortezomib, lenalidomide, and dexamethasone for induction and consolidation in newly diagnosed patients who are eligible for autologous stem cell transplant
    • In combination with bortezomib, melphalan, and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant
    • In combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy
    • In combination with bortezomib, thalidomide, and dexamethasone in newly diagnosed patients who are eligible for autologous stem cell transplant
    • In combination with pomalidomide and dexamethasone in patients who have received at least one prior line of therapy including lenalidomide and a proteasome inhibitor (PI)
    • In combination with carfilzomib and dexamethasone in patients with relapsed or refractory multiple myeloma who have received one to three prior lines of therapy
    • In combination with bortezomib and dexamethasone in patients who have received at least one prior therapy
    • As monotherapy in patients who have received at least three prior lines of therapy including a PI and an immunomodulatory agent or who are double refractory to a PI and an immunomodulatory agent

    DARZALEX FASPRO® as monotherapy is indicated for the treatment of adult patients with high-risk smoldering multiple myeloma.

    IMPORTANT SAFETY INFORMATION

    CONTRAINDICATIONS  
    DARZALEX FASPRO® is contraindicated in patients with a history of severe hypersensitivity to daratumumab, hyaluronidase, or any of the components of the formulation.  

    WARNINGS AND PRECAUTIONS  

    Hypersensitivity and Other Administration Reactions  
    Both systemic administration-related reactions, including severe or life-threatening reactions, and local injection-site reactions can occur with DARZALEX FASPRO®. Fatal reactions have been reported with daratumumab-containing products, including DARZALEX FASPRO®

    Systemic Reactions  
    In a pooled safety population of 1446 patients with multiple myeloma (N=1235) or light chain (AL) amyloidosis (N=193) who received DARZALEX FASPRO® as monotherapy or in combination, 7% of patients experienced a systemic administration-related reaction (Grade 2: 3%, Grade 3: 0.8%, Grade 4: 0.1%).  In patients with high-risk smoldering multiple myeloma (N=193), systemic administration-related reactions occurred in 17% of patients in AQUILA (Grade 2: 7%, Grade 3: 1%).

    In all patients (N=1639), systemic administration-related reactions occurred in 7% of patients with the first injection, 0.5% with the second injection, and cumulatively 1% with subsequent injections. The median time to onset was 3.2 hours (range: 4 minutes to 3.5 days). Of the 283 systemic administration-related reactions that occurred in 135 patients, 240 (85%) occurred on the day of DARZALEX FASPRO® administration. Delayed systemic administration-related reactions have occurred in 1% of the patients.

    Severe reactions included hypoxia, dyspnea, hypertension, tachycardia, and ocular adverse reactions, including choroidal effusion, acute myopia, and acute angle closure glaucoma. Other signs and symptoms of systemic administration-related reactions may include respiratory symptoms, such as bronchospasm, nasal congestion, cough, throat irritation, allergic rhinitis, and wheezing, as well as anaphylactic reaction, pyrexia, chest pain, pruritus, chills, vomiting, nausea, hypotension, and blurred vision.

    Pre-medicate patients with histamine-1 receptor antagonist, acetaminophen, and corticosteroids. Monitor patients for systemic administration-related reactions, especially following the first and second injections. For anaphylactic reaction or life-threatening (Grade 4) administration-related reactions, immediately and permanently discontinue DARZALEX FASPRO®. Consider administering corticosteroids and other medications after the administration of DARZALEX FASPRO® depending on dosing regimen and medical history to minimize the risk of delayed (defined as occurring the day after administration) systemic administration-related reactions.  

    Ocular adverse reactions, including acute myopia and narrowing of the anterior chamber angle due to ciliochoroidal effusions with potential for increased intraocular pressure or glaucoma, have occurred with daratumumab-containing products. If ocular symptoms occur, interrupt DARZALEX FASPRO® and seek immediate ophthalmologic evaluation prior to restarting DARZALEX FASPRO®.  

    Local Reactions  
    In this pooled safety population of 1446 patients with multiple myeloma (N=1253) or light chain amyloidosis (N=193), injection-site reactions occurred in 8% of patients, including Grade 2 reactions in 1.1%. The most frequent (>1%) injection-site reaction were injection site erythema and injection site rash. In patients with high-risk smoldering multiple myeloma (N=193), injection-site reactions occurred in 28% of patients, including Grade 2 reactions in 3%. These local reactions occurred a median of 6 minutes (range: 0 minutes to 6.5 days) after starting administration of DARZALEX FASPRO®. Monitor for local reactions and consider symptomatic management.

    Infections
    DARZALEX FASPRO® can cause serious, life-threatening, or fatal infections. In patients who received DARZALEX FASPRO® in a pooled safety population including patients with smoldering multiple myeloma and light chain (AL) amyloidosis (N=1639), serious infections, including opportunistic infections, occurred in 24% of patients, Grade 3 or 4 infections occurred in 22%, and fatal infections occurred in 2.5%. The most common type of serious infection reported was pneumonia (8.5%).

    Monitor patients for signs and symptoms of infection prior to and during treatment with DARZALEX FASPRO® and treat appropriately. Administer prophylactic antimicrobials according to guidelines.

    Neutropenia  
    Daratumumab may increase neutropenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer’s prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX FASPRO® until recovery of neutrophils. In lower body weight patients receiving DARZALEX FASPRO®, higher rates of Grade 3-4 neutropenia were observed.  

    Thrombocytopenia  
    Daratumumab may increase thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer’s prescribing information for background therapies. Consider withholding DARZALEX FASPRO® until recovery of platelets.  

    Embryo-Fetal Toxicity  
    Based on the mechanism of action, DARZALEX FASPRO® can cause fetal harm when administered to a pregnant woman. DARZALEX FASPRO® may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX FASPRO® and for 3 months after the last dose.  

    The combination of DARZALEX FASPRO® with lenalidomide, thalidomide, or pomalidomide is contraindicated in pregnant women because lenalidomide, thalidomide, and pomalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide, thalidomide, or pomalidomide prescribing information on use during pregnancy.  

    Interference With Serological Testing  
    Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive indirect antiglobulin test (indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab administration. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient’s serum. The determination of a patient’s ABO and Rh blood type are not impacted.  

    Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX FASPRO®. Type and screen patients prior to starting DARZALEX FASPRO®.  

    Interference With Determination of Complete Response  
    Daratumumab is a human immunoglobulin G (IgG) kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some DARZALEX FASPRO®-treated patients with IgG kappa myeloma protein.  

    ADVERSE REACTIONS  
    In multiple myeloma, the most common adverse reaction (≥20%) with DARZALEX FASPRO® monotherapy is upper respiratory tract infection. The most common adverse reactions with combination therapy (≥20% for any combination) include fatigue, nausea, diarrhea, dyspnea, insomnia, headache, rash, pyrexia, cough, muscle spasms, back pain, vomiting, hypertension, musculoskeletal pain, upper respiratory tract infection, , peripheral neuropathy, peripheral sensory neuropathy, constipation, pneumonia, edema, peripheral edema, and anemia. 

    The most common adverse reactions (≥20%) in patients with high-risk smoldering multiple myeloma who received DARZALEX FASPRO® monotherapy are upper respiratory tract infection, musculoskeletal pain, fatigue, diarrhea, rash, sleep disorder, sensory neuropathy, and injection site reactions.

    The most common hematology laboratory abnormalities (≥40%) with DARZALEX FASPRO® are decreased leukocytes, decreased lymphocytes, decreased neutrophils, decreased platelets, and decreased hemoglobin.  

    Please click here to read the full Prescribing Information for DARZALEX FASPRO®.  

    DARZALEX® INDICATIONS AND IMPORTANT SAFETY INFORMATION

    INDICATIONS
    DARZALEX® (daratumumab) is indicated for the treatment of adult patients with multiple myeloma:

    • In combination with bortezomib, melphalan, and prednisone in newly diagnosed patients who are ineligible for autologous stem cell transplant
    • In combination with lenalidomide and dexamethasone in newly diagnosed patients who are ineligible for autologous stem cell transplant and in patients with relapsed or refractory multiple myeloma who have received at least one prior therapy
    • In combination with bortezomib, thalidomide, and dexamethasone in newly diagnosed patients who are eligible for autologous stem cell transplant
    • In combination with pomalidomide and dexamethasone in patients who have received at least one prior line of therapy including lenalidomide and a proteasome inhibitor
    • In combination with carfilzomib and dexamethasone in patients with relapsed or refractory multiple myeloma who have received one to three prior lines of therapy
    • In combination with bortezomib and dexamethasone in patients who have received at least one prior therapy
    • As monotherapy in patients who have received at least three prior lines of therapy including a proteasome inhibitor (PI) and an immunomodulatory agent or who are double-refractory to a PI and an immunomodulatory agent

    CONTRAINDICATIONS
    DARZALEX® is contraindicated in patients with a history of severe hypersensitivity (eg, anaphylactic reactions) to daratumumab or any of the components of the formulation.

    WARNINGS AND PRECAUTIONS

    Infusion-Related Reactions
    DARZALEX® can cause severe and/or serious infusion-related reactions including anaphylactic reactions. These reactions can be life threatening, and fatal outcomes have been reported. In clinical trials (monotherapy and combination: N=2066), infusion-related reactions occurred in 37% of patients with the Week 1 (16 mg/kg) infusion, 2% with the Week 2 infusion, and cumulatively 6% with subsequent infusions. Less than 1% of patients had a Grade 3/4 infusion-related reaction at Week 2 or subsequent infusions. The median time to onset was 1.5 hours (range: 0 to 73 hours). Nearly all reactions occurred during infusion or within 4 hours of completing DARZALEX®. Severe reactions have occurred, including bronchospasm, hypoxia, dyspnea, hypertension, tachycardia, headache, laryngeal edema, pulmonary edema, and ocular adverse reactions, including choroidal effusion, acute myopia, and acute angle closure glaucoma. Signs and symptoms may include respiratory symptoms, such as nasal congestion, cough, throat irritation, as well as chills, vomiting, and nausea. Less common signs and symptoms were wheezing, allergic rhinitis, pyrexia, chest discomfort, pruritus, hypotension and blurred vision.

    When DARZALEX® dosing was interrupted in the setting of ASCT (CASSIOPEIA) for a median of 3.75 months (range: 2.4 to 6.9 months), upon re-initiation of DARZALEX®, the incidence of infusion-related reactions was 11% for the first infusion following ASCT. Infusion-related reactions occurring at re-initiation of DARZALEX® following ASCT were consistent in terms of symptoms and severity (Grade 3 or 4: <1%) with those reported in previous studies at Week 2 or subsequent infusions. In EQUULEUS, patients receiving combination treatment (n=97) were administered the first 16 mg/kg dose at Week 1 split over two days, ie, 8 mg/kg on Day 1 and Day 2, respectively. The incidence of any grade infusion-related reactions was 42%, with 36% of patients experiencing infusion-related reactions on Day 1 of Week 1, 4% on Day 2 of Week 1, and 8% with subsequent infusions.

    Pre-medicate patients with antihistamines, antipyretics, and corticosteroids. Frequently monitor patients during the entire infusion. Interrupt DARZALEX® infusion for reactions of any severity and institute medical management as needed. Permanently discontinue DARZALEX® therapy if an anaphylactic reaction or life-threatening (Grade 4) reaction occurs and institute appropriate emergency care. For patients with Grade 1, 2, or 3 reactions, reduce the infusion rate when re-starting the infusion.

    To reduce the risk of delayed infusion-related reactions, administer oral corticosteroids to all patients following DARZALEX® infusions. Patients with a history of chronic obstructive pulmonary disease may require additional post-infusion medications to manage respiratory complications. Consider prescribing short- and long-acting bronchodilators and inhaled corticosteroids for patients with chronic obstructive pulmonary disease.

    Ocular adverse reactions, including acute myopia and narrowing of the anterior chamber angle due to ciliochoroidal effusions with potential for increased intraocular pressure or glaucoma, have occurred with DARZALEX® infusion. If ocular symptoms occur, interrupt DARZALEX® infusion and seek immediate ophthalmologic evaluation prior to restarting DARZALEX®.

    Interference With Serological Testing
    Daratumumab binds to CD38 on red blood cells (RBCs) and results in a positive indirect antiglobulin test (indirect Coombs test). Daratumumab-mediated positive indirect antiglobulin test may persist for up to 6 months after the last daratumumab infusion. Daratumumab bound to RBCs masks detection of antibodies to minor antigens in the patient’s serum. The determination of a patient’s ABO and Rh blood type is not impacted. Notify blood transfusion centers of this interference with serological testing and inform blood banks that a patient has received DARZALEX®. Type and screen patients prior to starting DARZALEX®.

    Neutropenia and Thrombocytopenia
    DARZALEX® may increase neutropenia and thrombocytopenia induced by background therapy. Monitor complete blood cell counts periodically during treatment according to manufacturer’s prescribing information for background therapies. Monitor patients with neutropenia for signs of infection. Consider withholding DARZALEX® until recovery of neutrophils or for recovery of platelets.

    Interference With Determination of Complete Response
    Daratumumab is a human immunoglobulin G (IgG) kappa monoclonal antibody that can be detected on both the serum protein electrophoresis (SPE) and immunofixation (IFE) assays used for the clinical monitoring of endogenous M-protein. This interference can impact the determination of complete response and of disease progression in some patients with IgG kappa myeloma protein.

    Embryo-Fetal Toxicity
    Based on the mechanism of action, DARZALEX® can cause fetal harm when administered to a pregnant woman. DARZALEX® may cause depletion of fetal immune cells and decreased bone density. Advise pregnant women of the potential risk to a fetus. Advise females with reproductive potential to use effective contraception during treatment with DARZALEX® and for 3 months after the last dose.

    The combination of DARZALEX® with lenalidomide, pomalidomide, or thalidomide is contraindicated in pregnant women because lenalidomide, pomalidomide, and thalidomide may cause birth defects and death of the unborn child. Refer to the lenalidomide, pomalidomide, or thalidomide prescribing information on use during pregnancy.

    ADVERSE REACTIONS
    The most frequently reported adverse reactions (incidence ≥20%) were: upper respiratory infection, neutropenia, infusion related reactions, thrombocytopenia, diarrhea, constipation, anemia, peripheral sensory neuropathy, fatigue, peripheral edema, nausea, cough, pyrexia, dyspnea, and asthenia. The most common hematologic laboratory abnormalities (≥40%) with DARZALEX® are: neutropenia, lymphopenia, thrombocytopenia, leukopenia, and anemia.

    Please click here to read the full Prescribing Information for DARZALEX®.

    About Johnson & Johnson
    At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity.

    Learn more at https://www.jnj.com/ or at www.innovativemedicine.jnj.com.

    Janssen Research & Development, LLC, Janssen Biotech, Inc., Janssen Global Services, LLC and Janssen Scientific Affairs, LLC are Johnson & Johnson companies.

    Cautions Concerning Forward-Looking Statements
    This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding product development and the potential benefits and treatment impact of TECVAYLI® (teclistamab-cqyv) and DARZALEX FASPRO® (daratumumab and hyaluronidase-fihj). The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.govwww.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

    Footnotes
    *Roberto Mina, M.D., Associate Professor, Winship Cancer Institute of Emory University, formerly Assistant Professor, University of Turin, Turin, Italy, has provided consulting, advisory, and speaking services to Johnson & Johnson; he has not been paid for any media work.

    1 MajesTEC-9, NCT05572515. A Phase 3 Randomized Study Comparing Teclistamab Monotherapy Versus Investigator’s Choice of PVd (Pomalidomide, Bortezomib, Dexamethasone) or Kd (Carfilzomib, Dexamethasone) in Participants With Relapsed or Refractory Multiple Myeloma. https://clinicaltrials.gov/study/NCT05572515. Accessed January 2026.

    2 Mateos, M.V., Moreau, P., Garfall, A. L., van de Donk, N. W. C. J., et al. (2025) Teclistamab plus daratumumab versus standard regimens in relapsed or refractory multiple myeloma: MajesTEC-3 Trial Results. The New England Journal of Medicine, 393(23), https://doi.org/10.1056/NEJMoa2514663.

    3 MajesTEC-3, NCT05083169. A Phase 3 Randomized Study Comparing Teclistamab + Subcutaneous Daratumumab (Tec-Dara) Versus Daratumumab SC + Pomalidomide + Dexamethasone (DPd) or Daratumumab SC + Bortezomib + Dexamethasone (DVd). https://clinicaltrials.gov/study/NCT05083169. Accessed January 2026.

    4 U.S. FDA Approves TECVAYLI® (teclistamab-cqyv), the First Bispecific T-cell Engager Antibody for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma. https://www.jnj.com/u-s-fda-approves-tecvayli-teclistamab-cqyv-the-first-bispecific-t-cell-engager-antibody-for-the-treatment-of-patients-with-relapsed-or-refractory-multiple-myeloma. Accessed January 2026.

    5 DARZALEX FASPRO® U.S. Prescribing Information.

    6 DARZALEX® U.S. Prescribing Information.

    7 Rajkumar SV. Multiple Myeloma: 2020 Update on Diagnosis, Risk-Stratification and Management. Am J Hematol. 2020;95(5):548-567. http://www.ncbi.nlm.nih.gov/pubmed/32212178.

    8 National Cancer Institute. Plasma cell neoplasms. National Institutes of Health. https://www.cancer.gov/types/myeloma/patient/myeloma-treatment-pdq. Accessed January 2026.

    9 City of Hope. Multiple myeloma: Causes, symptoms & treatments. https://www.cancercenter.com/cancer-types/multiple-myeloma. Accessed January 2026.

    10 American Cancer Society. Myeloma cancer statistics. https://cancerstatisticscenter.cancer.org/types/myeloma. Accessed January 2026.

    11 SEER Explorer: An interactive website for SEER cancer statistics [Internet]. Surveillance Research Program, National Cancer Institute. https://seer.cancer.gov/explorer/. Accessed January 2026.

    12 American Cancer Society. What is multiple myeloma? https://www.cancer.org/cancer/multiple-myeloma/about/what-is-multiple-myeloma.html. Accessed January 2026.

    13 American Cancer Society. Multiple myeloma early detection, diagnosis, and staging. https://www.cancer.org/cancer/types/multiple-myeloma/detection-diagnosis-staging/detection.html. Accessed January 2026.

    SOURCE Johnson & Johnson

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  • Stock market today: Live updates

    Stock market today: Live updates

    Traders work on the floor of the New York Stock Exchange (NYSE) in New York on January 14, 2026.

    Timothy A. Clary | Afp | Getty Images

    Stocks moved lower on Wednesday for a second day, pulling back further from record levels, as traders digested a fresh batch of earnings and monitored geopolitical developments.

    The S&P 500 traded 0.9% lower, while the Dow Jones Industrial Average lost 164 points, or 0.3%. The Nasdaq Composite shed 1.5%.

    Tech bogged down the broader market. Chip stocks in particular suffered losses, as Broadcom, Nvidia and Micron Technology shed 5%, 2% and 1%, respectively. On Wednesday, Reuters, citing people briefed on the matter, reported that Chinese customs authorities have advised customs agents that Nvidia’s H200 chips are not permitted to enter the country.

    Wells Fargo was among the laggards in the session, falling more than 5% after the company posted weaker-than-expected revenue for the fourth quarter. Bank of America and Citigroup were lower despite their results beating consensus estimates, as traders didn’t view them as strong enough to continue supporting a market trading near record highs.

    That adds to their losses for the week in the wake of President Donald Trump’s call for credit card interest rate reform that he made on Friday. Bank of America is down roughly 7% week to date, while Citigroup and Wells Fargo have both fallen about 8%.

    Stocks were lower even after delayed producer price index and retail sales data for November came in solid.

    “If you translate this PPI number into what core PCE will look like, I think it’s going to come in a little hot,” said Tom Graff, chief investment officer at Facet. “If that’s true, then that’s a pretty big problem for the Fed. This exacerbates the worry about Fed independence.”

    Trump’s attacks on Federal Reserve Chair Jerome Powell continued Tuesday amid growing worries over the central bank’s independence as the Justice Department conducts a criminal investigation into the Fed’s leader. Global central bankers have since come out in defense of Powell in response to the probe’s launch.

    “What happens if we get to, let’s say, the second half of this year, there’s a new Fed chair and maybe the Fed should be hiking, or maybe they definitely shouldn’t be cutting, because the economy had kind of leveled out and inflation has picked back up,” Graff said. “Traders are gonna get worried about that.”

    Rising geopolitical risk

    Geopolitical uncertainty also weighed on sentiment Wednesday, with oil rising for a fifth day amid fears of supply disruptions as a result of civil unrest in Iran — a top member of OPEC — and mounting tensions between that country and the U.S.

    President Donald Trump canceled all meetings with Iranian officials on Tuesday and told protesters that “help is on its way.” Crude oil prices advanced more than 2% that day and were last up around 1% Wednesday.

    Crunch talks are also set to take place Wednesday between the Trump administration and Greenlandic and Danish officials as Trump pushes for U.S. control of Greenland. The president was resolute in his position heading into the meeting, deeming anything less than Greenland becoming a part of the U.S. as “unacceptable.”

    “The United States needs Greenland for the purpose of National Security. It is vital for the Golden Dome that we are building. NATO should be leading the way for us to get it,” he said in a Truth Social post.

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