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On March 21, the U.S. Food and Drug Administration (FDA) announced a recall of nearly 90,000 bottles of ibuprofen for children distributed nationwide due to consumer complaints of foreign objects in the solution. According to the FDAs recall report, the medication was manufactured in India by Progress Pharmaceuticals, an international pharmaceutical company headquartered in Bangalore, under the brand name Taro Pharma "Childrens Ibuprofen Oral Suspension," containing 100 mg of ibuprofen active ingredient per 5 ml bottle, with a capacity of 120 ml. The recall involves a total of 89,592 bottles, with an expiration date of January 31, 2027. The report indicates that the recall is due to consumer complaints of foreign objects such as "gel-like substances" and "black particles" in the solution. The FDA has classified this recall as a "Level 2 recall." According to its website, a "Level 2 recall" means that the product may cause temporary or reversible health effects, but the likelihood of serious adverse consequences is low.The US representative to the United Nations stated that any easing of sanctions on Iranian oil would be "very short-lived" and limited in duration.March 21 – According to the Financial Times, the European Commission has urged member states to lower their natural gas storage targets and adopt a gradual approach to replenishing reserves in order to alleviate market demand pressures. This comes after the war with Iran impacted key suppliers and triggered a surge in energy prices. EU Energy Commissioner Jorgensen instructed EU energy ministers not to rush to replenish their depleted gas reserves in the face of supply shortages, but to utilize flexibility to reduce demand from households and industry. Member states should reduce their gas injection targets at 80% capacity as early as possible during the injection season, 10 percentage points lower than the official EU target, to provide certainty and assurance to market participants. He suggested that countries begin replenishing reserves gradually to avoid a late-summer buying spree that could put pressure on the market, while postponing the deadline for meeting storage targets to December 1st. This is a month later than the deadline stipulated in legislation passed after the Russia-Ukraine conflict.According to the Financial Times, EU Energy Commissioner Jorgensen said that EU member states should reduce their gas injection targets for gas storage facilities to 80% of capacity, 10 percentage points lower than the official EU target.Irans Islamic Revolutionary Guard Corps: The 70th wave of retaliatory strikes against U.S. and Israeli interests in the Gulf region and elsewhere has targeted more than 55 locations.

Bentley Sales Surpass Records in 2022 Despite China's Fall

Aria Thomas

Jan 10, 2023 10:45

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Bentley, a British manufacturer of luxury automobiles, reported record sales for 2022 on Tuesday, with healthy demand offsetting a 9% drop in China due to coronavirus-related lockdowns.


The Volkswagen (ETR:VOWG p) company reported selling 15,174 vehicles in 2022, a 4% rise over 2021, which was Bentley's golden year.


Bentley's chief executive officer, Adrian Hallmark, said in a statement, "In another year of unpredictability, the company overcome significant obstacles and displayed remarkable tenacity to accomplish its third consecutive record sales year."


Except for China, every regional market saw a growth in revenue for the company. However, sales in the Americas, Bentley's largest market, grew by less than one percent.


Bentayga, a luxury SUV with an approximate starting price of 150,000 pounds ($180,000), remained Bentley's best-selling model in 2022, accounting for 42% of all vehicles sold.


Bentley has increasingly emphasized customization, using hand-stitched leather, finishes ranging from walnut to koa wood, and even 5,000-year-old wood extracted from England's low-lying wetland Fens. This boosted the average pre-tax price of a Bentley automobile by around 30% between 2018 and 2022, from 170,000 euros to 220,000 euros ($236,500).


Since Chinese shutdowns have affected demand, the company stated last month that it expected a slight decline in output in 2023.


Bentley has committed to go all electric by 2030.


Despite a downturn in Chinese demand, BMW subsidiary Rolls-Royce (OTC:RYCEY) reported record sales for 2022 with an average price of around $534,000 for its luxury autos. ($1 = 0.9302 euros)