Bulletin Business Briefs

Published 6:03 pm Thursday, January 25, 2024

The maker of Robitussin cough syrup is recalling several lots of products containing honey due to contamination that could pose a serious risk to people with weakened immune systems.

Haleon’s recall covers eight lots of Robitussin Honey CF Max Day Adult and Robitussin Honey CF Max Nighttime Adult, which were distributed to stores and pharmacy suppliers. The Food and Drug Administration posted the company’s announcement to its website Wednesday.

The products have the potential to cause “severe or life-threatening adverse events,” if taken by people with weakened immune systems, such as organ transplant recipients or those with HIV. For most healthy individuals, any infections resulting from the products are unlikely to be serious, the company said.

Haleon did not disclose the nature of the contamination but said use of the products could result in severe fungal infections.

The average rate on 30-year fixed mortgages ticked up to 6.93% this week from 6.88% the previous week, according to Bankrate’s weekly national survey of large lenders.

Just a few months ago, the average rate on 30-year home loans topped 8%. Mortgage rates dropped after the Federal Reserve indicated it’d begin cutting its key rate in 2024. The central bank’s long-awaited pivot was spurred by a number of factors, including a slowing job market and signs that the Fed’s ongoing war on inflation is working.

Meanwhile, yields on 10-year Treasury bonds, an informal benchmark for 30-year mortgage rates, remain around 4%. The Fed doesn’t directly control mortgage rates, but it plays a pivotal role. At the conclusion of its most recent meeting on Dec. 13, the Federal Open Markets Committee decided to leave rates unchanged.

The drop in rates from October somewhat eases the housing affordability squeeze. It also bodes well for a housing market that has been sluggish since 2022.

Microsoft is laying off about 1,900 employees in its gaming division, according to an internal company memo, just over three months since the tech giant completed its $69 million purchase of video game maker Activision Blizzard.

The job cuts represent about an 8% reduction of Microsoft’s 22,000-person gaming workforce, the memo, obtained by The Associated Press Thursday, notes.

Those affected worked on teams for Activision Blizzard as well as Xbox and ZeniMax — which are also owned by Microsoft. Blizzard president Mike Ybarra announced that he would be leaving the company in a post on X, the platform formerly known as Twitter, Thursday.

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