•Alector confirmed the discontinuation of the Phase 2 PROGRESS-AD trial for nivisnebart after an independent data monitoring committee determined it was unlikely to meet its primary endpoint.
•Albany Engineered Composites, a segment of Albany International Corp., received a long-term contract to produce composite structural engine components for Pratt & Whitney GTF engines.
•The contract with Pratt & Whitney, an RTX business, extends through the year 2036.
•Jerome Powell announced he will continue to serve as a member of the Federal Reserve Board of Governors for an undetermined period after his term as chair ends in mid-May.
•Powell cited lingering legal threats against him and the Federal Reserve as a reason for his decision to remain at the central bank.
•The announcement comes as the Senate Banking Committee approved Kevin Warsh’s nomination to succeed Powell.
•BNP Paribas has concluded an agreement to sell its entire 67% controlling interest in Banque Marocaine pour le Commerce et l'Industrie (BMCI) to Holmarcom Finance Company.