Closures

• BioNTech revealed plans to close manufacturing sites in Germany and Singapore, impacting up to 1,860 jobs, as it shifts from COVID-19 vaccine production to oncology therapies. • The company, which co-developed the mRNA vaccine Comirnaty with Pfizer, will also repurchase up to $1 billion in shares amid a leadership transition. • This restructuring reflects the post-pandemic decline in demand for COVID vaccines, positioning BioNTech to focus on cancer treatments with greater long-term potential.

Kevin Warsh, seeking to replace Fed chair, Jerome Powell, had to file financial disclosures for Senate approvalKevin Warsh, the former Federal Reserve governor chosen by Donald Trump to lead the central bank, has submitted financial disclosures that suggest he holds assets worth well over $100m.The document is required for his nomination to advance through the Senate, beginning with a yet-to-be-scheduled hearing. Continue reading...

• Bank mergers are surging in the US, driving increased branch closures particularly in rural areas as institutions cut costs to compete with online banks. • Ohio leads with six closures announced in 2026, including Cincinnati, Cleveland, and Columbus; Texas follows with four, while South Dakota, Delaware, Illinois, and Florida each report three. • Closures echo a decade-long trend, with 15% of US bank branches shuttered between 2015 and 2024 per Statista data.

New measures will protect Tata and British Steel but allow foreign pre-made parts into the UK, say industry bossesSteel bosses have warned ministers that a “back door” in new trade rules could hit British manufacturers and lead to job cuts and factory closures by allowing a vast array of foreign products to still enter the UK tax-free.The loophole means pre-made steel parts ranging from bridge sections, columns and door frames, all the way to smaller rods and tubes used in buildings, will escape recently announced import tariffs, the Guardian understands. Continue reading...

• A STAT national survey reveals NIH funding interruptions are causing layoffs, lab closures, and driving early-career scientists away from research careers due to federal budget and priority changes. • Harvard researcher Josiemer Mattei had her diabetes prevention trial in Puerto Rico terminated in May 2025 when the administration cut over $2.8 billion in grants across the university, forcing her to scramble to relocate the study to avoid losing patients and data. • The NIH remains committed to fully spending its 2026 budget but lags significantly behind prior years in grant awards and disbursements, with researchers reporting taking 95% pay cuts to avoid staff layoffs.

• Federal grant funding for FQHCs stayed flat from 2019-2023 while health care costs rose over 25%, leading to negative margins of 2.1% by 2024. • An estimated 11.8 million Americans will lose Medicaid coverage due to $344 billion cuts over the next decade, overwhelming FQHCs with uninsured patients. • Recent closures include a New Hampshire rural site in 2025 and six South Carolina locations last year due to shortfalls.