FEDERATED/MACY'S CLOSING SIX NEW YORK STORES under a Sept. 19 agreement in principle with New York Attorney General Oliver Koppell. Federated Department Stores has agreed to sell six stores located in the New York metropolitan area to other department, specialty or mass merchandising stores within two years of the closing date of the Federated/Macy's merger, in order to allay the AG's fears that the combined company would comprise a "virtual monopoly." Federated and R. H. Macy & Co. announced their agreement to merge July 14 ("The Rose Sheet" July 18, p. 9). The deal is expected to close in December, pending bankruptcy court approval of the company's disclosure statement and joint Plan of Reorganization at a Sept. 29 hearing.
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The US FTC’s contention that ‘notice and choice’ has failed as the cornerstone of consumer privacy regulation and must be abandoned in favor of data minimization and other more stringent measures does not adequately account for the complexity of business practices and consumer behavior, FTC commissioner Melissa Holyoak asserted at the NAD’s 2024 Annual Conference.
FTC Commissioner Melissa Holyoak says the agency has acted outside the bounds afforded by Congress, citing several areas within consumer protection, including a recent update to the final rule for the Health Breach Notification Rule and the commission’s use of notices of penalty offense to serve as the basis for Section 5 settlements.
At one year, TikTok Shop conjures the early days of Amazon, representing the ‘Wild West’ of beauty ecommerce, said co-founders of private label and contract manufacturing company KO-Pack at the IBA Cosmetics Convergence Fall 2024 Virtual Symposium, “The Promise and Pitfalls of TikTok Shop.”
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The White House requested $6.8bn for the FDA, down 3.9% from the current funding level, but does not propose any legislative changes. In previous years, the agency used the budget process to seek statutory fixes specific to generic drugs and shortages.
A US House bill would give the FDA $33.1m more in budget authority than requested by the Trump Administration for fiscal year 2026. The measure was sent to the full House Appropriations committee on a party-line vote.
The EU Council has introduced a key amendment to Article 51 (para 1, point e) of the new pharma directive: “A medicinal product shall be subject to medical prescription where it is an antimicrobial, unless intended for topical use.”
