FBR Eliminates Research Unit
FBR Capital Markets of Arlington laid off its 11-member health-care research staff and will discontinue its coverage of the sector.
President Richard J. Hendrix said the recent departure of the unit's managing director, James F. Reddoch, "may have influenced our timing to some degree, but it did not determine our decision overall. . . . We had just been unable to create revenue streams around that research to justify continuing the business."
New CEO for Giant and Stop & Shop Stores
Royal Ahold, the Dutch owner of Giant supermarkets in the United States, appointed Carl Schlicker to succeed Jose Alvarez as chief executive of its Stop & Shop/Giant-Landover unit.
Alvarez will become executive vice president for global business development, reporting to Ahold chief executive John Rishton.
Protein Sciences Challenges Emergent's Suit
Protein Sciences, the firm that agreed to be acquired by Emergent BioSolutions of Rockville, said it will defend itself against Emergent's suit, which it said "is without merit and part of its overall strategy to cripple PSC."
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.