SFC Fluidics invests in insulin pump
Fayetteville-based SFC Fluidics Inc. has completed a $2 million series B investment round to help develop a disposable insulin patch pump smaller than any on the market.
The investment round will help commercialize the technology, which involves a small pump less than 2 inches in diameter that offers precise, pain-free dosing, according to a company release. A strategic partner with experience in the production of medical devices cleared by the U.S. Food and Drug Administration led the investment round.
When asked, a spokesman for SFC Fluidics declined to name the partner, saying the partner wanted to remain anonymous.
SFC Fluidics said the low-cost pump could potentially improve the quality of life for insulin-dependent diabetics who rely on manual injections. Clinical studies will begin in 2015, and the device could be ready for market in 2016.
In late January, SFC Fluidics Inc. said it was awarded a $1.5 million grant to further develop its technology to detect traumatic brain injuries. The company received the Phase 2 research grant from the National Institutes of Health. The company also is developing a 10-minute blood test that will help with the triage of patients suffering from concussions.
SFC Fluidics is a VIC Technology Venture Development portfolio company. Fayetteville-based VIC has 12 portfolio companies in fields including nanotechnology, cancer diagnostics, pharmaceuticals and semiconductors.
-- John Magsam
Goldman probed for high-speed trading
Federal regulators are scrutinizing Goldman Sachs' high-frequency trading operations, the latest crackdown on what the government sees as potential market manipulation by some of Wall Street's biggest banks.
In recent months, federal authorities have increased their scrutiny of high-frequency trading, a general term used to describe methods by which firms can buy and sell stocks before other investors.
In April, Attorney General Eric Holder Jr. confirmed that the U.S. Department of Justice was investigating high-speed trading "to determine whether it violates insider trading laws." Eric Schneiderman, the New York attorney general, has called the practice "Insider Trading 2.0."
Goldman disclosed that it was under investigation in a regulatory filing Friday but did not identify by which agency. The filing also confirmed that the bank was under investigation for potential violations of the Foreign Corrupt Practices Act, including its hiring practices abroad.
In addition, Goldman said in the filing that it expects its litigation expenses to remain "high" and disclosed that it had increased its reserves to pay for legal expenses to $3.7 billion from $3.6 billion.
A spokesman for Goldman declined to comment.
-- The New York Times
Ford recalls 1.4 million '13-14 vehicles
In two actions, Ford is recalling nearly 1.4 million vehicles from the 2013-14 model years for an air bag malfunction and for door handles that may not latch properly, the automaker said Friday. The air bag issue covers about 692,500 Escape and C-Max models, including 591,000 in the United States, about 78,000 in Canada and almost 19,700 in Mexico.
The air bag problem involves what Ford calls its "safety canopy" -- an air bag that deploys from the ceiling near the windows to protect an occupant's head in a side impact crash or rollover. Ford said a computer-software issue could delay the canopy's deployment "in certain rollover circumstances, potentially increasing the risk of injury."
The door handle defect affects 692,700 Escapes, including about 580,000 in the United States, 89,500 in Canada and 20,000 in Mexico. Ford said any of the vehicle's door handles could malfunction and fail to latch properly, allowing the doors to open when the vehicle was in motion.
Ford said it was not aware of any accidents or injuries because of the defects.
-- The New York Times
Laundry powder pulled over packaging
BERLIN -- Detergent manufacturer Procter & Gamble has prompted anger in Germany after unintentionally placing a neo-Nazi code on promotional packages for Ariel washing powder.
Outraged shoppers have posted pictures online of Ariel boxes featuring a large number "88" on a white soccer jersey.
The use of Nazi slogans in public is banned in Germany, which neo-Nazis often try to circumvent by using codes. They use "88" to represent the phrase "Heil Hitler," because "H" is the eighth letter of the alphabet. Similarly, "18" is used to stand for "A.H." or Adolf Hitler.
Procter & Gamble acknowledged Friday that the number was "unintentionally ambiguous." Spokesman Melanie Schnitzler said the company has stopped shipping the offending powder, as well as a liquid detergent that was being promoted as "Ariel 18."
-- The Associated Press
EPA considers fracking-disclosure rule
The U.S. Environmental Protection Agency took the first formal step toward requiring oil and gas drillers to disclose the chemicals they use in hydraulic fracturing, or fracking.
The agency Friday announced the start of a process that could result in companies being forced to report to the government, and possibly the public, the chemicals they add to sand and water to break apart shale rock and to release oil and gas trapped deep underground. The government also said it is considering ways to encourage the development and use of safer chemicals in fracking.
-- Bloomberg News
Business on 05/10/2014