Johnson & Johnson ’s (JNJ) consumer-health unit Kenvue (KVUE) soared more than 22% on its first day of trading Thursday, bringing the Club holding one step closer to completing its business separation. The planned split, which is set for later this year, is in the best interest of shareholders of both the soon-to-be-solo Kenvue operations and the new pharma and medtech-focused J & J. Kenvue closed its debut session at nearly $27 per share, giving the maker of Tylenol, Band-Aid and other...

watch now Steve Pagliuca, co-chair of private equity powerhouse Bain Capital, defended the industry, arguing Thursday that it has received an undeserved bad reputation. Private equity has actually been a “great thing for America,” he said on CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland. “Private equity is not about cost cutting. It’s about growth.” “No one wants to buy a company that is shrinking, so we spend all of our time thinking, ‘How do we grow companies? How...