On Monday evening, baby formula producer Abbott announced it had reached a deal with the Food and Drug Administration, laying out a path to reopen a factory in Sturgis, Michigan, that shut down amid recalls earlier this year, contributing to the current shortage. In a statement, the company confirmed that it has entered into a consent … Read more
U.S. shoppers increased retail spending in April for the fourth straight month, taking on higher prices with inflation close to its highest level in four decades. Retail sales—a measure of spending at stores, online and in restaurants—rose a seasonally adjusted 0.9% in April from the prior month, the Commerce Department said Tuesday.
The Food and Drug Administration on Monday reached an agreement with Abbott Laboratories on the steps needed to reopen the company’s shuttered baby formula plant, which could begin to ease the shortage of infant formula that has frightened and exasperated parents nationwide. The F.D.A. said it expected Abbott to restart production in about two weeks, … Read more
Take a look at some of the biggest movers in the premarket: Walmart (WMT) – Walmart slumped 7% in premarket trading after missing bottom-line expectations for the first quarter. The retail giant earned $1.30 per share, 18 cents a share below estimates as inflationary pressures offset the positive impact of better-than-expected sales. Home Depot (HD) … Read more
Gas prices in Florida have risen again overnight, marking a new record high Tuesday. The average cost for a gallon in our state is now $4.50, according to AAA.We’ve been hitting new highs at gas pumps since last week.But our state is not alone. The national average for fuel jumped four cents this morning — … Read more
Shares recover even as growth, inflation fears linger Reuters.comView Full Coverage on Google News
Elon Musk said he believes the US is probably in a recession that could last up to 18 months. The billionaire slammed the Biden Administration for printing “a zillion more dollars than it has.” Musk made the comments at a tech conference in Miami on Monday. Loading Something is loading. Elon Musk said on Monday … Read more
Without citing a source, Musk claimed in a tweet that Twitter is “20% fake/spam accounts” and suggested Twitter’s filings with the Securities and Exchange Commission were misleading. The company has said that less than 5% of its daily active users are spam accounts. “My offer was based on Twitter’s SEC filings being accurate,” Musk tweeted. … Read more
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May 17 (Reuters) – Elon Musk said on Tuesday his $44 billion offer would not move forward until Twitter Inc (TWTR.N) shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company. “My offer was based on Twitter’s SEC filings … Read more
A Republican congresswoman took a trip to the US-Mexico border to expose the stockpiling of baby formula being sent to border facilities while American families continue to face empty shelves amid a nationwide shortage. Rep. Kat Cammack, of Florida, was accused of lying about the formula crisis after she shared photos she was sent by … Read more