Elon Musk Does Not Fear A Recession

Elon Musk Does Not Fear A Recession

Elon Musk makes the news. He is everywhere. The chief executive officer of premium electric vehicle maker Tesla (TSLA) – Get Tesla Inc Report is somewhat reminiscent of former Republican President Donald Trump when the latter was in office. Like Trump, Twitter is Musk’s main communication channel. Like the real estate developer, the tech tycoon … Read more

China signals easing of tech crackdown but don’t expect policy U-turn

China signals easing of tech crackdown but don't expect policy U-turn

China has shown signs of easing its crackdown on the technology sector which has wiped billions of dollars of value from its most prominent companies. But analysts said Beijing’s recent positive rhetoric should not be mistaken for a reversal of policy. “I think the big tech companies will have a grace period for maybe the … Read more

House Democrats to hold hearings, introduce legislation

House Democrats to hold hearings, introduce legislation

House Democrats will hold hearings on the baby formula shortage in the US, and move to pass legislation to increase Food and Drug Administration inspection staff to ensure that imported products are safe for infants to consume. Rep. Rosa DeLauro, chair of the House Appropriations Committee, introduced legislation on Tuesday that would provide the FDA … Read more

Conspiracy theorists flock to bird flu, spreading falsehoods

Conspiracy theorists flock to bird flu, spreading falsehoods

Brad Moline, a fourth-generation Iowa turkey farmer, saw this happen before. In 2015, a virulent avian flu outbreak nearly wiped out his flock. Barns once filled with chattering birds were suddenly silent. Employees were anguished by having to kill sickened animals. The family business, started in 1924, was at serious risk. His business recovered, but … Read more

FDA announces it will make it easier to import some baby formulas to ease shortage

FDA announces it will make it easier to import some baby formulas to ease shortage

The US ordinarily produces 98% of the infant formula it uses, with imported formula primarily coming from Mexico, Ireland and the Netherlands, the agency said in a statement. But because of the shortage, the FDA is outlining a process by which it “would not object to the importation of certain infant formula products intended for … Read more

Abbott reaches agreement with FDA to reopen baby formula plant to ease nationwide shortage

Abbott reaches agreement with FDA to reopen baby formula plant to ease nationwide shortage

A woman shops for baby formula at Target in Annapolis, Maryland, on May 16, 2022, as a nationwide shortage of baby formula continues due to supply chain crunches tied to the coronavirus pandemic that have already strained the countrys formula stock, an issue that was further exacerbated by a major product recall in February. jim … Read more

On hold for 72 minutes and apologetic customer service representatives: Testing out resources from the Biden administration’s new website for parents looking for baby formula

On hold for 72 minutes and apologetic customer service representatives: Testing out resources from the Biden administration's new website for parents looking for baby formula

The White House was unable to point to federal guidance last Thursday on what parents struggling to find formula should do, and recommended that families reach out to their doctors and pediatricians if they were worried about their babies’ health. Then on Friday, it unveiled a new website: HHS.gov/formula. “We recognize that parents have a … Read more

US pilot shortage forces airlines to cut flights, scramble for solutions

US pilot shortage forces airlines to cut flights, scramble for solutions

Airline pilots walk through the Ronald Reagan Washington National Airport on December 27, 2021 in Arlington, Virginia. Anna Moneymaker | Getty Images The United States is facing its worst pilot shortage in recent memory, forcing airlines to cut flights just as travelers are returning after more than two years of the Covid-19 pandemic. The crisis … Read more

Biden dismisses the idea that his administration should have acted sooner on baby formula shortage

Biden dismisses the idea that his administration should have acted sooner on baby formula shortage

CNN — President Joe Biden on Friday defended the White House’s response to a months-long shortage of infant formula in the United States and dismissed the idea that his administration should have acted sooner, saying they “moved as quickly as a problem became apparent to us.” Following remarks in the White House Rose Garden, Biden … Read more

Regulators anxious about stablecoins like tether after UST collapse

Regulators anxious about stablecoins like tether after UST collapse

The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the US dollar, has erased much of its value this week … Read more