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 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 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
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
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
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
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
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
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
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