By Ahmed Aboulenein and Eric Beech WASHINGTON (Reuters) -The United States will allow baby formula imports from foreign makers that do not usually sell their products here, the Food and Drug Administration said on Monday, as it tries to ease a nationwide shortage that has left parents scrambling to feed their babies. The temporary move… Continue reading U.S. to allow baby formula imports amid nationwide shortage
Author: Reuters
Gold ticks up as dip in U.S. yields loosens dollar’s grip
By Ashitha Shivaprasad (Reuters) – Gold rose slightly on Monday as a retreat in U.S. Treasury yields offset headwinds from a relatively firm dollar, which, along with looming interest rate hikes, earlier pushed bullion to a more than three-and-a-half-month low. Spot gold rose 0.3% to $1,817.12 per ounce by 1:52 p.m. ET (1752 GMT), after… Continue reading Gold ticks up as dip in U.S. yields loosens dollar’s grip
Wall Street rallies, weekly losing streak continues
By Stephen Culp NEW YORK (Reuters) – Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession. Gains were led by a rebound in… Continue reading Wall Street rallies, weekly losing streak continues
Oil jumps 4% as U.S. gasoline prices hit record high
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Brent futures rose $4.10, or 3.8%, to settle at $111.55 a barrel. U.S.… Continue reading Oil jumps 4% as U.S. gasoline prices hit record high
Accused NY subway shooter pleads not guilty to terrorism, weapons charges
By Luc Cohen and Brendan Pierson NEW YORK (Reuters) -A man charged with last month’s mass shooting in a New York subway, one of the most violent attacks in the history of the city’s transit system, pleaded not guilty to terrorism and weapons charges in Brooklyn federal court on Friday. Frank James, 62, is accused… Continue reading Accused NY subway shooter pleads not guilty to terrorism, weapons charges
Abbott says shipped millions of cans of infant formula from Ireland
(Reuters) -Abbott Laboratories said on Friday it has air shipped millions of cans of infant formula powder into the United States from its facility in Ireland to address shortages here as it tries to reopen its Michigan manufacturing plant. The company said in a blog https://www.abbott.com/corpnewsroom/nutrition-health-and-wellness/abbott-update-on-powder-formula-recall.html it was shipping infant formula produced at its Cootehill,… Continue reading Abbott says shipped millions of cans of infant formula from Ireland
Crypto exchange FTX CEO reveals stake in trading app Robinhood
By Greg Roumeliotis and Hannah Lang (Reuters) -Samuel Bankman-Fried, the chief executive and founder of cryptocurrency exchange FTX, revealed a 7.6% stake in Robinhood Markets Inc on Thursday, capitalizing on the weakness of the shares of the trading app to build a position. Bankman-Fried said in a regulatory filing he did not have any intention… Continue reading Crypto exchange FTX CEO reveals stake in trading app Robinhood
Aeroflot buys eight stranded Airbuses from foreign leasing firms
By Kevin Liffey LONDON (Reuters) – Russia’s biggest airline, Aeroflot, said on Friday it had bought eight Airbus A330 aircraft from foreign leasing companies “as part of the fulfilment of contractual obligations”. More than 400 aircraft leased from Western firms, worth almost $10 billion, have been stranded in Russia since Western sanctions forced the lessors… Continue reading Aeroflot buys eight stranded Airbuses from foreign leasing firms
Why are food prices going up? Key questions answered
CHICAGO (Reuters) – Why are food prices rising? Global food prices started to rise in mid-2020 when businesses shut down due to the COVID-19 pandemic, straining supply chains. Farmers dumped out milk and let fruits and vegetables rot due to a lack of available truckers to transport goods to supermarkets, where prices spiked as consumers stockpiled… Continue reading Why are food prices going up? Key questions answered
Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei
(Reuters) – Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday. The Chinese e-commerce giant could not be immediately reached for comment. Citing an employee with knowledge of the matter, the report said it was… Continue reading Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei