Abbott says shipped millions of cans of infant formula from Ireland

FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the NYSE in New York

(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

FILE PHOTO: The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City

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

Logo of Aeroflot is seen on top of building in Moscow

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

FILE PHOTO: Soup kitchens on the outskirts of Lima struggle with inflation

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

FILE PHOTO: Man walks past a logo of Alibaba Group at its office building in Beijing

(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

How much Fed must do depends on supply outlook: Kashkari

FILE PHOTO: President of the Federal Reserve Bank of Minneapolis Neel Kashkari speaks during an interview in New York

By Ann Saphir (Reuters) -The Federal Reserve will do what it needs to do to bring down very high inflation, Minneapolis Fed President Neel Kashkari said on Friday, though how much it will need to do depends in part on how quickly energy and other supply constraints dissipate. “I’m confident that my colleagues and I… Continue reading How much Fed must do depends on supply outlook: Kashkari

It May be Time to Get Greedy with Meta Platforms Stock

One of the best ways to make money is by trading fear – just like famed investors have done.  In fact, we’re seeing plenty of that in the tech sector these days, which is creating impressive opportunities.  Sir John Templeton taught us to buy excessive pessimism.  Warren Buffett says that a “climate of fear is… Continue reading It May be Time to Get Greedy with Meta Platforms Stock