United States

Baby formula shortage in US not a threat in Canada, Retail Council of Canada says

Shelves typically stocked with baby formula sit mostly empty at a store in San Antonio, on May 10.Eric Gay/The Associated Press Baby formula shortages in the United States caused by a major recall and the closing of a manufacturing facility are not likely to spill into Canada, the Retail Council of Canada says. The shortages …

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Cryptocurrencies nurse mega losses; Bitcoin back above $30,000 | Crypto News

Cryptocurrencies nursed large losses on Friday, with Bitcoin back above $30,000 and but still set for a record losing streak after the collapse of TerraUSD, a so-called stablecoin, rippled through cryptocurrency markets. Crypto assets have also been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. Sentiment …

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With electric pickup, SUV, Volkswagen looks to get its mojo back and invest in Canada

Herbert Diess, CEO of Volkswagen, introduces the Volkswagen concept car ID Vizzion during its launch at the Beijing Auto Show on April 25, 2018.WANG ZHAO/Getty Images It’s been a long time coming, but Volkswagen is trying to get its mojo back in North America. There’ll be a new electric hippie bus, and the rebirth of …

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Elon Musk says deal to buy Twitter ‘temporarily on hold’ | Business and Economy News

The billionaire says the deal was temporarily on hold pending details over spam and fake Twitter accounts. Billionaire Elon Musk has announced that his $44bn deal for Twitter Inc was temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5 percent of users. “Twitter deal …

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Oil rises 4% as US gasoline prices jump to record high | Oil and Gas News

Global benchmark Brent fell for the first time in three weeks. Oil prices rose about 4 percent on Friday as United States 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 …

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Two managers fired from Twitter amid Musk takeover | Social Media News

Twitter confirmed both departures and said the company is pausing most hiring except for business-critical roles. Twitter fired two of its top managers Friday, the latest sign of internal turmoil amid Tesla billionaire Elon Musk’s planned buyout of the company. One Twitter general manager, Kayvon Beykpour, is leaving after seven years. In a series of …

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‘Absolutely nothing’: Desperate parents swap, sell baby formula | Food News

A baby formula shortage in the United States is driving parents to swap, sell and offer leftover supplies to each other, while President Joe Biden plans to speak with manufacturers and retailers Thursday about the plight facing families. The problem is the result of supply chain disruptions and a safety recall, and has had a …

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US baby formula crisis: Abbott could start production in 2 weeks | Business and Economy News

Supply chain snags, product recalls and runaway inflation have made it very difficult to find baby formula in the United States. Abbott Laboratories said on Wednesday it could restart production of infant formula at its troubled Michigan facility within two weeks. The company in February recalled some baby formulas, including certain Similac products, made at …

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Coinbase plunges to new lows as cryptocurrency skepticism spreads | Business and Economy News

Shares plunged 23% to $56.04 in New York, a far cry from its first-day closing price of $328.28 last April. Coinbase Global Inc. shares and bonds fell to new lows Wednesday, signaling investor skepticism about the prospects of the crypto exchange in a bear-market. Shares plunged 23% to $56.04 as of 10:17 am in New …

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Elon Musk says he would lift Trump’s Twitter ban | Donald Trump News

Investor says decision to permanently suspend former president alienated parts of US but did not ‘end Trump’s voice’. Billionaire Elon Musk has said he would reverse Donald Trump’s Twitter ban should he succeed in taking ownership of the social media company. Speaking at the Financial Times Future of the Car conference on Tuesday, the Tesla …

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