By Leah Douglas (Reuters) – State officials and manufacuturers are working out whether baby formula imported from outside the United States to address severe supply shortages will be available to families who rely on government discounts to make it affordable, a U.S. Department of Agriculture (USDA) official said on Tuesday. Infants enrolled in the Special…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices were little changed on Tuesday in choppy trade after the U.S. energy secretary said Washington has not ruled out export restrictions to lower fuel prices. Concerns over a possible recession and China’s COVID-19 curbs also weighed on the market. Brent crude rose 9 cents to $113.51 a…
WASHINGTON (Reuters) – Senators Maria Cantwell, chair of the Commerce Committee, and Chuck Grassley, the top Republican on the Judiciary Committee, introduced a bill on Tuesday that would give the U.S. Federal Trade Commission more power to rein in pharmacy benefit managers, which administer pharmaceutical plans, Cantwell’s office said. The high cost of medical bills…
By Jessica DiNapoli and Dan Burns DAVOS, Switzerland (Reuters) – A growing world food crisis is precipitating protectionist moves by countries which are likely to compound the problem and could lead to a wider trade war, business leaders and policymakers at the World Economic Forum said. In a sign of the escalating squeeze on food…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Co will pay $19.2 million to resolve allegations it falsely advertised real-world fuel economy and payload capacity for some hybrids and pickup trucks, the Iowa Attorney General’s Office said Tuesday. The covers 2013–2014 C-Max hybrids and 2011–2014 Super Duty pickups. In 2013, Ford lowered the advertised fuel economy…
Markets began a potential bottoming process on May 12. Support levels started to form in a sideways consolidating pattern. The fallout from the Fed’s rate hike a week earlier eased. Markets had aggressively corrected with the Nasdaq deep in bear territory and the S&P edging closer to the designation. Which direction do we go from…
By Aditya Kalra DAVOS, Switzerland (Reuters) – India’s Tata Steel is concerned New Delhi’s sudden decision to impose an export tax on some steel products could force it to review its production targets, if the levy remains in place for a long time, its CEO told Reuters on Tuesday. India imposed an export tax of…
By Shadia Nasralla and Ron Bousso LONDON (Reuters) – Shareholders backed Shell’s climate strategy in a meeting on Tuesday that was disrupted by dozens of climate protesters, while a climate activist proposal from the Follow This group received fewer votes than last year. It followed a Dutch court ruling in May 2021, telling the company…
By Devik Jain and Anisha Sircar (Reuters) – Wall Street’s main indexes fell on Tuesday, with the tech-heavy Nasdaq leading the slump, as a weak earnings forecast from Snapchat-owner Snap Inc added to nerves about an inflation-struck economy. Snap Inc plummeted 39.7%, dragging down several social media and internet stocks, after the company slashed its…
BRUSSELS (AP) — The contamination of fruits and vegetables produced in the European Union by the most toxic pesticides has substantially increased over the past decade, according to new research published Tuesday. The study by the Pesticide Action Network Europe group said European citizens have been exposed to a “dramatic rise” in both the frequency…
