WASHINGTON (Reuters) – The Federal Trade Commission said on Tuesday it had launched an inquiry into the ongoing shortage for infant formula in the United States and would examine the pattern of mergers and acquisitions in the formula market. The inquiry comes after a Feb. 17 recall by top baby formula maker Abbott Laboratories and…
(Reuters) – Russian lawmakers on Tuesday gave the first stamp of approval to a bill that would allow Russian entities to take over foreign companies that have left the market in opposition to Moscow’s actions in Ukraine, the government’s online portal showed. Scores of foreign companies have announced temporary shutdowns of stores and factories in…
WASHINGTON (Reuters) – An official at the U.S. Securities and Exchange Commission said on Tuesday that “significant issues remain” in reaching a deal with China over a long-running dispute around auditing compliance of Wall Street-listed firms based in Beijing. The SEC’s international affairs chief, YJ Fischer, told an audience that the agency’s accounting body, the…
By Aditya Kalra DAVOS, Switzerland (Reuters) – India’s Andhra Pradesh has signed renewables investment pacts worth a total of around $16 billion with three companies including India’s Adani and an affiliate of Singapore’s GIC sovereign wealth fund, two state government officials said. The investment commitments were struck with Adani Green Energy, GIC-backed Greenko and India’s…
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…
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…
