(Reuters) -Abbott Laboratories said on Wednesday it has stopped production of its EleCare specialty formula after severe storms in southwestern Michigan flooded areas of its plant in Sturgis, Michigan. The company, which has notified the U.S. Food and Drug Administration, said the incident will likely delay production and distribution of the infant formula for a…
By Shariq Khan BENGALURU (Reuters) -Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies. Brent crude futures fell 22 cents, or 0.2%, to settle at $92.16…
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar advanced modestly on Monday as a boost in risk appetite sent U.S. equities higher and kept gains on the safe haven in check ahead of a key reading on inflation later in the week. After touching a near twenty-year high of 105.01 on May 13, the…
By Richa Naidu LONDON (Reuters) -This Valentine’s Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants. COVID-era supply chain logjams and Russia’s invasion of Ukraine have meant that Britons paid a record 16.7% more for food…
By Devik Jain (Reuters) -The Dow and the S&P 500 were set to open higher on Tuesday, as bank shares gained on growing bets of aggressive interest rate increases by the Federal Reserve and sportswear maker Nike rose after upbeat quarterly results. Traders expects a 67.6% chance of a 50-basis point (bps) rate hike in…
By Daniel Wiessner (Reuters) – The U.S. Supreme Court ruling striking down race-conscious policies in college admissions includes some warnings to companies about the legal limits of workforce diversity efforts and is likely to fuel challenges to them, experts said. Thursday’s ruling has no direct impact on employers because it does not involve workplace bias…
WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan’s presidency, bouncing back with resilience from 2020’s brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and services — expanded 5.7% in 2021. It was the strongest calendar-year growth since a 7.2%…
SYDNEY (Reuters) – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control. In its quarterly statement on monetary policy, the Reserve Bank of Australia (RBA) warned core inflation could now hit 4.6% by December,…
By David Shepardson WASHINGTON (Reuters) – U.S. President Joe Biden on Saturday, in a possible preview of a 2024 presidential campaign theme, attacked news outlets he said used “lies told for profit and power” to stir up hatred in the United States, as he coupled his remarks with pointed jokes about Fox News. Speaking at…
By Dawn Chmielewski (Reuters) -Walt Disney responded on Monday to billionaire Nelson Peltz and his Trian Fund’s campaign to win two board seats with an attack on the activist shareholder’s motivations and qualifications in an increasingly bare-knuckled proxy battle. In a 66-page regulatory filing late Monday, Disney said Peltz and Trian’s other designated board candidate,…
