Month: May 2022

FTC launches investigation into infant formula makers over nationwide shortage
Health

FTC launches investigation into infant formula makers over nationwide shortage

A woman shops for baby formula at Target in Annapolis, Maryland, on May 16, 2022, as a nationwide shortage of baby formula continues due to supply chain crunches tied to the coronavirus pandemic that have already strained the countrys formula stock, an issue that was further exacerbated by a major product recall in February. Jim […]

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Wendy’s shares surge as Trian, its largest shareholder, explores potential deal
Business

Wendy’s shares surge as Trian, its largest shareholder, explores potential deal

A drive-thru window of a Wendy’s restaurant in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of Wendy’s surged roughly 15% in extended trading Tuesday after a filing revealed hedge fund Trian Partners, its largest shareholder, is exploring a potential deal with the company. Trian, along with its partners, owns a 19.4% stake […]

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Stocks making the biggest moves after hours: Nordstrom, Urban Outfitters and Intuit
Finance

Stocks making the biggest moves after hours: Nordstrom, Urban Outfitters and Intuit

A Nordstrom store in Irvine, California. Scott Mlyn | CNBC Check out the companies making headlines after hours. Nordstrom — Shares jumped 7% after the retailer surpassed earnings expectations and raised its full-year outlook. Nordstrom CEO Erik Nordstrom said the company has experienced a surge in demand from shoppers refreshing their closets for “long-awaited occasions.” […]

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Bond market counting on the Fed to do less when it comes to interest rate hikes
World

Bond market counting on the Fed to do less when it comes to interest rate hikes

Stock investors have been scared by rising bond yields, and now bond investors are spooked by the bearishness of the stock market’s sell-off. The markets are worried about a softening economy and are now pricing in expectations that the Federal Reserve may not be able to raise interest rates as much as previously expected. “I […]

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Democrats urge Google to stop collecting location data that could be used to identify people seeking abortions
Technology

Democrats urge Google to stop collecting location data that could be used to identify people seeking abortions

Sen. Ron Wyden, D-OR Sarah Silbiger | Getty Images News | Getty Images A group of 42 Democratic lawmakers urged Google CEO Sundar Pichai in a letter Tuesday to stop collecting and keeping unnecessary or non-aggregated location data that could be used to identify people seeking abortions. The letter comes ahead of the anticipated reversal […]

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Nordstrom raises full-year outlook as first-quarter sales top expectations
Business

Nordstrom raises full-year outlook as first-quarter sales top expectations

Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business as shoppers visited the company’s department stores to refresh their closets with designer brands and shoes. Nordstrom now sees fiscal 2022 revenue, including credit card sales, up 6% to 8%, compared with a prior […]

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Crypto billionaire says he could spend a record-breaking  billion in 2024 election
Business

Crypto billionaire says he could spend a record-breaking $1 billion in 2024 election

WASHINGTON —Democratic billionaire Sam Bankman-Fried says he could spend $1 billion or more in the 2024 election, which would easily make him the biggest-ever political donor in a single election. Bankman-Fried, the 30-year-old founder of the cryptocurrency exchange FTX, said in a podcast interview released Tuesday that he expects to give “north of $100 million” in the next presidential […]

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Safety consultant goes viral for leaving Shell after a decade, says ‘core business’ is dangerous
World

Safety consultant goes viral for leaving Shell after a decade, says ‘core business’ is dangerous

Shell officially changed its name on Friday, ditching “Royal Dutch”, which has been part of its identity since 1907. Rick Wilking | Reuters At 8:27 a.m. on Monday morning, May 23, Caroline Dennett emailed 1,400 executives at the oil and gas conglomerate, Shell, to announce her resignation after 11 years working as a safety consultant. […]

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2 dead after shooting at Texas elementary school, hospital says
Politics

2 dead after shooting at Texas elementary school, hospital says

Law enforcement personnel run from the scene of a suspected shooting near Robb Elementary School in Uvalde, Texas, May 24, 2022. Marco Bello | Reuters Two people were dead and more than a dozen children hospitalized as multiple medical centers cared for people injured in a shooting at a Texas elementary school, hospital officials said […]

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Australia’s election was all about climate change. Here’s what it means for businesses
World

Australia’s election was all about climate change. Here’s what it means for businesses

Australian Prime Minister Anthony Albanese speaks during a press conference at Parliament House on May 23, 2022 in Australia. David Gray | Getty Images News | Getty Images Australian businesses and their investors globally will be keeping a close watch on the newly elected government’s climate change policies. Analysts say the Labor government under Prime […]

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