Business
U.S. faces unnecessary Covid deaths if Congress fails to pass funding bill, top health official warns
Top U.S. health officials on Wednesday reiterated their calls for Congress to pass funding for the nation’s fight against Covid-19, warning that failure to act now would result in an unnecessary loss of life in the fall and winter. Their warning comes as new infections and hospitalizations are on the rise as the more transmissible […]
Read More
Senate panel investigates Abbott tax practices after contamination shut down baby formula plant
The Senate Finance Committee on Wednesday opened an investigation into Abbott Labs, the company at the center of a baby formula shortage in the U.S. Committee Chairman Sen. Ron Wyden, D-Ore., sent a letter to CEO Robert Ford requesting information on Abbott’s international tax practices and $8 billion in stock buybacks the company has authorized […]
Read More
Hasbro slams activist investor’s proposed board directors as proxy battle heats up
Game maker Hasbro. Justin Sullivan | Getty Images Hasbro is going on the offensive against an activist investor wants to add new members to the company’s board and spin off the lucrative unit that includes Dungeons & Dragons. On Wednesday, the toymaker issued a letter to shareholders detailing why its current slate of board nominees […]
Read More
Here’s what Walmart, Target, Home Depot and Lowe’s tell us about the state of the American consumer
How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how people are spending their money. Walmart said some of its […]
Read More
‘Pharma bro’ Martin Shkreli released from federal prison and into New York halfway house
Former pharmaceutical executive Martin Shkreli departs the U.S. District Court for the Eastern District of New York, August 3, 2017 in the Brooklyn borough of New York City. Getty Images Notorious “Pharma bro” fraudster Martin Shkreli was released from a federal prison in Pennsylvania on Wednesday and into a U.S. Bureau of Prisons halfway house […]
Read More
Stocks making the biggest moves midday: Target, Lowe’s, TJX and more
Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania. Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Target – Shares plunged 25.6% after the retailer reported disappointing quarterly results, citing high fuel costs and inventory troubles. Target posted an […]
Read More
Watch live: U.S. health officials hold Covid briefing as cases and hospitalizations soar again
[The stream is slated to start at 10:45 a.m. ET. Please refresh the page if you do not see a player above at that time.] Senior U.S. health officials are holding a Covid-19 press conference for the first time in over a month, as infections and hospitalizations are on the rise as more transmissible omicron […]
Read More
EV battery costs could spike 22% by 2026 as raw material shortages drag on
Attendees look at the all-electric Ford F-150 Lightning pickup truck at the Washington Auto Show in Washington on Tuesday, January 25, 2022. Bill Clark | CQ-Roll Call, Inc. | Getty Images The cost to produce electric vehicles is primed to surge over the next four years, according to a new report, the result of scarcity […]
Read More
Target shares sink 25% after company says high costs, inventory woes hit profits
Target on Wednesday reported quarterly earnings that fell far short of Wall Street’s expectations, as the retailer coped with pricey freight costs, higher markdowns and lower-than-expected sales of discretionary items from TVs to bicycles. Shares fell about 25% in early trading. Here’s what Target reported for the fiscal first quarter ended April 30, compared with […]
Read More
Equal pay for all: U.S. Soccer reaches historic bargaining agreement with women’s and men’s teams
Crystal Dunn, Rose Lavelle, Christen Press, Megan Rapinoe and Alex Morgan of Team United States celebrate following their team’s victory in the penalty shoot out after the Women’s Quarter Final match between Netherlands and United States on day seven of the Tokyo 2020 Olympic Games at International Stadium Yokohama on July 30, 2021 in Yokohama, […]
Read More