U.S. Economy
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 […]
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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 […]
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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 […]
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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 […]
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House Democrats to hold hearings on baby formula crisis, introduce bill to beef up FDA inspections
Rep. Rosa DeLauro, D-Conn., left, the House Appropriations Committee chair, and Speaker of the House Nancy Pelosi, D-Calif., confer during a news conference on the House Democrats $28 million emergency spending bill to address the shortage of infant formula in the United States, at the Capitol in Washington, Tuesday, May 17, 2022. J. Scott Applewhite […]
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WHO calls for probe into more than 200 Russian attacks on health facilities in Ukraine
CHERNIHIV, UKRAINE – MAY 09: A healthcare professional searches for medicines and medical equipment in a destroyed hospital as Russian attacks continue in Chernihiv, Ukraine on May 09, 2022. Patients are treated in additional buildings as health services are disrupted due to the destroyed hospitals. (Photo by Abdullah Unver/Anadolu Agency via Getty Images) Anadolu Agency […]
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FDA authorizes Pfizer Covid booster dose for kids ages 5 to 11 years old
A vaccinator draws a Pfizer-BioNTech coronavirus disease (COVID-19) pediatric vaccine in Lansdale, Pennsylvania, U.S., December 5, 2021. Hannah Beier | Reuters The Food and Drug Administration on Tuesday authorized a Pfizer booster dose for children ages 5 through 11 years old. Dr. Peter Marks, head of the FDA division responsible for vaccines, said vaccine effectiveness […]
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Homebuilder sentiment falls to 2-year low on declining demand and rising costs
Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Builder sentiment in the market for single-family homes fell sharply in May, as mortgage rates shot higher and building material costs showed no […]
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10-year Treasury yield climbs as investors await economic data, clues on monetary policy
The yield on the benchmark 10-year Treasury note climbed on Tuesday as investors awaited a fresh batch of economic data and watched for clues on the path of monetary policy. The yield on the 10-year Treasury note last traded up 4 basis points to 2.9240%, while the yield on the 30-year Treasury bond rose 4 basis points to […]
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Abbott reaches agreement with FDA to reopen baby formula plant to ease 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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