U.S. Economy
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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What retail inventory misses and markdowns signal about the market’s fight against inflation
Jay Laprete | Bloomberg | Getty Images Retailers are missing and missing big. It started last week with the Walmart and Target results which showed big inventory builds and the need for markdowns, and it’s been followed up by weak earnings and outlook from Abercrombie & Fitch which sent its shares tumbling in a similar […]
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CDC says monkeypox doesn’t spread easily by air: ‘This is not Covid’
The Centers for Disease Control and Prevention wants to calm public anxiety over how the monkeypox virus is transmitted, emphasizing that it doesn’t spread that easily through the air because it requires close contact with an infected person. Monkeypox is primarily spread through sustained physical contact such as skin-to-skin touch with someone who has an […]
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Sales of newly built homes tumbled over 16% in April while prices soared
Sales of newly built homes dropped 16.6% in April from March, far more than expected, and were down 26.9% from April 2021, according to the U.S. Census. The annualized rate came in at 591,000 units, seasonally adjusted. Analysts had been expecting 750,000. March’s read was also revised lower. That is the slowest sales pace since […]
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Here’s why major cities may still be worth their high cost of living
Many renters believe that a cost-of-living crisis is brewing in America’s major cities. New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according to Zumper. Sudden, double-digit rent […]
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The number of billionaires soared during the pandemic. How tax proposals aim to reduce wealth inequality
A mobile billboard calling for higher taxes on the ultra-wealthy depicts an image of billionaire businessman Jeff Bezos, near the U.S. Capitol on May 17, 2021 in Washington, DC. Drew Angerer | Getty Images A new billionaire was created on average about every 30 hours during the Covid-19 pandemic, according to a new report by […]
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CDC officials sound alarm for gay and bisexual men as monkeypox spreads in community
A section of skin tissue, harvested from a lesion on the skin of a monkey, that had been infected with monkeypox virus, is seen at 50X magnification on day four of rash development in 1968. CDC | Reuters The Centers for Disease Control and Prevention on Monday alerted gay and bisexual men that monkeypox appears […]
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Monkeypox outbreak is primarily spreading through sex, WHO officials say
An outbreak of the monkeypox virus in North America and Europe is primarily spreading through sex among men with about 200 confirmed and suspected cases across at least a dozen countries, World Health Organization officials said Monday. The outbreak has quickly advanced across Europe and North America over the last week and is expected to […]
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FDA panel sets June 15 meeting on Pfizer, Moderna Covid vaccines for infants and toddlers
Bridgette Melo, 5, prepares for her inoculation of one of two reduced 10 ug doses of the Pfizer BioNtech COVID-19 vaccine during a trial at Duke University in Durham, North Carolina September 28, 2021 in a still image from video. Shawn Rocco | Duke University | via Reuters The Food and Drug Administration’s expert committee […]
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Pfizer says third Covid vaccine shot for kids under 5 is 80% effective against omicron
A healthcare worker administers a Pfizer-BioNTech Covid-19 vaccine to a child at vaccination site in San Francisco, California, U.S., on Monday, Jan. 10, 2022. David Paul Morris | Bloomberg | Getty Images Pfizer and BioNTech’s three-dose Covid vaccine for children six months to 5-years-old was 80% effective at preventing illness during the omicron wave, according […]
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