Biden dismisses the idea that his administration should have acted sooner on baby formula shortage

Biden dismisses the idea that his administration should have acted sooner on baby formula shortage

Following remarks in the White House Rose Garden, Biden pushed back when asked if the administration should have reacted faster to shortages of baby formula nationwide, telling CNN’s Jeremy Diamond, “If we’d been better mind readers, I guess we could have.” The President later said resolving the issue requires that the federal government “move with … Read more

Novavax confident Covid vaccine will receive FDA authorization in June after delays

Novavax confident Covid vaccine will receive FDA authorization in June after delays

Novavax is confident its Covid-19 vaccine will receive the endorsement of the Food and Drug Administration’s advisory committee early this summer, executives said this week. The FDA committee is scheduled to meet on June 7 to review Novavax’s submission. An endorsement from the committee, which is made up of independent experts, would mean the drug … Read more

Regulators anxious about stablecoins like tether after UST collapse

Regulators anxious about stablecoins like tether after UST collapse

The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the US dollar, has erased much of its value this week … Read more

Elon Musk says his deal to buy Twitter is on hold

Elon Musk says his deal to buy Twitter is on hold

London CNN Business — Elon Musk said he is putting his bid to acquire Twitter (TWTR) on hold, weeks after agreeing to take the company private in a $44 billion deal. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted on Friday. … Read more

5 things to know before the stock market opens Friday, May 13

5 things to know before the stock market opens Friday, May 13

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures pop after the 30-stock average’s six-session losing streak The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, … Read more

US to boost baby formula imports to ease shortage after Abbott Nutrition recall

US to boost baby formula imports to ease shortage after Abbott Nutrition recall

Baby formula is offered for sale at a big box store on January 13, 2022 in Chicago, Illinois. Scott Olson | Getty Images The US will increase baby formula imports as part of an effort to ease a nationwide shortage, senior Biden administration officials said on Thursday. The scarcity of formula was triggered in part … Read more

Baby formula shortage: Biden to speak with infant formula companies

Baby formula shortage: Biden to speak with infant formula companies

“This afternoon, President Biden will speak with retailers and infant formula manufacturers to receive an update on efforts to make infant formula supply more available to American families,” the official said in a statement Thursday morning. “Later this afternoon, the White House will announce additional actions the Administration is taking to address this issue.” American … Read more

Cryptocurrency TerraUSD Plunges as Investors Bail

Cryptocurrency TerraUSD Plunges as Investors Bail

A selloff in a cryptocurrency that was supposed to be pegged to $1 accelerated Wednesday, briefly sending its price to less than a quarter of that value. TerraUSD traded as low as 23 cents Wednesday, according to data from CoinDesk. As of 8:53 am ET, it had partially rebounded to about 30 cents in volatile … Read more

New York City could bring back mask mandate, vaccine checks

New York City could bring back mask mandate, vaccine checks

Children are seen walking to school, on the first day of lifting the indoor mask mandate for DOE schools between K through 12, in Brooklyn, New York City, New York, US March 7, 2022. Brendan McDermid | Reuters New York City could bring back mask mandates and proof of vaccination status to go to restaurants, … Read more

Most Americans have now had Covid-19 — but experts are predicting the next surge

Mount Sinai launches post-Covid care center for long-haulers

For many of those who are vaccinated or were previously infected, learning of a close contact with the disease is less frightening than frustrating. Testing is more and more normal. Masks are less and less visible. Kids in the US who are between 6 months and 5 years old could be eligible for vaccines by … Read more