Explainer-What happened with Abbott baby formula that worsened a U.S. shortage?

– Abbott Laboratories, the biggest U.S. supplier of powder infant formula including Similac, initiated a recall and closed its Sturgis, Michigan, manufacturing plant earlier this year after reports of serious bacterial infections in four infants. The recall and shutdown has worsened a baby formula shortage among multiple manufacturers that began with pandemic supply chain issues. Here are some details about what has happened: WHEN DID THE PLANT CLOSE? Production at an Abbott plant in Sturgis,…

"Explainer-What happened with Abbott baby formula that worsened a U.S. shortage?"

Trump’s Truth Social posts will have to wait before reposts on other platforms

– Donald Trump will have to wait for six hours before reposting his messages from social media platform Truth Social on other platforms, a regulatory filing revealed on Monday. The platform was launched with the mission of standing up to Big Tech, after the former U.S. president was kicked off of Twitter, Facebook and YouTube for allegedly inciting and glorifying violence during the Jan. 6 U.S. Capitol riots. Billionaire Elon Musk, who has bid to…

"Trump’s Truth Social posts will have to wait before reposts on other platforms"

McDonald’s to exit Russia after more than 30 years

– McDonald’s Corp said on Monday it has started a process to sell all its restaurants in Russia, exiting the country after more than 30 years following its invasion of Ukraine. The world’s largest fast food chain had in March decided to close its 847 restaurants in Russia, taking a hit of $50 million per month. It now expects to record a non-cash charge of about $1.2 billion to $1.4 billion following the sale. The…

"McDonald’s to exit Russia after more than 30 years"

Gold prices buckle under pressure from ‘King Dollar’, higher yields

– Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.7% at $1,798.80 per ounce as of 0920 GMT, after hitting its lowest…

"Gold prices buckle under pressure from ‘King Dollar’, higher yields"

UniCredit, Citi consider swapping assets with Russian institutions – FT

– UniCredit SpA and Citigroup are exploring asset swaps with Russian financial institutions as western banks trying to avoid heavy writedowns as they exit Russia, the Financial Times said on Sunday. UniCredit has received several offers from Russian financial institutions to buy its local subsidiary since its chief executive, Andrea Orcel, said in March it was considering pulling out of the country, the newspaper reported, citing unnamed people familiar with matter. Citigroup is the most…

"UniCredit, Citi consider swapping assets with Russian institutions – FT"

Britney Spears announces miscarriage of her ‘miracle baby’

– Singer Britney Spears on Saturday posted on her Instagram about the death of her ‘miracle baby,’ about a month after she announced her pregnancy with her husband Sam Asghari. Spears said she was going through a devastating time and perhaps she should have waited to announce her pregnancy. Spears, 40, announced her pregnancy and marriage with Asghari, 28, in an April 11 Instagram post. Spears is a mother of two teenage boys, Sean Preston…

"Britney Spears announces miscarriage of her ‘miracle baby’"

Soccer-Forest win at Sheffield United in semi-final first leg

– Nottingham Forest moved a step closer to the Championship playoff final by earning a 2-1 away win over Sheffield United on Saturday in the first leg of their semi-final. Jack Colback put Steve Cooper’s team in front in the 10th minute and Brennan Johnson extended the lead in the 71st. Sheffield United pulled one back in stoppage time through Sander Berge to give them hope for the second leg. Luton Town held Huddersfield Town…

"Soccer-Forest win at Sheffield United in semi-final first leg"