WASHINGTON – The U.S. Food and Drug Administration will make an announcement regarding imported infant formula as soon as later on Monday, the agency’s chief told NBC News in an interview as regulators and lawmakers seek to address ongoing supply shortages. FDA Commissioner Robert Califf added he does not expect the shortage of the critical baby product to last until the end of year, adding it was “quite likely” there could be movement to reopen…"FDA to address baby formula imports as soon as Monday -chief"
LONDON – A package of sanctions imposed on Russia, its top companies and its business and political elite over Moscow’s invasion of Ukraine look set to trigger a deep recession in Russia. Here is a summary of the economic consequences and Russia’s retaliatory measures: ECONOMY Almost 1,000 Western companies have either left or scaled back their operations since the start of the conflict, according to the Yale School of Management. The government forecasts that the…"Factbox-Russia’s response to Western sanctions"
WEISSENHAUS, Germany – Foreign ministers from the G7 group of rich nations will discuss how to alleviate food security concerns when they meet in Germany on Friday as fears mount that the war between Russia and Ukraine could further destabilise Moldova. The annual meeting running until Saturday brings together top diplomats from Britain, Canada, Germany, Italy, France, Japan the United States and the European Union, to the Baltic Sea resort of Weissenhaus. Talks are set…"Food security, Moldova in focus at G7 foreign minister meeting"
TORONTO – For banks in Canada, one of the world’s largest oil producers, it’s not easy being green. In the past two years, Canadian banks have increased the amount of sustainability-linked financing (SLF) they extend to oil and gas clients. SLF refers to financing whose cost changes when certain environmental, social and governance (ESG) requirements are met at the company level but does not require the funds themselves to be used for climate-friendly purposes. This…"Canada banks face ‘greenwashing’ claims as oil & gas firms obtain sustainable financing"
– The Russian-backed self-proclaimed Donetsk People’s Republic (DPR) in eastern Ukraine said on Wednesday it had blocked access to Facebook and Instagram, aligning itself with Russia’s policy on the U.S.-based social networks. Moscow recognised the DPR and a second region of eastern Ukraine – the Luhansk People’s Republic – as independent on Feb. 21, and sent troops into Ukraine three days later, citing as one of its reasons the need to protect Russian-speakers there. “Access…"Russian-backed separatist region of east Ukraine blocks Facebook, Instagram"
– Canadian wireless giant Rogers Communications Inc has asked telecom company Quebecor Inc to join a bid for Shaw Communications Inc’s Freedom Mobile, the Globe and Mail reported on Friday, citing an unnamed source. Rogers said last year it would buy Shaw for about C$20 billion ($15 billion) in a deal that would create Canada’s second-largest cellular and cable operator. Canada’s telecommunications regulator in March conditionally approved Rogers’s acquisition of Shaw’s broadcast services. Two other…"Rogers asks Quebecor to join bid for Shaw’s Freedom Mobile – media"
– Elon Musk’s decision to accept some foreign investors as part of his $44 billion buyout of Twitter Inc runs the risk of inviting the kind of regulatory scrutiny over U.S. national security that social media peer TikTok faced, legal experts say. Musk disclosed on Thursday that Saudi Arabia’s Prince Alwaleed bin Talal, Qatar’s sovereign wealth fund and Binance, the world’s biggest cryptocurrency exchange founded by Chinese native Changpeng Zhao, were part of a group…"Analysis-Musk’s new Twitter funding could draw TikTok-like U.S. scrutiny"
WASHINGTON – The U.S. Department of Energy intends to commit $2.25 billion for projects to store carbon dioxide underground and help fight climate change, it said on Thursday. The funding for carbon storage validation and testing over the next five years will come from the bipartisan infrastructure bill signed by President Joe Biden last year. “The goal here is that at the end of the day, you do actually have commercially available facilities for storage,”…"U.S. Energy Department to commit $2.25 billion to carbon storage program"
HONG KONG – The president of Chinese ride-hailing giant Didi Chuxing and her father, the founder of Lenovo, have ended their public presence on China’s main social media site, the latest Chinese tech leaders to retreat from the spotlight. Didi’s Jean Liu and her father, Liu Chuanzhi, both switched on a function on China’s Weibo platform to hide all old posts, at some time during the just-ended Labour Day holiday. Neither had posted in the…"Didi, Lenovo founders go private on China social media, join retreat from spotlight"
PARIS – French lender Societe Generale said on Thursday it would have additional costs as a result of the war in Ukraine because more customers would be unable to repay their loans, underscoring the ever wider economic damage in Europe. France’s third-biggest listed bank, which announced a rise in net income, as its domestic retail arm prospered and trading improved, said it was setting aside higher provisions for soured loans because of the conflict. SocGen…"SocGen points to cost of Ukraine war with higher bad loan provisions"