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May 24, 2022

Breaking News: Business

Wendy’s shares surge as Trian, its largest shareholder, explores potential deal

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CNBC – For more and to sign up click here A drive-thru window of a Wendy’s restaurant in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of Wendy’s surged roughly 15% in extended trading Tuesday after a filing revealed hedge fund Trian Partners, its largest shareholder, is exploring......

FTC launches investigation into infant formula makers over nationwide shortage

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CNBC – For more and to sign up click here 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......

Bill Ackman says a more aggressive Fed or market collapse are the only ways to stop this inflation

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CNBC – For more and to sign up click here Billionaire hedge fund manager Bill Ackman said raging inflation will only dissipate if the Federal Reserve acts more aggressively or the market sell-off turns into a full-on collapse. “There is no prospect for a material reduction in inflation unless the Fed aggressively......

Abercrombie shares fall over 25% after retailer posts loss, offers weak outlook

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CNBC – For more and to sign up click here A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in New York City, February 27, 2017. Andrew Kelly | Reuters Abercrombie & Fitch shares cratered 25% in premarket trading Tuesday after the retailer reported an......

Best Buy shares rise after electronics chain’s sales top expectations

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CNBC – For more and to sign up click here Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Best Buy reported an increase in second-quarter sales of nearly 20% as consumers purchased electronics to adjust to lifestyle changes related to the ongoing pandemic. Scott......

Walmart expands its drone-delivery service to reach 4 million households

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CNBC – For more and to sign up click here Walmart is expanding drone deliveries to select stores in six states. That will make it possible for more customers to get diapers, groceries or more delivered by air. Walmart Walmart is expanding drone delivery across six states this year, making......

SpaceX president defends Elon Musk over sexual misconduct claims: ‘I believe the allegations to be false’

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CNBC – For more and to sign up click here SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station.......

CDC officials sound alarm for gay and bisexual men as monkeypox spreads in community

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CNBC – For more and to sign up click here 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......

FDA panel sets June 15 meeting on Pfizer, Moderna Covid vaccines for infants and toddlers

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CNBC – For more and to sign up click here 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.......

Monkeypox outbreak is primarily spreading through sex, WHO officials say

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CNBC – For more and to sign up click here 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......

Starbucks will exit Russia after 15 years, closing 130 licensed cafes

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CNBC – For more and to sign up click here A woman drinks coffee in a Starbucks in a mall in Khimki outside Moscow. Alexander Natruskin | Russia After 15 years operating in Russia, Starbucks will exit the market, joining companies like McDonald’s, Exxon Mobil and British American Tobacco in......

Pfizer says third Covid vaccine shot for kids under 5 is 80% effective against omicron

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CNBC – For more and to sign up click here 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......

Hyundai plans $5 billion investment in U.S. on mobility technology such as autonomous driving and robotics

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CNBC – For more and to sign up click here Drew Angerer | Getty Images News | Getty Images Hyundai Motor said on Sunday it plans to invest $5 billion in the U.S. by 2025 to further develop mobility technologies in areas like autonomous driving, robotics, and A.I. The investment......

SpaceX looks to raise $1.7 billion in new funding, boosting its valuation to $127 billion

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CNBC – For more and to sign up click here A Falcon 9 rocket launches a batch of Starlink satellites to orbit on April 29, 2022. SpaceX SpaceX is raising a massive round of fresh funding, CNBC has learned, sending the private company’s valuation to about $127 billion. The space......

More people are dying on U.S. roads, even as cars get safer. Here’s why it’s a tough problem to solve

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CNBC – For more and to sign up click here Cars and trucks are wedged together after a deadly multi-vehicle pileup on the ice covered I-35 in a still image from video in Fort Worth, Texas, February 11, 2021. NBC5 | via Reuters New vehicles on sale in the U.S.......

The space industry is on its way to reach $1 trillion in revenue by 2040, Citi says

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CNBC – For more and to sign up click here A Falcon 9 rocket carries 49 Starlink satellites toward orbit on Feb. 3, 2022. SpaceX The space industry should reach $1 trillion in annual revenue by 2040, with launch costs dropping 95%, Citigroup analysts said in an extensive report published......

CDC urges older Americans to get Covid booster shots as hospitalizations soar again

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CNBC – For more and to sign up click here Shana Alesi administers a second COVID-19 booster shot to Army veteran Robert Hall at Edward Hines Jr. VA Hospital on April 01, 2022 in Hines, Illinois. Scott Olson | Getty Images The Centers for Disease Control and Prevention this week......

Hyundai to invest $5.5 billion to build EVs and batteries in Georgia

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CNBC – For more and to sign up click here The logo of Hyundai is shown at the #WeAreMobility fair at the 97th edition of the Brussels Motor Show on 18 January 2019, in Brussels. Dirk Waem | AFP via Getty Images Hyundai Motor on Friday confirmed plans to spend......

World Health Organization confirms 80 cases of monkeypox with outbreaks in 11 countries

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CNBC – For more and to sign up click here This 2003 electron microscope image made available by the Centers for Disease Control and Prevention shows mature, oval-shaped monkeypox virions, left, and spherical immature virions, right, obtained from a sample of human skin associated with the 2003 prairie dog outbreak.......

Dr. Scott Gottlieb says rising monkeypox cases suggest it’s spread ‘pretty wide’

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CNBC – For more and to sign up click here The rising number of monkeypox cases in the U.S. and Europe suggest the virus has already spread widely across communities, but it won’t likely cause a major epidemic like Covid, Pfizer board member and former FDA Commissioner Dr. Scott Gottlieb......

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