President Joe Biden’s administration on Tuesday announced it would develop a policy requiring cigarette makers to reduce nicotine to non-addictive levels — a move that would substantially cut nicotine levels in cigarettes and deal a powerful blow to the tobacco industry. If successful, the new US. standard could save millions …
Read More »Stocks bounce back after steep selloff last week
Stocks rose broadly on Wall Street Tuesday, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic. The S&P 500 rose 90 points, or 2.4%, to close at 3,765. The Dow Jones Industrial Average gained 2.1%, and the Nasdaq jumped 2.5%. …
Read More »Dow plunges 900 points, S&P enters bear market as inflation fears mount
Stocks in the U.S. plunged Monday as investors digested a report last week showing that inflation in May surged at its fastest pace in four decades. The S&P 500 tumbled 151 points, or nearly 4%, to close at 3,750. The more than 21% drop since its most recent peak in January, …
Read More »Cheeses sold in 9 states recalled due to listeria concerns
An array of cheeses sold in supermarket delis in nine states are being recalled because the cheddar, brie, pecorino and other products are potentially contaminated with listeria, a harmful bacteria, according to a notice posted by the U.S. Food and Drug Administration. The possibly tainted cheeses were produced during the …
Read More »Gas prices top $4 in every U.S. state for the first time
Motorists are facing a new — and unwelcome — milestone: The price of gasoline is now at least $4 per gallon in every U.S. state, a first for the nation, according to AAA. The average per-gallon price reached a new record of $4.52 on Tuesday, the automobile group said. Drivers …
Read More »Exxon Mobil doubled its profit from last year to $5.5 billion
As gas prices continue to soar across the nation, oil producer Exxon Mobil reported $5.4 billion in profit during the first quarter — doubling its profits compared to the same quarter last year. Exxon also took a noteworthy loss as company officials abandoned Russian operations due to the war, writing …
Read More »Retirements fueling U.S. worker shortage: “We’re fighting an uphill battle”
The U.S. labor market has a people problem: There simply aren’t enough workers available to take the jobs employers want to fill. That’s partly due to a trend hastened by the pandemic that is continuing apace even as the economy returns to normal: Americans are retiring in droves. Retiring workers …
Read More »U.S. companies just had their best year since before most of us were born
Roughly one in five Americans lists soaring prices as the nation’s biggest economic problem. By contrast, major U.S. corporations seem to be riding out the fiercest inflation in 40 years just fine. While CEOs spent much of 2021 pointing to the impact of rising wages, pricier raw materials and other ballooning expenses …
Read More »Child poisoning deaths spiked in pandemic from narcotics, bleach and batteries
The pandemic saw a spike in young children accidentally poisoned by products found at home — including bleach, coin-sized batteries and narcotics, federal officials said in a report out this week. On average, 31 kids under the age of 5 die of poisoning each year, a figure that has fallen …
Read More »As Ukraine war rages, oil prices surge to highest level since 2014
Global oil prices soared and U.S. stocks sank Tuesday as Russia stepped up its war on Ukraine. Stocks fell as investors tried to measure how the conflict would impact the global economy. The S&P 500 dropped roughly 68 points, or 1.6%, to close at 4,306. The Dow Jones Industrial Average …
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