Business

5 things to know before the stock market opens Wednesday, May 18

5 things to know before the stock market opens Wednesday, May 18

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures fall as inflation claims another retailer Traders on the floor of the NYSE, May 17, 2022. Source: NYSE US stock futures dropped Wednesday as rising inflation slammed another retailer. Target sank 24% in the premarket, …

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'Huge' pressure for Shanghai to stay COVID-free as lockdown end nears

‘Huge’ pressure for Shanghai to stay COVID-free as lockdown end nears

Shanghai health authorities warn of risks of COVID rebound Some migrant workers looking to leave Shanghai Goldman cuts China GDP forecast, warns of further slip E-commerce giant JD.com says consumers losing confidence SHANGHAI/BEIJING, May 18 (Reuters) – Health authorities in Shanghai faced “huge” pressure to keep China’s most populous city free of COVID-19 as residents …

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White House chief of staff Ron Klain says the White House is "absolutely" and "strongly" considering having President Joe Biden invoke the Defense Production Act to address the urgent baby formula shortage problem plaguing the country.

Experts spell out do’s and don’ts for parents amid baby formula shortage

White House chief of staff Ron Klain says the White House is “absolutely” and “strongly” considering having President Joe Biden invoke the Defense Production Act to address the urgent baby formula shortage problem plaguing the country. (Paul Hennessy, Associated Press) Estimated read time: 6-7 minutes SALT LAKE CITY — Utah health experts addressed growing concerns …

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Japan's Economy Shrank 1 Percent as Consumers Fled Covid

Japan’s Economy Shrank 1 Percent as Consumers Fled Covid

TOKYO — Last December, after two years of stop-and-go growth, Japan’s economic engine seemed like it might finally be revving up. Covid cases were practically nonexistent. Consumers were back on the town, shopping, eating out, traveling. The year 2021 ended on a high note, with the country’s economy expanding on an annual basis for the …

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Twitter says it's committed to enforcing Elon Musk's $44 billion buyout deal even as he appears to hesitate

Twitter says it’s committed to enforcing Elon Musk’s $44 billion buyout deal even as he appears to hesitate

Elon Musk.Andrew Kelly/Reuters Twitter said on Tuesday it plans to complete its $44 billion merger agreement with Elon Musk. This is despite Musk’s apparent hesitation in recent days to go ahead with negotiations. Both parties had agreed to rules that ensure the deal closes, including a clause that forces completion. Twitter said it plans to …

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Russia needs cars, so it's rebooting this Soviet-era brand

Moskvich: Russia needs cars, so it’s rebooting this Soviet-era brand

CNN — After Renault its departure announced this week from the Russian auto market amid the country’s war with Ukraine, Moscow’s mayor announced its factory will be used to restart the defunct Soviet-era Moskvich car brand. Little known outside the former Soviet Union and its satellite countries, Moskvich was founded around 1930 and operated until …

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