FOX Business’ Lydia Hu explains why the formula problem is getting worse. Abbott Nutrition has finally provided a timeline for when new stock from its shuttered Sturgis, Michigan, baby formula manufacturing facility could hit store shelves in the US: At least two months. “We understand the situation is urgent – getting Sturgis up and running […]
A nearly $1 billion settlement in last year’s shocking collapse of a Miami Beach-area condo building was unexpectedly announced during a routine status conference in a Florida courtroom Wednesday afternoon. Lawyers involved in the class-action lawsuit representing tenants from the oceanfront building in Surfside announced a $997 million settlement had been reached. Upon the news, […]
Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as the launch of its new plant-based jerky weighed heavily on margins. Shares of the company fell as much as 25% in extended trading, extending the stock’s losses from earlier in the day. Beyond’s stock closed Wednesday down 13.8% ahead of the company’s […]
LiveWire, the electric motorcycle company spinoff from Harley-Davidson, announced its most affordable model yet, the S2 Del Mar. The initial batch of Del Mar motorcycles, dubbed Launch Edition, will sell for $17,699, while base model versions will start at $15,000. The S2 Del Mar is a middleweight motorcycle, making it more approachable than last year’s […]
MIAMI — Families of the victims of the collapse of the Champlain Towers South condominium in Surfside, Fla., that killed 98 people last year have reached a $997 million settlement to compensate them for their staggering losses of life and property. The settlement, revealed at a court hearing on Wednesday and still pending final approval, […]
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it’s still on track to build 25,000 vehicles this year, as it reported a jump in reservations and a first-quarter […]
SAN FRANCISCO — Bitcoin was conceived more than a decade ago as “digital gold,” a long-term store of value that would resist broader economic trends and provide a hedge against inflation. But Bitcoin’s crashing price over the last month shows that vision is a long way from reality. Instead, traders are increasingly treating the cryptocurrency […]
Kohl’s (KSS) has beaten them back — for now. Kohl’s said Wednesday that he re-elected all 13 of his board of director nominees at his annual shareholders’ meeting, based on a preliminary vote tally. Macellum Advisors, an activist investment firm, had put up its own slate of nominees to replace 10 of Kohl’s board members, […]
May 11 (Reuters) – Twitter Inc (TWTR.N) shares have plunged to their lowest level since the social media company agreed to sell itself to Elon Musk for $44 billion on April 25, raising questions about whether the world’s richest person will try to renegotiate the deal. On Tuesday, the implied probability of the deal closing […]
SlatesStone Wealth chief market strategist Kenny Polcari and Mayflower Advisors managing partner Larry Glazer weigh in on inflation and which sectors to invest in. Social Security recipients are poised to receive the biggest cost-of-living raise in over four decades as inflation rapidly erodes the buying power of retired Americans. The Senior Citizens League, a nonpartisan […]