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A factory responsible for 20% of US baby formula production is shuttered after being hit by flooding.
Flooding Shutters Factory Responsible for 20% of US Baby Formula Production
One of the largest factories in the United States for producing baby formula has been shuttered after suffering severe flooding during a recent freak storm. Abbott Laboratories made the announcement on June 15 that it...
Demand destruction is being tasted by retailers that sell junk such as Target and Walmart, data shows.
Consumer Demand for ‘Crap’ Is Dying, Bloating Retailer Inventories: Analysts
Consumers are buying less and less “crap,” leaving leading U.S. retailers such as Walmart and Target — whose business model capitalizes on discretionary spending — with a big problem, found a leading transportation industry analysis...
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Bank of Canada Warns That a Typical Mortgage Payment Could Surge by 30% in 5 Years
On June 9, the Bank of Canada (BoC) said that high home prices and the debt that comes with them are threatening Canada’s economy and is warning that buyers who purchased homes during the pandemic...
Biometric facial recognition payments are replacing cash and card at grocery stores, thanks to a Mastercard initiative piloting first in Brazil.
Biometric Payments Are Replacing Cash and Card at Grocery Stores
The move to eliminate cash and card payments in favor of biometric facial recognition is now formally underway, based on a new program rolled out by Mastercard.  On May 17, Mastercard announced its Biometric Checkout...
China Fights Uphill Battle to Rescue Its Economy While Keeping ‘Zero-COVID’
Since late May, state and Chinese Communist Party propaganda outlets have been noticeably promoting Beijing’s economic policies and the central government urging local officials to do economic work well alongside “dynamic zero-COVID.” The central government’s...
Novavax's more-traditional protein subunit COVID vaccine is also causing myocarditis, FDA documents reveal.
The Novavax Protein Subunit COVID Vaccine Is Causing Heart Inflammation, Too
A new and more traditional type of Coronavirus Disease 2019 (COVID-19) vaccine that will soon be either approved or rejected by the Food and Drug Administration for an Emergency Use Authorization (EUA) is also causing...
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Tesla’s Shanghai Factory Back to 70 Percent of Pre-Lockdown Levels: Report
Electric auto maker Tesla's Shanghai plant, Gigafactory 3, has brought productivity back to 70 percent of the 2,600 cars it was building per day before China's "zero-COVID" policies halted their operations on April 1. It's...
California Governor Gavin Newsom's all-electric cars by 2035 mandate will put more than half of the state's mechanics out of a job.
Newsom’s Electric Car Mandate Will Put 32,000 Mechanics Out of a Job
California Governor Gavin Newsom’s ambitious plan to transition from combustion engine cars to electric ones by 2035 will put 64,700 people out of work, most notably 32,000 mechanics, state officials figured out. “This is a...
Casinos, sportsbooks, and other gambling venues took $5.31 billion out of the US economy in Q1 2022, the most on record.
Americans Lost More Money Gambling In Q1 2022 Than Ever Before
The U.S. gaming industry posted its most profitable Q1 in history this year, states an industry advocacy website. However, this figure naturally implies that gamblers had their worst Q1 in history, a notable figure considering...