Elon Musk does not fear a recession

Elon Musk is in the news. He is everywhere. The CEO of premium electric vehicle maker Tesla (TSLA) – Get the Tesla Inc report somewhat reminiscent of former Republican President Donald Trump when the latter was in power. Like Trump, Twitter is Musk’s main communication channel. Like the property developer, the tech mogul seems to … Read more

FDA announces it will make it easier to import certain infant formulas to ease shortage

The United States typically produces 98% of the infant formula it uses, with imported formula coming mainly from Mexico, Ireland and the Netherlands, the agency said in a statement. But because of the shortage, the FDA describes a process by which it “would not object to the importation of certain infant formula intended for a … Read more

Biden rejects the idea that his administration should have acted sooner on the shortage of formula milk

Following remarks at the White House Rose Garden, Biden pushed back when asked if the administration should have responded more quickly to formula shortages across the country, telling CNN’s Jeremy Diamond, “If we had been better mind readers, I suppose we could have.” The president later said solving the problem required the federal government to … Read more

TerraUSD Cryptocurrency Plunges as Investors Bail Out

A sell-off in a cryptocurrency believed to be pegged to $1 accelerated on Wednesday, briefly sending its price below a quarter of that value. TerraUSD traded as low as 23 cents on Wednesday, according to data from CoinDesk. As of 2:43 p.m. ET, it had partially rebounded to around 68 cents in volatile trading. A … Read more

What Bitcoin could be worth to Fidelity. You will be surprised.

Text size Fidelity’s push to Bitcoin is controversial but could be lucrative for the company. Dreamstime.com Fidelity Investments shocked the retirement industry last month by deciding to make Bitcoin available in 401(k) plans. Add up the earnings that could pay off, and it starts to be less of a surprise. Fidelity is the nation’s largest … Read more