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Baby formula shortage could ease as Abbott reopens Michigan plant

The company said it will begin production of EleCare and other specialty and metabolic formulas, with initial EleCare product release to consumers beginning on or about June 20

No point in talks until Russian troops pushed back from borders: Ukraine

Ukrainian presidential adviser made the comment when asked about an offer from French President to mediate talks between Kyiv and Moscow to end the war that passed the 100 day mark on Friday

Ukraine says Russian troops are trying to cut access to Sievierodonetsk

Ukraine says Russia pushing hard to take Sievierodonetsk; UK says Russian air activity high over Donbas region; UN attempts to broker deal for Ukraine grain exports

Global stock markets fall, US yields rise after strong employment data

The MSCI world equity index, which tracks shares in 50 countries, was down 1.14%. The pan-European STOXX 600 index was down 0.26%.

Oil settles up despite OPEC-plus output hike plan; supply still tight

US crude notched a sixth weekly gain on tight U.S. supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers.

Japan planning to resume tourism discount as Covid eases: Report

A revived "Go To Travel" campaign would likely serve as a core measure to stimulate consumer demand, a media report said

Russian air activity remains high over Donbas: UK military intelligence

Russian air activity remains high over Ukraine's Donbas region with Russian aircraft carrying out strikes using both guided and unguided munitions, UK said

Another ship sent to take metal to Russia arrives in Mariupol: Report

Earlier this week, a ship left Mariupol for Russia with a cargo of metal

Some suppliers working with retailer to cut prices amid inflation: Walmart

Investors have questioned Walmart's ability to ask suppliers to offer price reductions when they too are focused on protecting margins in the face of inflation hovering at a four-decade high

Ukraine says its troops have pushed back Russian advance in eastern city

Sergiy Gaidai, governor of Luhansk province, said Ukrainian troops had retaken 20% of the territory they had lost in Sievierodonetsk

Crypto scam victims lose more than $1 billion since 2021: US govt report

More than 46,000 people reported losing over $1 billion in cryptocurrency scams since the start of 2021, the Federal Trade Commission (FTC) said in a report

Musk feels 'super bad' about economy, needs to cut 10% of Tesla jobs

Tesla employed around 100,000 people at end of 2021. Musk warned staff on Tuesday to return to office or leave.

Xiaomi names new head for India unit after dispute over business practices

Tse, a British national who was also the former general manager of Xiaomi Indonesia, has helped the company expand into many global markets, Xiaomi India said in a tweet

Crypto scam victims have lost more than $1 bn since 2021: US FTC report

The craze for cryptocurrencies was at a fever pitch last year with bitcoin hitting a record high of $69,000 in November.

Amazon's CEO of Worldwide Consumer to step down after 23 years

Amazon CEO Andy Jassy says he expects to be ready with an update on Clark's succession over the next few weeks.

Oil prices gain slightly after Opec+ agrees to increase production

U.S. crude was heading for a sixth weekly gain on tight U.S.supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers

Some hedge funds face steep losses after betting on the hot sectors

Data from Hedge Fund Research shows the HFRX Global Hedge Fund Index slipped 1 per cent in May, leaving it down 3.31 per cent for 2022 till date

EU blacklists "butchers" of Bucha and Mariupol in latest Russia sanctions

European union has blacklisted military commanders from Russia who led operations in Ukraine cities of Bucha and Mariupol

Wall Street slides after strong jobs data; Dow Jones down 160 points

The Nasdaq Composite was down 207.54 points, or 1.68%, at 12,109.36

Twitter says waiting period for Musk's deal over after being put on hold

Completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders and the receipt of applicable regulatory approvals, Twitter said.