Health officials said that the tornado-caused damage to a Pfizer plant in North Carolina could cause future drug shortages in the United States. On Wednesday, the Pfizer facility in Rocky Mount appeared to sustain a direct hit from what National Weather Service officials say was an EF-3 tornado, halting operations at the plant. The company…
Tornado Damage to Pfizer Plant Could Trigger Nationwide Drug Shortages: Health Officials
Amazon’s Palm-Payment Technology Will Soon Be Available at More Whole Foods Stores in US
More Americans shopping in Whole Foods stores will soon be able to pay for their items with just a wave of their hand under Amazon’s One Palm recognition system. The Jeff Bezos-owned company announced on July 20 that it has teamed up with the grocery store chain in the United States on the new system…
Bankruptcies Looming in US: Money Manager
More bankruptcies may be coming for American companies. Over $100 billion of U.S. corporate debt is trading at distressed levels—something rarely seen in the last decade. Tavi Costa, portfolio manager at Crescat Capital, discusses the issues he sees looming for U.S. firms. …
Wall Street Rises as Megacaps Rebound, Dow Set for 10th Day of Gains
Wall Street’s main indexes opened higher on Friday, setting the Dow on track for its tenth straight day of gains, while megacap growth and technology stocks recovered after sharp losses in the previous session. The Dow Jones Industrial Average rose 49.14 points, or 0.14 percent, at the open to 35,274.32. The S&P 500 opened higher…
$2 Billion ‘American Heartland’ Theme Park Set to Rival World’s Top Resort Destinations
A $2 billion theme park and resort complex is being built in northeast Oklahoma and is set to rival the world’s top resort destinations, officials announced on July 19. Known as the “American Heartland Theme Park and Resort,” the 1,000-acre development with a 125-acre theme park will be located just west of Grand Lake on Route 66 and will…
FedNow Launches in US, Fed Insists Payment System ‘Not Related to a Digital Currency’
The FedNow instant payment system from the U.S. Federal Reserve is now live, with the central bank claiming that the service will enable individuals and businesses to make quick payments and receive funds within seconds. The Federal Reserve announced the launch of its interbank payment service on Thursday, which it claims will help banks and…
Oil Edges Higher, Buoyed by Tighter Supplies, China Stimulus
LONDON—Oil prices rose on Friday, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up 94 cents at $80.58 a barrel by 0955 GMT—rising as high as $1 earlier—while U.S. West Texas Intermediate (WTI) crude also climbed 94 cents to $76.59 a barrel. The supply deficit that had been…
Global Shares Subdued After US Tech Earnings Disappoint
July 21, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON, SYDNEY—Global stocks edged lower on Friday after disappointing tech earnings sapped risk appetite, while the dollar soared against the yen. The MSCI World index of global shares, which has risen more than 16 percent this year, dipped 0.3 percent. Europe’s STOXX 600 was flat and Germany’s tech-heavy Dax slipped 0.3 percent. Following steep post-earnings…
Biden Admin Announces First Offshore Wind Sale in Gulf of Mexico
July 21, 2023
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Business & Marketseconomic policiesenergyExecutive BranchLouisianaOffshore WindPoliticsRegional & State NewsState NewsTexasUSUS News
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The Biden administration on Thursday announced it will hold an offshore wind energy auction in the Gulf of Mexico in August, the first such sale in the area. The three leases are located off the Texas and Louisiana coasts. These areas have the potential to generate approximately 3.7 gigawatts (GW) and power almost 1.3 million…
Eviction Notices Rise in Several US Cities
Eviction filings are rising in several American cities, according to recent data collected by the Princeton University Eviction Lab. Princeton’s Eviction Tracking System has been keeping track of eviction filings across the United States since 2000 when the lab started to publish its findings. The findings are based on (pdf) tens of millions of public records from state and county…
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