Justice Department investigating Abbott baby formula plant
The factory’s closure in February 2022 was a key cause of a nationwide baby formula shortage that forced parents to seek formula from food banks, friends and doctor’s offices.
Associated Press
Articles
Treasury Secretary Yellen says debt standoff risks ‘calamity’
The Biden administration and Republican lawmakers have been at loggerheads over how to increase the government’s legal borrowing capacity.
First small modular nuclear reactor certified for use in U.S.
The U.S. Nuclear Regulatory Commission has certified the design for what will be the United States’ first small modular nuclear reactor. The rule that certifies the design was published Thursday in the Federal Register. It means that companies seeking to build and operate a nuclear power plant can pick the design for a 50-megawatt, advanced […]
Top Biden aide and Indy native Klain expected to leave White House
Ron Klain’s departure also comes as the White House struggles to contain the fallout after classified documents dating from President Biden’s time as vice president were discovered at his home in Wilmington, Delaware, and at his former institute in Washington.
Google cutting 12,000 jobs as layoffs spread across tech sector
It’s one of the company’s biggest-ever round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Facebook parent Meta and other tech companies as they tighten their belts amid a darkening outlook for the industry.
T-Mobile says data on 37 million customers stolen
T-Mobile, which has been has been hacked multiple times in recent years, said in a filing with the U.S. Securities and Exchange Commission that the breach was discovered Jan. 5.
U.S. union membership rate hits all-time low despite campaigns
Automation, outsourcing and lower unionization rates in traditional union strongholds, like auto manufacturing, are among the reasons for the steady decline.
UPDATE: Indiana’s top court hearing challenge to state abortion ban
A top state lawyer on Thursday urged the Indiana Supreme Court to uphold the state’s Republican-backed abortion ban, even as the justices weighed whether they should decide its constitutionality before lower courts have fully considered the case.
U.S. filings for unemployment benefits hit four-month low
Employers are holding on to their workers despite the Federal Reserve’s efforts to slow the economy and tamp down inflation.
U.S. Treasury buys time for Biden, GOP on debt limit deal
The countdown toward a possible U.S. government default began Thursday with Treasury implementing accounting measures to buy time as frictions between President Joe Biden and House Republicans raise alarms.
ACLU drops court challenge to Indiana trans sports ban
The ACLU said it stands by its arguments that the Indiana law violates federal Title IX protections—and indicated that it could file future legal challenges on behalf of other transgender students.
Fed’s Mester: Rate hikes have begun to quell U.S. inflation
Loretta Mester, a key Federal Reserve policymaker, said further rate hikes are still needed to decisively crush the worst inflation bout in four decades.
December retail sales fall 1.1% as inflation takes toll
Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.
Wholesale inflation in U.S. eased further in December
The ongoing slowdown in wholesale price growth is adding to evidence that the worst bout of inflation in four decades is steadily easing, though it remains far above the Federal Reserve’s target of 2%.
Microsoft laying off 10,000 as job cuts in tech sector spread
The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”
United Airlines posts $843 million profit, bullish on 2023
The report from United comes on the heels of upbeat comments by its closest rivals, Delta Air Lines and American Airlines. Officials with all three carriers say that consumers are still booking travel despite concern about the economy.
Sato joins Ganassi, to race ovals only in IndyCar
Two-time Indianapolis 500 winner Takuma Sato will share the No. 11 Honda with rookie Marcus Armstrong, who was hired to drive the IndyCar street and road course races for Ganassi.
NFL regular-season ratings down 3% over last season
The dip was not unexpected with “Thursday Night Football” moving from Fox and NFL Network to exclusively airing on Amazon Prime Video.
High court takes 8 new cases, including several involving business
In one case involving a former postal employee, the justices will consider what accommodations employers must make for religious employees. Other cases involve property taxes and prescription pricing.
Wealth looms big as ever in post-scandal college admissions
There’s little belief the college bribery scandal has stirred significant change in the admissions landscape.