The Biden administration is pushing TikTok’s Chinese owners to sell the app or face a possible ban. But there are many complications to finding a suitor.
Category: United States
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F.D.A. Advisers Endorse Paxlovid’s Benefits as a Covid Treatment
While an agency analysis did find signs of Covid “rebound,” the drug significantly reduces hospitalizations and deaths, researchers said.
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Low Rates Were Meant to Last. Without Them, Finance Is In for a Rough Ride.
Economists expected inflation and rates to stay low for years. With Silicon Valley Bank’s implosion, Wall Street is starting to reckon with how wrong that prediction has proved.
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HelloFresh to Stop Buying Coconut Milk From Thailand Amid Claims of Monkey Labor
The meal kit company’s decision follows an advocacy group’s report claiming that some monkeys in Thailand are forced to climb trees and pick the fruit.
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U.S. Approves a Merger Between Two Big North American Railroads
Canadian Pacific’s acquisition of Kansas City Southern will create a railroad that links Canada, the United States and Mexico.
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Stock Markets Tumble as Bank Fears Go Global
Shares fell sharply, with banking stocks taking a beating, as Tuesday’s rally quickly faded.
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Volkswagen Will Invest $193 Billion in Electric Cars and Software
The German automaker announced a plan to accelerate its transition to battery-powered vehicles and bolster operations in China and North America.
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After Days of Panic, Midsize Banks See Stocks Rise
Shares in midsize banks that seemed to be on the brink stage a comeback.
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Investigators Clear Former U.S. Soccer Coach in 1992 Incident
An inquiry found no reason U.S. Soccer could not rehire Gregg Berhalter as coach of the men’s national team. But investigators criticized the parents of a player for their part in the controversy.
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HSBC to Buy SVB UK, Silicon Valley Bank’s British Subsidiary
Prime Minister Rishi Sunak said the country’s financial system was in good health and would not suffer from the demise of Silicon Valley Bank.
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More Retiree Health Plans Move Away From Traditional Medicare
Retirees whose former employers offer health coverage are being shifted to privately run Medicare Advantage, often against their wishes. The change saves millions for employers.
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Justice Department Sues to Block JetBlue’s Acquisition of Spirit
Antitrust regulators said the deal would reduce competition and raise fares. The companies claim it would allow them to better compete against the biggest U.S. airlines.