The Wall Street Journal

Food woesThe Wall Street Journal

The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. - Abbott representatives announced on Wednesday that the Sturgis plant could reopen within the next two weeks, subject to FDA approval. The company initiated a voluntary recall after two infants became sick and two died with traces of Cronobacter sakazakii, a common environmental bacteria, found in their systems after consuming formula produced in the plant. (Photo by JEFF KOWALSKY / AFP)

FDA eases baby-formula import rules to boost supplies

International makers will need to apply with the agency to make shipments to US, and safety checks will follow.

Liz Essley Whyte

Ukraine warThe Wall Street Journal

McDonald’s leaving Russia after three decades

The American fast-food giant says it will sell its business in Russia over its invasion of Ukraine.

Dean Seal

Fake accountsThe Wall Street Journal

Twitter CEO’s spam defence draws Musk emoji response

Twitter CEO Parag Agrawal suggests external estimates of bot accounts wouldn’t be accurate. Potential buyer Elon Musk has responded with a poop emoji.

Alison Prang

HousingThe Wall Street Journal

MIAMI, FLORIDA - MAY 10: In an aerial view, single family homes are shown in a residential neighborhood on May 10, 2022 in Miami, Florida. New published data has hinted at improvement in the supply of homes for sale as April's numbers show inventory down 12 percent from the same month last year, the smallests yearly decline since the end of 2019. Joe Raedle/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

Costs balloon for new US home owners

New-home buyers are confronting multiple obstacles this year, from surging mortgage rates to home construction that is taking longer than usual.

Nicole Friedman

InvestingMarkets

NEW YORK, NEW YORK - MAY 12: Traders work on the floor of the New York Stock Exchange (NYSE) on May 12, 2022 in New York City. The Dow Jones Industrial Average fell in morning trading as investors continue to worry about inflation and other global issues. Spencer Platt/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

Investors stay put, no better options

Crypto is imploding, cash is getting eaten away by inflation and even bond prices are tumbling.

Caitlin McCabe

Pay boomThe Wall Street Journal

Wall Street sign with american flags and New York Stock Exchange in Manhattan, New York City, USA.

CEO pay packages hit new high

US stock awards pushed median compensation to sixth straight record; nine CEOs got packages of $72.64m or more.

Theo Francis

AMAZONBusiness

Bezos blames Joe Biden for inflation in Twitter spat

The Amazon founder and billionaire Jeff Bezos is blaming the US President’s stimulus packages for rising prices.

Tarini Parti and Bradley Olson

The Wall Street Journal

A handout image provided by the United Arab Emirates News Agency (WAM) shows members of the Federal Supreme Council of the UAE (L to R) Sheikh Sultan bin Muhammad al-Qasimi of Sharjah, Sheikh Mohammed bin Zayed al-Nahyan of Abu Dhabi, and Sheikh Mohammed bin Rashid al-Maktoum of Dubai meeting together with other council members to elect Sheikh Mohammed bin Zayed al-Nahyan of Abu Dhabi as UAE President in Abu Dhabi on May 14, 2022. (Photo by Hamad AL-KAABI / Ministry of Presidential Affairs - Abu Dhabi / AFP) / === RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / HO / WAM" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS ===

UAE names ‘regent’ as its new leader

Leadership change is likely to have few short-term implications as Mohammed for years has steered the country’s policy.

Rory Jones

ELECTRIC VEHICLESThe Wall Street Journal

SOUTH SAN FRANCISCO, CALIFORNIA - MAY 09: A Rivian electric pickup truck sits in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Shares of Rivian stock fell 13 percent after Ford, which currently owns as 11.4 percent stake in the electric car maker, is planning to sell 8 million of its 102 million shares. Justin Sullivan/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

Ford dumps more Rivian stock

Sale leaves auto maker with about 9.7% stake in Rivian, whose stock price has been under pressure.

Mike Colias

MARKETSThe Wall Street Journal

The New York Stock Exchange (NYSE) is pictures on May 26, 2020 at Wall Street in New York City. - Wall Street stocks surged early Tuesday on optimism about coronavirus vaccines as the New York Stock Exchange resumed physical floor trading for the first time since late March. About 30 minutes into trading, the Dow Jones Industrial Average was up 2.4 percent at 25,038.94.The broad-based S&P 500 gained 1.7 percent to 3,007.76, while the tech-rich Nasdaq Composite Index advanced 1.2 percent to 9,434.99. Analysts pointed to announcements by a number of companies pursuing vaccines for coronavirus, including Merck, which said it would acquire privately-held vaccine company Themis and disclosed new research ventures with other companies. (Photo by Johannes EISELE / AFP)

Stocks are way down but they’re still expensive

The S&P 500 still has plenty of room to fall, if history is any guide.

Karen Langley

THE WALL STREET JOURNALThe Wall Street Journal

Rising food prices rock developing world

War in Ukraine is exacerbating pandemic supply-chain woes and worse-than-expected harvests around the world.

Alistair MacDonald, Nicholas Bariyo and Philip Wen

What’s new?The Wall Street Journal

Blue Mosque, Istanbul, Turkeycredit: iStockescape29 august 2021hotlist euro cruise

How Istanbul is reinventing itself

One of the world’s oldest tourist destinations has a shiny new layer of 21st-century attractions.

RICHARD MORGAN

Business

Musk tweets that Twitter deal is temporarily on hold

The Tesla billionaire says the deal to purchase the social media company would be slowed pending details supporting calculations around the number of spam and fake accounts

MICHAEL WRIGHT and DEAN SEAL

Weapon launchThe Wall Street Journal

TOPSHOT - This picture taken and released from North Korea's official Korean Central News Agency (KCNA) on May 12, 2022 shows North Korean leader Kim Jong Un (C) attending the 8th political bureau meeting of the Workers Party of Korea (WPK)in Pyongyang. (Photo by various sources / AFP) / South Korea OUT / ---EDITORS NOTE--- RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO/KCNA VIA KNS" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS / THIS PICTURE WAS MADE AVAILABLE BY A THIRD PARTY. AFP CAN NOT INDEPENDENTLY VERIFY THE AUTHENTICITY, LOCATION, DATE AND CONTENT OF THIS IMAGE --- /

Kim fires ballistic missile trio amid first Covid case

The latest launch comes after Pyongyang imposed a nationwide lockdown because of Covid-19.

Dasl Yoon

RUSSIABusiness

An OAO Sovcomflot tanker, the SCF Baltica is seen in the Laptev Sea in the Arctic Ocean near Siberia, Russia, in this undated handout photo released to the media on Tuesday, July 19, 2011. Russia plans to revive a Soviet-era Arctic sea passage to service energy projects and provide a shorter supply route to Asia for OAO Sovcomflot as the shipping line plans an initial share sale this year. Photographer: Emerov Sergey/OAO Sovcomflot via Bloomberg EDITOR'S NOTE: NO SALES. EDITORIAL USE ONLY

Russian tanker giant sells ships before sanctions hit

Sovcomflot is rushing to do deals with buyers in Asia and the Middle East to repay loans to Western banks ahead of a looming EU deadline.

Costas Paris and Benoit Faucon

COMMENTARYThe Wall Street Journal

(FILES) In this file photo taken on March 5, 2018, Cardinal Joseph Zen, 86, former Bishop of Hong Kong, listens to a question during an interview with AFP in Hong Kong. - The arrest of 90-year-old retired Catholic cardinal Joseph Zen under Hong Kong's national security law has triggered international outrage and deepened concerns over China's crackdown on freedoms in the financial hub. (Photo by Anthony WALLACE / AFP)

Cardinal arrest sparks fears over new China target

After crushing all political dissent, Cardinal Joseph Zen’s arrest reveals Beijing now has its sights set on curtailing religious liberty.

WJ editorial board

TechnologyThe Wall Street Journal

Musk target Twitter in hiring freeze; key execs quit

Twitter chief executive Parag Agrawal’s internal memo says the social media giant will stop hiring and cut costs as two senior executives exit.

Salvador Rodriguez and Deepa Seetharaman

Digital currencyBusiness

Bitcoin selling eases amid crypto turbulence

Cryptocurrencies have seen some reprieve after interest rate fears and a decoupling of a so-called stablecoin sent ripples through digital assets earlier in the week.

Caitlin Ostroff

asia-pacificThe Wall Street Journal

China’s forgotten premier steps out of Xi’s shadow

For years, President Xi Jinping sidelined China’s second most powerful political figure. Now Premier Li Keqiang is re-emerging as a force in his own right.

Lingling Wei

CommentaryThe Wall Street Journal

President Costanza takes on inflation

Biden lays out his plan on prices, but he’d do better if he did the opposite.

WSJ Editorial Board

Original URL: https://www.theaustralian.com.au/business/the-wall-street-journal/page/176