Two Democratic senators oppose Powell as Fed chair
Their opposition comes as President Joe Biden is expected to announce within days whom he will choose for the nation’s most powerful economic position.
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FDA approves COVID boosters to all adults; final hurdle ahead
There’s one more step: The Centers for Disease Control and Prevention must agree to expand Pfizer and Moderna boosters to even healthy young adults. Its scientific advisers were set to debate later Friday.
Here’s what’s inside Dems’ massive social and climate measure
The 2,135-page bill includes universal preschool, funding to limit child care costs, expanded health care programs and a one-year continuation of a child tax credit, among many other provisions.
House moves toward OK of Dems’ sweeping social, climate bill
House approval is expected Friday on a near party-line vote. That would send the measure to a Senate where cost-cutting demands by moderate Sen. Joe Manchin, D-W.Va., and that chamber’s strict rules seemed certain to force significant changes.
CVS Health to close hundreds of drugstores
The company said Thursday that it will close about 300 stores a year for the next three years, nearly a tenth of its roughly 10,000 retail locations as it reduces store count density in some places.
NCAA women’s basketball tournament expands to 68 teams
The tournament is expanding beginning with the current season, giving it an equal number of participants as the men’s tournament as part of a concerted effort at gender parity.
U.S. unemployment claims drop for seventh straight week
Overall, 2.1 million Americans were collecting traditional unemployment checks during the week that ended Nov. 6, down by 129,000 from the week before.
Rising prices threaten profit margins at food companies
As food producers raise prices, grocers and restaurants are passing the increases along to consumers for the most part, rather than have them chip away at profit margins. That strategy might not work much longer, several analysts said.
Pfizer, U.S. ink $5.29B deal for possible COVID-19 treatment
Pfizer asked the Food and Drug Administration on Tuesday to authorize emergency use of the experimental pill, which has been shown to significantly cut the rate of hospitalizations and deaths among people with coronavirus infections.
Deere workers approve third contract offer, end monthlong strike
The United Auto Workers union said 61% of its members approved the deal with Deere & Co. on their third vote, even though the new offer was strikingly similar to one that 55% of workers rejected two weeks ago.
FedEx shooting victims ask Indianapolis for $2.1 million
Lawyers for the victims said the Indianapolis Metropolitan Police Department and the Marion County Prosecutor’s Office failed to follow Indiana’s red flag law when they decided not to file a case with the courts to suspend the shooter’s gun rights in March of 2020.
Under pressure, Apple allows self-repairs to iPhones, Macs
Apple is launching an online store for self-service repairs early next year that it says will have more than 200 individual parts and tools for making the most common repairs on the iPhone 12 or iPhone 13.
Indiana high court taking governor’s suit over emergency law
The legal fight over the increased power Indiana legislators gave themselves to intervene during public health emergencies will be going before the state Supreme Court, although not for nearly five months.
U.S. offering investment to boost COVID-19 vaccine capacity
The Biden administration is making billions of dollars available to drugmakers to expand domestic production of COVID-19 vaccines in the hopes of building capacity to produce an additional 1 billion shots per year to share with the world.
Nominee for U.S. banking regulator faces hostile opposition
Saule Omarovaa’s previous criticism of the banking industry makes the banks fearful she will be a tough regulator for Wall Street. They also are wary because of academic writings in which she has proposed substantial overhauls to how banks operate in the U.S.
Biden pushes electric vehicle chargers as energy costs spike
The president is hoping to do even more to promote electric vehicles, including a provision for a $7,500 tax credit for consumers who buy electric vehicles through 2026 that’s been floated as part of his proposed $1.85 trillion social services and climate bill.
Indiana governor, GOP lawmakers look to end COVID-19 orders
Indiana’s governor is facing pressure from fellow Republicans to end the statewide COVID-19 public health emergency order that’s been in place since March 2020 even as the state has seen a recent jump of infections and hospitalizations.
GOP-majority court chosen to consider Biden vaccine mandate
The selection could be good news for those challenging the administration’s vaccine requirement, which includes officials in 27 Republican-led states, employers and several conservative and business organizations.
Boosters for all adults in U.S. could be OK’d by this weekend
Pfizer asked U.S. regulators last week to allow boosters of its COVID-19 vaccine for anyone 18 or older. The Food and Drug Administration is expected to sign off on Pfizer’s application.
Yellen extends date for potential debt default
Treasury Secretary Janet Yellen told Congress on Tuesday that she believed she would run out of maneuvering room to avoid the nation’s first-ever default soon after Dec. 15.