U.S. and European businesses are reconsidering their investments in China after the lockdown in Shanghai and restrictions in other cities caused major disruption to their operations.
America’s restaurants are in the same boat as the rest of the country, battling the soaring food and fuel costs that recently helped send U.S. inflation to a 40-year high.
Abbott Laboratories reached a pact with U.S. authorities that would allow it to begin making baby formula again at a troubled plant in Michigan, a move that could help ease a supply shortfall that has rattled many parents.
The White House raced Thursday to show it’s trying to ease a national baby formula shortage, as Republicans showered criticism on President Biden for a crisis that has left frantic parents scouring store shelves to feed their children.
The official line coming out of Covid-hit Shanghai is that business is returning to usual despite the ongoing lockdown, yet hundreds of manufacturers in the city aren’t operating at anywhere near to full capacity, if they’re up and running again at all.