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  • News
    The Canadian Press

    Remnants of bird flu virus found in pasteurized milk, FDA says

    The U.S. Food and Drug Administration said Tuesday that samples of pasteurized milk had tested positive for remnants of the bird flu virus that has infected dairy cows. The agency stressed that the material is inactivated and that the findings “do not represent actual virus that may be a risk to consumers.” Officials added that they're continuing to study the issue. “To date, we have seen nothing that would change our assessment that the commercial milk supply is safe,” the FDA said in a stateme

  • Business
    Reuters

    Oil prices inch up after data shows unexpected drop in U.S. crude stocks

    Oil prices rose in early trade on Wednesday, adding to gains in the previous session, after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, and attention shifted away from hostilities in the Middle East. U.S. crude inventories fell 3.237 million barrels in the week ended April 19, according to market sources citing American Petroleum Institute figures. Traders will be watching for the official U.S. data on oil and product stockpiles due at 10:30 a.m. (1430 GMT) for confirmation of the big drawdown.

  • Business
    Reuters

    Tesla's shift on low-cost cars throws Mexico, India factory plans into limbo

    Tesla said on Tuesday that it will use its existing factories to build new and more affordable vehicles as early as late this year, leaving investments in new factories in Mexico and India unlikely in the near term. The world's top EV maker said it plans to raise production by 50% from 2023 to its current capacity of close to 3 million vehicles before investing in new manufacturing lines. "This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times," the company said.

  • Business
    Reuters

    Dollar shaky after euro rebound; yen mired at 34-year low

    However the yen remained mired near a 34-year low versus the U.S. currency, even as Japanese officials stepped up intervention warnings. The dollar index - which measures the currency against six major peers including the euro, sterling and yen - was flat at 105.64 in early Asian trading after slumping 0.4% overnight and touching the lowest level since April 12 at 105.23. The euro was little changed at $1.069975 following Tuesday's 0.45% rally, after data showed business activity in the euro zone expanded at its fastest pace in nearly a year, primarily due to a recovery in services.