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Retail Sales in April rose .9%, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at a 40 year high.

 

Shares of Twitter traded sharply lower after Elon Musk hinted that he could seek to renegotiate the price of his Twitter takeover, saying a deal at a lower price wasn’t out of the question.  Twitter shares have also erased all of the gains since Musk disclosed his buyout. Musk said Friday that the acquisition was “on hold” while he researches the proportion of fake and spam accounts on the platform, which he believes Twitter has misstated.  Musk on Monday estimated that fake users make up at least 20% of all users. Twitter, meanwhile, has said the accounts made up fewer than 5% of its monetizable daily active users in the past quarter.

 

U.S. officials reached an agreement to allow baby formula maker Abbott to restart its largest domestic factory, though it will be two months or more before any new products ship from the site to help alleviate the national shortage facing parents.  Under the agreement, Abbott must work with outside experts to upgrade their standards and reduce bacterial contamination at the Sturgis, Michigan, facility, which the Food and Drug Administration has been investigating since early this year. The deal, which must be reviewed by a federal judge, amounts to a legally binding agreement between the FDA and the company on steps needed to reopen the factory.

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