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Former U.S. president Donald Trump tightened the six-decade-old embargo of Cuba and sharply restricted money transfers to Cuba in late 2020. Now the administration of new President Joe Biden is once again making it legal for Americans to send larger amounts of money to Cuba, saying it hopes to stimulate private enterprise there.
Source: ctv business
In Cuba, caution and confusion meet eased U.S. sanctions

A massive recall is getting most of the blame for the U.S. baby formula shortage, but experts say the products have long been vulnerable to this type of crisis due to decades-old policies that have allowed a handful of companies to corner the market.
Source: ctv business
U.S. safety, savings rules set stage for baby formula shortage

Canadian mortgage brokers say homebuyers are increasingly considering credit unions and private lenders to secure mortgages as rates rise.
Source: ctv business
Interest in mortgages from credit unions, private lenders up as rates rise: brokers

Snap Inc said the U.S. economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off.
Source: ctv business
Snap sends shares tumbling with warning on economy and earnings

Airbnb Inc. will stop listing homes and experiences inside China this summer and instead focus its business in the country on serving Chinese tourists looking for lodgings abroad, a company official said on social media Tuesday.
Source: ctv business
Airbnb ends rentals in China to focus on outbound tourists

Stocks fell broadly on Wall Street in afternooon trading Tuesday, weighed down by a pullback in big technology companies, amid mounting worries that persistently high inflation will dim corporate profits.
Source: ctv business
Slumping technology stocks pull Wall Street lower

The District of Columbia on Monday sued Meta chief Mark Zuckerberg, seeking to hold him personally liable for the Cambridge Analytica scandal, a privacy breach of millions of Facebook users’ personal data that became a major corporate and political scandal.
Source: ctv business
DC sues Mark Zuckerberg over Cambridge Analytica privacy breach

Facebook parent Meta said it will start publicly providing more details about how advertisers target people with political ads just months ahead of the U.S. midterm elections.
Source: ctv business
Facebook, Instagram to reveal more on how ads target users

Starbucks is leaving Russia for good. The coffee company paused its operations and stopped shipments of its products to Russia in March. Now, it ‘has made the decision to exit and no longer have a brand presence in the market,’ Starbucks said in a brief statement Monday.
Source: ctv business
Starbucks is leaving Russia for good

The COVID-19 pandemic has been good for the wallets of the wealthy. Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668, according to an analysis released by Oxfam on Sunday. That means a new billionaire was minted about every 30 hours, on average, so far during the pandemic.
Source: ctv business
A new billionaire has been minted nearly every day during the pandemic