Roundup: COVID-19 booster / Consumer borrowing surges / Tech crackdown

    No third shots: As one of the world’s most prominent pharmaceutical companies warns that a booster shot may be needed to protect citizens from novel coronavirus variants, the federal government says otherwise, WBRZ-TV reports. According to two leading federal agencies, the Food and Drug Administration and the Centers for Disease Control and Prevention, people do not need a third, or booster, dose of a COVID-19 vaccine at this time. Read the full story. 

    Credit usage: U.S. consumer borrowing surged by a larger-than-expected $35.3 billion in May as Americans, bolstered by a reopening economy and rising job levels, went back to using credit in a big way. Borrowing on credit cards and for auto and student loans showed solid gains in May, the Federal Reserve reported Thursday. It marked the fourth straight month of strong growth in consumer borrowing and followed an April advance of $20 billion. Fed officials said the $35.3 billion seasonally adjusted increase in May was the largest one-month gain on records that go back to 1943. See the report. 

    Big Tech: President Joe Biden will sign a new executive order today aimed at cracking down on anticompetitive practices in Big Tech, labor and numerous other sectors, CNBC reports. The sweeping order, which includes 72 actions and recommendations that involve more than a dozen federal agencies, is intended to re-shape the thinking around corporate consolidation and antitrust laws, according to a White House fact sheet. Read the full story.