BioNTech recently confirmed its plans to request approval for its COVID-19 vaccine to be used on children between the ages of 5 and 12 all over the world.
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(Bloomberg) -- If there's any country that might've been in a position to rescue Europe from its energy crisis, it’s the U.S. — home to vast shale fields holding a seemingly endless supply of natural gas and giant terminals capable of liquefying it and shuttling it abroad. Most Read from BloombergThe Country That Makes Breakfast for the World Is Plagued by Fire, Frost and DroughtHSBC Bets Big on China as Pressure Mounts in LondonHow Los Angeles Became the City of DingbatsWhy the Gaza Strip May B
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Dr. Manish Garg, Emergency Medicine Physician & Co-Founder of World Academic Council of Emergency Medicine, joins Yahoo Finance to discuss the latest on the coronavirus pandemic.
Automakers are cutting well into muscle at this point…
GUANGZHOU, China (Reuters) -Guo Hui, whose cleaning business is owed 20 million yuan ($3.1 million) by embattled real estate giant China Evergrande, is counting on the government to fix a crisis that has left his own company on the brink of bankruptcy. In the meantime, the 50-year-old known by friends and colleagues as "Brother Hui", has sold his Porsche Cayenne and put his apartment on the market in a scramble to raise cash to pay debts and wages. "We've reached out to those in charge but they either say they have no money or don't know when they can settle the payments," Guo said from his office at the back of a building in a street in Guangzhou's Tianhe district that is lively with small restaurants and stalls.
China's C919 jetliner - a no-show at the country's biggest air show this week – has found it harder to meet certification and production targets amid tough U.S. export rules, according to three people with knowledge of the programme. The state-owned manufacturer, Commercial Aircraft Corp of China (COMAC), has been unable to get timely help from suppliers and has run out of some spare parts, those people said. U.S.-linked suppliers are gradually receiving the licences, but the hiccup has slowed down Chinese certification, and months-long delays threaten to affect early production, said the people, who declined to be named because of the sensitivity of the matter.
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Spirit AeroSystems Inc. hopes to solidify its production workforce to support what is expected to be significant output increases by its primary customers. According to a letter to employees, which was obtained by the WBJ, the International Association of Machinists and Aerospace Workers recently approached the company about its members that still have Boeing Co. pension plans that want to withdraw those funds. Spirit was spun off from Boeing (NYSE: BA) in 2005.
(Bloomberg) -- Pakistan only started importing liquefied natural gas six years ago, but its growing dependence on the super-chilled fuel is starting to turn into a nightmare.The surge in global gas prices due to shortages in Europe has pushed Asian LNG to records for the time of year. That’s forced Pakistan to pay the most ever for spot shipments to top up supply under long-term contracts, or even forgo them altogether.The shortfall means the nation will “definitely” suffer power outages over th
Most offices have eight-hour workdays—how many of those hours are we really supposed to be working? We asked a productivity expert, a psychologist, a labor journalist, and a boss.
Soaring energy prices and cheap valuations make this group attractive.
Investors have been rewarding companies that are doing a particularly good job of pumping out free cash flow and increasing their shareholder returns.
Hurricane Ida also hit oil output, a primary reason Goldman sees the price going to $90. Goldman Sachs has raised its oil price forecast to $90 a barrel as it said Hurricane Ida should prove to be “the most bullish hurricane in U.S. history.” “Global oil demand is back to converging to pre-Covid levels led by mobility in Asia, including China, and with the Delta Covid impact fading,” they said, adding that the global decline in air travel was smaller than first feared.
(Bloomberg) -- China may be diving head first into a power supply shock that could hit Asia’s largest economy hard just as the Evergrande crisis sends shockwaves through its financial system. Most Read from BloombergHow Los Angeles Became the City of DingbatsWhy the Gaza Strip May Be the City of the FutureSchool Reopenings Falter as U.S. Kids Near 1 Million Covid CasesThe Rise of the Pandemic DashboardA Jewish Tradition Makes Room for Unconventional DesignThe crackdown on power consumption is be
Shortages of electricity in China threaten to slow down economic growth there, while Europe has its own problems. Oil prices are rising.
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NEW YORK (Reuters) -Wells Fargo & Co will pay $37.3 million to settle U.S. government claims it fraudulently overcharged commercial clients on foreign exchange services, the latest in a string of scandals over the bank's treatment of customers. Monday's settlement resolves U.S. Department of Justice civil fraud charges against the fourth-largest U.S. bank, and includes a $35.3 million fine plus a $2 million forfeiture. The Justice Department said sales specialists jokingly used expressions such as "back the truck up" and "when in doubt, spread them out" when they were overcharging customers, with one referring to the sales group as a "bucket shop."
General Motors warned that salaried workers who have not reported their coronavirus vaccination status by this Friday, October 1, will receive a letter of safety violation. Employees who choose not to reveal whether they're vaccinated will also risk a financial penalty. "Continued non-compliance will result in a second safety letter violation and a reduction of the performance bonus," General Motors spokeswoman Maria Raynal told The Detroit Free Press.
(Bloomberg) -- A $1 billion project to haul natural gas from Pennsylvania to New Jersey has become the latest casualty of opposition to pipelines across the U.S. Most Read from BloombergHow Los Angeles Became the City of DingbatsWhy the Gaza Strip May Be the City of the FutureThe Country That Makes Breakfast for the World Is Plagued by Fire, Frost and DroughtSchool Reopenings Falter as U.S. Kids Near 1 Million Covid CasesThe Rise of the Pandemic DashboardPennEast Pipeline Co., a joint venture of
As China tries to reshape its economy, many U.S. companies, including those in materials and technology sectors, may feel some pain.
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What if coronavirus could be prevented with a pill? Pfizer said on Monday it has started testing an oral antiviral drug for people exposed to COVID-19. In a mid-to-late stage study, Pfizer will test a pill in up to 2,660 healthy adults aged 18 or older. Participants in the trial must live in the same household as a person with a confirmed case of coronavirus. The antiviral pill is designed to block the activity of a key enzyme needed for the coronavirus to multiply. Pfizer and its rivals, including U.S.-based Merck & Co Inc., have been racing to develop an easy-to-administer pill for COVID-19. To date, Gilead Sciences’ intravenous drug remdesivir is the only approved antiviral treatment for COVID-19 in the U.S. While effective, it is time-consuming, costly and requires medical assistance to administer the treatment.
Two major Taiwanese chipmakers, however, said their China facilities are operating as normal. The development comes as tight coal supplies in China and toughening emissions standards have triggered a contraction in heavy industry in several regions, dragging on the country's economic growth rate, analysts have said. Apple supplier Unimicron Technology Corp late on Sunday said three of its China subsidiaries stopped production from midday on Sept. 26 until midnight on Sept. 30 to "comply with the local governments' electricity limiting policy".