Month: July 2022
As more people report Covid rebounds after Paxlovid, experts insist cases are rare
When Dr. Anthony Fauci got Covid in June, he took Paxlovid, an antiviral drug for people with mild to moderate symptoms whose ages or immune statuses put them at high risk for severe disease. The treatment consists of three pills taken twice daily for five days. Fauci finished the treatment and tested negative for Covid. […]
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Justice Department investigating Trump’s actions as part of Jan. 6 probe
Former U.S. President Donald Trump delivers remarks at the America First Policy Institute America First Agenda Summit in Washington, July 26, 2022. Sarah Silbiger | Reuters The Department of Justice is investigating former President Donald Trump’s actions leading up to the Jan. 6 riot at the U.S. Capitol as part of its criminal probe of […]
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Stocks making the biggest moves premarket: Boeing, Hilton, Spotify, Garmin and more
Check out the companies making headlines before the bell: Boeing (BA) – Boeing posted a wider-than-expected quarterly loss with revenue that fell below consensus estimates. However, Boeing reported positive operating cash flow and, unlike in prior quarters, did not see any charges related to the production of its 737 MAX jet. Boeing jumped 4.4% in […]
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Top Federal Reserve officials say they misread inflation and now plan to correct the course
Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed the response to the Fed […]
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Deutsche Bank downgrades McDonald’s, says fast-food chain has limited upside
McDonald’s shares could be held in check for a while, though the restaurant chain is well positioned to navigate macro uncertainty, according to Deutsche Bank. Analyst Brian Mullan downgraded shares of McDonald’s to hold from buy, citing limited upside potential for the “best performing” restaurant stock in the firm’s coverage after its outperformance this year. […]
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Mortgage demand declines further, even as interest rates drop a bit
A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida. Joe Raedle | Getty Images Mortgage demand edged lower for the fourth straight week, according to data released Wednesday, even though interest rates have fallen from their recent highs. Total volume was down 1.8% last week from the […]
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Credit Suisse chairman denies plans to sell or raise capital after mammoth loss
Speculation has emerged in recent months that Credit Suisse may be considering a capital raise. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse Chairman Axel Lehmann denied any intention to sell or merge the embattled Swiss lender after it reported a massive second-quarter loss. The bank posted a net loss of 1.593 […]
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China’s property sales are set to plunge 30% — worse than in 2008, S&P says
Most apartments in China are sold before developers finish building them. Pictured here on June 18, 2022, are people selecting apartments at a development in Huai’an, Jiangsu province, near Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — China’s property sales are set to plunge this year by more than they did during […]
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Ukrainian forces reportedly attack key Russian supply route into occupied Kherson; Moscow wages gas ‘price terror’ on Europe
Yellen discusses price cap on Russian oil with UK’s Nadhim Zahawi US Treasury Secretary Janet Yellen speaks during a press conference in Bali on July 14, 2022. U.S. Secretary of the Treasury Janet Yellen highlighted a proposed price cap on Russian oil on a call with British Chancellor of the Exchequer Nadhim Zahawi on Tuesday, […]
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Deutsche Bank beats expectations to post eighth straight quarter of profit
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany, September 30, 2016. Kai Pfaffenbach | Reuter Deutsche Bank beat market expectations to post an eighth straight quarter of profit on Wednesday, recording a second-quarter net income of 1.046 billion euros ($1.06 billion). The German lender exceeded consensus expectations among […]
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