Breaking News: Business
Novavax posts first profitable quarter as Covid vaccine rolls out around the world
Rafael Henrique | LightRocket | Getty Images Novavax on Monday reported its first profitable quarter as its Covid vaccine rolls out across several countries around the world, though the company still missed earnings and revenue expectations. Novavax stock was down more than 8% in after hours trading. Novavax reported net income of $203 million in […]
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Goldman Sachs is shrinking its SPAC business amid regulatory crackdown and market turmoil
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, May 9, 2022. Brendan McDermid | Reuters Goldman Sachs is scaling back its business in the once red-hot SPACs as blank-check deals got caught in a double whammy of regulatory crackdown and tough market environment. “We are reducing our involvement […]
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U.S. will limit next generation Covid vaccines to high-risk people this fall if Congress doesn’t approve more funding
The U.S. will have to limit the next generation of Covid vaccines this fall to individuals at the highest risk of getting seriously sick from the virus if Congress fails to approve funding to purchase the new shots, according to a senior Biden administration official. The official, who spoke on condition of anonymity, warned that […]
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Rivian stock plummets as Ford unloads 8 million shares of EV start-up
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Shares of Rivian Automotive plummeted in premarket trading Monday following a CNBC report that Ford Motor is selling 8 million shares of the electric vehicle start-up. Rivian’s stock was down 19% in extended […]
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‘Doctor Strange in the Multiverse of Madness’ snares $185 million in domestic debut
Still from “Doctor Strange in the Multiverse of Madness.” Disney The summer blockbuster season has started with a bang. Disney’s latest Marvel Cinematic Universe flick “Doctor Strange in the Multiverse of Madness” snared $185 million domestically over its debut weekend, the highest haul of any movie released in 2022. “Nothing says movie theaters are back […]
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Disney investors are focused on streaming, but don’t forget about theme parks
Handout | Getty Images Entertainment | Getty Images LOS ANGELES – In April last year I took a stroll down an empty Main Street in Disneyland with the head of Walt Disney theme parks, Josh D’Amaro. The California park was a week from opening after more than a year of being shuttered due to Covid-19 […]
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Diesel fuel is in short supply as prices surge — Here’s what that means for inflation
The prices for gas and diesel fuel, over $6.00 a gallon, are displayed at a petrol station in Los Angeles, March 2, 2022. Frederic J. Brown | AFP | Getty Images Diesel prices are surging, contributing to inflationary headwinds due to the fuel’s vital role in the American and global economy. Tankers, trains, trucks and […]
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Starbucks hit with sweeping labor complaint including over 200 alleged violations
Starbucks workers react as they speak to the media after union vote in Buffalo, New York, December 9, 2021. Lindsay DeDario | Reuters The regional director of the National Labor Relations Board in Buffalo, N.Y., issued a complaint Friday accusing Starbucks of 29 unfair labor practice charges that included over 200 violations of the National […]
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Starbucks criticizes Biden’s visit with union leaders, requests White House meeting
US President Joe Biden delivers remarks on economic growth, jobs, and deficit reduction in the Roosevelt Room on Wednesday May 4, 2022. Demetrius Freeman | The Washington Post | Getty Images Starbucks is asking the White House for a meeting after President Joe Biden met with an organizer who is helping its coffee shops unionize. […]
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Used-car prices are down from record highs, easing the impact of inflation
A sign advertises cash paid for used cars in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images DETROIT – Wholesale used-vehicle prices have notably fallen from a record high set in January, signaling the worst of sky-high prices related to higher inflation in the U.S. may be behind us. […]
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