German drugmaker BioNTech, known for its COVID-19 vaccine developed with Pfizer, is facing a significant decline in vaccine sales. This has resulted in a substantial increase in losses during the second quarter, quadrupling compared to …
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ExxonMobil Reports Record $9.2 Billion Profit, Boosts Production Goals
ExxonMobil has announced a record $9.2 billion profit for the second quarter, surpassing analyst expectations. The strong performance was driven by increased oil and gas production, particularly from the recent acquisition of Pioneer Natural Resources. …
Continue readingIntel Stock Plunges 20% in Worst Selloff Since 2000 Amid Turnaround Struggles
Intel’s stock is set to plummet by nearly 20% in pre-market trading, marking its worst single-day decline since 2000. This dramatic drop comes after the company announced a 15% workforce reduction and the suspension of …
Continue readingBitcoin Price Drops Below $65k Amidst Fed Rate Cut Talk and Geopolitical Concerns
Bitcoin (BTC) slipped further on Thursday, extending its recent decline despite a rally in Wall Street triggered by the Federal Reserve hinting at a potential September interest rate cut. Despite the positive news, investor sentiment …
Continue readingJapan Spent $36.8 Billion to Prop Up Yen in July, Data Shows
Japanese authorities intervened aggressively in the foreign exchange market during July, spending a substantial 5.53 trillion yen ($36.8 billion) to support the yen. This intervention, confirmed by the Ministry of Finance, followed the yen’s sharp …
Continue readingDollar Soars on Geopolitical Tensions, Pound Falls After Rate Cut
The US dollar strengthened on Thursday as escalating geopolitical tensions in the Middle East boosted its safe-haven appeal. Meanwhile, the British pound fell after the Bank of England cut interest rates from a 16-year high. …
Continue readingHong Kong Retail Sales Sink Again in June, Facing Continued Challenges
Hong Kong’s retail sector continues to struggle, with sales dropping for the fourth consecutive month in June. The latest figures show a 9.7% year-on-year decline, highlighting the ongoing challenges facing the industry. While the rate …
Continue readingUS Manufacturing Gauge Dips to Eight-Month Low, But Signs of Stabilization Emerge
The Institute for Supply Management (ISM) reported that its manufacturing PMI fell to 46.8 in July, marking an eight-month low. This decline was attributed to a slump in new orders. However, despite the downturn, the …
Continue readingAltice USA Shares Plunge After Disappointing Q2 Earnings
Altice USA (ATUS) shares dropped by 3.8% in pre-market trading on Tuesday after the cable operator reported second-quarter earnings that fell short of Wall Street expectations. The company reported adjusted earnings per share (EPS) of …
Continue readingTruck Makers Go Green: Hydrogen Combustion Engines Offer a Faster Path to Cleaner Transportation
Truck manufacturers, facing pressure to reduce emissions, are embracing hydrogen combustion engines as a quick and cost-effective solution to transition from diesel. While electric batteries are too heavy for long-haul trucking and fuel cells remain …
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