Moderna recently reported second-quarter revenue that exceeded expectations, but the company had to cut its full-year sales guidance due to various reasons. The lower expected sales in Europe, competitive respiratory vaccine market in the U.S., and potential deferred revenue into 2025 were cited as key factors. As a result, Moderna now anticipates 2024 product revenue
In a groundbreaking move, a Chinese property developer in Nanjing has decided to refund homebuyers their deposits for apartments in a project that they were unable to complete. This initiative is part of a housing return programme coordinated by local authorities, marking a significant step towards resolving the prevalent issue of unfinished homes in the
Investors have been questioning Meta’s substantial investment in artificial intelligence, wondering if the payoff will come soon. However, in a recent earnings call following the company’s impressive second-quarter report, CEO Mark Zuckerberg emphasized the present benefits of AI. The advancements in AI have helped Meta outpace its competition in the digital advertising market, which is
Billionaire investor Bill Ackman made an unexpected decision to scrap the launch of Pershing Square USA just days before the fund was set to begin trading on the New York Stock Exchange. This sudden change in plans came after Ackman downsized the initial public offering (IPO) for the second time in a week, citing the
In the midst of the upcoming presidential election, the tech industry is experiencing a significant divide in political ideologies. Following the endorsement of Donald Trump by a portion of the tech investing world, a group of over 100 venture capitalists have united to pledge their support for Vice President Kamala Harris, the presumed Democratic nominee.
Bill Ackman, the hedge fund titan, has decided to withdraw plans for an initial public offering of Pershing Square USA after investor demand fell short of the original expectations. The fund had initially aimed to raise $25 billion, but was only able to secure interest in the range of $2 billion. This significant difference in
The Federal Reserve decided to keep interest rates unchanged, maintaining the benchmark rate in a range between 5.25% and 5.5%. This decision came after a period of assessing incoming data to guide policy decisions. Recent reports have shown progress on inflation, with the core personal consumption expenditure (PCE) index, the Fed’s preferred inflation gauge, remaining
The recent recall of Boar’s Head products has significantly expanded to include a substantial 7 million pounds of deli and poultry items due to a deadly outbreak of listeria infections. These infections have affected 34 people in 13 states, leading to 33 hospitalizations and tragically, two deaths. The fatalities occurred in Illinois and New Jersey.
German flagship carrier Lufthansa recently announced that it expects lower third-quarter earnings due to declining yields and increasing unit costs. This news comes at a time when European airlines are grappling with flattening demand and challenges related to aircraft delivery disruptions. The company stated that airfares in Europe and Asia have either plateaued or fallen,
Ford Motor has recently revealed the redesigned version of its small pickup truck, the 2025 Ford Maverick. This updated model boasts a range of advancements, including enhanced technology, new performance options, and the introduction of a hybrid variant. The Maverick has enjoyed a surge in popularity since its initial launch in 2021, with sales and