Sales of Pfizer’s COVID-19 vaccine and treatment in the second quarter propelled the pharmaceutical giant to the largest quarterly sales in its history. The coronavirus vaccine Comirnaty brought in $8.85 billion in sales, and the treatment Paxlovid added another $8.12 billion as company revenue totaled $27.74 billion. Pfizer said Thursday that it earned $9.91 billion,…
WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000 level in back-to-back weeks for the first time in more than eight months. Applications for jobless aid for the week ending July 23 declined by 5,000 to 256,000 from the…
(Reuters) – Canada’s main stock index rose on Thursday, helped by a slew of strong quarterly results and a jump in commodities as crude and metal prices rose after the U.S. Federal Reserve raised hopes of slowing its monetary policy tightening. At 9:30 a.m. ET (1330 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was…
NEW YORK (AP) — The head of the nation’s financial watchdog is having second thoughts about how useful fines are in deterring illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little difference. In an interview with The Associated Press, Rohit Chopra signaled that the Consumer Financial…
WASHINGTON (AP) — Cigarette maker Altria’s $13 billion investment in the troubled vaping company Juul has gone up in smoke — now worth less than 5% of its original value as U.S. regulators move to ban its e-cigarettes. Altria slashed the value of its Juul investment by more than $1.2 billion Thursday, pegging its new…
JetBlue Airways is buying Spirit Airlines for $3.8 billion in a deal that could increase competition at the top end of the U.S. airline industry while eliminating the largest discount airline for travelers on a tight budget. The agreement announced Thursday capped bidding war that began in April, and it came one day after Spirit’s…
LONDON (AP) — Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas fueled by Russia’s war in Ukraine. London-based Shell said it’s second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories — rose to $11.5…
WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday in the gross domestic product — the broadest gauge of the economy — followed…
(Reuters) -Spirit Airlines Inc on Thursday agreed to a $3.8 billion buyout offer from low-cost rival JetBlue Airways Corp, ending a drawn-out battle for the carrier whose acquisition would help create the fifth-largest U.S. airline. The victory for JetBlue comes after Spirit canceled its $2.7 billion sale to Frontier Group Holdings, but the potential combination…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit. The company also announced a $6 billion share buyback programme for the current quarter…
