An American biotechnology company is working on a version of its COVID-19 vaccine that specifically targets the newly identified Omicron variant. Maryland-based Novavax has already started developing the version, with plans to start testing it next month. The updated formulation revolves around a new spike protein, which triggers a response from the human immune system….
US-based Company Developing Vaccine That Targets New COVID-19 Variant
November 27, 2021
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Delta, United Not Revising South Africa Flights Amid Variant Concerns
November 27, 2021
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WASHINGTON—Delta Air Lines and United Airlines said on Friday they do not plan any changes to their South Africa-U.S. routes after the White House said it plans to impose new travel curbs on southern Africa starting Monday amid concerns about a new COVID-19 variant. Delta and United are the only U.S. passenger carriers that have…
US Bond Funds See First Weekly Outflow in Over Four Months: Lipper
November 27, 2021
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U.S. bond funds posted a net outflow in the week to Nov. 24 as investors raised bets that the Federal Reserve would become more aggressive in normalizing monetary policy to fight inflation after President Joe Biden nominated Jerome Powell as chairperson for a second term. According to Refinitiv Lipper data, investors sold U.S. bond funds…
WTO Postpones Major Meeting After New Variant Outbreak
November 27, 2021
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GENEVA—The World Trade Organization (WTO) became the first major diplomatic casualty of the new coronavirus variant on Friday when it postponed its first ministerial meeting in four years due to the deteriorating health situation. Ministers from WTO members were due to have gathered next week for a meeting widely seen as a test of the…
Equities, Oil Prices, US Treasury Yields All Drop on COVID-19 Variant Fears
November 27, 2021
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WASHINGTON/LONDON—Shares tumbled on Wall Street on Friday as they reopened after Thanksgiving, while European stocks saw their biggest sell-off in 17 months and oil prices plunged by $10 per barrel as fears over a new coronavirus variant sent investors scurrying to safe-haven assets. The World Health Organization (WHO) on Friday designated a new COVID-19 variant…
Dow Jones Drops 900 Points on Opening Bell as New COVID-19 Variant Roils Markets
November 26, 2021
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The Dow Jones fell over 900 points just after opening bell on Nov. 26, with other major Wall Street stock indexes—and risk assets more generally—also seeing sell-offs as news of a new COVID-19 variant spreading in South Africa seems to have sparked a broader risk-off sentiment among investors. By 10:30 a.m. New York time, the…
From Pilots to Ramp Agents: US Airlines Go All Out to Staff Up
CHICAGO—From offering premium pay to hefty signing bonuses or poaching workers from other airlines, American carriers are scrambling to ramp up staffing for the holiday season and prevent disruptions that marred air travel this summer. After reducing headcount by thousands during the depths of the pandemic, the industry is grappling with shortages of pilots, flight…
Money Markets Scale Back ECB Rate Hike Bets on Coronavirus Variant Worries
November 26, 2021
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LONDON—Euro zone money markets on Friday scaled back bets on a rate hike from the European Central Bank next year as news of a new coronavirus variant spreading across South Africa cast a shadow over the short-term economic outlook. Money market futures were pricing in roughly a 50 percent chance of 10 basis point rate…
Macy’s CEO Says Black Friday Crowd Size Bigger Than Last Year
Macy’s CEO Jeff Gennette told CNBC on the morning of Nov. 26 that Black Friday shopper traffic was up compared to the same point last year, adding that he expects a great day in sales terms as the busy holiday shopping season gets underway. Gennette told the outlet that Macy’s saw “a big rush” in…
Japan PM Kishida Urges Companies to Raise Wages by 3 Percent or More
November 26, 2021
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TOKYO—Japanese Prime Minister Fumio Kishida on Friday urged companies whose earnings have recovered to pre-pandemic levels to raise wages by 3 percent or more at their labour talks next spring, aiming to achieve a virtuous cycle of growth and wealth distribution. Kishida also told his “new capitalism” panel meeting that the government would take steps…
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