Category: Business & Economy

Biden Says Chinese Communist Party Is Lobbying Against Competition Bill

President Joe Biden said on May 3 that the Chinese regime is trying to influence the outcome of legislation aimed at bolstering U.S. competitiveness against Beijing. “Fundamentally, this is a national security issue. This is one of the reasons why the Chinese Communist Party is lobbying folks to oppose this bill,” Biden said. “And it’s…


Ryanair Load Factor Tops 90 Percent for First Time Since COVID-19 Began

DUBLIN—Ryanair’s load factor—a measure of how well an airline is filling available seats—rose above 90 percent for the first time since the beginning of the COVID-19 pandemic as traffic rose sharply during the key Easter holiday period. Ryanair flew 14.2 million people in April compared to just 1 million during lockdown a year ago and…


Is the IWM Sell-Off Over?

Shares of the iShares Russell 2000 (IWM) ETF have been in a steady downtrend. This ETF tracks small cap stocks. If it drops to the $171 level, there’s a chance the sell-off ends and the market reverses. As you can see on the following chart, this level was previously resistance. And sometimes levels that were…


Pfizer Stock Flies Higher Following Q1 Earnings Print: Here’s What to Watch for Next

Pfizer, Inc shot up over 3 percent on Tuesday after printing its first-quarter earnings before the market open. The pharmaceutical giant reported adjusted earnings per share of $1.62, which beat the consensus estimate of $1.50. Pfizer reported sales of $25.70 billion, beating the $23.95 billion estimate. $13.2 billion of Pfizer’s sales came from its COVID-19 vaccine….


Why Airplane Ticket Prices Are Flying High, While Your Wallet Might Be Grounded

If you think filling your car’s gas tank is expensive, how about filling the tanks for a Boeing Co. 737-800? A 737-800 has a fuel capacity of 6,875 gallons and as of April 25, according to the U.S. Gulf Coast Jet Fuel Spot price, jet fuel costs $4.27 a gallon, holding steady between this price…


10 Products and Places Most Impacted by Inflation

The “transitory” inflation, as it has been called by the Federal Reserve officials, may stay around longer than expected, even with the Fed working to lower inflation through monetary policy. In March, the Fed raised the target range from 0.25 percent to 0.5 percent, the first-rate increase since the end of 2018. Economists are anticipating up…


Iran Gets Opportunity to Sell Auto Parts to Russian Carmaker

TEHRAN, Iran—A member of Iran’s syndicate of car parts manufacturers says Iranian producers have an opportunity to export their wares to a Russian carmaker, state media reported. The late Monday report quoted Hossein Bahrainian as saying “a prominent Russian car maker” requested parts from Iran. He did not name the manufacturer. He said it requested…


Twitter Can Unlock ‘Full Potential’ If It Opens up Algorithm to 3rd-Party Developers, Say Ark Analysts

Twitter Inc. (NYSE: TWTR) can unlock its full potential if it opens up its algorithmic feed to third-party developers, to allow users to opt for a mix of specially made features, Cathie Wood-led Ark Investment Management analysts said on Monday. What Happened Twitter’s full potential is waiting at the gate, analysts Sam Korus and Frank Downing wrote in a note. “We believe if third…


Biogen CEO to Step Down, Drugmaker Pulls Back on Alzheimer’s Drug Aduhelm

Biogen Inc said on Tuesday that Chief Executive Michel Vounatsos will step down and that the company is pulling back on selling its Alzheimer’s drug Aduhelm after the U.S. government’s Medicare program restricted coverage of the controversial treatment to patients in clinical trials. Vounatsos, who was named as the CEO in 2016, will continue in…


Ukraine Says Elon Musk’s Starlink Providing ‘Crucial Support,’ Serving 150,000 Users per Day

Tesla Inc CEO Elon Musk-owned SpaceX’s high-speed internet service Starlink has about 150,000 users in Ukraine in just a little over two months. What Happened Ukraine’s Vice Prime Minister Mykhailo Fedorov on Monday tweeted to reveal the number of users that are relying on Starlink as war with neighboring Russia entered its 70th day. “..around…