Pfizer and BioNTech plan on asking the U.S. Food and Drug Administration (FDA) to grant emergency use authorization for a booster for their COVID-19 vaccine for children aged 5- to 11-years-old, the companies announced on April 14. The submission will be based on data from a Phase 2/3 clinical trial that showed a boost in…
Pfizer to Ask US Regulators to Authorize COVID Vaccine Booster for 5–11 Age Group
Fed’s Williams: 50 Basis Point Hike Is a ‘Very Reasonable Option’ for May
The U.S. Federal Reserve should reasonably consider raising interest rates by a half percentage point at its next meeting in May, New York Fed President John Williams said on Thursday, in a further sign even more cautious policymakers at the central bank are on board with a bigger rate hike. “I think that’s a very…
Yellen to Host Washington Summit on Global Food Crisis
U.S. Treasury Secretary Janet Yellen is hosting a summit in Washington next week meant to address the impact of rising food costs. The meetings, scheduled for the week of April 18, will include financial leaders from around the world, with representatives from the leading industrial nations of the G-7 and G-20 as well as heads…
Ineos Asks UK Government for Permission to Build Shale Gas Fracking Test Site
British Chemical and energy giant Ineos has written to the UK government with an offer to develop a test site to prove the safety of fracking in the UK. It comes after the UK government said it’s “remaining open-minded” about fracking for shale gas in the North Sea and commissioned a review of the latest scientific evidence…
Will Chinese Firms in America Agree to Follow US Laws?
Commentary The United States has the most open capital markets in the world where firms come to raise capital. The one clear requirement is that firms follow the laws, rules, and regulations on U.S. securities and finance. Beijing is fighting to see if its firms raising capital in the United States can avoid this basic…
S&P 500, Nasdaq Set for Muted Open After Mixed Bank Earnings; Twitter Jumps
The S&P 500 and the Nasdaq were set to open lower on Thursday, following mixed earnings from a slew of Wall Street lenders on the last day of a holiday-shortened week, while Twitter shares jumped after billionaire Elon Musk’s takeover offer. Twitter Inc jumped 6.4 percent in premarket trading after Tesla Inc. CEO Elon Musk…
Treasury Curve Un-inverts, Good News or Bad News?
Commentary What “should” have happened last month to the Treasury curve did not. The Federal Reserve, as you know, is in a race with itself to fulfill what are almost certainly politically-driven directives. From the White House through the Halls of Congress, the need for someone somewhere to appear to be doing something about “inflation.”…
Russian Ruble Falls With Capital Control Measures in Focus
The Russian ruble weakened on Thursday, driven by expectations that Russia may relax its temporary capital control measures further, while stocks fell as the country continued what it calls “a special military operation” in Ukraine. Currently, Russian exporters are obliged to sell 80 percent of their forex revenues in the first three days after receiving…
Euro Turns Negative as ECB Confirms Plans to End Bonds Buys
April 14, 2022
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LONDON—The euro fell on Thursday after the European Central Bank kept its policy stance broadly unchanged, sticking to plans to slowly unwind stimulus. The euro turned negative, falling 0.1 percent to $1.08820 as of 1210 GMT after the ECB confirmed its plans to cut bond purchases, commonly known as quantitative easing, this quarter, then end…
Amazon Adding 5 Percent ‘Fuel and Inflation Surcharge’ to US Seller Fees as Inflation Soars
Amazon announced on April 13 that it will add a five percent “fuel and inflation surcharge” to seller fees in the United States in an effort to offset its rising costs as inflation levels soar across the country. The e-commerce giant said the new surcharge will go into effect on April 28 and will apply to sellers…
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