The Asian Development Bank has cut its growth forecast for China due to concerns over the country’s zero-Covid approach and strict lockdowns, which put even more pressure on the real estate sector. Gross domestic product growth for the world’s second largest economy is expected to be …
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in …
Parts shortages and pandemic-related production shutdowns at Tesla’s plant in Shanghai caused a big drop in the electric car maker’s latest global vehicle deliveries, according to figures released on Saturday. The US automaker said it had delivered 254,000 vehicles in the second quarter. Though up 27 …
Signage for Tencent Holdings atop an office building in Shanghai, China, on March 22, 2022. China’s Tencent reported on Wednesday its quarterly profit halved from a year ago and revenues stagnated, blaming cuts in advertising spending by consumer, e-commerce and travel businesses for its worst performance …
Novavax on Monday reported its first profitable quarter as its Covid vaccine rolls out across several countries around the world, though the company still missed earnings and revenue expectations. Novavax reported net income of $203 million in the first quarter, compared to a net loss of …
Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more than 7% in premarket trading Wednesday before falling. Its stock was down modestly in afternoon trading. Moderna maintained its full-year guidance …
Albert Bourla, chief executive officer of Pfizer pharmaceutical company, arrives to ring the closing bell at the New York Stock Exchange. Drew Angerer | Getty Images Pfizer on Tuesday cut its 2022 earnings guidance, despite reporting first quarter results that beat on the top and bottom …
Syringes and a box of Johnson & Johnson vaccine. Paul Hennessy | SOPA Images | LightRocket | Getty Images Johnson & Johnson on Tuesday lowered its full-year sales and earnings outlook, and stopped providing Covid-19 vaccine revenue guidance due to a global supply surplus and demand …
China’s bicycle exports for the first two months of 2022 fell by 16% from a year ago, after growing by 14.9% for all of 2021, according to customs data. Song Wei | Visual China Group | Getty Images BEIJING — Manufacturing, one of the main drivers …
