CureVac, an unlisted German company, has said it is developing transportable, automated mRNA production units that it calls printers. It is also building a new stationary site that could increase its output tenfold to billions of doses....
Facebook Inc (NASDAQ: FB) CEO Mark Zuckerberg weighed in on the growing advertising boycott centered around the company and told employees that he was reluctant to bow to pressure and was not worried about the withdrawal of advertisers.What Happened The Facebook chief executive said, "We're not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue," reported MarketWatch.The comments by Zuckerberg were first reported by The Information, an online tech publication. On the topic of acceding to the demand of the boycotters, Zuckerberg said, "Usually I tend to think that if someone goes out there and threatens you to do something, that actually kind of puts you in a box where in some ways it's even harder to do what they want because now it looks like you're capitulating, and that sets up bad long-term...
Jul.02 -- David Bloom, global head of foreign exchange strategy at HSBC, discusses the dollar's status as the world's reserve currency, why the euro isn't going up or down, and why he's still bearish on the pound. He speaks on "Bloomberg Markets: European Open."...
SoftBank Group Corp (OTC: SFTBY) is looking to move away from the troubled Wirecard AG (OTC: WRCDF) after it helped arrange a $1 billion lifeline for the German firm a year before its downfall. What Happened According to the sources of the Wall Street Journal, SoftBank wants to terminate its five-year partnership agreement, struck in April 2019, with Wirecard. SoftBank was to introduce Wirecard as a digital payments provider to its portfolio of technology companies under the agreement. Under the agreed terms, SoftBank would have also introduced Wirecard to the Japanese and South Korean markets.Wirecard is under investigation by the European Union after it reported $2.1 billion in cash had gone missing.Why It Matters One of SoftBank's investment arms had infused nearly $1 billion into Wirecard in April 2019 through a convertible bond, noted the WSJ.The Japanese conglomerate did not invest any of its own funds into Wirecard. Instead, the money...
(Bloomberg) -- Oil rose for a second day as a bigger-than-expected draw in American crude stockpiles and plunging output from OPEC producers outweighed nervousness about a coronavirus resurgence in the U.S.Futures in New York edged above $40 a barrel after rising 1.4% Wednesday as the Energy Information Administration reported U.S. inventories shrunk by 7.2 million barrels last week, the most this year. Sentiment was also aided by a survey showing OPEC output fell to the least since 1991 last month.The coronavirus continues to run rampant through the world’s largest economy, with cases surging in California, Texas and Florida, the three most populous states. Many areas have now paused or reversed re-opening measures, weighing on energy demand. There was some optimism on the vaccine front, however, with a successful early trial from Pfizer Inc. and BioNtech SE.Oil has traded in a narrow range around $40 this week as supply cuts from OPEC+...
U.S. pipeline company Energy Transfer has taken the rare step of invoking force majeure - normally used in times of war or natural disaster - to prevent oil firms from walking away from a proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter. Energy Transfer wants to nearly double the size of the line, and some companies that signed up say it is no longer necessary due to the sharp fall in U.S. oil production after the coronavirus pandemic. DAPL is the largest pipeline running out of North Dakota's Bakken shale basin....
Progress towards a COVID-19 vaccine and positive EU and U.S stats provided support early on. U.S Nonfarm payrolls and jobless claims are in focus later....
