(Bloomberg) -- President Xi Jinping said China will make any coronavirus vaccine universally available once it’s developed. Xi addressed the World Health Organization a day after a senior U.S. official suggested Beijing sent airline passengers to spread the coronavirus worldwide.An experimental vaccine from Moderna Inc. showed promising early signs that it can create an immune-system response in the body that could help fend off the virus, based on a small, early human trial. Stocks surged on the news.New York Governor Andrew Cuomo said the state would help any professional sports league that resumes play, as long as it is without fans. He also announced that Western New York, which includes Buffalo, would reopen on Tuesday.Iran reported the biggest increase in infections in six weeks. Germany recorded a small gain in cases, though the daily death toll fell.Key Developments:Virus Tracker: Cases top 4.7 million; deaths exceed 316,000Rogue businesses go underground to dodge...
Pacific Gas & Electric's plan for getting out of bankruptcy has won overwhelming support from the victims of deadly Northern California wildfires ignited by the utility's fraying electrical grid, despite concerns that they will be shortchanged by a $13.5 billion fund that's supposed to cover their losses. The backing of the wildfire victims keeps PG&E on track to meet a June 30 deadline to emerge from bankruptcy in time to qualify for a coverage from a California wildfire insurance fund created to help protect the utility from getting into financial trouble again. The current bankruptcy case, which began early last year, will require PG&E to pay out about $25.5 billion to cover the devastation caused by its neglect....
On Monday, Uber Technologies announced that it would be cutting an additional 3,000 jobs. The company also revealed that it was considering reducing investments in several of its non-core projects, to help focus resources in its ride-hailing and food delivery sectors. The Final Round panel discuss the latest from Uber. ...
(Bloomberg) -- Betting against Moderna Inc. may be a risky proposition right now after a first look at its Covid-19 vaccine in humans drove the shares to fresh highs. The stock is ripe for a short squeeze, according to financial analytics firm S3 Partners.Short bets against the biotech firm have been growing since February even as the stock continued to scale new heights on optimism it may get regulatory authorization for one of the first vaccines during the global pandemic. Bears gambling against Moderna lost about $427 million Monday alone and more than $900 million so far this month, Ihor Dusaniwsky, S3’s managing director of predictive analytics, said in an email.The Cambridge, Massachusetts-based company has continued to rally despite potential safety concerns around the highest doses of its experimental vaccine. Moderna published results from a handful of patients that many were expecting to come from the government itself after the company...
Gold and silver prices rallied Monday amid market strength as news from a Moderna Inc (NASDAQ: MRNA) trial stoked optimism about a potential coronavirus vaccine. On Monday, June gold futures were trading at $1,733 and July Comex silver prices were at $17.39 per ounce."Gold and gold stocks had a strong month, recovering all of their March losses and moving to long-term highs," Joe Foster, portfolio manager and strategist at VanEck, said in a note.Hedging With Gold As the pandemic market panic subsides, investors are trying to gauge the risks and opportunities in a world that carries a level of uncertainty that only those with memories of the Great Depression and World War II have experienced, the VanEck strategist said. "Continued strong inflows to bullion exchange traded products along with strong demand for retail coins indicates both institutions and individuals are turning to gold as a store of value and hedge against...
All eyes were on Moderna, which sparked a big rally on Wall Street after announcing promising early trial data of a coronavirus vaccine that is the furthest along among U.S. biotechs in the race....
In light of the COVID-19 outbreak and the necessities of social distancing, the American Truck Historical Society has decided to move its annual National Convention and Antique Truck Show online. ...
