Most investors who owned stocks in the past year have lost money. the SPDR S&P 500 SPY total return in that time is roughly -4.8 percent. But there’s no question some big-name stocks have done much better than others in that stretch. Uber’s Bumpy Ride Unfortunately, one stock that has struggled mightily since April of last…
Japanese Enterprises Suffer from Shanghai Lockdown, Most Plants Suspend Production
The prolonged lockdown in Shanghai has taken a heavy toll on the operation of foreign companies. Most Japanese factories in Shanghai came to a standstill and the problem spilled over to domestic Japanese manufacturers that have halted production due to a lack of necessary spare parts. Roughly 63 percent of Japanese factories in Shanghai are…
Over 60 Percent of Organizations Impacted by Supply Chain Attacks in 2021: Report
Over 60 percent of organizations across the globe say they have been impacted by a software supply chain attack in the last year, according to a new survey by software supply chain management platform, Anchore. Software supply chain attacks are an emerging kind of cyberattack in which hackers target a business’s network via trusted third-party vendors, suppliers or through…
Chinese Developers’ Debt Woes Worsen as Sales, Yuan Weaken
HONG KONG—Chinese developer Zhongliang Holdings is scrambling to secure bondholder approval to extend the repayment on notes worth $729 million ahead of a key deadline next week, joining peers desperate to avoid offshore debt defaults. The Shanghai-based company has struggled to sell enough houses amid a sustained property downturn in China or secure refinancing to…
4 Ways to Protect Your Small Business From Cyberattacks
May 12, 2022
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Since the beginning of the COVID-19 pandemic, small businesses have quickly adopted remote working and transitioned to new technologies, such as contactless payments and online ordering. Unfortunately, these adjustments have come with increased risks. According to a 2022 report from Barracuda, a cloud and networks security company, small businesses with fewer than 100 employees receive…
Peloton Headwinds Stiffen as People Break Pandemic Routines
Peloton’s uphill ride to get more sales is getting rougher as more people return to gyms and other pre-pandemic exercise routines and embrace cheaper options. The maker of high-end exercise bikes and treadmills, once highflying in the early days of the pandemic, on Tuesday reported mounting losses and slowing sale. It also offered a bleak…
Novavax’s 22 Percent Post-Earnings Plunge: 5 Factors That Took Toll
May 11, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusCompaniesEarningeconomyNovavaxSharesVaccines & SafetyWorld
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Novavax, Inc. shares slumped 22.27 percent after-hours on Monday, reacting to its quarterly financial report. What would have been a trophy quarter to flaunt, given COVID-19 revenue only just began to trickle in, turned out to be a big disappointment. Here’re five reasons why the COVID-19 vaccine maker’s report triggered a negative reaction: 1. Vaccine…
Lucid CEO Concerned About Chip Supplies From China Due to COVID Lockdown
May 11, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyLucidSpecial Topicszero-COVID
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SAN FRANCISCO—The chief executive of Lucid Group Inc on Wednesday expressed concern about chip supplies from China due to COVID-19 pandemic-related lockdowns, adding that the U.S. electric vehicle startup is taking measures to mitigate the impact. “My biggest concern probably is semiconductors from China and the impact of COVID in that part of the world,”…
COVID-19 Vaccine Producer Hid Evidence of Problems: Report
May 10, 2022
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AMERICABusiness & EconomyBusinesses in COVID-19CCP ViruscongressCOVID-19Editor's PicksMarylandPoliticsUSVaccines & Safety
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Executives at a company that produced millions of COVID-19 vaccine doses attempted to hide evidence that some of the doses were contaminated, according to a congressional report released on May 10. Emergent BioSolutions “took repeated steps to conceal its quality failures from the federal government and other third parties by limiting access to Bayview, tampering…
IRS Battling Backlogs Caused by Pandemic Relief Payments, Staff Shortage
May 9, 2022
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Business & EconomyBusinesses in COVID-19economic policieseconomyExecutive BranchIRSpandemic reliefPolicies & ImpactsPoliticsstaff shortageUSUS News
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The tax season of 2022 has been quite chaotic for the Internal Revenue Service due the “significant challenges,” including staffing shortages and backlogs of tax returns. Because of the pandemic, the IRS faced an unprecedented amount of work during the 2021 filing season. The agency started this year with a backlog of more than 8.4…
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