Month: August 2020

TORONTO, Aug. 27, 2020 /CNW/ – CIBC (TSX: CM) (NYSE: CM) today announced its financial results for the third quarter ended July 31, 2020. …read more […]

An Indian court on Thursday halted insolvency proceedings against Reliance Group chairman Anil Ambani, the younger brother of India’s richest man, and barred him from disposing of any of his assets. Anil Ambani, who runs a business group separate from his billionaire brother Mukesh Ambani, had filed a plea with the Delhi High Court challenging the appointment of a resolution professional over a roughly 12 billion rupee ($163 million)personal guarantee that he had given to the State Bank of India for loans to his companies. …read more […]

Novavax Inc expects filing for approval of its COVID-19 vaccine candidate in the United States in December, Chief Executive Stanley Erck said in an interview for Czech daily Hospodarske Noviny, released on Thursday. Novavax said on Monday it had begun enrolling volunteers for the second phase of an ongoing clinical trial of its COVID-19 vaccine candidate, with interim data expected in the fourth quarter of 2020. …read more […]

…read more […]

Moderna disclosed on Wednesday that its mRNA vaccine candidate (mRNA-1273) against COVID-19 demonstrated robust immune responses in older adults that were comparable to those in younger adults. Shares rose 6.4% to $70.50 on Wednesday.The new interim safety and immunogenicity data from the cohorts of older adults in the Phase 1 study were presented by Moderna (MRNA) at the US Centers for Disease Control and Prevention meeting on Wednesday. The study of 20 adults over the age of 55 found that almost two months after getting the second of two vaccine doses, participants had antibody levels higher than those of people …read more […]

Facebook Inc (NASDAQ: FB), in a statement Thursday, claimed Apple Inc’s (NASDAQ: AAPL) latest operating system for iPhone devices will make it harder to track user data across apps, and thus, impact targeted advertising on its platform.What Happened: The Mark Zuckerberg-led company acknowledged that it would stop collecting the identifier for advertisers (IDFA) on its apps on iOS 14, but may revisit this decision at a later time.Separately, in a blog post, the social media company claimed it is being forced to stop collecting the IDFA by the actions of the Cupertino-based technology titan. The social network behemoth also detailed …read more […]

(Bloomberg) — Apple Inc. will likely boost sales of its AirPods range by a third this year, but that won’t stop it from losing its dominant grip on the fast-growing wireless earbuds market.The AirPods have come to define the true wireless (TWS) earphones category, with Apple accounting for nearly half of all sales in 2019 and expected to grow to 82 million units this year, according to Counterpoint Research data. More affordable alternatives from Chinese rivals, however, have eroded Apple’s lead and the Silicon Valley company now finds itself with just over a third of the market, at 35%, followed …read more […]

(Bloomberg) — TikTok Chief Executive Officer Kevin Mayer has resigned just months after taking the helm of the viral short video app, stepping out of the crossfire as the Trump administration targets the business owned by China’s ByteDance Ltd.Mayer told employees of his decision in an internal memo and a company spokeswoman confirmed his resignation. Vanessa Pappas, currently general manager of ByteDance’s prized international service, will take his place.Mayer joined TikTok as CEO in May, leaving one of the top jobs at The Walt Disney Co. For more than a decade, he helped the world’s largest entertainment company strategize and …read more […]

Spot gold was down 0.6% to $1,941.43 per ounce by 0315 GMT, after rising 1.3% on Wednesday on expectations of more stimulus measures. U.S. gold futures eased 0.2% to $1,949.50. “After rising $26 an ounce overnight, short-term profit taking has seen gold edge lower in Asian trading,” said Jeffrey Halley, a senior market analyst at OANDA. …read more […]

(Bloomberg Opinion) — For at least two years, I’ve been calling out Xiaomi Corp. for pretending be an internet player when it really just makes smartphones. It took a global pandemic and economic meltdown for the Chinese company to finally realize its vision, sort of.A heady startup valuation and an initial public offering in 2018 were predicated on the idea that Xiaomi’s ecosystem of devices, sold at minimal profit, would drive demand for a more lucrative array of internet services, such as games and advertising. This didn’t bear fruit. Smartphones consistently contribute more than half the company’s revenue, while gross …read more […]

The United States Food and Drug Administration granted emergency use authorization to a 15-minute COVID-19 test produced by Abbott Laboratories (NYSE: ABT) on Wednesday.What Happened:The BinaxNOW COVID-19 test, priced at $5, is capable of delivering test results without laboratory instrumentation and comes with an accompanying smartphone app that patients can use to display their results at no cost, Abbott said in a statement.The FDA granted the EUA with a caveat that negative results of the test don’t rule out infection with SARS-COV-2 and the test should not be used as the sole basis for treatment.The drugmaker said it will start …read more […]

The latest data from an early Phase I study includes an analysis from 20 additional people detailing how the vaccine performed in older adults. The analysis looked at subjects given the 100-microgram dose being tested in the much larger Phase III trial. Moderna said the immune responses in those aged between ages 56 and 70, above age 70 and those 18 to 55-years-old were similar. …read more […]

(Bloomberg) — Chinese electric-car startup XPeng Inc. is raising about $1.5 billion in a U.S. initial public offering, expanding the size of its share sale and pricing the shares above a marketed range.The company is selling 99.7 million American depositary shares on for $15 each, based on a filing Wednesday with the U.S. Securities and Exchange Commission. The Guangzhou-based company had marketed 85 million shares for $11 to $13 apiece. The company will be valued in the offering at $10.8 billion based on the outstanding shares listed in its filings.Strong share price gains this year by Tesla Inc. and NIO …read more […]

(Bloomberg) — Trevor Milton, the founder and chairman of Nikola Corp., is giving the first 50 employees of the electric-truck startup 6 million of his own shares after making a promise when he hired them.“When I first started this company I was looking for the best employees in the world and it was a huge risk,” Milton said in a video posted on his Instagram page. “The likelihood of us ever succeeding was like next to none and luckily I found an incredible group of employees that started with me from day one.”The shares he’s handing over in the Phoenix-based …read more […]

Posted by OFX AUD – Australian Dollar The Australian dollar climbed through 72 US cents Wednesday amid broad based US dollar weakness. Having offered little to excite investors throughout the domestic session the AUD found upward momentum overnight extending through 0.72 to touch fresh weekly highs at 0.7240. Market sentiment remains positive, … Continue reading “Aussie dollar hits fresh weekly high ahead of US Central Bank commentary”The post Aussie dollar hits fresh weekly high ahead of US Central Bank commentary appeared first on . …read more […]