Almost half of firms given loans by British Business Bank would have gone under in pandemic November 11, 2022 Nearly half of the companies supported by a state-owned fund would have gone bust in the pandemic without its support, a new report has found. The British Business Bank’s £1.14bn support to 1,190 firms helped 48 per cent stave off going bust during uncertainty of coronavirus. The evaluation from the BBB said more than 60 [...]
Novavax dials back revenue expectations despite Covid-19 jab success November 9, 2022 Novavax, an American biotech firm, has dialled back its revenue expectations, despite roaring success from its Covid-19 vaccine. In a statement last night, the company announced that it now forecasts full year revenue to be on the low end of its previously forecast range of between $2bn (£1.7bn) and $2.3bn (£2bn). The company, which was [...]
Nervous markets scratch their heads over lockdown pain due to confusing China Covid policy November 7, 2022 Despite a big relief rally at the back end of last week, US markets still couldn’t reverse the losses of the previous three days, closing lower for the first time in three weeks, although for European markets it was a somewhat different story. The DAX finished higher for the fifth week in succession, posting its [...]
China doubles-down on zero-Covid policy November 5, 2022 China is set to continue with its current approach to tackling Covid-19, Chinese government officials said on Saturday. China will persevere with its “dynamic-clearing” approach to tackling Covid, officials from the China National Health Commission told a news conference today. The statements follow claims made by a former Chinese disease control official, at a conference [...]
Canada Goose and Estee Lauder gloomy forecasts amid Covid curbs in China November 2, 2022 Coat maker Canada Goose and make-up seller Estee Lauder both issued stark sales warnings yesterday due to Covid curbs in China. It comes as Chinese authorities have set out a seven-day lockdown in Zhengzhou, impacting the world’s largest iPhone factory. Canada Goose said yesterday that it was slashing its full-year revenue forecast due to pandemic-linked [...]
Pfizer Covid-19 revenue halves but CEO remains bright on outlook November 1, 2022 While Pfizer’s Covid-19 revenue is declining, the pharmaceutical giant has raised its outlook for the whole year after pocketing a collective revenue of $22.6bn (£19.6bn) in the past few months. The Big Pharma firm had the revenue from its Covid-19 vaccine Comirnaty plunge by 65 per cent to $4.4bn (£3.8bn) in the third quarter. However, [...]
Investors eye MGC Pharma’s Long Covid drug following positive trial October 26, 2022 Medicinal cannabis company MGC Pharmaceutical caught the eyes of investors yesterday, following positive results from a clinical study of its Long Covid drug. The London-listed bio-pharma firm tested its drug Artemic Support on 60 Covid-19 vaccinated patients suffering from Long Covid. Patients who were administered the drug twice a day for six weeks showed “significant [...]
Insurance sector’s hard-nosed approach sees surge in High Court battles October 25, 2022 A hard-nosed approach towards paying out on policies, particularly in relation to Covid-19 business interruption claims, has led to a surge in lawsuits being filed against the UK’s insurers, new research shows. The number of High Court lawsuits filed against insurance companies more than tripled between 2017 and 2021, as policyholders increasingly resorted to legal [...]
Google searches for inflation surge by 1000 per cent and overtake Coronavirus October 24, 2022 Google searches for inflation have now overtaken people concerned by Coronavirus. Between July and October of this year, searches for inflation have surged by more than 1000 per cent compared to last year. This comes as the UK, US and large parts of Europe are gripped by soaring energy and food prices due in part [...]
The City is bouncing back: Itsu sees sales surge past pre-Covid levels amid office return October 10, 2022 Asian-inspired restaurant chain Itsu has declared London is “back in business” after the capital has endured a protracted footfall recovery from Covid lockdowns. Itsu’s City sites have seen sales steadily grow throughout the year, with its third quarter shooting beyond pre-Covid levels, the brand said on Monday. “Increasing numbers” of customers are being served midweek, [...]