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The Covid Vaccine Windfall Turns for Pfizer and Moderna

19Nov

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World

The Covid Vaccine Windfall Turns for Pfizer and Moderna

Updated Nov. 19, 2023 3:03 pm ETThe U.S. was in a fit of Covid panic during Thanksgiving week two years ago. The Omicron variant had emerged like a creature from the Black Lagoon. Public-health officials indicated we’d need another updated booster. Share prices in Pfizer and Moderna surged. By month’s end, Pfizer’s stock-market value had surpassed $300 billion, up 50% from the start of the pandemic. Moderna’s shares had soared by more than 1,000% over the same period. In 2022 Pfizer became the first pharmaceutical company to book more than $100 billion in annual sales owing to government purchases of its vaccines and antiviral pill.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Chevron Bets on Peak Green Energy

The climate lobby’s pronouncements that the end of fossil fuels is nigh appear as premature as warnings two decades ago that supply would soon run out. Chevron on Monday announced a $53 billion bid for Hess Corp. because it knows the world will need oil and gas for the foreseeable future no matter how much politicians subsidize green energy.Chevron’s Hess acquisition comes on the heels of Exxon Mobil’s $60 billion tie-up with Pioneer National Resources this month. Higher interest rates are prompting consolidation across the U.S. economy, as smaller, less-capitalized companies struggle to borrow. Oil and gas giants are flush with cash owing to the run-up in prices over the past two years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 ...

China to account for 20 per cent of world’s aircraft demand over next two decades – Business Traveller

Boeing has published its latest forecast for commercial aircraft demand in China, with a total of 8,560 aircraft set to be delivered to the country between now and 2042. The manufacturer said that the 20-year demand was being driven by China’s fast-growing domestic air travel, as well as “economic growth well above the global average”. The figure means that China will account for 20 per cent of all commercial aircraft deliveries over the next two decades. Fleet growth is set to drive two thirds of deliveries over the period, with the country’s airlines set to double their fleets to nearly 9,600 jets over the next 20 years. Single aisle aircraft will make up the bulk of the deliveries, with China set to welcome 6,470 new single aisle planes between now and 2042. The rest of the forecasted...