Category: Business

Moderna Inc said on Monday it has applied for U.S. emergency authorization for its COVID-19 vaccine after full results from a late-stage study showed it was 94.1% effective with no serious safety concerns. The U.S. Food and Drug Administration said an advisory committee would meet to discuss the request on Dec. 17, making Moderna’s candidate […]

British tycoon Philip Green’s Arcadia fashion group has collapsed into administration, putting over 13,000 jobs at risk and becoming the country’s biggest corporate casualty of the COVID-19 pandemic so far. Deloitte said late on Monday it had been appointed Arcadia’s administrator and would seek buyers for the group’s brands: Topshop, Topman, Dorothy Perkins, Wallis, Miss […]

Samsung Electronics Co Ltd may discontinue its premium Galaxy Note phone next year, sources with knowledge of the matter said, a move that would reflect the sharp drop in demand for high-end smartphones due to the coronavirus pandemic. The Galaxy Note, known for its large screen and a stylus for note-taking, is one of two […]

South Korea’s LG Chem Ltd plans to more than double production capacity of battery cells it makes in China for Tesla Inc electric vehicles (EV) next year, sources said, to keep up with its U.S. client’s growth in the biggest car market. The firm, a supplier for Tesla’s Shanghai-built Model 3, will also ship its […]

Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest ever impairment, and slash project spending next year to its lowest level in 15 years. The oil major is reeling from the sharp decline in oil demand and prices from the […]

Data giant S&P Global Inc’s plan to buy IHS Markit Ltd for $44 billion will face hard questions from the incoming administration of President-elect Joe Biden, which has indicated that antitrust enforcement will get tougher, anti-trust experts said on Monday. The deal creates a stronger No. 3 in the financial information market by bringing together […]

A federal judge has rejected Bayer AG’s proposed $648 million settlement of class-action litigation by cities and other claimants over contamination from polychlorinated biphenyls, or PCBs, made by the former Monsanto Co. In a Nov. 25 decision, U.S. District Judge Fernando Olguin in Los Angeles said the accord appeared “overly broad” because it could shield […]