Moderna says new booster candidate effective against Omicron subvariants

Moderna on Wednesday said its new Covid booster candidate, which it is hoping to get approved this fall, performed well against Omicron’s latest subvariants. The US biotech company announced earlier this month that the so-called “bivalent” vaccine, which targets the original Covid strain and original Omicron BA.1, performed better against both compared to its original […]

Sanofi-GSK Covid booster jab shows positive results

French drug maker Sanofi said Monday a Covid booster shot it is developing with Britain’s GlaxoSmithKline has produced positive results against Omicron and other variants in clinical trials. The “next-generation” vaccine delivered a “strong immune response” against multiple variants of concern in two trials, Sanofi said in a statement. The results are a boost for […]

US GDP dropped 1.4% annualized in Q1 2022, worse than expected

US economic growth fell 1.4 percent annualized in the first quarter of 2022 as the Omicron variant of Covid-19 and tapering of government spending hit consumers and business, government data said Thursday. The result was far worse than the mild increase analysts had expected, and came after the economy had grown 6.9 percent in the […]

Greggy Araneta’s Philweb posts highest growth in March

Listed gaming technology firm PhilWeb Corp. of bilyonaryo Gregorio Ma. Araneta III Greggy Araneta finished the first quarter strong with revenues enjoying substantial double-digit growth as pandemic-related restrictions continued to ease. PhilWeb’s net income, however, still declined by 22 percent to P5.6 million due to the Omicron surge early this year and the hike in […]

Qantas reports big loss, buffeted by Covid

Australian airline Qantas reported Thursday a large six-month loss as it weathered global coronavirus-related travel shutdowns, with Omicron extending its woes. Qantas said it had now lost more than Aus$20 billion (US$14 billion) in revenue since the start of the pandemic. The airline said it could see a gradual recovery ahead for flights in the […]

Vehicle sales slump in January, stalled by Omicron surge

A spike in Omicron cases at the start of the year dampened consumers’ appetite to spend on big-ticket items such as vehicles. The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported that sales of local car assemblers declined 11.2 percent to 20,765 units in January from 23,380 […]