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IMF cuts 2022 global growth forecast as U.S., China recovery wanes

The seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022.Stefani Reynolds | AFP | Getty ImagesThe International Monetary Fund has downgraded its global growth forecast for this year as rising Covid-19 cases, supply chain disruptions and higher inflation hamper economic recovery.In its delayed World Economic Outlook report, published Tuesday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this…

5 things to know before the stock market opens Tuesday

Here are the most important news, trends and analysis that investors need to start their trading day:1. Wall Street looks lower with Nasdaq pacing for 2% declineTraders on the floor of the NYSE, Jan. 24, 2022.Source: NYSEU.S. stock futures dropped Tuesday, with the Nasdaq indicated down 2%, one day after a stunning market turnaround. The Nasdaq was down as much as 4.9% on Monday before mounting a startling comeback to close up 0.6%. However, the tech-heavy index was still firmly in a correction, down 13.7% from its record…

J&J expects more than $3 billion in Covid vaccine sales this year in mixed quarterly report

The Janssen Johnson & Johnson COVID-19 vaccine.Allen J. Schaben | Los Angeles Times | Getty ImagesJohnson & Johnson on Tuesday projected that its Covid vaccine would generate $3 billion to $3.5 billion in sales in 2022, after posting a mixed fourth-quarter report that slightly beat on earnings' estimates but missed on revenue.Here's how they performed compared with what Wall Street expected, based on analysts' average estimates compiled by Refinitiv:Adjusted EPS: $2.13, vs. $2.12 expected.Revenue: $24.8 billion,…

Consumers accuse small retailers of price gouging on Covid tests

When Ja'Kiem Crayon tells customers the price for a single Covid-19 at-home test at the Manhattan-based pharmacy where he works, he's often in for an argument."They come in, they're like, OK, give me five," said Crayon, who works at Tisane Pharmacy and Cafe on Manhattan's Upper East Side. "And I'm like, well, they're $25 apiece. And then the eyes pop out of the head."Crayon said customers often point to examples of lower prices at large chain drug stores, where a single test might sell for under $10 — if they're in stock.…

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Pfizer and BioNTech launch clinical study of Covid vaccine targeting omicron

A ten year old child receives the Pfizer-BioNTech Covid-19 Vaccine for 5-11 year old kids at Hartford Hospital in Hartford, Connecticut on November 2, 2021.Joseph Prezioso | AFP | Getty ImagesPfizer and BioNTech on Tuesday launched a clinical study to evaluate the safety and effectiveness of a vaccine that targets the Covid omicron variant, as concerns grow that the current shots aren't holding up against infections and mild illness caused by the strain discovered just over two months ago.Pfizer CEO Albert Bourla told…

London police to investigate alleged Downing Street lockdown parties

Prime Minister Boris Johnson leaves 10 Downing Street on January 19, 2022 in London, England.Dan Kitwood | Getty Images News | Getty ImagesMetropolitan Police Commissioner Cressida Dick said Tuesday that the police will investigate alleged parties held at Downing Street and Whitehall due to an apparent breach of Covid-19 rules.This is a breaking news story, please check back later for more. Source link

Activist investors and a ‘greenwashing’ backlash: Change is coming to the corporate world

From high-profile figures such as Greta Thunberg to events like the COP26 summit, discussions about sustainability, the environment and climate change are perhaps more visible than ever before.As the 2020s progress, corporations around the world are attempting to burnish their sustainability credentials by announcing net-zero goals and plans to reduce the environmental footprint of their operations.While there is a significant degree of skepticism about many of the sustainability-related claims businesses make — concrete…

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