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Pfizer trims expectations for 2023 with sales of COVID-19 vaccine, treatment, weaker than thought

Published Mon, 23 Dec 2024 14:48:11 GMT

Shares of Pfizer are in retreat on the first day of trading after the drug company said sales of its COVID-19 vaccine and its coronavirus treatment are weaker than it had expected and cut revenue projections by $9 billion for the year. Falling sales of both clipped sales in the second quarter, but Pfizer said in August that it expected a rebound in the second half of 2023. Shares of Pfizer slipped more than 1% before the opening bell Monday and Moderna, which is heavily reliant on the competing vaccine it makes, slid nearly 5%. Pfizer said Friday that global usage of Paxlovid is trending slightly above last year, but that it’s still below expectations.The fall vaccination period just began and the New York City drugmaker said that it’s too soon to get a handle on vaccination rates for the year.Full-year revenue for Paxlovid and Comirnaty is expected to be approximately $12.5 billion, short $9 billion of what it had expected. Pfizer is lowering its full-year revenue expec...

Tourmaline Oil announces deal to buy Bonavista Energy worth $1.45 billion

Published Mon, 23 Dec 2024 14:48:11 GMT

CALGARY — Tourmaline Oil Corp. announced an agreement Monday to buy Bonavista Energy Corp. in a deal worth $1.45 billion.Under the acquisition, Tourmaline Oil will pay $725 million in shares and $725 million in cash, less Bonavista’s net debt at closing.Tourmaline said the deal represents an important component of the company’s ongoing consolidation strategy, adding decades of inventory and supplementing its existing Deep Basin assets in Alberta.“The Bonavista assets are a natural extension of Tourmaline’s existing operations in the Deep Basin where the company is already the largest producer,” Tourmaline said in a statement. The deal is expected to close in the second half of November, subject to customary regulatory and stock exchange approvals.Tourmaline said the acquisition is expected to be immediately accretive to Tourmaline’s 2024 free cash flow yield.Following closing of the deal, Tourmaline said it expects to exit 2023 with production of ...

Canada forges agreement to help Philippines track illegal fishing vessels using satellite technology

Published Mon, 23 Dec 2024 14:48:11 GMT

MANILA, Philippines (AP) — Canada will help the Philippines detect illegal fishing with its satellite surveillance system under a new agreement, Philippine officials said Monday.The arrangement gives the National Coast Watch Center of the Philippines access to data from Canada’s “Dark Vessel Detection System,” which harnesses satellite technology to track illegal fishermen even if they switch off their location transmitting devices, the Department of Foreign Affairs in Manila said.Illegal and unregulated fishing is a problem across the Philippine archipelago, including in disputed areas of the South China Sea. The Philippine coast guard has accused Chinese coast guard ships and fishing vessels of switching off their location-transmitting devices to avoid detection and surveillance.Canadian and Philippine officials signed the agreement last week on the sidelines of talks held in the Canadian capital of Ottawa to discuss ways to strengthen relations between the two countries, the Fore...

Even with economic worries, Vivid Seats CEO says customers still pay to see sports and hair bands

Published Mon, 23 Dec 2024 14:48:11 GMT

NEW YORK (AP) — Strong spending by consumers has been a linchpin keeping the U.S. economy out of a recession, and Vivid Seats CEO Stan Chia doesn’t see demand in his industry falling off. He says customers are still using Vivid Seats to find tickets to concerts, sporting events and the theater even if interest rates are high and sentiment surveys show shoppers say they’re feeling nervous. Vivid Seats’ marketplace allows people to buy and sell their tickets to live events. Chia told The Associated Press that he believes the explosion of pent-up demand for entertainment outside the house following the pandemic has burned out, and trends have returned more to normal. The conversation has been edited for length and clarity.Q: It seems like the economy is riding on whether U.S. consumers can keep spending. How do you see the state of the consumer today? A: I think what we can certainly see in our category is live events continues to be one that consumers are prioritizing in their d...

College athletes are fighting to get a cut from the billions they generate in media rights deals

Published Mon, 23 Dec 2024 14:48:11 GMT

At a reception attended by several university presidents in Manhattan, Arizona State President Michael Crowe was asked to ponder a not-too-distant future where Sun Devils football and basketball players get a cut from the billions of dollars their sports generate in media rights deals.“I don’t support that. And so are we preparing for it? The answer is no, we’re not,” Crowe recalled. “That is not an outcome which is conducive, in my view, to the success of the pluralistic, gender-balanced, college-sports framework that we presently have in the United States.”All the same, the NCAA and major college sports conferences are facing yet another antitrust lawsuit — among other legal and political challenges — that could force decision-makers to reckon with a reality where some athletes are paid employees or at least get money in a revenue-sharing model that looks a lot like professional sports.House vs. the NCAA is a class-action lawsuit being heard in the Northern District of California ...

Italy approves 24 billion-euro budget that aims to boost household spending and births

Published Mon, 23 Dec 2024 14:48:11 GMT

Italy’s far-right-led government on Monday approved a budget for next year that aims to bolster public health services, encourage families to have more children and put more money in the pockets of low- and medium-wage earners.Premier Giorgia Meloni said the 24 billion-euro ($25 billion) budget, which includes 5 billion in spending cuts, is in line with the government’s priorities. She described it as both “serious” and “realistic,” even as Italy faces an expected increase of 13 billion euros in payments to service its public debt as interest rates increase.The budget was approved by Meloni’s cabinet in a one-hour meeting before being sent for EU approval. Italian Finance Minister Giancarlo Giorgetti expressed confidence that the budget would be accepted by both the EU and markets. A cut in payroll taxes will put 100 euros a month in the pockets of 14 million Italians, aimed at boosting spending power in the face of higher inflation, Meloni said.The budget also includes ...

Germany notifies the EU of border controls at the Polish, Czech and Swiss frontiers

Published Mon, 23 Dec 2024 14:48:11 GMT

BERLIN (AP) — Germany notified Monday the European Union’s executive branch of temporary border controls at its frontiers with Poland, the Czech Republic and Switzerland, going a step beyond a move last month to strengthen checks on its eastern border.The notification would enable Germany to carry out the same systematic checks at the border that it has conducted on its frontier with Austria since 2015.The government has responded over the past week to intense pressure to address the arrival of large numbers of migrants following a pair of state elections that brought poor results for the governing parties and gains for the far-right Alternative for Germany. It has announced draft legislation to ease deportations of unsuccessful asylum-seekers as Chancellor OIaf Scholz met Friday with the opposition leader and two leading state governors for what he called a “friendly and constructive exchange” on migration issues.Interior Minister Nancy Faeser last month ordered border checks...

2 Capital Region men dead after fire in Oneida County

Published Mon, 23 Dec 2024 14:48:11 GMT

FORESTPORT, NY (WUTR/WFXV/WPNY) – Two Capital Region men have died and two others have been injured after a hunting camp fire in Oneida County. The Oneida County Sheriff's Office said the fire happened around 1 a.m. on October 14 in Forestport. Get the latest news, weather, sports and entertainment delivered right to your inbox! Joseph Funk, 64, of Gansevoort, and Thomas Dingmon, 78, of Middle Grove were pronounced dead at the scene. Bruce Siergieny, 64, from Queensbury, and Michael Hastings, 63, of Fort Edward, were burned in the fire. Siergieny was taken to St Elizabeth Hospital in Utica and Hastings was taken by helicopter to the burn unit at Upstate University Hospital in Syracuse.The call for the fire came in around 1:25 a.m. for the Forestport Fire Department and the Oneida County Sheriff's Office about a camp on fire on Nichols Mills Road. Green Island Police investigating shots fired When they arrived, the camp was engulfed in flames. Police are still investigating the c...

Janae Edmondson walks again at Smyrna High School game

Published Mon, 23 Dec 2024 14:48:11 GMT

ST. LOUIS - A brave Tennessee teen who lost her legs after a car crashed into her in downtown St. Louis is walking again. It's thanks to her new prosthetic legs.Janae Edmondson was seen walking this weekend on her new prosthetic legs. She was a special guest at the rivalry game at Smyrna High School against Stewart's Creek on Friday night in Tennessee. The PA announcer said she chose to walk there because of what Smyrna means to her. Three metros on the verge of passing St. Louis in size 21-year-old Daniel Riley is facing charges in the February crash that injured Edmondson.

Muslim boy killed and woman wounded in Illinois hate crime motivated by Israel-Hamas war, police say

Published Mon, 23 Dec 2024 14:48:11 GMT

CHICAGO (AP) — An Illinois landlord accused of fatally stabbing a 6-year-old Muslim boy and seriously wounding his mother was charged with a hate crime after police and relatives said he singled out the victims because of their faith and as a response to the war between Israel and Hamas.In recent days, police in U.S. cities and federal authorities have been on high alert for violence driven by antisemitic or Islamophobic sentiments. FBI officials, along with Jewish and Muslim groups, have reported an increase of hateful and threatening rhetoric.In the Chicago-area case, officers found the 32-year-old woman and boy late Saturday morning at a home in an unincorporated area of Plainfield Township, about 40 miles (65 kilometers) southwest of Chicago, the Will County Sheriff's Office said in a statement on social media. Relatives and a Muslim civil liberties and advocacy group identified the slain boy as the wounded woman's son.The boy was pronounced dead at a hospital. The woman had mul...