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Pfizer eyes big drop in Covid-related revenues in 2023
After two straight years of surging sales due to Covid-19 products, Pfizer projected a steep decline in 2023 revenues as demand for vaccines and therapeutics ebbs. Pfizer projected that 24 percent of the US population would receive a Covid-19 vaccine in 2023, down from the 31 percent level in 2022.
US Fed starts policy meeting with smaller rate hike likely
US central bankers opened a two-day policy meeting Tuesday on rising expectations that they will slow the pace of interest rate hikes again, as inflation begins to fade. These indicators raise hopes that the policy-setting Federal Open Market Committee (FOMC) will announce a smaller, 25 basis points hike at the end of its meeting Wednesday.
After turbulent year, UBS upbeat with eye on Asia
Swiss banking giant UBS voiced optimism for 2023 on Tuesday, hoping that higher interest rates and a swelling business in Asia would boost its results following a turbulent 2022. It said it expected "higher interest rates to positively affect our net interest income, especially for the Swiss franc and the euro."
GM profits rise after record quarter in North America
General Motors rode a strong performance in North America to higher fourth-quarter profits and said Tuesday that an easing in logistics problems has helped brighten its outlook for 2023. However, the outlook for vehicle pricing remains a question mark on auto industry profitability.
Libraries offer novel 'warm space' for hard-up Britons
As Britain endures a cost-of-living crisis, public libraries and other community hubs are providing "warm spaces" for vulnerable members of society to stay safe and access free food this winter. - 'Come for company' - Poole said it feels like "a natural extension of the function of" libraries to be safe and warm spaces.
Eurozone dodges recession but gloomy outlook persists
The eurozone economy showed greater resilience than expected after avoiding a recession in the fourth quarter of 2022, official data showed Tuesday, but the outlook remained gloomy as soaring prices dampen growth. Italy's economy also retreated in the final quarter of 2022, decreasing by 0.1 percent, official data showed on Tuesday.
ExxonMobil reports record profits of $55.7 bn in 2022
ExxonMobil reported record annual profits of $55.7 billion in 2022 on Tuesday, reflecting higher commodity prices amid recovering demand and the impacts of Russia's invasion of Ukraine. In the fourth quarter, profits rose 43.7 percent to $12.8 billion, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period.
Green energy investment tops $1 trillion, matches fossil fuels
Investment in cleaner energy is on the verge of overtaking spending on fossil fuels for the first time ever after exceeding $1 trillion last year, a report on Tuesday said.
Brexit gloom prevails on UK's three-year anniversary
British Prime Minister Rishi Sunak defended Brexit as a "huge opportunity" on Tuesday, as the UK marked three years since leaving the EU amid economic crisis and a growing public sense of "Bregret".
AFP
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