The antiviral drug Remdesivir has proven to be effective in the treatment of COVID-19. According to UPI, the drug can lower the risk of death in COVID-19 patients by 62%. U.S. drugmaker Gilead Sciences reported the new data on Friday. Gilead said the results came from a comparative analysis among 312 patients in its Phase 3 clinical trial. There have been over 3.4 million confirmed cases of coronavirus in the U.S., with a death toll of 138,247 people.
Gilead Sciences said Friday additional data from a late-stage study showed its antiviral remdesivir reduced the risk of death and significantly improved the conditions of severely ill COVID-19 patients. Fred Katayama reports.
The European Commission said Friday it had given conditional approval for the use of antiviral drug remdesivir in severe COVID-19 patients. As Fred Katayama reports, that makes it the region's first authorized therapy to treat the virus.
Gilead is the pharmaceutical company behind a drug that’s been approved for COVID emergencies. The FDA officially announced the medicine could be used in treating COVID-19 patients. Gilead has now announced the drug will cost $3,120 per typical treatment course for insured individuals. Research has indicated the drug could cut the recovery time for hospitalized COVID-19 patients. It could shorten satsy by several days, reports Gizmodo.
Business Insider reports that banks' and tech giants' earnings largely impressed Wall Street. Bank of America says discount stores are set to post similarly positive results, according to Bank of America. BoA analysts expect the sector's second-quarter figures to hold strong thanks to rising food sales and improvement in general merchandise revenue. Thanks to momentum in higher-profit categories and successful online operations Walmart, Target, and Dollar Tree are in good positions.
Wall Street ended higher after a choppy session on Tuesday, but they were capped by declines in AIG and Microsoft. As Fred Katayama reports, Disney shares shot higher after its adjusted profit handily beat expectations.
Wall Street analysts on Wednesday weighed in on AMC Theatres' historic agreement with Universal Pictures that will allow the studio's movies to be made available on premium video-on-demand after just 17 days of play in cinemas.
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On Wednesday, Shopify reported second-quarter earnings results that beat Wall Street's expectations for revenue. The company surged 97% on the year as the coronavirus pandemic boosted online sales. Shares of Shopify surged as much as 12% Wednesday. Business Insider reports the Canadian e-commerce company has gained roughly 170% year-to-date.
Wall Street dropped sharply on Thursday as investors fretted over the first weekly jump in jobless claims in months and a battle in Congress over the extension of a special unemployment payout. Conway G. Gittens has the action.
A major fire broke out at a hotel in Andhra Pradesh's Vijayawada, killing at least nine people and trapping several others. The hotel - Swarna Palace - was being used as a Covid-19 facility. It was being used as a Covid care centre by Ramesh Hospitals. There were about 30 patients and 10 medical staff at the time of accident. Vijayawada police commissioner B Srinivasulu said that the control room was informed at around 5.15 am about the fire breaking out in the hotel. "We rushed tenders immediately and the fire was brought under the control now,” he said. About 17 patients were brought out safely using ladders. Two staff members jumped from hotel's second and third floors after the fire. So far, 9 bodies have been brought out and they were found to have died of suffocation. The rescue operations were underway till the reports last came in. Andhra Pradesh chief minister YS Jagan Mohan Reddy expressed shock and grief over the accident. Reddy has instructed officials to conduct an inquiry into the accident. He has also announced an ex gratia of Rs 50 lakh to each of the families of those killed in the hotel fire. State Governor Biswabhushan Harichandan expressed his condolences to the bereaved families.
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RiverFront Investment's Chris Konstantinos says investors should get exposure to Europe partly because it has done a good job of containing the health crisis, enabling manufacturing to rebound. He tells Reuters' Fred Katayama why Germany is particularly attractive.
Homebound customers of Uber Technologies more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from pandemic rock-bottom. Fred Katayama reports.
Crossmark Global Investments' Victoria Fernandez is still bullish about tech stocks, but she says investors should take some profits on the big names. She tells Reuters' Fred Katayama investors should put the proceeds into Walmart, McCormick and JPMorgan Chase.