Pharmaceutical firm Moderna, best known for its Covid-19 vaccine, announced it was entering the final stages of bringing three new vaccines to market. Moderna desperately needs new products since the Covid-19 shot demand has fallen and the firm has no other products on the market. The firm's stock price fell by 45% during 2023 as a result.
Tag: prices
There’s a Shortage of Luxury Apartments in Manhattan, and It’s Driving Up Prices (Micro News for October 7, 2023 – October 13, 2023)
The prices of luxury Manhattan apartments are surging as a paucity of supply leaves those consumers with plenty of cash, bidding prices higher. The luxury market is defined as the apartments priced in the top 10% of the market. Most of these buyers spending millions of dollars on apartments pay cash and do not need to worry about financing at the current high mortgage rates.
Oil and Natural Gas Prices Rise After Weekend of Turmoil in Russia (Micro News for June 24, 2023 – June 30, 2023)
Global oil and natural gas prices moved higher in trading on Monday June 26, 2023 due to uncertainty over supply disruptions caused by a Russian political insurrection over the weekend. Wheat prices also spiked for the same reason since Russia exports more wheat than any other nation and it continues to be the second largest oil exporter even in the face of western nation embargoes.
Bank of England Governor Says the UK is Facing a Wage-Price Spiral (Macro News for May 20, 2023 – May 26, 2023)
Andrew Bailey, head of the Bank of England, believes that the U.K.'s economy is in a wage-price spiral despite the bank's continued efforts to control inflation via a series of 12 consecutive increases in interest rates. He concedes that some of the inflation is due to higher energy prices but also places much of the blame on domestic wage growth.
Pearson Economic News 