1031 days ago
Clothing traffic and brick and mortar sales have been on the rise, says credit card data from Bank of America. The week ended May 29th shows a 24.4% YoY increase in retail sales (excluding cars). E-commerce sales have actually slowed down a bit but are still up 1.3% YoY, which volume is still bulky considering an impressive 2020 e-commerce year.
1031 days ago
"Big Tech is on defense because you have the Democrats controlling the Senate and the House. And you have a president who has made antitrust and monopolies a big deal," said Robert Atkinson, president of the Information Technology and Innovation Foundation, a technology and public policy think tank. "The companies see themselves in the crosshairs of a fairly aggressive push to restructure U.S. antitrust in a pretty fundamental way."
1031 days ago
1031 days ago
Biogen's new Alzheimer disease treatment drug approval sent the biotech index on an up ramp that drove the Nasdaq Biotech index to a point not seen in the past seven months. This FDA approval is a first for an Alzheimer's Drug in nearly two decades. Shares of Eli Lilly & Co. jumped 10% and closed at a record high, while Biogen’s partner in Japan, Eisai Co., surged 56% in U.S. trading, the biggest gain ever for the stock. Small-cap companies working on treatments for the disease also climbed: Cassava Sciences Inc. rose 5.4%, while Annovis Bio Inc. gained 7.4%.
1032 days ago
The global chip shortage that has first disturbed the car industry to then expand to the consumer electronics sector is expected to last for at least another year, wars Flex, a Singapore-based chip manufacturer.
