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Merck reported third-quarter revenue of $16.66 billion and adjusted earnings of $1.57 per share, surpassing analyst expectations. Strong sales from Keytruda and new treatments offset a decline in Gardasil vaccine sales, which fell 11% due to lower demand in China. The company narrowed its full-year sales forecast and adjusted profit guidance, reflecting a one-time charge related to business development deals.
Merck & Co. has reduced its full-year sales forecast as demand for its HPV vaccine, Gardasil, continues to decline in China for the second consecutive quarter. In the third quarter, Gardasil sales reached $2.3 billion, marking an 11% decrease from the previous year, although sales are increasing in most other regions.
The Bank for International Settlements has withdrawn from a digital cross-border payments project after Russian President Vladimir Putin highlighted its potential to bypass sanctions and challenge the dollar's dominance. The remaining countries involved—China, Thailand, Saudi Arabia, Hong Kong, and the UAE—will continue to develop the initiative independently, with China providing the essential technology.
Comcast exceeded third-quarter earnings expectations, driven by the Summer Olympics in Paris, which significantly boosted NBCUniversal's revenue and Peacock's subscriber count. The company reported earnings per share of $1.12 and revenue of $32.07 billion, a 6.5% increase year-over-year. Despite a 10% decline in net income to $3.63 billion, the media segment's revenue surged nearly 37% to $8.23 billion, largely due to Olympic-related advertising revenue.
The European startup M&A market has contracted significantly, with only five billion-dollar deals in 2023, none involving venture capital-backed companies. The absence of major tech giants limits high-profile exits, leading to lower valuations and a fragmented ecosystem compared to the U.S., where large companies drive innovation and acquisitions. This disparity highlights the challenges faced by European startups in achieving growth and attracting investment.
Raiffeisen Bank International (RBI) is seeking compensation for its Russian operations before considering a full exit, as stated by CEO Johann Strobl. While the bank is reducing its Russian footprint, it lacks a specific exit strategy and faces legal obstacles that may delay the sale of its Russian business. The European Central Bank has mandated RBI to develop a plan to diminish its presence in Russia, prompting significant customer restrictions.
Ethiopia has significantly increased its revenue target to 1.5 trillion birr ($12.5 billion) for the fiscal year ending July 7, up from the previously set 613 billion birr. This ambitious goal aligns with an International Monetary Fund financing program that mandates economic reforms. Prime Minister Abiy Ahmed announced the new target during a session with lawmakers.
Euro zone inflation unexpectedly rose to 2% in October, driven by increased prices in food, alcohol, and tobacco, complicating prospects for a significant interest rate cut by the European Central Bank (ECB) in December. Core inflation remained steady at 2.7%, while services inflation held at 3.9%. Stronger growth and low unemployment have diminished expectations for a jumbo rate reduction, with markets now anticipating a smaller 25-basis-point cut instead.
Boston Medical Center has launched the Clean Power Prescription program, providing solar energy assistance to approximately 80 patients with chronic medical needs, helping them reduce utility bills by about $50 monthly. The initiative, supported by 519 solar panels, aims to address the financial burdens of energy costs, particularly for low-income patients. With plans for expansion, the hospital seeks additional partners to increase the program's reach and impact on health outcomes.
The upcoming US presidential election could significantly impact several multi-billion-dollar energy projects. Republican candidate Donald Trump has pledged to eliminate climate policies he criticizes and increase oil and gas production to lower energy costs, stating, “If they drill themselves out of business, I don’t give a damn.”
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
merck reports strong earnings driven by keytruda despite declining vaccine sales
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11:31 31.10.2024
merck lowers sales outlook as gardasil vaccine demand declines in china
11:30 31.10.2024
BIS withdraws from digital payment project after Putin's remarks on sanctions
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11:30 31.10.2024
comcast surpasses earnings expectations driven by olympics and peacock growth
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european startup exits decline amid fragmented market and lack of tech giants
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Deutsche Börse's acquisition of SimCorp
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11:11 31.10.2024
raiffeisenbank seeks compensation before potential exit from russian market
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Johann Strobl
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11:04 31.10.2024
Ethiopia aims for 12.5 billion dollars in revenue through new taxes
11:03 31.10.2024
euro zone inflation rises to 2 percent complicating interest rate cut plans
11:03 31.10.2024
hospital launches solar program to assist low-income patients with utility bills
United States Dollar
Eversource Energy
USA
Tilak Subrahmanian
Aparna Bole
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Bob Biggio
Anna Goldman
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11:00 31.10.2024
energy projects at stake as election shapes future of oil and gas
11:00 31.10.2024
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