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AP Business Overview 11:58 PM EDT Overview | Jobs

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American Airlines CFO on post-pandemic balance sheet fix

FORT WORTH, Texas (AP) — Derek Carr may have the toughest job in aviation. He is the Chief Financial Officer of American Airlines. So his job is to fix the debt-battered balance sheet so American Airlines can weather the pandemic. American Airlines has the largest debt of any U.S. airline and has a credit rating several notches below investment grade. Kerr recently told The Associated Press that American is navigating a bumpy recovery that has boosted earnings but also raised costs such as fuel and labor.

Asian stocks nearly fall on global tech recession

TOKYO (AP) — Most Asian stocks are down as technology stocks fall globally, and Japan’s SoftBank just reported a huge loss as the market slump. Such concerns come on top of concerns about inflation and what central banks will do to curb it. Stocks fell in Tokyo on Tuesday but rose in other regional markets. US futures rose as oil prices fell. Analysts say regional tensions remain a risk after U.S. House Speaker Nancy Pelosi’s recent visit to Taiwan. Tech stocks became the biggest drag on Wall Street, with the benchmark S&P 500 down his 0.1%.

Pfizer Acquisition Continues in $5.4 Billion Hematology Deal

Pfizer is acquiring sickle cell drug maker Global Blood Therapeutics in a deal of about $5.4 billion in a bid to accelerate growth after revenue surged during the pandemic. On Monday, it said its latest acquisition would boost research in rare hematology. Global Therapeutics makes his Oxybryta tablets to treat sickle cell disease. Pfizer has been cash-rich since his Comirnaty, a COVID-19 vaccine, and Paxlovid, a treatment, hit the market. The company has now announced deals totaling about $19 billion, including debt, since late last year.

BioNTech Reports Strong First Half, Expects Increased Demand

BERLIN (AP) — BioNTech, which worked with Pfizer to develop a potent COVID-19 vaccine, reports higher revenue and net profit in the first half of the year. The German pharmaceutical company said on Monday it expects demand to increase as it releases its latest vaccine targeting the new Omicron strain.BioNTech said the dynamic nature of the pandemic has caused changes in orders and earnings The company expects to release an improved vaccine for the latest Omicron variant in October 2022, which it hopes will lead to an improved version of the Omicron variant in October 2022. It said it could lead to a fall booster campaign.

FAA allows Boeing to resume 787 Dreamliner deliveries

WASHINGTON (AP) — Federal safety officials have confirmed that Boeing can resume deliveries of the 787 Dreamliner jet. The Federal Aviation Administration said Monday that Boeing will begin shipping long-shelf planes in the coming days. American Airlines plans to get one of its new planes as early as Wednesday. Production has been marred by several issues, including gaps between panels in the 787’s carbon composite skins. As such, Boeing has been blocked from delivering aircraft for most of the past two years, with about 120 stalled while Boeing attempts to fix its production process. Once shipments resume, Boeing will regain an important source of funding.

Japanese tech giant SoftBank posts $23 billion loss in quarter

TOKYO (AP) — Japanese technology company SoftBank Group Corp posted a $23 billion loss in the April-June quarter as investment values ​​fell amid global concerns about inflation and interest rates. His ¥3.16 trillion loss for SoftBank Group was a reversal from his ¥762 billion profit in the same period last year. The company said Monday that quarterly sales were up 6% from his. SoftBank’s portfolio has not been directly exposed to the war in Ukraine, but the company warned that global uncertainty, inflation and rising energy costs will hurt profitability. gave. President Masayoshi Son apologized and admitted that “things are really bad.”

Axios Media purchased by Cox Enterprises

NEW YORK (AP) — Axios Media has been acquired by Cox Enterprises. Cox Enterprises says it plans to expand its online news provider into new markets and expand its coverage. Axios reported on Monday that the deal is worth $525 million to him, citing sources. Cox, the conglomerate that owns media companies such as The Atlanta Journal-Constitution and Dayton Daily News, made its first investment in Axios last year. Axios co-founders and former Politico journalists Jim VandeHei, Mike Allen, and Roy Schwartz will continue to own shares in the company and lead editorial and day-to-day business decisions.

US Imposes Sanctions on Second Cryptocurrency Mixing Company

WASHINGTON (AP) — The Treasury Department has imposed sanctions on cryptocurrency mixer Tornado Cash, which has allegedly helped launder more than $7 billion worth of cryptocurrency since its inception in 2019. The Treasury Department’s Office of Foreign Assets Control said the Tornado Cash system was used. To launder over $96 million withdrawn from June Harmony Blockchain Bridge theft and August Nomad crypto company robbery. Mixing services combine various digital assets, including potentially illegally obtained funds and legally obtained funds, to allow fraudulent actors to mask the origin of stolen funds. increase.

First major trial of Lyme vaccine in 20 years begins

DUNCANVILLE, Pennsylvania (AP) — Researchers are seeking thousands of volunteers across the United States and Europe to test a potential vaccine against Lyme disease for the first time in 20 years. Developed by Pfizer and French biotech Valneva, the shot aims to stop ticks from spreading lime while they bite. Test the first dose, then test the booster dose a year later.

Southwest attendant breaks back on hard landing

DALLAS (AP) — A Southwest Airlines flight attendant suffered a compression fracture in her back during a hard landing in California last month. Federal safety investigators say the impact was so strong that flight attendants thought the plane had crashed. The Transportation Safety Board completed its investigation without revealing the cause of the hardlading. The Safety Commission said no other 141 people on board were injured in the July 1 incident at John Wayne Airport in Santa Ana, Calif. Airport runways are relatively short. The Safety Board has not released any documents from the investigation.

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