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July 7th - The Hong Kong Gold Central Clearing and Settlement System officially commenced trial operations. It is understood that the Hong Kong Financial Services and the Shanghai Gold Exchange launched the first phase of "physical connectivity" today, based on the cooperation agreement signed in January this year. HKG Clearing has applied to become an international member of the Shanghai Gold Exchange and opened a physical gold account. Market participants can choose to deposit their physical gold holdings into designated warehouses in Hong Kong on the Shanghai Gold Exchanges international board through this account. Through two-way transfers, market participants can participate in both the Shanghai Gold Exchanges on-exchange market and the Hong Kong over-the-counter market, facilitating the flow of physical gold between the HKG Clearing system and the Shanghai Gold Exchange system, effectively connecting the gold markets of Hong Kong and Shanghai.On July 7th, AMP Chief Economist Shane Oliver listed a list of risks facing the market over the next year, with one key risk focusing on the White House. He stated that after the upcoming midterm elections, US President Trump will be less constrained and may use this window of opportunity before the 2028 election to escalate overseas military operations, including renewed actions against Iran, and potentially involving Greenland and Cuba. Oliver added that this risk is particularly concerning if Trump loses control of both houses of Congress in November.Futures News, July 7th: OPEC+ decided to continue increasing production over the weekend, marking the first such decision in six months. Although the increase has been slowed in the short term due to the Straits dispute, Saudi Arabias willingness to increase production remains strong, leading to a predominantly bearish market sentiment and a continued weak oil price trend. Zhuochuang Information predicts that continued attention will be paid to the actual implementation of Saudi Arabias production increase. With the Straits issue gradually resolved and tanker transport efficiency improving, oil prices will face upward pressure, maintaining an overall bearish outlook.July 7th – The 2026 World Artificial Intelligence Conference and High-Level Meeting on Global Governance of Artificial Intelligence will be held in Shanghai from July 17th to 20th. Sun Xiaobo, Coordinator for Artificial Intelligence Affairs at the Ministry of Foreign Affairs, stated at a press conference in Shanghai on July 7th that this year, dozens of countries and international organizations will be invited to send high-level representatives to the conference to exchange in-depth views on cutting-edge and key issues concerning the development and governance of artificial intelligence during the High-Level Meeting on Global Governance of Artificial Intelligence. The Ministry of Foreign Affairs will also arrange a collective exhibition for delegations from various countries and international organizations, allowing them to experience firsthand Chinas achievements in the development and governance of artificial intelligence and to directly feel the vitality and dynamism of Shanghai as an international metropolis.Pan Gongsheng, Governor of the Peoples Bank of China: We will support more high-quality companies to list and issue bonds in Hong Kong, and the annual net investment quota for the Bond Connect "Southbound" program will be increased to 800 billion yuan.

Novavax Reduces Its Full-year Revenue Forecast Due to Sluggish Demand

Haiden Holmes

Nov 09, 2022 15:55

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Novavax (NASDAQ:NVAX) decreased its full-year revenue guidance for the second time in three months on Tuesday as a result of a global supply glut in COVID-19 vaccine and declining demand.


The company now expects its annual revenues to fall within the lower half of its earlier forecast range of $2 billion to $2.3 billion.


Novavax reduced its revenue forecast for the year in August, since the business did not expect to sell any additional COVID-19 vaccine in the United States this year.


Filip Dubovsky, the chief medical officer of Novavax, stated on a conference call with investors that the company is "moving forward" with the development of a vaccine against Omicron sub variants BQ.1 and BQ.1.1, which would also be formulated as a bivalent vaccination with another coronavirus strain.


Dubovsky noted that Novavax intends to get the vaccine ready by the second quarter of 2019 in time for an expected surge in cases in the southern hemisphere.


Novavax stated Tuesday morning that its COVID-19 vaccine has been modified for the Omicron BA.


In advanced study, one variant generated a substantial immune response at the fourth dose, meeting the strain swift's main purpose.


The shares of the Maryland-based firm surged by nearly 1 percent in afternoon trading after the company reported third-quarter revenues that were above analyst projections.


Last week, Pfizer Inc. (NYSE:PFE) increased its annual COVID vaccination sales projection. After the government ceases buying doses and sales move to the private sector, the company intends to almost double the price of the vaccine injection in the United States in order to combat declining sales.


Even though more than 640 million COVID-19 doses have been distributed in the United States, just 43,540 Novavax vaccines have been delivered as of November 2, according to the most current government figures.


In October, the U.S. Food and Drug Administration authorized the COVID-19 vaccine as a booster for adults, in addition to its existing clearance as a primary two-shot regimen for those 12 and older.

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