Daily Archive: November 5, 2020

AstraZeneca-Oxford COVID vaccine on track for year end, CEO Pascal Soriot says

AstraZeneca Plc’s coronavirus shot could be ready for large-scale vaccinations as early as this year, Chief Executive Officer Pascal Soriot said, dismissing reports of delays and production snags.

The U.K. drugmaker is poised to unveil vaccine test results by year-end even after trials were slightly delayed over the summer as infection rates slowed in the northern hemisphere. A recent resurgence has allowed scientists to gather the clinical data they need, according to Soriot. Astra and the University of Oxford are keeping the vaccine in a frozen bulk state to preserve its shelf life while they await final test results.

“At the end of the day, we don’t yet know if the vaccine works,” Soriot said in a Bloomberg Television interview, adding that many questions remain, such as whether it will show results for everyone and for how long. “We would hope that large-scale vaccinations would be possible starting in January … Read More

GM profit beat driven by strength in trucks, SUVs and China rebound By Reuters

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© Reuters. FILE PHOTO: Logo of General Motors is pictured at its plant in Silao

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By Paul Lienert and Ben Klayman

DETROIT (Reuters) – General Motors Co (N:) reported a stronger-than-expected quarterly profit on Thursday, driven by renewed demand for trucks and SUVs in the United States and a rebound in China sales, sending its shares higher in premarket trading.

The company also said it would generate cash flow of $7 billion to $9 billion during the second half of the year, as sales in its two largest markets recovered more quickly than anticipated during a global pandemic.

In a statement, Chief Executive Mary Barra said the company was “well positioned to meet rising customer demand.”

GM’s U.S. sales in the third quarter fell 10% due to the COVID-19 pandemic, but results improved each month. In China, GM’s sales in the quarter rose 12%, its first quarterly sales

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