Business Leaders Say New Hong Kong Chief Must Open up City, Rebuild Its Image | World News

By Farah Master and Scott Murdoch HONG KONG (Reuters) – Business executives in Hong Kong have a wish list for its new leader: scrap COVID-19 quarantine rules, and promote the rule of law and transparent regulations to revive foreign investor confidence – before the territory becomes a hardship posting. Former security chief John Lee, who … Read more

Pfizer Says Tweaked COVID-19 Shots Boost Omicron Protection | Business News

By LAURAN NEERGAARD, AP Medical Writer Pfizer announced Saturday that tweaking its COVID-19 vaccine to better target the omicron variant is safe and works – just days before regulators debate whether to offer Americans updated booster shots this fall. The vaccines currently used in the US still offer strong protection against severe COVID-19 disease and … Read more

Macao shuts most businesses as Covid cases surge, but casinos stay open

CNN – Macao, the world’s biggest gambling hub, began its second day of mass Covid-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend. But while most businesses have shut down, casinos remain open. The testing of Macao’s roughly 600,000 residents is expected to end on Tuesday. The Chinese-ruled former … Read more

CDC Advisers Recommend COVID-19 Shots for Children Under 5 | Business News

By MIKE STOBBE, AP Medical Writer NEW YORK (AP) – US health advisers on Saturday recommended COVID-19 vaccines for infants, toddlers and preschoolers – the last group without the shots. The advisers to the Centers for Disease Control and Prevention unanimously decided that coronavirus vaccines should be opened to children as young as 6 months. … Read more

Congress Examines Fraud in Pandemic Aid for Small Businesses | Business News

By JENNIFER McDERMOTT and GEOFF MULVIHILL, Associated Press A congressional panel Tuesday will examine payouts under a federal coronavirus pandemic aid program intended to help small businesses weather the COVID-19 outbreak amid revelations that as much as 20% of the money may have been awarded to fraudsters. The problems in the COVID-19 Economic Injury Disaster … Read more

China’s economy is looking brighter but it’s not in the clear yet

Hong Kong CNN Business – From big gains in tech stocks to robust trade data, China has had plenty of good news on the economic front this week. The positive developments come after the world’s second largest economy was battered by widespread Covid lockdowns, a sweeping crackdown on tech companies and a real estate slump. … Read more

House Dems Propose $ 28 Million to Address Formula Shortage | Business News

By KEVIN FREKING, Associated Press WASHINGTON (AP) – House Democrats unveiled a $ 28 million emergency spending bill Tuesday to address the shortage of infant formula in the United States. Rep. Rosa DeLauro, the Democratic chair of the House Appropriations Committee, said the bill would help the Food and Drug Administration take important steps to … Read more

China’s economy is going backwards

Hong Kong CNN Business – China’s gigantic services sector just contracted at the second sharpest pace on record as Covid lockdowns hit businesses hard. The Caixin purchasing managers’ index, a closely-watched indicator for assessing the state of the economy, plummeted to 36.2 in April from 42 in March, according to a survey released by IHS … Read more