Pfizer Inc applied to U.S. health regulators on Friday for emergency use authorization (EUA) of its COVID-19 vaccine, the first such application in a major step toward providing protection against the new coronavirus.
U.S. Treasury Secretary Steven Mnuchin on Friday pushed back against criticism of his decision to de-fund several Federal Reserve coronavirus lending programs on Dec. 31, saying the next administration would still have an $800 billion "bazooka" to quell financial market distress.
Rising coronavirus infection rates and dwindling aid for the U.S. economy gave investors pause on Friday, sending stock prices and bond yields lower during U.S. trading.
U.S. Treasury Secretary Steven Mnuchin's decision to claw back funds from Federal Reserve coronavirus lending programs will not "hamstring" the next Treasury secretary because the move will leave nearly $600 billion in cash that could quickly aid workers and businesses, a senior Treasury official said on Friday.
The S&P 500 and the Dow edged lower on Friday as investors headed into the weekend grappling with disappointing fiscal stimulus news and uncertain efforts to combat a spiraling COVID-19 pandemic with vaccines.
The uneasy balance between the wildfire-like spread of the coronavirus in the United States and an economy that remains largely open may be tested in coming weeks if face mask mandates and other lighter-touch measures fail to control the crisis.
A Canadian court is expected to hear from additional police witnesses on Friday as the second week of witness testimony wraps up in the case to extradite the chief financial officer of Chinese telecoms giant Huawei to the United States.
The U.S. economy does not appear to be slowing down and a targeted coronavirus relief package is all that is warranted, White House economic adviser Larry Kudlow told Fox News on Friday.
Johnson & Johnson has been ordered by a New York state judge to pay $120 million in damages to a Brooklyn woman and her husband, after she blamed her cancer on asbestos exposure from using the company's baby powder.
House speaker Nancy Pelosi went after Treasury Secretary Steven Mnuchin on Friday for his decision to end some Federal Reserve COVID-19 emergency lending programs, a move also criticized by many Fed officials. Conway G. Gittens reports.
Wall Street's main indexes dipped on Friday as fears grew over fading stimulus and the blow to the economy from increasing coronavirus infections. Fred Katayama reports.
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