Shares of Pfizer fell Wednesday after the drugmaker forecast 2024 revenue and profit below Wall Street’s expectations, as it sees weak demand for its once-blockbuster Covid products.  Pfizer also raised the target of its sweeping cost-cutting plan by $500 million, bringing the anticipated total to $4 billion. The company expects …

SpaceX’s next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company’s Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, on Nov. 18, 2023. Joe Skipper | Reuters The valuation of Elon Musk’s SpaceX hit $180 billion based on an ongoing secondary share sale, CNBC confirmed …

Virginia Republican Gov. Glenn Youngkin on Wednesday said he would support Donald Trump if the former president is the party’s 2024 presidential nominee. He stopped short of endorsing Trump in the GOP primary, where Trump leads the field by more than 45 points. “Listen, he and I have different styles, …

Thomas Barwick | Stone | Getty Images Inflation has been falling gradually across the U.S. economy. This process, known as disinflation, means prices for consumer goods and services are rising but at a slower pace than they had been. However, inflation has actually turned negative in some sectors, like energy. …

The NHL’s Washington Capitals and NBA’s Washington Wizards are slated to move to Alexandria, Virginia, as part of a $2 billion entertainment complex effort, the state’s Gov. Glenn Youngkin announced Wednesday. The development, about 8 miles south of Washington, D.C., will house the new global headquarters for Monumental Sports & …

Wholesale prices were flat in November, providing a leading indicator that inflation is easing, the Labor Department reported Wednesday. The producer price index, which measures a broad range of prices on final demand items, was unchanged for the month, following a 0.4% decrease in October but less than the Dow …

Members of Sri Lanka’s National People’s Power Party shout slogans as they protest against the government’s debt restructuring plan affecting the income of the pension funds, in Colombo on July 31, 2023. Ishara S. Kodikara | AFP | Getty Images Developing countries paid a record $443.5 billion in 2022 to …

U.S. President Joe Biden meets with Cyril Ramaphosa, South Africa’s president, not pictured, in the Oval Office of the White House in Washington, D.C., US, on Friday, Sept. 16, 2022. Bloomberg | Bloomberg | Getty Images A landmark agreement to shift away from fossil fuels thrusts U.S. policy into the …

German Chancellor Olaf Scholz (SPD), Economy and Climate Action Vice Chancellor Robert Habeck (Greens) and Finance Minister Christian Lindner (FDP) listen during the Budgetary debate in the plenary hall of the German Lower house of Parliament or Bundestag on November 28, 2023 in Berlin, Germany. Michele Tantussi | Getty Images …

Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images FRANKFURT — The European Central Bank meets this week with investors closely monitoring to see when the Frankfurt institution might start to cut interest rates. It will be too early to declare victory in the …