Ivermectin among generics that failed to help COVID-19 patients avoid hospitalization, large studies show

A new study found that three generic drugs — fluvoxamine, commonly prescribed to treat depression, the controversial antimalarial drug ivermectin and the diabetes pill metformin — failed to prevent the kind of severe COVID-19 that leads to emergency room visits or hospitalization. The study, published Wednesday in The New England Journal of Medicine, examined whether … Read more

Tencent looks at short video ads to boost revenue amid game slump

Tencent runs the ubiquitous Chinese messaging app WeChat. The company has a short video feature in the app and has started monetizing it through video ads in the feed. Tencent said such ads could become a “substantial” source of revenue in the future. Budrul Chukrut | Sopa images | Light rocket | Getty Images Tencent … Read more

Dodge unveils electric muscle car concept Charger Daytona SRT

Dodge Charger Daytona SRT concept car cleverness DETROIT — Dodge unveiled a new concept car on Wednesday, the Charger Daytona SRT, as a preview of its first all-electric muscle car, expected in 2024. The two-door coupe is the first look at what the upcoming vehicle, which will replace Dodge’s current gas-powered Challenger and Charger muscle … Read more

Chinese tech giant records first-ever revenue decline

Tencent posted its first-ever quarter-over-year revenue decline as tougher gaming regulations in China and a resurgence of Covid-19 in the world’s second-largest economy hit the tech giant. Here’s how Tencent fared in the second quarter, compared to Refinitiv’s consensus estimates: Revenue: 134.03 billion Chinese yuan ($19.78 billion) versus 134.6 billion yuan expected, down 3% year … Read more

Trump SPAC has another setback, delays earnings report

The social media app is developed by Trump Media and Technology Group (TMTG). Rafael Henrique | Light Rocket | Getty Images Digital World Acquisition Group, the special-purpose acquisition company that plans to merge with Trump Media and Technology Group and making it public, is asking for an extension of its earnings report, according to a … Read more

Germany: 1 dead, 9 injured after test car ends up in traffic

BERLIN — A test car with autonomous steering power ended up in oncoming traffic in Germany, killing one person and seriously injuring nine others, police said on Tuesday. A police spokesman in the southwestern city of Reutlingen said the electric BMW iX with five people on board, including a young child, veered out of its … Read more

Adam Neumann, the former CEO of WeWork, has a new real estate startup Flow, reportedly valued at more than $1 billion

CNN Business — Nearly three years after Adam Neumann stepped down as CEO of WeWork after failing to publicize the company, he would once again be in charge of a billion-dollar real estate startup. Andreessen Horowitz, the prominent venture capital firm known for its early investments in Twitter and Airbnb, has pumped about $350 million … Read more

Recession is spreading, warns Peter Boockvar

There may be no escaping the recession. According to investor Peter Boockvar, the latest housing and manufacturing reports suggest it is quickly spreading to other parts of the economy. “People are not sensitive enough to this economic slowdown and what it will mean for corporate profits and profit margins,” Bleakley Advisory Group’s chief investment officer … Read more

Voyager customers beg New York judge for money back after bankruptcy

Voyager said it has about $1.3 billion in crypto on its platform and more than $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank. Justin Sullivan | Getty Images During a five-hour Chapter 11 bankruptcy hearing earlier this month for crypto firm Voyager Digital, a client named Magnolia was the … Read more

Chinese tech giants share details of their algorithms with regulators

China has introduced rules governing how technology platforms use recommendation algorithms. It is part of Beijing’s wider drive to more closely regulate China’s domestic technology sector. Thomas White | Reuters Chinese tech giants shared details of their prized algorithms with the country’s regulators in an unprecedented move as Beijing looks to increase oversight of its … Read more