Corporate profits hit a record $2 trillion in the second quarter. Meanwhile, many workers are unable to afford a $400 emergency payment. A new report out Monday shows that 59% of U.S. consumers were living paycheck to paycheck last month and many were unable to afford an emergency expense of $400—all while the country’s corporations enjoy […]
“In the Covid-19 pandemic, world leaders have allowed pharmaceutical companies to place extraordinary profits ahead of saving lives,” lamented one campaigner As Moderna reported higher-than-expected revenue driven entirely by sales of its publicly funded Covid-19 vaccine, health equity campaigners on Wednesday renewed calls for pharmaceutical companies to waive patent protections in order to share their lifesaving […]
“It’s time for the president to demand that Congress pass a windfall profits tax on Big Oil and use the revenue to provide rebates to consumers NOW!” wrote Sen. Bernie Sanders. ExxonMobil indicated in a securities filing submitted just ahead of the holiday weekend that its profits doubled in the second quarter of 2022 compared to the first […]
“We take on the risk. They take away the profits,” said one vaccine equity advocate. The Massachusetts-based pharmaceutical giant Moderna disclosed in a financial filing this week that it received another $300 million in U.S. government funding for coronavirus vaccine development in March even as the company hoarded its technology from the world—and attempted to undermine a critical […]