MEDICINES

BioNTech announces it will sell more than $ 15 billion in vaccines this year

BioNTech has increased its COVID-19 vaccine sales forecast to 12.4 billion euros ($ 15.1 billion) for this year, setting a new target for the shot sold with Pfizer as countries increase orders for stimulate their vaccination campaigns. The partners have signed contracts for around 1.8 billion doses this year and have started to close deals for 2022 and beyond, the Mainz, Germany-based company said on Monday. BioNTech previously predicted 9.8 billion euros ($ 11.9 billion) in 2021 in revenue from shooting, its first product to market. As demand grows for their messenger RNA vaccines, Pfizer and BioNTech have increased their production targets, increasing the potential revenue both partners are expected to earn as well. Pfizer said last week that the supply agreements would generate $ 26 billion in sales this year – a total shared among drugmakers. BioNTech also derives revenue from direct sales. – BLOOMBERG NEWS

FINANCIAL SERVICES

PayPal seeks to expand beyond online payments

PayPal looks at life beyond the payment button. In the coming months, the company plans to launch a host of new services, which could include high-yield savings accounts, check cashing services, and equity investing capabilities. Everything is done in the hope that PayPal will become the next “super app” in the world, similar to Alipay or WeChat in China, Paytm in India or Grab in Singapore. The stakes are high: If PayPal is successful, the business could become a bigger part of the lives of American consumers than Amazon, Google or Facebook. But in the United States, there is no shortage of banking giants and tech companies that have tried and failed to accomplish what PayPal wants to do. – BLOOMBERG NEWS

MARIJUANA

Fancy bongs are all the rage as the legal pot market grows

Cannabis accessories get the luxe treatment, from $ 800 of artist-designed bongs to custom $ 600 table lighters and $ 300 vanity trays. These premium products are spreading as the stigma surrounding marijuana dissipates and its users seek to show off cannabis cultivation. The items are meant to be proudly displayed and serve as home decor and art, rather than hidden paraphernalia when the business arrives. There are now luxury versions of virtually any cannabis related product for those who can afford it. – BLOOMBERG NEWS

AUTOMOTIVE

NHTSA Investigates Complaints About Honda Steering Problems

The U.S. government’s auto safety agency is investigating multiple complaints about steering failures that could affect more than 1.1 million Honda Accord sedans. In documents released Monday, the National Highway Traffic Safety Administration said it received 31 complaints about the problem, and Honda has 77 more. Owners complained about loss of steering control and cars deviating from their intended course. Two accidents and two injuries were reported. The probe covers agreements from model years 2013 to 2015. – ASSOCIATED PRESS

CRYPTOCURRENCE

Musk’s SNL Comments Drops Dogecoin

Elon Musk’s most impactful joke on “ Saturday Night Live ” may well have been on Dogecoin holders. The cryptocurrency, which has seen tremendous volatility this year, fell 30% after Tesla chief and self-proclaimed ‘Dogefather’ hosted the comedy show – jokingly calling it a ‘commotion’ ‘during a segment on’ ‘Weekend Update’ ‘, SNL’s satirical view of the news. Dogecoin had surged last week – topping 70 cents for the first time – which Edward Moya, senior market analyst at currency data and analysis firm Oanda, attributed to the buzz surrounding Musk’s hosting gig . Yet even with the recent fall, Dogecoin is still up 10,000% in 2021. It is now among the top four most valuable cryptocurrencies by market capitalization, collectively worth more than corporate giants like Ford, Kraft. Heinz and Marriott, about $ 65 billion. – WASHINGTON POST

TRADEMARKS

Australian company loses bid to drop US brand on “Ugg” word

An Australian firm’s long-running attempt to remove an American trademark from the word “Ugg” suffered another blow after an American appeals court dismissed its argument, in a loss that could have serious consequences for Australian manufacturers of sheepskin boots. This is the latest stage in a high-stakes five-year legal battle between the brand’s owner in the United States, Deckers Outdoor Corp., and a company called Australian Leather. Australian Leather owner Eddie Oygur said after the court ruling on Friday that he would take the case to the United States Supreme Court. In Australia, the word is used as a catch-all term for fleece-lined sheepskin boots made since the 1930s. It was registered as a trademark in the United States in the 1980s by Australian entrepreneur Brian Smith. Deckers said he bought Smith’s name fairly, registered the “UGG Australia” trademark in the United States in 1995 and that American consumers knew it as a brand name rather than a generic term. Deckers owns the brand in more than 130 countries, which means Australians are largely barred from selling their boots internationally. – NEW YORK TIMES

MEDIA

Teen Vogue has a new editor – again

The last person to be hired as editor-in-chief of Teen Vogue resigned ahead of her start date. Today, Condé Nast’s large online post is trying again, with the announcement on Monday that Versha Sharma, editor-in-chief of the NowThis news site, will be its next editor-in-chief. Sharma, 34, was in charge of news and cultural coverage at NowThis, a site owned by Group Nine Media, the publisher of Thrillist, The Dodo, Seeker and PopSugar. She was part of a team that received an Edward R. Murrow Award in 2018 for a documentary on the aftermath of Hurricane Maria in Puerto Rico. She was appointed to the post almost two months after the resignation of Alexi McCammond, a former Axios reporter, after more than 20 Teen Vogue staff publicly condemned the tweets she posted a decade over. early. McCammond’s old tweets included derogatory stereotypes about Asians and slurs against gay people. She apologized for the tweets in 2019 and deleted them. She apologized again after their redesign in March and their resignation from the Teen Vogue job ahead of her scheduled first day. – NEW YORK TIMES