Wednesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.
Internet traffic surge
A broadband internet outage triggered by a surge in traffic hit a wide swath of the eastern U.S. Tuesday, causing headaches from work-from-home users of services such as Zoo and Google.
Complaints centered on Verizon, which acknowledged the difficulties.
It wasn’t a cyber security issues, according to people who spoke to Bloomberg.
Faster, Pfizer vaccines
Pfizer will be able to supply the U.S. with 200 million COVID-19 vaccine doses by the end of May, two months soon than previously expected.
The CEO of the company say there is a change in the vaccine’s label that allows healthcare providers to extract an additional dose from each vial.
President Biden also said the federal government will be increasing the number of doses shipped to states – from 8.6 million doses a week to 10 million a week for the next three weeks.
American malls
The value of America’s top tier malls is crumbling.
Real estate analytics frirm Green Street estimates the values have tumbled about 45% from 2016 levels.
The biggest U.S. mall owner, Simon Property Group, holds a substantial portion of the A-rated malls.
Home prices climb
The S & O Corelogic Case-shiller Index showed home prices climbed 9% in the past year, the most since 2014.
Historically low mortgage rates continued to fuel the booming housing market.