Merck Says Antiviral Pill for COVID-19 Is Effective, Plans to File for Emergency Authorization

The antiviral, molnupiravir, cut the risk of hospitalization or death in half for adults who were deemed at risk but not hospitalized, according to a planned interim analysis of the trial.

Jobless Claims Rise Above Expectations, Sapping Confidence in Labor Market Recovery

First-time filings for unemployment insurance-a proxy for layoffs-came in at 362,000 for the week ending on Sept. 25, an increase of 11,000 from the previous week, the Labor Department said in a statement.

Mortgage Application Rates Down as Interest Rates Rise to Highest Levels Since July

Mortgage application rates in the United States fell by 1.1 percent last week driven by higher interest rate, according to the Mortgage Bankers Association (MBA) Composite Index.

Facebook Pauses Plans for Instagram for Children

Adam Mosseri, head of Instagram, said in a blog post on Monday that the company still believes building the version for children “is the right thing to do” but it is “pausing the work” to consult with parents, experts, and policymakers.