February 11, 2021 - Biz in 60

Business in 60 Seconds

US weekly unemployment claims dip slightly to 793,000 The number of Americans filing for unemployment benefits has fallen slightly as authorities begin easing coronavirus restrictions. Another 793,000 people lodged jobless claims last week, down 19,000 from the week before. But the number is still above the 665,000 peak recorded during the recession. Malaysia's economy shrinks 5.6% in 2020 Malaysia's economy shrank at a faster-than-expected rate in the fourth quarter, as a fresh wave of COVID-19 hit domestic consumption. GDP contracted 3-point-4 percent from a year earlier, falling for a third straight quarter. For the full year, Malaysia's economy shrank 5-point-6 percent, marking its worst performance since the Asian financial crisis of 1997-to 98. AstraZeneca reports 10% rise in 2020 sales to $26.6B And AstraZeneca has reported a 10 percent rise in sales for 2020, beating analysts' expectations. Total revenue came in at 26-point-6 billion dollars for the year, thanks to strong sales of its cancer treatments. The Anglo-Swedish drugmaker is also expecting a double-digit revenue growth for 2021.