Business
Moderna, Merck report cancer vaccine breakthrough in melanoma trial
Moderna CEO Stéphane Bancel discusses positive cancer vaccine trial results and the impact GLP-1 drugs on ‘Mornings with Maria.’
A breakthrough personalized mRNA cancer vaccine that trains the immune system to target patients’ unique tumor mutations is showing promising results.
Five-year trial data show the risk of recurrence or death in melanoma patients was cut by about half when combined with Merck’s Keytruda, Moderna CEO Stéphane Bancel told FOX Business Wednesday.
“The results are really exciting,” Bancel told FOX Business’ “Mornings with Maria.”
“We saw a recurrence-free survival, meaning people [are] not dying from the disease or getting the disease coming back. At five years, we saw 50% improvement versus people getting Keytruda [alone], Merck’s blockbuster medicine, which has saved so many lives.
COMMON VITAMIN SHOWN TO SLASH SKIN CANCER RISK IN SOME GROUPS, STUDY SUGGESTS

An assistant conducts cancer vaccine research in the lab at the Moderna Inc. headquarters in Cambridge, Mass., on Tuesday, Mar. 26, 2024. (Adam Glanzman/Bloomberg via Getty Images)
“As you see, this is very meaningful for patients, and we are very excited because this year we should get the Phase 3 study result for that medicine and, hopefully, if it’s positive, we should be able to file very quickly with the FDA to get this to the American people to save them from their disease.”
Melanoma is considered the deadliest form of skin cancer. The American Cancer Society estimates about 8,500 Americans will die from the disease in 2026.
NUCLEAR WASTE BEING TRANSFORMED INTO PROMISING CANCER TREATMENT AT FORMER MANHATTAN PROJECT SITE

Keytruda is a prescription medicine used to treat a type of skin cancer called melanoma. (Merck )
Bancel said the individualized approach of intismeran autogene (formerly known as mRNA-4157) allows Moderna to design a custom treatment for each patient based on their specific tumor mutations, enabling the immune system to more precisely target cancer cells.
“If you and I were diagnosed the same day by the same doctor with skin cancer, Moderna would make a different medicine for your cancer and a different medicine for mine,” he told anchor Maria Bartiromo, adding the personalized vaccine can be manufactured in roughly 30 days.
Bancel said the treatment showed no added safety risks or side effects compared with Keytruda alone.
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FOX Business’ Geri Willis and ‘The Big Money Show’ panel discuss the application of artificial intelligence in the medical field and people flocking to the technology for health information.
“You see a huge benefit for the patients and the families with no downside of side effects, so that’s why it’s also so exciting,” he said.
Beyond melanoma, Moderna’s collaboration with Merck is expanding, with nine ongoing studies examining the personalized mRNA therapy in cancers such as kidney, bladder and gastric cancer, among others.
Business
China set to keep rates steady as Mideast war clouds inflation outlook

China set to keep rates steady as Mideast war clouds inflation outlook
Business
Aldi recalls frozen spinach bites over possible rodent hair contamination
FOX Business’ Ashley Webster reports on Atlanta’s first government-funded grocery store, where millions in taxpayer-backed loans are fueling a bold experiment to address food deserts.
Aldi is recalling a frozen food product from store shelves following a Food and Drug Administration (FDA) notice citing potential contamination with rodent hair.
The recall involves Simply Nature spinach bites sold at Aldi under the “Simply Nature” label, according to the FDA. The product may be contaminated with rodent hair.
Dr. Praeger’s Sensible Foods Inc. voluntarily initiated the recall, the agency said.
The recall has been classified as a Class II event, meaning the product may cause temporary or medically reversible health effects.
VOLKSWAGEN RECALLS NEARLY 50,000 VEHICLES OVER SERIOUS ENGINE FIRE RISK FROM FAULTY WIRING

The recall involves Simply Nature spinach bites. (Lindsey Nicholson/UCG/Universal Images Group via Getty Images)
The affected product is packaged in 12-ounce boxes of frozen spinach bites.
The recall is limited to certain lots distributed in Maryland and Pennsylvania.
The recall was initiated on Jan. 16, 2026, and remains ongoing, according to the FDA.

The recall is limited to certain lots distributed in Maryland and Pennsylvania. (Kevin Dietsch/Getty Images)
Affected products include lot number G25CF-02B with UPC 4099100247992. Approximately 7,894 units are impacted.
Consumers who have the affected product are advised not to eat it and can return it to the place of purchase for a refund.

Consumers who have the affected product are advised not to eat it. (Paul Weaver/SOPA Images/LightRocket via Getty Images)
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FOX Business has reached out to Dr. Praeger’s Sensible Foods Inc. and Aldi for comment.
Business
Middle East conflict deals a “double blow” to global aviation and tourism
Thailand’s ambitious tourism recovery plans for 2026 are facing significant challenges due to escalating tensions in the Middle East, which have triggered flight cancellations, route detours, and a sharp rise in travel costs.
As the conflict drives up fuel prices and disrupts transit hubs like Dubai, the Thai tourism industry projects a potential 10% to 15% decline in visitor arrivals and substantial revenue losses, prompting a strategic shift to focus on regional Asian markets to offset the drop in long-haul travelers.
Key Points
- Flight Disruptions and Rising Costs: Conflict-related detours have increased fuel consumption and operational expenses, leading Thai Airways and other carriers to raise ticket prices by 10% to 15%.
- Declining Visitor Numbers: Following military strikes in the Middle East, weekly foreign arrivals dropped by nearly 9% in early March, with an 18% decrease specifically among travelers from Europe and the Middle East.
- Economic Forecast: The Center for Economic and Business Forecasting estimates the tourism sector could lose between 9 billion and 29 billion baht ($895 million) this year, depending on the duration of the crisis.
- Impact on Local Business: Major players like Central Retail expect a decline in earnings and profits due to reduced tourist spending, while popular destinations like Phuket are particularly vulnerable to the loss of high-spending international visitors.
- Strategic Pivot to Asia: To mitigate risks, the Thai Hotels Association is urging the government to intensify promotional efforts in stable regional markets, specifically targeting affluent tourists from China, India, and Malaysia.
- Broader Economic Stakes: With tourism accounting for approximately 20% of Thailand’s GDP, the current slump threatens the country’s overall economic growth, which is already lagging behind regional peers like Malaysia and Vietnam.
The escalating conflict in the Middle East is causing a significant “double shock” to the global aviation and tourism sectors, driven by two key pressures:
- Economic Impact: Surging oil prices are driving up operational costs, which is expected to result in a significant increase in airline ticket prices.
- Structural Disruption: The war is destabilizing the major transit hubs and traffic flows between Europe, Asia, India, and Africa.
Thailand’s efforts to revive its tourism sector are encountering major challenges due to rising tensions in the Middle East, especially the conflict involving Iran. Experts predict a 10% to 15% drop in international arrivals, jeopardizing the country’s 2026 goal of attracting 36 million visitors.
Key industry players, specifically the major Gulf carriers—Emirates, Etihad, and Qatar Airways—are particularly vulnerable. Having built their business models on massive wide-body fleets and powerful connecting hubs, these airlines now face a severe reduction in activity. Key points regarding this shift include:
- Threat to Hub Dominance: The conflict challenges the long-standing dominance of Gulf states in long-haul aviation, a model that Saudi Arabia’s Riyadh Air also intended to follow.
- Shift to Regional Tourism: As long-haul transit becomes more complex and uncertain, European travelers are increasingly opting for regional destinations such as France, Spain, Italy, and Portugal.
- Irreplaceable Capacity: Experts warn that if the conflict persists, the resulting void in flight offerings will be nearly impossible for other carriers to fill, leading to long-term changes in international travel patterns.
The ripple effects of the Middle Eastern conflict are also impacting airline operations and travel sentiment, with many travelers opting to postpone or cancel trips due to safety concerns. Additionally, fluctuating oil prices driven by geopolitical instability are increasing travel costs, further discouraging international tourists. To mitigate these challenges, Thailand is ramping up efforts to attract visitors from less affected regions, such as Southeast Asia and Oceania, while promoting domestic tourism to sustain the sector.
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Labubu film is official with Paddington director at the helm
The film will combine live action and computer-generated animation and is in “early development”.
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Asia FX muted as Fed, Iran jitters boost dollar; yen steady after BOJ holds

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Steel Dynamics Stock Falls on Disappointing Update Ahead of Earnings
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Stock market holiday today for Gudi Padwa 2026: Are NSE & BSE open or closed for Gudi Padwa celebration? Check now
The country’s largest non-agricultural commodity exchange, the Multi Commodity Exchange of India (MCX) will also open at 9 am while the largest agricultural bourse, the National Commodity & Derivatives Exchange (NCDEX) will resume trading at 10 am.
Meanwhile, the currency market will remain shut today.
The equity markets were closed on March 3 for Holi and will be closed on two other occasions in this month. They will be closed on Thursday, March 26 for Shri Ram Navami and on Tuesday, March 31 for Shri Mahavir Jayanti.
Indian benchmark indices ended with sharp gains on Tuesday, recording their third successive positive closing. Action in auto, IT and consumer stocks lifted the mood with strong support from financials. The broader Nifty surged 196.65 points, or 0.83%, to close at 23,777.80, while the 30-share Sensex gained 567.99 points, or 0.83%, to settle at 76,704.13.
The fear index India VIX fell 5.5% in the previous session to settle at 18.72.
2026 holiday list
In the holiday calendar released last year, the exchanges had initially announced 15 trading holidays but later added January 15 as an additional holiday on account of the Mumbai BMC elections. After this, the domestic markets were closed on January 26 on account of a Republic Day.
The next holiday will fall on Friday, April 3 which will be a Good Friday. Markets will also be shut on Ambedkar Jayanti on April 14, Maharashtra Day on May 1 and Bakri Id on May 28.
The second half of the year includes Muharram on June 26, Ganesh Chaturthi on September 14 and Gandhi Jayanti on October 2. Dussehra falls on October 20, followed by Diwali Balipratipada on November 10 and Guru Nanak Jayanti on November 24. The final trading holiday of the year will be Christmas on December 25.
The small surprise in the circular is that there is no mention of holiday for Diwali as it is falling on a weekend (Sunday). The Muhurat Trading will be conducted on Sunday, November 08, 2026 and the timings of Muhurat Trading will be notified subsequently.
The exchanges may alter any of the above holidays, for which a separate circular shall be issued in advance.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Business
US national debt hits historic $39 trillion milestone for first time
Rep. Jodey Arrington, R-Texas, explains how Fed Chair pick Kevin Warsh will restore integrity in the Federal Reserve on The Bottom Line.
The U.S. national debt reached another historic milestone on Wednesday as it surpassed $39 trillion for the first time as the federal government’s persistent budget deficits send the debt soaring higher.
New data from the Treasury Department released on Wednesday showed that the gross national debt reached $39,016,762,910,245.14 as of March 17.
The $39 trillion milestone comes about five months after the national debt reached $38 trillion for the first time in late October 2025, which closely followed the $37 trillion milestone being surpassed just two months earlier in mid-August.
America’s debt has grown rapidly over the last decade as the population ages and federal spending on Social Security and Medicare rises. Another key driver of the surging debt is interest expenses incurred from servicing the debt, which have swelled due to higher interest rates meant to curb inflation as well as the growth in the debt itself.
US DEBT SET TO CRUSH WORLD WAR II RECORD AS ANNUAL DEFICITS EXPLODE TO $3T WITHIN DECADE
Michael A. Peterson, CEO of the nonpartisan Peter G. Peterson Foundation, told FOX Business that the latest national debt milestone is an opportunity for Americans to “recognize this alarming rate of growth and the significant financial burden we are putting on the next generation.”
“At the current growth rate, we will hit a staggering $40 trillion in national debt before this fall’s elections. Borrowing trillion after trillion at this rapid pace with no plan in place is the definition of unsustainable,” he explained.
Peterson noted that interest payments on the debt – the cost of servicing the debt the federal government has incurred – are the fastest growing line item in the federal budget and that interest costs are projected to total nearly $100 trillion over the next 30 years.
BUDGET DEFICIT HITS $1 TRILLION IN FIRST FIVE MONTHS OF FISCAL YEAR: CBO

The national debt surpassed $39 trillion for the first time in U.S. history this week. (Demetrius Freeman/The Washington Post via Getty Images / Getty Images)
He went on to say that with voters concerned about affordability, the debt’s cost and economic impact on Americans’ livelihoods should serve as cause for the issue to be a focal point of the debate surrounding this year’s elections.
“America faces complex and critical challenges, both at home and abroad, and putting our debt on a sustainable path will support a stronger, more secure future. The good news is that there are many solutions available, and they all should be put on the table for discussion this campaign season,” Peterson added.
The fiscal headwinds facing the federal government are expected to continue in the years ahead, as spending on programs like Social Security and Medicare rise along with debt service costs and cause projected budget deficits to widen.
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The nonpartisan Congressional Budget Office (CBO) released a 10-year budget and economic forecasts which estimated annual budget deficits will rise from their current level of about $1.9 trillion to $3.1 trillion a year a decade from now. That will push the gross national debt from its current level around $39 trillion to $63 trillion in 2036.
Debt held by the public as a share of gross domestic product (GDP), a measure economists prefer to use in comparing a nation’s debt to the size of its economy, will rise from about 100% this year to 108% of GDP in 2030 and further to 120% in 2036.
Those figures will break the record of 106% set in 1946 as the U.S. was in the process of demobilization after the end of World War II.
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A recent update from the CBO found that the federal government’s budget deficit for the current fiscal year 2026 topped $1 trillion in the first five months of the fiscal year despite an influx of tax revenue from tariffs, some of which were struck down by the Supreme Court as being illegal.
Some of those tariff revenues may be subject to refunds to the businesses and consumers who paid them, which could widen this year’s deficit if the revenue isn’t replaced.
Business
UK sets target to boost steel making and cut imports
Up to half of steel used in Britain should be made there, the government says, as it announces its steel strategy.
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