Economic News
BioNTech chief expects to file for approval of Covid-19 vaccine towards end 2020
The head of German biotechnology outfit BioNTech thinks that his company will be file for regulatory approval of its Covid-19 vaccine before the end of 2020.
Gilead Sciences's Remdesivir may cut Covid-19 risk of death by 62%
Gilead Sciences's Remdesivir antiviral treatment for the novel coronavirus may cut the risk of death by nearly two-thirds.
Drop in food costs weighs on US producer prices in June
Producer prices in the US continued retreating last month amid sharp drops in the cost of food and in retailers' margins.
US's Biden calls for end of era of 'shareholder capitalism'
The Democratic Party's presumptive nominee vowed on Thursday to "put an end" to an era "shareholder capitalism", saying that the days of Amazon not paying federal taxes were numbered.
IEA increases 2020 oil demand forecast but maintains Covid-19 concerns
The International Energy Agency (IEA) raised its 2020 oil demand forecast on Friday but warned the spread of Covid-19 was still a concern and could change the outlook.
IMF calls for 'equity-like' government support for firms
The International Monetary Fund chief economist Gita Gopinath called for governments to start “equity-like” support for firms affected by the coronavirus.
Moody's says UK to take worst hit of developed economies
The UK's economy will shrink by more than 10% this year - the worst impact among major economies from the Covid-19 crisis, Moody's ratings agency predicted.
High street shows green shoots of recovery despite slide in footfall
Shopping habits started to show tentative signs of recovery in June as lockdown measures were eased, industry data showed on Friday.
Job losses mount after Sunak's summer statement
Less than 24 hours after Rishi Sunak unveiled his "plan for jobs", Boots, John Lewis and Burger King announced about 7,000 potential job cuts, raising fears about surging unemployment as the Covid-19 crisis takes its extended toll.
US jobless claims fall more than expected
Weekly jobless claims in the US fell more than expected last week, according to figures released on Thursday.
China industrial deflation eases in June
China's manufacturing sector reported tentative signs of recovery in June, despite the ongoing impact of the Covid-19 pandemic on demand, official data showed on Thursday.
Sunak to focus on budget deficit after post-Covid outlook clears
UK Finance Minister Rishi Sunak said he would focus on restoring public finances and the deficit once he had more clarity around the post-Covid-19 economic recovery.
German trade surplus improves but progress slow
Germany's trade surplus improved as expected in May but exports remained well below pre-Covid-19 levels as large trading partners continued with restrictions on economic activity.
Property market picks up but outlook weak, Rics says
The UK housing market showed signs of recovery in June but the Chancellor's stamp duty holiday will be needed to support transactions if the revival runs out of steam, the Royal Institution of Chartered Surveyors said.
Chancellor unveils £30bn plan to boost UK economy
Rishi Sunak has announced a series of measures aimed at boosting the UK economy as it emerges from lockdown, including a six-month job retention bonus for furloughed workers and temporarily slashing VAT on food and accommodation.
Gold hits 2011 highs above $1,800/oz.
Gold prices have broken fresh records, despite a recent rally in equities, amid ongoing concerns about the long-term economic impact of the Covid-19 pandemic and the prospect of rising inflation.
EU court reduces Infineon fine to €76.87m
Europe’s second top court cut German company Infineon Technologies antitrust fine on Wednesday from €82. 78m to €76. 87m.
Rishi Sunak plans job creation scheme for UK youths
Rishi Sunak will announce a new £2bn job creation scheme for under-25s on Wednesday as a way to support the younger generations through the unemployment surge due to the coronavirus pandemic.
Global experts to discuss challenge of 'fake news' at 2020 Cyber Polygon
Leading experts will meet to discuss the challenges posed by increasingly sophisticated 'fake news' at the 2020 edition of Cyber Polygon.
UK imposes sanctions on Russians and Saudis over 'blood money' laundering
Britain imposed sanctions on 25 Russians and 20 Saudis on Monday as part of post-Brexit measures that were aimed at cracking down on the laundering of “blood money”.
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