Covid alliance raises $2bn to distribute vaccine to poor countries November 13, 2020 An alliance backed by the World Health Organization (WHO) has exceeded its target of raising more than $2bn (£1.5bn) to buy and distribute 1bn Covid-19 vaccines for poorer countries. The Gavi Covax alliance today announced it will buy an initial 1bn doses for 92 eligible countries which would otherwise not be able to afford it. [...]
Coronavirus: Grant Shapps rules out Brexit disruption to vaccine delivery November 13, 2020 Grant Shapps has ruled out potential disruption to deliveries of a coronavirus vaccine by post-Brexit border delays. The transport secretary today said there is a “back-up to the back-up” to prevent any hiccups, amid concerns delivery of the Belgium-manufactured Pfizer jab could be jeopardised if the UK fails to secure a trade deal with the [...]
China congratulates Joe Biden on presidency after week-long silence November 13, 2020 China’s foreign ministry has broken its week-long silence to congratulate US President-elect Joe Biden and vice president Kamala Harris on their White House victory. “We respect the choice of the American people. We extend congratulations to Mr. Biden and Ms. Harris,” foreign ministry spokesman Wang Wenbin said at a regular daily briefing. In a faint [...]
Exclusive: Government’s widely-mocked careers quiz cost UK taxpayer £1.7m November 12, 2020 The government’s much-mocked jobs quiz that suggested people retrain as boxers, cinema projectionists and lock keepers cost the UK taxpayer almost £1.7m, City A.M. can reveal. The Discover Your Skills and Careers tool launched last year, but saw renewed interest last month after chancellor Rishi Sunak warned that Britain’s jobs market needed to “adapt and [...]
Chancellor sets Budget for March 2021 November 12, 2020 The chancellor will announce a new government Budget in March as part of plans to hike income tax, the Treasury’s permanent secretary has announced. Speaking at a Public Accounts Committee meeting on the government’s furlough scheme this morning, Tom Scholar said: “There will be a Budget in March. We know a lot will change between [...]
Croydon council goes bust and freezes spending as Covid costs bite November 12, 2020 Croydon council has become the first London borough to buckle under the weight of the pandemic, as it today filed a notice declaring it virtually “bankrupt”. In a letter to councillors seen by City A.M, Croydon’s finance director Lisa Taylor outlined “serious issues” facing the borough, including a potential budget shortfall of around £66m this [...]
Pfizer boss sold $5.6m in stocks on day of vaccine announcement November 12, 2020 Pfizer’s chief executive sold shares worth more than $5.6m (£4.2m) on the same day the US drugmaker made the breakthrough announcement that its coronavirus vaccine was 90 per cent effective. Albert Bourla sold more than 130,000 shares on Monday as part of scheduled plans to offload some of his stake in Pfizer, according to a [...]
Rishi Sunak warns second lockdown will have ‘significant’ impact on UK economy November 12, 2020 Chancellor Rishi Sunak has warned that England’s second nationwide lockdown will have a “significant impact on the economy”, as today’s record GDP figures laid the ground for a steep slump over the winter. “Obviously restrictions of this nature do have a significant impact on the economy. We’ve already seen that when we’ve done this over [...]
Burberry shares climb as group clings onto profit during pandemic November 12, 2020 Burberry shares climbed almost four per cent at market open this morning as the luxury retailer announced it had clung onto profit during the coronavirus crisis. The results The pandemic dealt a heavy blow for Burberry, with revenue sinking 31 per cent in the 26 weeks to 26 September, as the fashion retailer was forced [...]
Moderna shares soar on coronavirus vaccine hopes November 11, 2020 Shares in biotech firm Moderna jumped almost nine per cent this afternoon, after Anthony Fauci said the company’s coronavirus vaccine could prove as successful as Pfizer’s. US pharmaceuticals firm Moderna is set to publish late-stage trial results of its Covid vaccine as soon as next week. Fauci, the leading infectious disease expert in the US, [...]
