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Israel signs deal with Pfizer for potential COVID-19 vaccine

Israel signed a deal with Pfizer Inc on Friday to receive 8 million doses of the drugmaker’s potential COVID-19 vaccine, Prime Minister Benjamin Netanyahu said, enough to cover close to half of Israel’s population. Pfizer and German partner BioNTech SE confirmed a deal was forthcoming in a statement on Thursday but did not disclose financial details. The agreement still requires approval by the U.S. Food and Drug Administration (FDA) and Israel’s health ministry, Israeli Health Minister Yuli Edelstein said. …read more […]

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China drafts rules to govern its booming livestreaming sales industry

China’s internet watchdog has drafted rules for the first time to regulate the country’s livestreaming marketing industry, stepping up scrutiny on e-commerce marketplaces belonging to the likes of tech giant Alibaba Group and JD.Com. Last week China published draft regulations aimed at preventing anti-monopolistic behaviour by internet platforms which wiped hundreds of billions of dollars off the value of some tech giants including Alibaba and Tencent. Livestreaming marketing has seen its popularity surge in the last two years among brands like L’Oreal, Nike, Dyson and online shoppers, and most Chinese e-commerce platforms now offer the option to purchase …read more […]

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Brothers Build $22 Billion Fortune on Hope for Covid-19 Vaccine

(Bloomberg) — The stock rally sparked by Pfizer Inc.’s promising Covid-19 vaccine trial results boosted many investors’ fortunes, but none so dramatically as a pair of German brothers.Andreas and Thomas Struengmann have collectively added about $8 billion to their wealth this year thanks to their stake in BioNTech SE, the German firm that’s developing the vaccine with Pfizer. BioNTech’s American depositary receipts surged this week after the U.S. drug giant reported the shot they’re working on prevented 90% of symptomatic infections in tens of thousands of volunteers.At $22 billion, the twins have one of the world’s biggest health-care fortunes, according …read more […]

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Exclusive: Indonesia to woo Tesla investment in push to become battery superpower

Indonesian President Joko Widodo said he will send a high-level team next week to meet with top executives of U.S. automaker Tesla as the Southeast Asian country aims to become the world’s biggest producer of electric vehicle batteries. The president, known by his popular name Jokowi, told Reuters in an interview on Friday the trip will be part of Indonesia’s promotion of its new, so-called “Omnibus” Job Creation law, which simplifies doing business in Indonesia. “Next week we will send a large team to America and Japan, to promote the Omnibus,” Jokowi said. …read more […]

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China’s Oil Giant Eyes New Supertankers to Shrink Fuel Glut

(Bloomberg) — China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil.Unipec, the trading arm of China’s biggest oil refiner Sinopec Group, hired a newly-built very large crude carrier to load low-sulfur diesel in Asia for delivery to Europe. The vessel ordinarily would have sailed empty from its shipyard in Northeast Asia to the Middle East or West Africa, where it would pick up crude for the first time for delivery to customers across the globe.While supertankers are built to transport dirty fuels such …read more […]

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Europe Stocks Dip as Virus Cases Soar; Bonds Gain: Markets Wrap

(Bloomberg) — Stocks in Europe and Asia dipped while U.S. equity futures edged higher as investors assessed the prospects for additional government stimulus to help economies battered by soaring coronavirus cases. Treasuries added to gains.The Stoxx Europe 600 Index headed for a second day of losses after rallying earlier this week, with tech shares outperforming once again thanks to their perceived haven status. Equities dipped in Hong Kong, Australia and China. S&P 500 futures fluctuated before turning higher after the benchmark fell 1% as New York prepared for the possibility of school closures and Chicago urged residents to stay at …read more […]

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Oil Drops After Jump in U.S. Stockpiles and Gloomy IEA Forecast

(Bloomberg) — Oil fell for a second day — dropping below $41 a barrel in New York — after a surprise jump in U.S. crude stockpiles and a gloomy forecast from the International Energy Agency weighed on the demand outlook.American crude inventories rose by 4.28 million barrels, climbing for a second week in three, according to data from the Energy Information Administration on Thursday. The IEA cut its global oil demand projections for this quarter by 1.2 million barrels a day in its latest monthly report.Oil is still up about 9% this week, however, after news of a potential Covid-19 …read more […]