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latest news

• Germany Indicates that from next month, travel warnings will be issued to countries with fewer than 200 coronavirus cases per 100,000 people in 7 days

• New infections in the UK As the delta variant of the coronavirus continues to spread, it rose by 13% in the week ending June 5

• Russia As a result of its efforts to control inflation, its key interest rate was raised to 5.5% and it plans to raise interest rates further. Inflation is at its highest level in five years.

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As we reported today, the global nature of the coronavirus provides us with a rare global opportunity Vaccine manufacturer New and old. Or as one scholar said: “When you make a product that basically everyone in the world wants or needs, you will make a lot of money.”

The current leaders-Pfizer, Moderna, AstraZeneca, and Johnson & Johnson-will join rivals from large pharmaceutical companies such as Sanofi and GlaxoSmithKline, as well as a wave of start-ups such as Novavax, CureVac and Valneva.

Although new entrants face considerable obstacles to coping with emerging mutations, the World Health Organization yesterday stepped up its warnings against the virus. ?Strain Sweeping Europe-and the possibility that the public may prefer to use existing jabs, the size of the market makes it worthwhile. In terms of revenue, Novavax is even expected to surpass Moderna next year to become the second largest vaccine manufacturer with estimated sales of 17.9 billion US dollars.

The demand is urgent.As FT Editorial Board It was pointed out that the primary task of the G7 leaders meeting held today at the so-called “vaccine summit” in the UK must be to narrow the “bleak” gap between rich and poor countries. Nearly 45% of the population in the G7 has had at least one jab, compared to about 2% in Africa.

The British “Financial Times” stated that the vaccine disagreement goes beyond what the World Health Organization considers a “catastrophic moral failure”: this is also an economic stupidity that may hinder global recovery.

Although today was ridiculed by pressure groups as “drop in the ocean”, G7 members want their promise Donate 1 billion doses of vaccine To poorer countries, including 500m from the United States, At least it will help to get rid of some criticism of the hoarding of goods in rich countries. They also hope that this move will help counter the “vaccine diplomacy” of China and Russia, which are quickly selling vaccines to developing countries.

Global economy

This British economy The 2.3% increase in April was better than expected, thanks to Retail spending and school reopening, This pattern should be repeated in the May data, including the return of indoor hospitality. Separate data shows that trade has improved as the impact of the coronavirus and Brexit diminishes.

U.S. consumer prices Compared with last year, May rose by 3.8%—— The biggest increase in the past 13 yearsSome people believe that economic growth indicates that the economy is overheating, but White House and Federal Reserve officials believe that current growth is only a temporary phenomenon.This European Central Bank, At the same time, improved Inflation forecast Even if it puts too much emphasis on the increase will be short-lived. Catch up with our series: Inflation-a new era?

Thai The government hopes that vaccination can help the country reopen its tourism industry and repair some of the economic damage caused by the pandemic.But as our Big reading Explain that what some people call a botched launch is an extremely politically sensitive issue: the vaccine is produced by a company owned by the country’s monarch and head of state.

business

U.S. court documents show carnival Boss Arnold Donald discussed The danger of coronavirus infection At the beginning of last year on the company’s ship, but allowed to continue sailing. According to the Miami Herald, there have been more than 2,000 Covid-19 cases related to Carnival cruise ships and 80 deaths.

British “Financial Times” revealed Goldman Sachs’ U.S. employees must Disclose their vaccination status Before it plans to return to the office next week, it is different from its competitor, Wall Street Bank, which has voluntary procedures. The US Equal Employment Opportunity Commission stated in December that if employees refuse to be vaccinated, they may be barred from entering the workplace, except for religious and medical exemptions.

Major UK retailers including Frasers and Boots are in a debt war with landlords Unpaid rent During the epidemic.Supermarket chain MorrisonAt the same time, becoming the biggest British victim of shareholders to date Dislike of boss pay Companies that are believed to perform well during the pandemic.

market

Global stocks Hit another Historical high As people’s confidence in a strong economic recovery has strengthened. However, the growth rate is slowing as investors wait for a signal from the Federal Reserve’s meeting next week about when it may begin to cut its emergency bond purchase program.

The International Energy Agency says Oil demand will Pass the pre-Covid level By the end of 2022, although the recovery will be uneven, and may be affected by the slow introduction of vaccines. Consumption will decrease by 8.6 million barrels per day in 2020, but it is expected to increase by 5.4 mb/d this year.

This The bond market’s reaction The jump to yesterday U.S. inflation It is a unique “meh”, Robert Armstrong wrote in his Unhedged newsletter. He also tends to think that growth will be temporary, but said that we can’t relax yet. ..

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necessity

Millions of British workers have seen their Retirement plan Was ruined by the epidemic. The FT Money team studied the challenges faced by people in their 50s and early 60s. They have little time to recoup the savings they spent in the pandemic and may have difficulty Refinancing pension tank.

Express your opinion

GG comments U.S. and British Airways bosses call for transatlantic reopening:

I am one of the hundreds of thousands of British and European citizens residing in the US on multi-year work visas who have been in the US since March 2020. Americans who are vaccinated can fly to Europe and return. Permanent resident immigrants (green card holders) are also available. But if we do this, the United States will not let us go back. We have our jobs, families and schools here, pay taxes in this country, and are vaccinated like other Americans, but we still can’t see the end.

This situation has no obvious logic in epidemic control. Maybe, just maybe, this is one of many unfortunate and unintended consequences caused by special circumstances. But over time, it feels like over-administration.

Final thoughts

After the coronavirus was delayed for a year, Euro 2020 football event Start tonight. An organizer said that the competition may not change the outcome of the pandemic, but it may at least make people happier.

Register here For the scoreboard, our new weekly must-read sports business briefing