With the recent spate of bond defaults in China, investors should be looking to put their money into Chinese central government bonds which are “unlikely to default,” according to an economist from research firm TS Lombard. Last month, a series of high-profile defaults involving state-owned companies in China — normally a safe bet for investors — jolted […] Read more
Moderna said Monday it will request emergency clearance from the Food and Drug Administration for its coronavirus vaccine after new data confirms the vaccine is more than 94% effective in preventing Covid-19 and was safe. Moderna will be the second drugmaker to seek emergency use from the FDA after Pfizer, another front-runner in the Covid-19 vaccine race, applied for the […] Read more
AstraZeneca and the University of Oxford are defending the results and methods used in their phase three vaccine trials on the back of criticism from experts in the U.S., stressing the “highest standards” were used and that “additional analysis will be conducted.” AstraZeneca shares are down by around 6% this week after questions were raised over […] Read more
The U.S. needs to take a “strategic approach” as it competes with China on artificial intelligence, according to a Nasdaq executive. AI is an area that is going to only develop in partnership with government, and U.S. authorities need to get involved, said Edward Knight, vice chairman of Nasdaq. The Chinese government has already started […] Read more
British telcos could face large fines if they fail to tighten security in their networks under a new law being announced in Parliament on Tuesday. The proposed Telecommunications Security Bill is designed to improve security in the U.K’s 5G and full-fiber networks. Under the bill, network operators must ensure the equipment and software used at […] Read more
China’s government made two significant appointments over the weekend, assigning two former bankers to key positions that underscore President Xi Jinping’s policy priorities for the next few years, as the nation’s economic growth loses its breakneck pace, while the financial markets must prepare for greater foreign competition and liberalisation. The government promoted Yi Huiman, chairman […] Read more
Hongkongers have used 2 billion disposable masks since the beginning of the coronavirus pandemic, a local green group has said, urging the government to issue guidelines to encourage the use of reusable variants. Greeners Action surveyed 1,095 people and found that 92 per cent of respondents habitually wore disposable masks. More than half of them […] Read more
The third typhoon to hit the storm-battered Philippines in as many weeks caused major flooding in Manila on Thursday, trapping people on rooftops and claiming at least 11 lives across the country. Typhoon Vamco packed winds of up to 155km/h as it swept across the country’s largest island of Luzon after making landfall overnight. Authorities […] Read more
Despite rising Covid-19 infections throughout the United States, Europe and beyond, people are preparing to travel in late 2020. According to a survey by travel booking app Hopper, 39% of Americans are expected to travel during the upcoming holiday season. By that estimate, nearly 130 million people will be hitting the road in the United […] Read more
Pfizer and BioNTech announced Monday their coronavirus vaccine was more than 90% effective in preventing Covid-19 among those without evidence of prior infection, hailing the development as “a great day for science and humanity.” “I think we can see light at the end of the tunnel,” Pfizer Chairman and CEO Dr. Albert Bourla told CNBC’s Meg Tirell on […] Read more
