Here’s what you need to know about the impact of Covid-19 to navigate the markets today.
• President Donald Trump said on Friday that McKesson will partner with the US government to distribute a coronavirus vaccine when we are approved. Speaking at a White House press conference, Trump said the joint effort was being conducted as part of the federal government’s Operation Warp Speed, which aims to deliver doses of the Covid-vaccine. 19 to the American public. McKesson shares rose nearly 3% in the recent trade action. Just before Trump mentioned the company, the stock was up about 1.7%.
• Rent the Runway, a clothing subscription start-up, has decided not to reopen its stores, the company president, Anushka Salinas, said in an interview with CNBC.
• Stein Mart closes all its stores following the retailer’s bankruptcy. Here is the full list of stores with clearance sales.
• Canada’s Competition Bureau investigates Amazon.com
for his conduct in this country, by saying “there is no finding of wrongdoing at the moment”, but also by inviting the public to participate.
• Retail sales in the United States increased 1.2% in July compared with June, which was below the 2% consensus estimate among analysts polled by FactSet. The modest gain follows sequential increases of 8.4% in June and 18% in May, after falling 15% in April.
• UK government to purchase 90 million additional doses of Covid-19 vaccine, including 60 million Novavax and 30 million Janssen Pharmaceutica, a unit of Johnson & Johnson.
The UK has now made arrangements to purchase 340 million doses of the coronavirus vaccine. Here is a roundup of the latest developments in antiviral drugs and vaccines.
• The European Commission announced an agreement to purchase 300 million doses of a Covid-19 vaccine from AstraZeneca,
with an option to buy an additional $ 100 million, once the vaccine has been proven to be safe and effective.
• European equities fell after the UK added France to its quarantine list and China’s National Bureau of Statistics reported mixed news for July, including a 4.8% increase in industrial production from the previous year and a 1.1% drop in retail sales.
• Dr Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, suggested that schools organize as many outdoor classes as possible., that school buses keep their windows open and students wear face masks, during a Facebook Live chat with Rhode Island Governor Gina Raimondo.
• Fauci also said collective immunity is not possible for Covid-19, because trying to reach it instead of maintaining safety procedures while waiting for a vaccine would result in “huge” deaths. During an interview with actor Matthew McConaughey on Instagram, Fauci also discussed contact tracing and the success of small island countries in the fight against the coronavirus.
• A federal judge ruled that a lawsuit brought by a group of barber shop and restaurant owners in Kansas and Missouri to charge an insurance company for lost revenue due to the pandemic could range from the front. The plaintiffs argued that their claims should be covered by “all risk” policies that do not exclude losses caused by a virus. In other cases, judges have rejected business disruption insurance claims because they only cover losses resulting from “direct physical loss or damage.”
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