After the COVID blow, climate change pushes Lyme disease in France’s Valneva’s attention
Drugmaker Valneva (VLS.PA) is placing a large wager on a vaccine as it looks past dismal sales of its COVID shot as increased cases of tick-borne and deadly Lyme disease are being caused by climate change. Although Valneva received regulatory approval from the European Union and the British government, both organisations terminated contracts totalling greater than […]
Banks, energy shares lift FTSE 100
London’s FTSE 100 rallied from recent losses. This is as a sign of a recovery, saw investors piling into economically sensitive sectors, with energy stocks rising as oil prices hit three-year highs. The blue-chip FTSE 100 index gained 0.9%. This is after three straight sessions of losses. The benchmark UK 10-year bond yield touched a […]
BOJ policymakers saw prospects of quicker recovery in April
The massive stimulus measures deployed by advanced nations may help quicken the pace of recovery in the Japanese and global economies. This was agreed by the Bank of Japan board members in their April policy-setting meeting showed on Wednesday. The central bank in the world’s third-biggest economy will keep monetary settings unchanged for the time […]
Citi CFO Mason warns of mixed year for bank even as recovery continues
Citigroup Inc’s finance chief Mark Mason predicted a strong economic recovery this year. This is as more people get vaccinated, but cautioned that may not translate into better profits for the bank because of a slowdown in institutional businesses and higher expenses. The CFO also stated that it is been a consumer-led recovery, which is […]
Supply bottlenecks could delay German recovery, institute warns
An economic research centre found that Bottlenecks in the supply of raw materials could cost Germany a rapid recovery from the economic impact of the pandemic. This is because two-thirds of the sectors in the economy reporting supply constraints. 40% of industry groups surveyed reported severe short-term supply disruption. This is stated according to the […]
Premature to be envisaging second European stimulus plan-EU antitrust chief
The EU’s antitrust chief told Les Echos that before envisaging further stimulus, the European Union must focus on its current 750-billion-euro ($910 billion) pandemic recovery package. The chief also added that talking of a second plan was a bit bizarre. Margrethe Vestager, the European Commission’s executive vice president said in an interview in the French […]
Fund managers see value, cyclical stocks running further despite slow US jobs recovery
Some technology stocks got a boost after a disappointing U.S. jobs report. Some portfolio managers say that blow-out earnings from several large technology companies over are not enough to keep making outsized bets on the sector. Instead, those fund managers say that they are continuing to rotate into value and cyclical stocks. But their fortune […]
Global insolvency
The general manager, Agustin Carstens, of Bank for International Settlements (BIS) said and quotes “We have only just overcome the liquidity phase of the crisis in countries that are now relaxing restrictions. In many others, the health crisis is still acute. And the epidemic could flare up again anywhere. Importantly, the shock to solvency is […]