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EU lifts ban on eight banks barred from bond sales
  + stars: | 2021-06-18 | by ( Reuters Staff | ) sentiment -1.00   time to read: +2 min
BRUSSELS (Reuters) -Eight banks previously excluded from syndicated debt sales backing the European Commission’s up to 800-billion-euro ($950.7 billion) COVID-19 recovery fund will be allowed to take part in future issues, the EU executive said on Friday. FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. The source said the reinstated banks were included in a request for proposals issued on Friday, a precursor to the next bond syndication for the recovery fund. The EU executive is still assessing the other two banks banned from the bond sale. “The eight banks have provided information that allow the Commission to conclude that their further exclusion from participation in syndicated transactions in EU bond issuance is not warranted,” the Commission said in an email.
Persons: Yves Herman, Nomura Organizations: EU, REUTERS, UniCredit, Credit Agricole, JPMorgan, Citigroup, Barclays, Bank of America, Deutsche Bank, NatWest, European Union, Reuters, European Commission, EU Commission Locations: BRUSSELS, Brussels, Belgium, Natixis
European Union Lifts Bond-Sale Ban for Some Banks
  + stars: | 2021-06-18 | by ( Anna Hirtenstein | ) sentiment -1.00   time to read: +1 min
The European Union lifted the ban against some banks that had been excluded from working on its bond sale earlier in the week. The banks had been penalized for those actions in 2019 and 2021. The banks that have been cleared will be eligible to work on future issuances and were informed on Friday, the European Commission, which is the trade bloc’s executive arm, said by email. “Their further exclusion from participation in syndicated transactions in EU bond issuances is not warranted,” it said. The program, the first major pan-European debt program, will eventually raise around €800 billion over five years.
Persons: Organizations: European Union, JPMorgan Chase &, Citigroup Inc, Bank of America Corp, Barclays PLC, Deutsche Bank AG, Nomura Holdings Inc, UniCredit SpA, Credit Agricole SA, EU, European Commission
Early this year, AstraZeneca disclosed significant manufacturing shortfalls of the vaccine and warned the EU that it wouldn’t be able to meet delivery commitments. The Belgian court, ruling on the lawsuit Friday, ordered AstraZeneca to deliver a total of just 80.2 million doses by September, a low hurdle since AstraZeneca has already delivered 70 million doses. The EU said the decision—while not forcing the company to expedite doses or face fines—showed AstraZeneca was in breach of its contract. Lawyers for the European Commission also said AstraZeneca would have fallen further behind in deliveries if it hadn’t taken legal action. The battle between the EU and AstraZeneca has been going since January, when the company first warned it wouldn’t meet supply targets.
Persons: wouldn’t, AstraZeneca Organizations: AstraZeneca, European Union, isn’t, European Commission, Belgian, EU, University of Oxford Locations: Brussels, Europe
Drag queen Elona Musk attends with his partner a demonstration against the latest anti-LGBTQ law in Budapest, Hungary, June 14, 2021. The 31-year old Hungarian said she had known she was gay from when she was a young boy. A survey of 2,000 people by the HATTER society, a Hungarian LGBT+ group, showed that 42% thought about suicide while 30% had attempted it. The new Hungarian law simply states clearly that only parents can decide on the sexual education of their children". His critics say Orban, who faces an election next year, has grown increasingly radical on social policy, railing against LGBTQ+ people and immigrants, which has deeply divided Hungarians and upset the LGBT+ community.
Persons: Elona Musk, Marton Monus, Daniella Milla Tokodi, Viktor Orban's, Daniella, HATTER, Orban, Elona, Critics, Zsolt Erdei, Emelia Sithole Organizations: REUTERS, Fidesz, European Commission, Krisztina, Thomson Locations: Budapest, Hungary, Marton, Marton Monus BUDAPEST, Hungarian, Romania, Transylvania
Covid Live Updates: China Nears a Billion Vaccinations
  + stars: | 2021-06-18 | by ( Amy Qin | Amy Chang Chien | ) + 0.00   time to read: +9 min
Live Covid Live Updates: China Nears a Billion Vaccinations After a sluggish start, the country’s mass inoculation effort accounts for more than a third of all shots globally. In Beijing, the capital, more than 80 percent of residents 18 and older were fully vaccinated as of Wednesday. The recommended reopening is expected to provide relief for southern European countries that are highly dependent on tourism. Americans have been mainly barred from Europe as the United States grapples with one of the highest caseloads in the world. The British government has been warning about the danger that the Delta variant poses, particularly in populations that have not yet been fully vaccinated.
Persons: China’s, Yuhui Li, , Li, Amy Qin, Susan Wright, Donald J, Trump, Biden, Ana Brigida, Boris Johnson Organizations: Getty, New York Times, Pfizer, Moderna, The New York Times, European Union, European Commission, Public, European Center for Disease Prevention Locations: China, Portugal, Lisbon, Wuhan, United States, Shanghai, Anhui Province, Beijing, Guangzhou, Guangdong Province, Shenzhen, Europe, Florence, Italy, European, Greece, Spain, Belém, India, Britain
E.U. Recommends Opening to Americans to Rescue the Summer
  + stars: | 2021-06-18 | by ( Monika Pronczuk | ) sentiment -1.00   time to read: +2 min
In spring 2020, to try to limit the spread of the coronavirus, the European Union largely blocked the arrival of external travelers. By introducing these less precise requirements, the bloc gained more discretion in choosing which countries to include in the list. China fulfills the quantitative criteria, but the entry of Chinese travelers is conditional upon reciprocity, though the E.U. economy ministers approved dropping the reciprocity requirement on Friday for Hong Kong and Macau. The reciprocity requirement seems to have been dropped in the case of the United States.
Persons: Célia Belin, , Belin, Organizations: European Union, Brookings Institution, Washington , D.C, European Commission, World Health Organization Locations: China, Hong Kong, Macau, United States, Europe, U.S, America, France, Belgium, Washington ,
A sign is seen at the entrance to the Google retail store in the Chelsea neighborhood of New York City, U.S., June 17, 2021. A European Commission probe could pose the biggest threat to Google, which made $147 billion in revenue from online ads last year, more than any other company in the world. Ads on its own properties, including search, YouTube and Gmail, accounted for the bulk of sales and profits. About 16% of revenue came from its display or network business, in which other media companies use Google technology to sell ads on their website and apps. ($1 = 0.8399 euros)Reporting by Foo Yun Chee; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Shannon Stapleton, Foo Yun Chee, David Evans Organizations: REUTERS, Google, European Commission, Gmail, Reuters, EU, Thomson Locations: Chelsea, New York City, U.S, Shannon Stapleton BRUSSELS
AstraZeneca says EU loses legal bid for more vaccine supplies by end-June
  + stars: | 2021-06-18 | by ( ) + 0.00   time to read: +2 min
That led to a bitter dispute and to the EU's legal action to get at least 120 million doses by the end of June. But AstraZeneca said a judge had ruled that it should deliver only 80.2 million doses by a deadline of Sept. 27. Should the company miss these deadlines it would face a penalty of "10 euros ($11.8) per dose not delivered", the EU Commission said. "AstraZeneca now looks forward to renewed collaboration with the European Commission to help combat the pandemic in Europe." read more"This decision confirms the position of the Commission: AstraZeneca did not live up to the commitments it made in the contract," Commission President von der Leyen said on Friday.
Persons: AstraZeneca's, Yves Herman, Ursula von der Leyen, AstraZeneca, von der Leyen, Francesco Guarascio, Alistair Smout, David Evans Organizations: REUTERS, AstraZeneca, European Union, EU Commission, Commission, EU, European Commission, Thomson Locations: Oxford, Antwerp, Belgium, Brussels, Swedish, Europe
AstraZeneca, EU both claim victory in tussle over deliveries
  + stars: | 2021-06-18 | by ( ) + 0.97   time to read: +2 min
AstraZeneca and the European Union both claimed victory Friday in a court tussle over allegations that the coronavirus vaccine-maker was not producing shots for the 27-nation bloc fast enough. AstraZeneca said that a judge in Brussels ordered delivery of 80.2 million doses of its vaccine by 27 September 2021. The EU's executive branch, the European Commission, had requested that the drug-maker deliver 120 million vaccine doses in total by the end of June. "This decision confirms the position of the Commission: AstraZeneca did not live up to the commitments it made in the contract. "AstraZeneca now looks forward to renewed collaboration with the European Commission to help combat the pandemic in Europe," the Anglo-Swedish company said.
Persons: AstraZeneca, Jeffrey Pott, Ursula von der Leyen Organizations: AstraZeneca, European Union, European Commission, Commission Locations: Brussels, Europe, Swedish
BRUSSELS, June 18 (Reuters) - Britain needs to restore trust by fully implementing the protocol governing trade for Northern Ireland, European Commission vice-president Maros Sefcovic said on Friday, while welcoming a British bid to cooperate over sausages. Britain should show "unwavering commitment" to implementing the Northern Ireland protocol, rather than "continually putting it into doubt", Sefcovic said in a speech at the College of Europe. Sefcovic said Britain should not make any further unilateral changes to the trading arrangements, as it did in March, and instead favour joint action through joint bodies. read moreThe European Union does not allow imports of chilled minced meat and "meat preparations", which include sausages, from third countries, which Britain became after leaving the bloc. Northern Ireland remains in the EU single market for goods, an arrangement designed to keep the Northern Ireland/Ireland border open and maintain peace.
Persons: Maros Sefcovic, Sefcovic, Philip Blenkinsop, Alison Williams Organizations: European Commission, Northern, College of Europe, European Union, EU, Thomson Locations: BRUSSELS, Britain, Northern Ireland, Great Britain, EU, European, Ireland
Live Covid Live Updates: Biden Likely to Fall Just Shy of His July 4 Vaccination Goal President Biden had set a deadline of having 70 percent of U.S. adults partly vaccinated by the holiday. Mr. Biden will speak about the vaccination drive as his administration makes a last push to reach the July 4 goal. A White House official said Mr. Biden would point to the 300 million milestone as evidence of his administration’s success. But from a political perspective, it would be the first time Mr. Biden has set a pandemic-related goal that he has not met. Portugal was one of the first European countries to reopen its borders to visitors from Britain and from across the European Union.
Persons: Biden, Verónica, Biden’s, Kamala Harris, Xavier Becerra, Harris, Becerra, Friday’s, , , Marcus Plescia, Jeffrey D, “ We’ve, Mr, Zients, ” Sheryl Gay Stolberg, Hazem Bader, Naftali Bennett, Israel, Benjamin Netanyahu, Thilo Schmuelgen, Ursula von der, Jeffrey Pott, Susan Wright, Donald J, Trump, Ana Brigida, Boris Johnson, Sergey Ponomarev, Vladimir V, Putin, Hsu Yao, King Yuan Electronics, ” John Ray Tallud, , Chang Cheng, Amy Chang Chien Organizations: West Bank, AstraZeneca, The New York Times, Health, White, D.C, Centers for Disease Control, Association of State, Territorial Health, Independence, Agence France, JERUSALEM, Palestinian Authority, Palestinian, Pfizer, United Arab Emirates, Fourth, Fourth Geneva Convention, European Union, European Commission, Belgian, “ AstraZeneca, Oxford University, Public, European Center for Disease Prevention, ., Kremlin, Levada, Yuan Electronics, News Service, Taiwan — Officials, Taiwan Centers for Disease Control, King, King Yuan, Locations: U.S, Israel, Gaza, Lisbon, Brussels, Rio Grande City , Texas, States, Atlanta, Colorado, Washington, America, United States, California, New York, , Dura, Hebron, Oslo Accords, Oslo, Fourth Geneva, Egypt, Cologne, Germany, BRUSSELS, Swedish, Britain, Europe, Florence, Italy, Portugal, European, Greece, Spain, Belém, India, Russia, Moscow, The New York Times Russia, Covid, Russian, Taiwan, Miaoli County, Taiwai, Miaoli, News Service TAIPEI, Vietnam, Philippines, Singapore
CureVac crashes after crucial COVID-19 vaccine trial disappoints
  + stars: | 2021-06-17 | by ( Ludwig Burger | ) + 0.00   time to read: +3 min
(Reuters) - CureVac shares fell by as much as 52% on Thursday after the German biotech’s COVID-19 vaccine proved only 47% effective in an initial trial, denting investor confidence in its ability to take on established rivals. Data on their products have, however, so far suggested only somewhat weaker protection against new variants. “This could cast doubt on competitiveness of its mRNA platform,” Jefferies said in a research note on CureVac’s study. Under CureVac’s only major supply deal for the product tested in the trial, the European Union in November secured up to 405 million doses of the vaccine, of which 180 million are optional. In a bet on CureVac’s technology, Britain in February placed a conditional 50 million dose order on yet-to-be-developed vaccines that build on the product tested in the trial.
Persons: ” Jefferies, Franz, Werner Haas Organizations: Reuters, Pfizer, Moderna, Public, Jefferies, Novavax, World Health Organization, UN, New York Times, European Medicines Agency, European Union, European Commission, EU Locations: Europe, Latin America, Germany, India, U.S, Britain, EU
UPDATE 1-EU Commission approves 30.5 bln euro Greek national recovery plan
  + stars: | 2021-06-17 | by ( Reuters Staff | ) sentiment -0.95   time to read: +2 min
(Adds quotes from EU Commission president, detail, background)BRUSSELS/ATHENS, June 17 (Reuters) - The European Commission approved on Thursday Greece’s national plan, worth 30.5 billion euros ($36.5 billion), to recover from the pandemic and make the economy greener and more digitalised. Under the multi-billion euro coronavirus recovery package agreed by EU leaders last year, Athens is set to receive 18.2 billion euros in grants and 13 billion euros in cheap loans in the coming years, equal to about 16% of its national output. Greece hopes the plan will boost its economic growth by as much as seven percentage points over the next six years. Greek Prime Minister Kyriakos Mitsotakis said the recovery plan encompasses about 175 investment projects, with main areas of focus including transitioning to a greener economy and digitalisation, including boosting high speed internet. “Today marks the last act of the turbulence the pandemic brought and the start of the recovery plan,” he said.
Persons: Ursula von der Leyen, Kyriakos Mitsotakis, Mitsotakis, , Jan Strupczewski, Gareth Jones Organizations: EU, European Commission Locations: BRUSSELS, ATHENS, Athens, Greece, Acropolis
CureVac Shares Plunge Premarket on Disappointing Covid-19 Vaccine Trial
  + stars: | 2021-06-17 | by ( Peter Loftus | ) sentiment -1.00   time to read: +1 min
Shares in Germany’s CureVac NV fell by almost half in premarket trading, pointing to hefty losses for investors when the market reopens, after the pharmaceutical company reported disappointing results from a study of its experimental Covid-19 vaccine. Nasdaq-listed CureVac said late Wednesday that its vaccine was 47% effective against the disease in an interim analysis of a large clinical trial, a disappointing outcome likely to dim the shot’s prospects for wider use. Shares in the company listed in Frankfurt traded 43% lower Thursday. CureVac has struck partnerships with big pharmaceutical companies GlaxoSmithKline PLC and Novartis AG to help make doses. CureVac was once considered to be among the most hopeful candidates to develop a successful Covid-19 vaccine.
Persons: CureVac Organizations: Nasdaq, European Commission, GlaxoSmithKline PLC, Novartis AG Locations: CureVac, U.S, Frankfurt, Europe
Banks excluded from issuance over historical collusion: EU's Hahn
  + stars: | 2021-06-17 | by ( ) sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanks excluded from issuance over historical collusion: EU's HahnJohannes Hahn, commissioner for budget and administration at the European Commission, discusses its first NextGenEU bond sale and when funds should be disbursed.
Persons: Banks, EU's Hahn Johannes Hahn Organizations: European Commission
Green bonds issuance planned for September-October, says EU's Hahn
  + stars: | 2021-06-17 | by ( ) sentiment -0.90   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGreen bonds issuance planned for September-October, says EU's HahnJohannes Hahn, commissioner for budget and administration at the European Commission, discusses expected timings for the commission's first green bond issuance and the longer-term prospect of further European debt issuance.
Persons: EU's Hahn Johannes Hahn Organizations: European Commission
EU states back personal data flows with ex-member Britain
  + stars: | 2021-06-17 | by ( ) + 0.98   time to read: +2 min
British and European Union flags are seen ahead of a meeting of European Commission President Ursula von der Leyen and British Prime Minister Boris Johnson, in Brussels, Belgium December 9, 2020. Olivier Hoslet/Pool via REUTERS/File PhotoBRUSSELS, June 17 (Reuters) - European Union member states have agreed that British standards for the protection of personal data are sufficently high that such information can continue to flow between the EU and its former member, the European Commission said on Thursday. The decisions relate to the EU's overarching General Data Protection Regulation (GDPR) and to a directive on the processing of personal data connected with criminal offences, particularly for victims, witnesses and suspects. Global software alliance BSA said it welcomed the EU member states' endorsement, commenting that adequacy frameworks were pivotal for personal data transfers of thousands of businesses operating in Europe. The EU has previously recognised as adequate the data standards of other countries, such as Argentina, Canada, Israel, Japan, New Zealand and Switzerland.
Persons: Ursula von der Leyen, Boris Johnson, Olivier Hoslet, Georgina Kon, Linklaters, Philip Blenkinsop Organizations: European, British, Union, EU, European Commission, Data Protection, Global, BSA, Thomson Locations: Brussels, Belgium, BRUSSELS, Europe, Argentina, Canada, Israel, Japan, New Zealand, Switzerland
Live Covid Live Updates: Ahead of Olympics, Tokyo’s State of Emergency to Be Relaxed Japan’s latest outbreak is receding and vaccinations are slowly picking up, but health experts warn that the government must remain vigilant. Tokyo has been under a state of emergency since late April, the third since the start of the pandemic. Credit Credit... Jeremy Woodhouse/Getty ImagesThe U.S. will spend $3 billion on developing antiviral pills to treat Covid-19. Contrary to some social media posts, his condition was not because he had received a coronavirus vaccine. Mr. Cummings said Mr. Raab did a far better job than Mr. Johnson in leading the government’s response to the pandemic.
Persons: Charly Triballeau, Yoshihide Suga, Shigeru Omi, , John Coates, Mahal, Money Sharma, Taj, Shah Jahan, Mumtaz Mahal, Taj Mahal, , Vasant Kumar Swarnkar, ” Kamlesh Tiwari, Mumtaz, Jeremy Woodhouse, Anthony Fauci, Emilio Parra Doiztua, ” Jean Castex, Monika Pronczuk, Isabella Kwai, Christian Eriksen, Martin Meissner, Eriksen, Piero Volpi, Volpi, Mr, Fabrice Muamba, Muamba, Eriksen “, Linda Qiu, Amr Alfiky, Bill de Blasio, de Blasio, Andrew M, Cuomo, Andrew Ward, You’ve, Springsteen, haven’t, “ Springsteen, Walter Kerr, Eduardo Munoz, Bruce Springsteen, Johnson, Truth, James, Bruce, I’ve, Springsteen’s, Boris, Dominic Cummings, Boris Johnson, Facundo Arrizabalaga, Johnson’s, Cummings, Matt Hancock, Hancock, Dominic Raab, Raab, Marcel Kuttab, Katherine Taylor, Parosmia, parosmia Organizations: Agence France, Olympic, New York Times, International Olympic Committee, Survey, Credit, Getty, Department of Health, Human Services, Pandemics, Trump, National Institute of Allergy, World Health Organization, Emory University, The New York, European Union, European, European Commission, European Medicines Agency, Italian, Inter Milan, Finland, Inter, Gazzetta Dello Sport, Pfizer, Twitter, Radio Sportiva, Inter Milan’s, Gazetta, Serie, Bolton Wanderers, Tottenham Hotspur, Sky Sports, American College of Cardiology, New England, of Medicine, Disease Control, Residents, New York Times New, Gov, Williams, Broadway, Walter, Walter Kerr Theatre, Reuters, U.S . Food, Drug Administration, Moderna’s, BioNTech’s, AstraZeneca, Toronto Star, James Theater, The New York Times, Facebook Locations: Tokyo’s State, South Asia, U.S, Tokyo’s, Tokyo, Japan, Okinawa, India, Agra, Mahal, Mumbai, Delhi, Uttar Pradesh, Pakistan, ., Europe, Madrid, Spain, Greece, lockdowns, France, United States, Britain, Republic of Ireland, Moscow, European Union, Australia, South Korea, Albania, Lebanon, North Macedonia, Serbia, Germany, Denmark, Finland, Danish, Inter Milan, Copenhagen, English, New York City, Lucerne, New York Times New York City, Manhattan, Brownsville , Brooklyn, New York, Canada, U.S.A, York’s St, New York State, British, Shutterstock
CureVac crashes after COVID-19 vaccine underwhelms
  + stars: | 2021-06-17 | by ( Ludwig Burger | ) + 0.00   time to read: +5 min
June 17 (Reuters) - German biotech firm CureVac (5CV.DE) saw billions of euros wiped from its market value on Thursday after its COVID-19 vaccine proved only 47% effective in an initial trial read-out, denting investor confidence in its ability to take on rival shots. The disappointing efficacy of its vaccine, CVnCoV, emerged from an interim analysis in a study of about 40,000 volunteers in Europe and Latin America, with CureVac saying on Wednesday that new variants had proved a headwind. "This could cast doubt on competitiveness of its mRNA platform," Jefferies said in a research note on CureVac's study. read more1/2 A volunteer receives a dose of CureVac vaccine or a placebo during a study by the German biotech firm CureVac as part of a testing for a new vaccine against the coronavirus disease (COVID-19), in Brussels, Belgium March 2, 2021. ($1 = 0.8377 euros)Reporting by Ludwig Burger; additional reporting by Francesco Guarascio in Brussels; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
Persons: Jefferies, Yves Herman, Peter Kremsner, Moderna's, Franz, Werner Haas, CureVac, Ludwig Burger, Francesco Guarascio, Alexander Smith Organizations: Pfizer, Moderna, Public, Jefferies, Novavax, CureVac, REUTERS, World Health Organization, University Hospital, Reuters, European Medicines Agency, European Union, European Commission, EU, Bayer, Novartis, Thomson Locations: Europe, Latin America, Frankfurt, New York, India, U.S, Brussels, Belgium, Tuebingen, Britain, EU
Apple's Cook criticises proposed changes to draft EU tech rules
  + stars: | 2021-06-16 | by ( ) sentiment -1.00   time to read: 1 min
CEO Tim Cook speaks at an Apple event at the company's headquarters in Cupertino, California, U.S. September 10, 2019. REUTERS/Stephen Lam/File PhotoBRUSSELS/PARIS, June 16 (Reuters) - Apple (AAPL.O) Chief Executive Tim Cook on Wednesday said that proposed changes to a draft EU tech law known as the Digital Markets Act (DMA) were not in the best interest of users. Cook did not mention what the changes he was referring to. EU lawmaker Andreas Schwab, who is leading the European Parliament scrutiny of tech rules proposed by the European Commission, wants to toughen up the legislation and also narrow its scope to only Alphabet unit Google, Amazon, Apple and Facebook. Reporting by Foo Yun Chee in Brussels and Mathieu Rosemain in Paris;Our Standards: The Thomson Reuters Trust Principles.
Persons: Tim Cook, Stephen Lam, Cook, Andreas Schwab, Foo Yun Chee, Mathieu Rosemain Organizations: REUTERS, Digital Markets, European Commission, Apple, Facebook, Thomson Locations: Cupertino , California, U.S, BRUSSELS, PARIS, Paris, Brussels
EU urges Britain and United States to clarify dollar Libor demise
  + stars: | 2021-06-16 | by ( Huw Jones | ) sentiment -1.00   time to read: +2 min
LONDON (Reuters) - The European Union on Wednesday called on Britain and the United States to limit litigation by agreeing how to price legacy contracts after the tarnished Libor interest rate is scrapped. Britain and the United States are working on what alternative rates would be used in legacy contracts that cannot shift to the central bank benchmarks. EU counterparties could also face alternatives for dollar Libor from Britain and the United States, creating confusion over which one they should choose, Lueder said. There is around $220 trillion in outstanding exposures to dollar Libor. The EU wants to know which dollar Libor replacement rate it should enforce in legacy contracts, Lueder said.
Persons: Yves Herman, Tilman Lueder, Lueder, , ” Tilman, David Bowman, Bowman Organizations: European Union, EU, REUTERS, London, New York State, European, European Commission, Britain’s Association, Corporate, Federal Reserve Locations: Britain, United States, Brussels, Belgium, EU
LISBON (Reuters) -Portugal on Wednesday became the first EU country to have its recovery plan rubber-stamped by the European Commission, whose president Ursula von der Leyen said an initial disbursement from the bloc’s COVID-19 recovery fund should come in July. Slideshow ( 2 images )“The plan clearly meets the demanding criteria we have jointly established,” von der Leyen told reporters after meeting Portuguese Prime Minister Antonio Costa in Lisbon. “There is no doubt that it will deeply transform Portugal’s economy.”Under the scheme, which is yet to be approved by the Council of the European Union in a maximum of four weeks’ time, Portugal will get 13.9 billion euros ($16.85 billion) in grants and 2.7 billion euros in loans until 2026. It plans to give around 5 billion euros to companies, reinforcing their equity, supporting investments in innovation, greener production processes, digital tools and skills. The plan also envisages dozens of investment projects in health, social housing and infrastructure.
Persons: Ursula von der Leyen, ” von der Leyen, Antonio Costa, , Ursula, Costa, Nelson Souza Organizations: Wednesday, EU, European Commission, Portuguese, , of, European Union, Radio, Portugal’s Business Locations: LISBON, Portugal, Lisbon, Brussels
CureVac Covid-19 Vaccine Candidate Disappoints in Key Study
  + stars: | 2021-06-16 | by ( Peter Loftus | ) sentiment -0.94   time to read: +1 min
CureVac NV said Wednesday its experimental Covid-19 vaccine was 47% effective against the disease in an interim analysis of a large clinical trial, a disappointing outcome likely to dim the shot’s prospects for wider use. CureVac’s vaccine uses a gene-based technology, messenger RNA, similar to the technology used by Moderna Inc. and Pfizer Inc., with its partner BioNTech SE , to make Covid-19 vaccines. In comparison, those vaccines were at least 94% effective in large clinical trials last year before new virus variants spread significantly. The Moderna and Pfizer shots have formed the backbone of mass vaccination campaigns in the U.S. and other countries. CureVac’s vaccine is slightly different than the Pfizer and Moderna shots, with a formulation that allows it to be stored at higher temperatures than the other shots.
Persons: CureVac Organizations: CureVac NV, European Commission, GlaxoSmithKline PLC, Novartis AG, Moderna Inc, Pfizer Inc, Moderna, Pfizer Locations: Europe, U.S
WASHINGTON (Reuters) - A deal for a five-year ceasefire in a U.S. and EU dispute over aircraft subsidies on Tuesday reflected progress, but the underlying trade relationship remains fragile with many unresolved disagreements, diplomats and trade experts said. “It’s not as good as what it could be or should be,” said one diplomatic source of the five-year hiatus. U.S. steel industry groups and unions are urging the Biden administration to keep in place the 25% steel and 10% aluminum tariffs imposed three years ago under Trump. One senior U.S. trade official told reporters on Tuesday that the issue would be “difficult” to resolve. “We are not really yet seeing a full engagement on the issue,” said one EU official, adding that the Biden administration was still reflecting “on what to do.”
Persons: Francois Lenoir, “ It’s, , “ They’ve, Biden, Donald Trump, Washington, Trump Organizations: WASHINGTON, Union, Transatlantic Trade, Investment, EU, REUTERS, Boeing Co, Airbus, World Trade Organization, U.S . Trade, Trump, The, European Commission, WTO, Harley, Davidson Inc, APPLE, FACEBOOK, Washington, Apple Inc, Facebook Inc Locations: U.S, Brussels, United States, Washington, China, The U.S, States, France, Italy, EU, WTO
While Nvidia told investors last year that it plans to close the deal by March 2022, the purchase agreement gives the two companies the option to extend the deadline to September 2022. But at that point, either party has the option to walk away if the deal does not receive government approval. Nvidia has not yet filed an application to clear the deal with the European Commission. The U.S. Federal Trade Commission has been gathering information about the deal, people familiar with the matter told Reuters. Nvidia and Arm officials have told Reuters they intend to keep “firewalls” in place at the combined company to prevent that from happening.
Persons: We’ll, Organizations: Reuters, Nvidia Corp, Nvidia, Qualcomm Inc, Samsung Electronics Co, Apple Inc, European Commission, Technology, U.S . Federal Trade Commission, Financial Times, , SoftBank, Corp, Nasdaq, Intel Corp, Devices Inc Locations: British, Europe, China, United Kingdom, Cambridge, England
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