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Business News/ News / India/  Coronavirus update: Oxford leads vaccine projects, says top US expert
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Coronavirus update: Oxford leads vaccine projects, says top US expert

Oxford’s vaccine project is currently ahead of others, but the world needs more than one type of shot: Anthony Fauci

Hopes of a COVID vaccine have fueled a Wall Street rally since April (AP)Premium
Hopes of a COVID vaccine have fueled a Wall Street rally since April (AP)

A rebound in the U.S. labor market accelerated in June as broader reopenings spurred more hiring, though filings for unemployment benefits remained elevated last week. U.S. daily cases topped 50,000 Wednesday for the first time with increases in major states including Florida, Texas and California.

Oxford’s vaccine project is currently ahead of others, but the world needs more than one type of shot, said Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases.

Japan found more than 100 new cases in Tokyo, exceeding that number for the first time since May 2 when the city was still in a state of emergency. China recorded just one new infection in Beijing.

U.S. June Jobs Rise Above-Forecast 4.8 Million

The rebound in the U.S. labor market accelerated in June as broader reopenings spurred more hiring, though filings for unemployment benefits remained elevated last week as coronavirus cases picked up. Payrolls rose by 4.8 million in June after an upwardly revised 2.7 million gain in the prior month, according to a Labor Department report. The unemployment rate fell for a second month to 11.1%, still far above the pre-pandemic half-century low of 3.5%.

England’s Schools to Reopen From September

Restrictions on class sizes will be lifted to allow English schools, colleges and nurseries to fully reopen in September, at the start of the next academic year, Education Secretary Gavin Williamson said. Prime Minister Boris Johnson’s government is trying to persuade schools to return to normal, amid concerns that pupils are falling behind in their education and parents are unable to work effectively while educating their children.

Botswana President Quarantines After Aide Tests Positive

Botswana President Mokgweetsi Masisi started 14 days of quarantine after an “official closely serving him" tested positive for coronavirus, according to a statement emailed by the Office of the President.

Airbnb Restricts Bookings for Some U.S. Guests Under 25

Airbnb Inc. will restrict guests under the age of 25 with less then three positive reviews from booking entire home listings that are close to where they live, the company said in a statement. The measure will support “safe and responsible" travel in the U.S. and follows a similar initiative in Canada that was implemented earlier this year.

EU Seeks to Secure Remdesivir Doses

The European Union is in negotiations with Gilead on the possibility of reserving a “sufficient number of doses" of remdesivir for the bloc’s member states, a European Commission spokesman told reporters.

Djokovic’s Second Covid-19 Test Results Negative

World top tennis player Novak Djokovic and his wife, Jelena, recovered from coronavirus, his public relations agency said by email. The couple tested positive after an exhibition tour in the Balkans last month.

Neither showed any symptoms and have stayed in self-isolation over the past 10 days.

German Parliament Backs $246-Billion Debt Binge to Spur Growth

Germany’s lower house of parliament approved additional borrowing that will raise new debt this year to 218 billion euros ($246 billion) to fund spending to put the economy back on track.

The Bundestag also backed the government’s stimulus package designed to boost long-term competitiveness and help achieve climate targets, as the country seeks to emerge from its worst recession since World War II.

Audi Sees Swift Profit Recovery From Next Year After Virus Hit

Audi expects earnings to rebound quickly as Volkswagen AG’s premium-car division boosts restructuring efforts under new Chief Executive Officer Markus Duesmann.

Operating profit should reach 4.2 billion euros ($4.7 billion) next year and almost 5.8 billion euros in 2022, with the latter topping pre-crisis levels, the German carmaker said on its website. The numbers are based on an analysis by PricewaterhouseCoopers.

EUSA Pharma Gets Approval for Phase 3 Treatment Trial

EUSA Pharma received approval from the U.S. Food & Drug Administration to conduct a phase 3 clinical trial to evaluate the safety and efficacy of intravenous siltuximab to treat severe coronavirus patients.

Fauci Sees Need for Multiple Vaccines

The world needs more than one vaccine to tackle the pandemic, said Anthony Fauci, director of the U.S. National Institute of Allergy and Infectious Diseases. Oxford’s vaccine project is currently ahead of others, Fauci told the BBC.

France Says Virus Contained

All indicators are showing the coronavirus is under control in France after the some 200 clusters identified since lockdown measures were loosened were contained, French Health Minister Olivier Veran said in an interview on RTL radio.

The government is putting in place new restrictions in French Guiana, where cases have increased and is increasing nationwide testing this week to around 300,000. Any reopening of night clubs would be problematic, Veran said.


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This story has been published from a wire agency feed without modifications to the text.

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Published: 02 Jul 2020, 06:44 PM IST
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