Biden accelerates vaccine timeline...
US president Joe Biden said the production of covid-19 jabs was now 2 months ahead of schedule. “We’re now on track to have enough vaccine supply for every adult in America by the end of May,” Biden said on Tuesday. He called on states to prioritise the inoculation of teachers and school staff during the month of March. Sources: AP, New York Times, NPR and Reuters.
...after announcing deal between J&J and Merck
One reason for the accelerated inoculation timeline is an agreement brokered by the White House that will see the pharmaceutical giant Merck produce its rival Johnson & Johnson’s covid-19 vaccine. Sources: CNBC, Financial Times, Marketwatch and NPR.
Texas lifting all covid-19 restrictions
The governor of Texas said that starting 10 March the state’s mask mandate and its other pandemic-fighting rules would end, against the advice of scientists. Businesses will be allowed to open at maximum capacity. Sources: AP, Bloomberg, Financial Times and The Guardian.
Latest Luxembourg covid-19 update
Out of 9,492 PCR tests given on 1 March, 152 Luxembourg residents were positive. That is a rate of 24.28 new cases per 100,000 inhabitants (compared to 29.07 on 22 February). The reproduction rate was 1.00, the threshold target (compared to 1.02). There were 100 covid-19 patients in hospital (compared to 83), including 20 in intensive care (compared to 17). Two people died, bringing the national total to 641. A cumulative 39,121 vaccine doses have been administered, including 11,466 people who have received a second dose. Sources: Delano and health ministry.
Spire to list via SPAC deal
Luxembourg-based space data outfit Spire Global plans to go public through a merger with a blank cheque company. The transaction will give Spire $475m in cash and value the firm at $1.6bn. Sources: CNBC, Delano, Seeking Alpha and Techcrunch.
New Wort building sold
Lafayette SA, which manages the Archdiocese of Luxembourg’s investments, has sold the building under construction in Howald that will house the Wort, the country’s largest newspaper. Sources: Delano and Paperjam.
Volvo to go fully electric
The Swedish carmaker Volvo said it would only market electric vehicles by 2030. It plans to sell 50% electric and 50% hybrid vehicles by 2025. It will also shift its sales strategy online. Sources: BBC, CNBC, CNN and The Guardian.
Watchdog takes reins of Greensill
Germany’s financial regulator, Bafin, now oversees day-to-day operations of Greensill Bank, which specialises in supply chain finance. Greensill is seeking insolvency protection and a potential sale after Credit Suisse suspended access to $10bn in funds. Sources: Bloomberg, Financial Times and The Guardian.
Rio Tinto chair to step aside
Simon Thompson, chair of the mining giant Rio Tinto, said he would not seek re-election after revelations that Rio Tinto destroyed a pair of 46,000 year old Aboriginal rock shelters to construct an iron ore mine in Western Australia last year. Sources: BBC, Bloomberg, Financial Times and The Guardian.
Nike exec quits
Ann Hebert, head of Nike’s North America business, resigned following revelations that her 19 year old used her company credit card to purchase shoes for his resale business. He said that she never provided insider information. Nike said she had done nothing improper. Sources: BBC, Bloomberg, CNBC and New York Times.
EU & US impose fresh Russia sanctions
Brussels and Washington slapped a new set of sanctions on Moscow over the poisoning and jailing of Russian opposition leader Alexei Navalny. Among those targeted are Russia’s chief prosecutor and the head of its federal prison service. Sources: DW, Financial Times, Politico and Reuters.
EU top court says Polish judge law breaks EU rules
The European Court of Justice said that judges applying for Poland’s supreme court can appeal a review board’s decisions, pushing back on a judicial reform bill passed by the country’s ruling party. Sources: DW, Euractiv, Politico and Reuters.
Sarkozy ready to appeal to European court
Former French president Nicolas Sarkozy, convicted of corruption on Monday, said he would appeal all the way to the European Court of Human Rights, in Strasbourg, in order to prove his innocence. Sources: AFP, Le Figaro and Reuters.
Beijing-backed hackers went after US institutions, says Microsoft
Microsoft said that China-linked hackers targeted several US research outfits and law firms using a vulnerability in its email server software, which it has since patched. The Chinese embassy did not comment, but Beijing has denied similar allegations in the past. Sources: DW, The Register, Reuters and Techcrunch.
‘Buttergate’ in Canada
Canadians have noticed that spreading and melting butter has become more difficult recently. Are farmers adding more palm oil? Sources: CBC, The Guardian and NPR.
Today’s breakfast briefing was written by Aaron Grunwald