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US state and federal officials urged people to do more to combat the accelerating spread of coronavirus as a record number of hospitalisations threatened to put an unprecedented strain on healthcare systems across the country.  Local authorities in California’s Bay Area, home to San Francisco and Silicon Valley, issued a “stay at home” order on Friday
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Congress has passed legislation that would force Chinese companies to delist from American exchanges unless they comply with US accounting rules. The House of Representatives on Wednesday passed the bill, which could affect companies from China Telecom to Alibaba, following Senate passage in May. Donald Trump is expected to sign the legislation, which has benefited
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European regulators have pushed back formal assessments of the Pfizer/BioNTech and Moderna vaccines, potentially delaying distribution of the injections in EU countries to next year. The European Medicines Agency said it planned to give an opinion on the Pfizer/BioNTech vaccine at a meeting on December 29, making distribution in member states, which will individually approve
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Joe Biden, the US president-elect, on Monday unveiled an economic team that sought to balance experienced Democratic policymakers who will be well-received by markets and business with more progressive economists. The nominees included Janet Yellen, the former Fed chair, as Treasury secretary, and Neera Tanden, a former senior aide to Hillary Clinton and president of
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The UK is poised to become the first western country to approve a Covid-19 vaccine, with the independent regulator set to grant approval within days. Deliveries of the vaccine developed by BioNTech and Pfizer would begin within hours of the authorisation, according to government officials. The first injections could take place from December 7. The
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HSBC is weighing up a complete exit from retail banking in the US after narrowing the options for how to improve performance at its struggling North America business, according to two people familiar with the situation. Senior management aim to present the plan to the bank’s board in the coming weeks, the people said, as
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It has taken just 10 months, in UK prime minister Boris Johnson’s flamboyant assessment, for “the scientific cavalry” to arrive. When three groups announced in quick succession this month that the vaccines they had developed against Covid-19 had proved highly effective in clinical trials, the news offered not only a blazing ray of hope for a
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Global stocks were on track for their best month on record on Friday, propelled by a series of Covid-19 vaccine breakthroughs and optimism over Joe Biden’s victory in the US presidential election. MSCI’s index of developed and emerging markets is up almost 13 per cent so far in November with a slim gain of 0.1
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Donald Trump on Wednesday issued a full pardon to Michael Flynn, his former national security advisor who pleaded guilty to lying to federal investigators about conversations with the Russian ambassador. “It is my Great Honor to announce that General Michael T Flynn has been granted a Full Pardon. Congratulations to @GenFlynn and his wonderful family, I
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Donald Trump said on Monday his administration would begin co-operating with Joe Biden’s transition team, bowing to Republican pressure to start the transfer of power even as he vowed to continue contesting his election loss. The president’s statement, which stopped short of a formal concession, came after a Michigan board certified the state’s election results
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The coronavirus vaccine developed by Oxford university and AstraZeneca has comfortably exceeded regulatory requirements for effectiveness in phase 3 trials, giving another boost to hopes that the pandemic can be defeated. The successful results follow the positive trials of rival treatments this month from Pfizer/BioNTech and Moderna, which have lifted global stock markets and signalled
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A federal judge on Saturday dealt a blow to Donald Trump’s attempt to overturn the results of the presidential election, throwing out a lawsuit in Pennsylvania with an excoriating opinion that cast his legal arguments as shoddy, without evidence and contrary to the US constitution. The dismissal of the Trump campaign’s lawsuit, which had sought
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Donald Trump’s efforts to overturn the US presidential election result suffered significant setbacks on Friday after Georgia officially certified Joe Biden’s win and top Republican lawmakers in Michigan dismissed the idea they would throw the state to the president. The developments were the latest blows to Mr Trump’s unprecedented and long-shot effort to retain power
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Rising prospects of a Covid-19 vaccine are threatening to kill off the bull market for gold, after an epic two-year rally that pushed the precious metal to a record high in the summer. Gold prices have already fallen about 10 per cent since their August peak above $2,000 a troy ounce, as confidence gradually returned
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