Bloomberg The European Union (EU) is facing a cost of tens of billions of euros for the slow and chaotic rollout of coronavirus vaccinations compared to countries such as the UK and US. Lockdowns mean the bloc’s economy is operating at about 95% of its pre-pandemic level, equating to about $14 billion a week of lost output, according to calculations ...

Bloomberg The US economy is showing some scattered signs of picking up from an end-of-year slowdown, muddying President Joe Biden’s efforts to win congressional passage of a $1.9 trillion stimulus package. New claims filed for unemployment benefits have fallen for two straight weeks, while January payrolls are forecast to rebound from a December. Managers in charge of buying supplies for ...

Bloomberg Tesla Inc. will recall about 135,000 Model S and X vehicles in the US after a months-long investigation by the nation’s auto-safety regulator concluded their touch screens are defective. Tesla equipped certain Model S sedans from 2012 to 2018 and Model X crossovers from 2016 to 2018 with Nvidia Corp. processors that are prone to wearing out, Tesla said ...

Bloomberg The UK is launching a consultation on its post-Brexit subsidies system, which the government has hailed as a “significant milestone” in the country’s future outside the European Union (EU). The new UK-wide “subsidy control system” will replace the EU’s state aid regime, which was a major stumbling block in Brexit talks last year. Prime Minister Boris Johnson’s government believes ...

Bloomberg Nestle SA is in talks to sell its US bottled-water business to private equity firm One Rock Capital Partners, according to a person familiar with the matter. The deal could fetch more than $4 billion and be announced as soon as this month, the person said, asking not to be identified as the matter is private. Talks are ongoing ...

Bloomberg Regions of the UK powered by a combination of nuclear and wind are already hitting 2030 climate targets, according to an industry report. Britain has pledged the deepest cuts in greenhouse gas emissions in the Group of 20 nations to put the UK at the vanguard of the fight against climate change. The prime minister’s goal to slash pollution ...

Bloomberg The rally in global stock markets extended into a third day on Wednesday as companies from Amazon.com Inc. to Vodafone Group Plc posted strong results and the retail-trading frenzy subsided. The Stoxx 600 Index climbed 0.7%, with most sectors in the green as corporate results rolled in. Italian stocks and bonds surged after Mario Draghi, the former European Central ...

Bloomberg GameStop Corp. shares continued their rapid fall back toward earth on Wednesday, with last week’s massive peak becoming a distant memory. The stock listed on Germany’s Tradegate venue falls to $71.99, implying a drop of about 20% from Tuesday’s New York closing price of $90. GameStop, the poster child for Redditors looking to squeeze short sellers, plunged 60%, and ...

Bloomberg South Korea bowed to pressure from its increasingly dominant retail investors and extended its pandemic-imposed ban on short-selling until May 2. The ban, which had been scheduled to expire on March 15 — a year after it was put on place — will be lifted on May 3 for stocks on the benchmark Kospi 200 Index and the small-cap ...

DUBAI / WAM The UAE Government has launched a programme to attract elite graduates from distinguished educational institutions in the UAE and the world, and involve them in creating innovative solutions for the UAE’s future. The “Moonshot 2071” Apprenticeship Programme, will seek to develop pioneering ideas for the UAE’s next 50 years, and design the future of governments. Organised by ...