1. U.S. Markets Up Ahead of Fed Decision
Stocks in the U.S. market moved up the most since July as China’s Evergrande Group paid off some of its debt obligations. There is also the Federal Reserve policy decision tonight, which can cause some volatility in the markets. The S&P 500 and Dow Jones are both up more than 1% today, being pushed up by the energy and financial sectors. They are trying to break a 4-day streak of closing in the red.
Stoxx Europe is up by 1%
Dow Jones is up by 1.18%
NASDAQ is up by 0.85%
U.S. To Donate 500 Million More Covid-19 Vaccine Doses
U.S President Joe Biden said on Wednesday the government has decided to buy 500 million or 50 crores of Covid-19 vaccine to share with other countries. This will take the total Covid-19 vaccination donations done by the U.S to 1.1 billion doses. The government was under pressure after it planned booster shots to fully vaccinated Americans while millions of people around remain unvaccinated.
Thailand Says Pfizer Spurs Top Response After Sinovac, Astra Jab
One of Thailand’s main Covid-19 vaccine regimes generates a lower immune response than inoculation combinations that include an mRNA-based dose, according to a study by the Siriraj Institute of Clinical Research.
Preliminary results showed that a Sinovac Biotech Ltd. vaccine as a first shot followed by an AstraZeneca Plc jab — a pairing widely used in Thailand — elicited a weaker immune response than a two-dose regime in which Pfizer Inc.’s vaccine was administered as the second shot four weeks after an initial jab of either Sinovac or Astra, the study said.
Malaysia Looking at New Taxes to Boost Revenue, Deputy FM Says
Malaysia’s government is mulling the imposition of capital gains tax and a one-off higher tax rate on companies that have earned extraordinary profits during the pandemic to boost revenue, according to Deputy Finance Minister Yamani Hafez Musa. “Additional revenue from this one-off tax will be used to fund recovery activities and programs to help targeted groups,” he said in parliament on Wednesday.
Ex-Hedge Fund Manager’s Startup Hits $2 Billion Value
Advance Intelligence Group, a technology startup led by former hedge fund manager Jefferson Chen, topped $2 billion in valuation after raising more than $400 million from investors led by SoftBank Vision Fund II and Warburg Pincus. Northstar, Vision Plus Capital, Gaorong Capital and EDBI also joined the Series D financing round, the company said in a statement on Wednesday.
Australia Borders to open by Christmas, Government Says
Australia’s Tourism Ministry has said that the country plans to open its international border on or even before Christmas. The country has one of the strictest restrictions on international travel due to Covid-19.
Along with this, Australians will be able to travel abroad without any restrictions on the destination, once the vaccination rate in their respective home state hits 80%.
Parts Shortage Forces Marelli to Cut Jobs
Japanese auto parts and accessories maker Marelli Corporation is planning to cut about 1,500 jobs around the world to keep the company run smoothly as component shortages pulled down sales.
Marelli will eliminate about 7.5% of its 20,000 office staff next year to align its workforce and costs with industry levels, according to a letter sent by Chief Executive Officer Beda Bolzenius.