Total Active Cases
Although most EU countries began loosening coronavirus travel and entry restrictions in June-July, come August and several are tightening them back up again, even among themselves. As lockdown measures began easing and travel gradually resumed, many countries saw an increase in COVID-19 infections, leading to the reintroduction of border control among the EU States and […]
As a result of losses incurred due to the COVID-19 pandemic, Air India announced on Wednesday that they will be closing down five of their European stations. The stations closing are in Vienna, Milan, Madrid, Copenhagen and Stockholm, brining their EU connections down by nearly half. “In view of COVID19, Air India (AI) has decided […]
The Swiss government has asked for an extra CHF770 million ($841 million) in funds to tackle the coronavirus fallout. This comes on top of the CHF31 billion in bailout funds approved by parliament since March. The latest batch of funds is to cushion the economic impact of the pandemic in 13 areas. Some CHF288.5 million has been earmarked to pay for Covid-19 testing, but this amount can be offset against funds already allocated for procuring medical equipment, the government announced on Wednesday. Another CHF221.3 million is needed to shore up the national railway system that has seen a huge drop in passenger numbers as a result of the pandemic. Air traffic control company Skyguide requires CHF400 million to make up for lost revenues resulting from reduced air transport. This would come in two tranches of CHF150 million this year, which parliament is being asked to produce now, and a further CHF250 million in 2021. Also on Wednesday, the Federal Council (governing body) indicated its intention to extend the period that workers put on shortened hours can claim insurance for their lost earnings. The government has forecast that the pandemic will cost Switzerland CHF20.9 billion by the end of the year. A greatly reduced tax income will blow an estimated CHF3.1 billion hole in funding for normal expenses. An additional CHF17.8 billion of emergency funding is expected to be spent tackling coronavirus this year. Parliament has approved extraordinary expenditure of CHF30.8 billion, but it appears unlikely that all of this will need to be used. The state is also underwriting up to CHF42 billion in loans for struggling businesses. This is due to be paid back, but the government has budgeted a CHF1 billion loss for this year as some companies are expected to go bust despite the loans. Budget forecasting remains a difficult task as the course of the pandemic until the end of the year is uncertain.
"Overall, this will result in a financing deficit of 20.9 billion francs." Switzerland ran a federal budget surplus of 3.6 billion francs in 2019 but, like other countries around the world, was forced to shutter much of the economy for weeks to stem the spread of the disease. Finance Minister Ueli Maurer had warned in April the budget deficit could jump to around 6% of national output this year, but has since said the government overestimated the amount of short-time work employers would use to cushion the blow of decreasing demand.
European executives of nearly dozens of European airports and airlines have sent a joint letter to Canada’s Prime Minister Justin Trudeau and his cabinet’s ministers, urging them to lift travel restrictions imposed due to Coronavirus pandemic (COVID-19), in order to restore safe international travel. The executives of a large share of European airlines and airports […]
Authorities in Belgium have banned non-essential travel to some areas of France, Spain and Switzerland after these countries were added to Belgium’s “red zone” due to a surge in the number of new Coronavirus cases (COVID-19). According to local authorities in Belgium, the country saw a 78 per cent increase in the number of COVID-19 […]
Moderna Inc (NASDAQ: MRNA) shares were moving to the downside Wednesday despite the coronavirus vaccine developer reporting forecast-beating second-quarter results and reports of a potential deal with the Swiss government.Moderna's Q2 Report: Cambridge, Massachusetts-based Moderna said its second-quarter revenue increased from $13.1 million in 2019 to $66.4 million in 2020, exceeding the $27.43-million consensus estimate.The company attributed the higher revenue to increased collaboration revenues from AstraZeneca plc (NYSE: AZN) and incremental BARDA funding.The loss per share narrowed from 41 cents to 31 cents, despite R&D expenses climbing about 18%. The Street was expecting a loss of 35 cents per share. The company ended the quarter with cash, cash equivalents and investments of about $3.1 billion. Moderna raised $1.3 billion in net proceeds with a public equity offering in May.Moderna said it has received about $400 million in customer deposits as of July 31 for potential supply of its coronavirus vaccine candidate, mRNA-1273.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Moderna Analyst Says Government Funding Key: On the earnings call, the company said it has executed smaller volume agreements for mRNA-1273 at $32-$37 per dose, and it expects to negotiate larger volume contracts at lower prices in the future, SVB Leerink analyst Mani Foroohar said in a note."We continue to expect larger volume government contracts to drive most revenue in the pandemic period, and that these large contracts will present an economically [attractive] value to MRNA shares on a contribution margin basis, regardless of somewhat lower headline price," the analyst said. View more earnings on MRNAThe risk of increasing competitive intensity could impact demand, he said. Moderna said its base case assumes a supply of 500 million doses of the vaccine per year, with annual capacity of 1 billion doses in an upside scenario, Foroohar said. The Phase 1 data from elderly patients treated with mRNA-1273 is likely to be released in the upcoming weeks, the analyst said.A Deal In The Making: Moderna is close to striking a coronavirus vaccine supply agreement with the Swiss government, a Reuters report said, citing a government official."We are only a few hours away from completing a purchase contract. With this contract we will get it very quickly," the official reportedly said.The official did not disclose the financial terms of the deal, Reuters said.MRNA Price Action: Moderna shares were down 3.98% at $75.34 at the time of publication Wednesday. Related Links:The Week Ahead In Biotech: Novavax Coronavirus Vaccine Readout, FDA Decisions And More Earnings Attention Biotech Investors: Mark Your Calendar For August PDUFA Dates Latest Ratings for MRNA DateFirmActionFromTo Jul 2020SVB LeerinkInitiates Coverage OnMarket Perform Jul 2020JP MorganDowngradesOverweightNeutral Jul 2020Chardan CapitalMaintainsBuy View More Analyst Ratings for MRNA View the Latest Analyst Ratings See more from Benzinga * The Daily Biotech Pulse: Novavax Vaccine Data, Aerpio Gets .1M Funding For COVID Trial, Rigel Gains Big On Earnings * Coronavirus Vaccine Developer Moderna's Q2 Report: What To Expect(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Dreyfuss NEW YORK, Aug 14 (Reuters) - The dollar stumbled on Friday, falling for eight straight weeks, as investors continued to shun it and looked to other currencies whose economies are currently outperforming that of the United States in terms of managing the coronavirus pandemic. The delay in the passage of additional U.S. stimulus for virus relief did not help the dollar's cause as well. The dollar's eight straight weeks of losses was its longest run of weakness in a decade, Refinitiv data showed, with Friday's decent batch of U.S. economic data failing to lift the greenback. "The fact is the domestic coronavirus in the United States is the worst epidemic of any comparable economy and that's because of the lack of management from the U.S. authorities," said Ranko Berich, head of market analysis, at Monex Europe in London. "That has meant the outbreak has created a materially worse outlook for the U.S. economy than its peers." Hopes for additional stimulus to combat the pandemic have faded on Friday, with the Senate and House of Representatives in recess and no fresh talks scheduled with U.S. President Donald Trump's negotiators. In late morning trading, the dollar index slipped 0.2% to 93.105, on pace for eight consecutive weeks of losses, the worst losing streak since June 2010. The dollar showed little reaction to data showing a 1.2% rise in the U.S. retail sales' headline number in July, which was lower than expected, but a higher than forecast gain of 1.9%, excluding autos. Other reports such as consumer sentiment and industrial production had little dollar impact on Friday. Against other currencies, the dollar was on track to post its best weekly percentage gain versus the yen in two months. It was last down 0.5% at 106.45 yen. The euro, meanwhile, continued its rise, up 0.1% at $1.1827, rising for eight straight weeks. Growing faith in Europe's rebound and concern about the U.S. response as the coronavirus spreads and politicians remain deadlocked over the next relief package have bolstered the euro. The pound was also 0.4% higher against the dollar at $1.3110, as investors sought to focus on a rebound in growth in June rather than a stunning 20% quarterly contraction. The biggest loser this week has been the New Zealand dollar, which was down 0.8% against the dollar this week, on pace for its worst weekly fall since mid-June. New Zealand has been dealing with a fresh coronavirus outbreak. Moreover, its central bank this week flagged increased bond buying and again mentioned the prospect of negative rates. The New Zealand currency was last up 0.1% at US$0.6553. ======================================================== Currency bid prices at 11:00AM (1500 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR= $1.1827 $1.1812 +0.13% +5.50% +1.1837 +1.1784 Dollar/Yen JPY= 106.4200 106.9200 -0.47% -2.24% +107.0300 +106.4500 Euro/Yen EURJPY= 125.90 126.31 -0.32% +3.25% +126.4700 +125.7500 Dollar/Swiss CHF= 0.9092 0.9096 -0.04% -6.06% +0.9122 +0.9087 Sterling/Dollar GBP= 1.3107 1.3063 +0.34% -1.15% +1.3142 +1.3049 Dollar/Canadian CAD= 1.3247 1.3220 +0.20% +2.01% +1.3270 +1.3206 Australian/Doll AUD= 0.7171 0.7148 +0.32% +2.14% +0.7174 +0.7133 ar Euro/Swiss EURCHF= 1.0755 1.0747 +0.07% -0.89% +1.0761 +1.0742 Euro/Sterling EURGBP= 0.9022 0.9038 -0.18% +6.72% +0.9050 +0.9002 NZ NZD= 0.6554 0.6545 +0.14% -2.70% +0.6559 +0.6527 Dollar/Dollar Dollar/Norway NOK= 8.8980 8.8813 +0.19% +1.36% +8.9499 +8.8681 Euro/Norway EURNOK= 10.5269 10.4930 +0.32% +7.00% +10.5505 +10.4860 Dollar/Sweden SEK= 8.6997 8.6841 +0.22% -6.94% +8.7307 +8.6744 Euro/Sweden EURSEK= 10.2909 10.2680 +0.22% -1.70% +10.2966 +10.2580 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Ritvik Carvalho in London Editing by Marguerita Choy)
Switzerland on Wednesday, August 12, delayed a prohibition on big meetings by a month amid a spear in COVID-19 infections.
The prohibition cancels holding events with no less than 1,000 people until Oct 1.
The government also made obligatory the putting of masks on trips from Aug 15.
On Wednesday, the health authorities confirmed 274 mo
The dollar index is recovering from a losing streak which saw it lose 4% in July. After talks in Washington over the next round of fiscal stimulus broke down, U.S. President Donald Trump signed executive orders on Saturday, partially restoring enhanced unemployment payments to tens of millions of jobless Americans. The dollar index held steady in the Asian session but rose in early London trading on Monday, and was up 1% at 93.532 at 1008 GMT.
Swiss health minister Alain Berset says the mood of the nation has become more irritable with the realisation that coronavirus is not going away anytime soon. His ministry has come under fire for getting its numbers wrong about the pandemic. Berset told the NZZ am Sonntag newspaper that the spirit of national togetherness, observed at the start of the crisis, is starting to unravel. “At the beginning, many people thought that the situation would soon get back to normal,” he said. “It is dragging on with no end in immediate sight. A fatigue has set in.” “Then came some false numbers - a regrettable mistake - and criticism rains down.” The false numbers were contained in a recent health office claim that two-thirds of Covid-19 cases could be traced to bars, clubs and restaurants. It later admitted that the virus was mainly transmitted through families and that hospitality venues were responsible for far fewer cases. Berset said tempers are being worn thin by the continued threat of Covid-19 that has forced the authorities to keep restrictions on public life in place. “Life has changed and become more uncertain,” he said. “There is less close contact and that is less fun. We will all be happy when it is over.” Berset could not say when the pandemic will be over, but said the goal was to avoid a similar situation to March when it threatened to spiral out of control. He denied that cantons and the federal council (central government) were at odds about how to proceed. But he added that there should be a better system for coordinating data from the 26 cantonal health authorities. One long-term measure is to vaccinate the population against Covid-19. This week, the government ordered 4.5 million doses of a vaccine from the US biotech firm Moderna. Berset said this would cover two million of the most vulnerable members of the population and added that other orders are pending.
In the first half of 2020, fintech investment represented 10.4% of all funding going towards Swiss startups. As a comparison, fintech accounted for 15.7% of all invested capital in 2019, showcasing a notable shift in investment trends with investors preferring biotech, according to the Swiss Venture Capital Report Update H1 2020.
Spain is not the only country in Europe to find itself back on a travel red list. As it battles one of the EU's worst Covid outbreaks, Belgium has banned tourism to Lithuania, the U.K city of Leicester and various regions hit by a corona resurgence in France, Spain, Switzerland, Bulgaria and Romania.
Next month's Road World Championships in Aigle–Martigny in Switzerland has been cancelled due to the COVID-19 pandemic, cycling's governing body UCI announced on Wednesday. The championships was scheduled to be held from Sept. 20 to 27 and the UCI said it would not be possible to stage it during those dates…
20 to 27 and the UCI said it would not be possible to stage it during those dates because of the Swiss Federal Council's ordinance banning events uniting more than 1000 people until Sept. 30. "The Union Cycliste Internationale takes note of the Swiss Federal Council's decision – linked to the current COVID-19 pandemic – to maintain, until Sept.
Norway is the latest European country to crack down on travel from a host of neighbors where Covid is making a startling comeback. France, the Czech Republic, Switzerland, Monaco and several Swedish regions have been added to its high-risk “red” list, as quarantine measures bring tourism to a halt.
Switzerland’s Visa Application Center in Manilla, Philippines, will resume its work from today for a selected category of applicants, VFS Global has announced. According to the outsourcing and technology services company VFS global, the centre will accept applications for the selected category, from 9 am to 2 pm, SchengenVisaInfo.com reports. Persons with a visitor visa […]
The economic repercussions of the coronavirus have caused turnover at SWISS to fall by 55% in the first half of 2020.
The study provides an in-depth analysis of the Global Corrosion Monitoring Market for the past years, and the forecast period, 2020-2027. It comprises the market size, Corrosion Monitoring market share, industry dynamics, Porters study, key segments, latest trends, and Corrosion Monitoring company profiles. The information included in the Corrosion Monitoring report is a result of […]