U.S. bond interest rates fell from their highs, alleviating market participants’ concerns about inflation, and driving the Dow to soar by more than 600 points. The Dow closed at 31,543 points, up 611 points, or 1.98%. The S&P 500 closed at 3,879 points, up 68 points, or 1.8%. The Nasdaq closed at 13,421 points, up 229 points, or 1.74%.
Russia registered third coronavirus vaccine. Coronavirus continues to be a serious barrier for the world economies. Currently, there over 111 million infected and over 2.4 million deaths around the globe. The new vaccine was developed by the Chumakov Federal Scientific Center for Research and Development of Immune-and-Biological Products of Russian Academy of Sciences.
The Coronavirus pandemic continues to be at the forefront of major news around the globe. Currently, there are over 110 million cases and over 2.4 million deaths around the world. The Russian Sputnik V vaccine is becoming very popular in Latin America and the demand for the vaccine continues to increase.
The United Kingdom’s Office for National Statistics announced that retail sales in the United Kingdom decreased by 8.2% month-on-month in January, which is expected to decrease by 2.5%. The year-on-year decrease is 5.9%, which is expected to decrease by 1.3%. During the period, retail sales excluding energy decreased by 8.8% month-on-month.
In its latest report, Standard & Poor’s (S&P) anticipates that India’s economy will rebound 10% in the next two years. This comes as a major relief for the many Indian professionals who had to deal with cutbacks and job cuts at the lowest level in their lives. The current recession has affected every sector of the Indian economy.
The European Union lowered the economic growth rate of the Eurozone this year to 3.8%, which was previously expected to rise 4.2%. Among them, the economy is expected to contract by 0.9% year-on-year in the first quarter. The EU pointed out that the current risk is still quite high.
The Coronavirus pandemic continues to be a major factor around the world. Currently, there are over 107 million infected and over 2.3 million deaths around the globe. Many countries are experiencing shortages of the COVID-19 vaccines. The COVID-19 restrictions continue to hurt the global economies.
The World Health Organization (WHO) team investigating the origin of the coronavirus in Wuhan, China, has certified the animal origin of the virus. However, it considers that no sufficiently solid evidence has been found to conclude that it originated from bats or pangolins, which it has identified as “potential candidates.”
The giant oil group Royal Dutch Shell announced a large net loss of $21.7 billion in 2020 due to lower energy prices and the massive decline in demand for it due to the Coronavirus epidemic. The Dutch-British group said in a statement that it made a net profit of $15.8 billion in 2019, before the start of the health crisis.
Israel’s attention is focused on the March elections. Many consider the leadership of Prime Minister Netanyahu insufficient to meet the needs of the public amidst the Coronavirus Pandemic. The Israeli public is frustrated by the lockdown that is planned to be extended for another week because of the still-soaring infection rate.
Nintendo has increased its expectations for full-year revenue, earnings, and shipments for its Switch gaming console. The numbers are not enough to fight predictions and are disappointing. Nearly 11.5 million units of Switch were sold and almost 78 million copies of Switch applications were delivered during the December quarter.
The European Union has applied a special article of the annex to the Brexit treaty to impose restrictions on the supply of coronavirus vaccines from the EU-member Republic of Ireland to Northern Ireland, which is part of the United Kingdom Causing a sharp reaction in the UK.
Chinese president Xi Jinping spoke at the Davos Economic Forum. President Xi’s speech touched on the equality of the international relations. However, due to the Coronavirus pandemic, the forum was held in the online format. Earlier this week, Russian President Vladimir Putin spoke at the forum as well.
The year 2020 closed as the worst year in the history of tourism, with 1 billion fewer international arrivals in the world and losses estimated at more than €1 trillion caused by the coronavirus pandemic. As reported on Thursday by the World Tourism Organization (UNWTO), the figures represent a 74% drop in the volume of tourists compared to 2019.
This week, on Wednesday, Holocaust Remembrance Day was observed around the world. Of course, the commemoration could not be like every year, but the message of remembrance of the Holocaust is necessary to be repeated every year. There is always the fear of genocide, which, after the Holocaust, can never be accepted.
On Friday, the World Health Organization (WHO)’s team will visit laboratories and markets in Wuhan, China, as part of an investigation into the origin of the emerging virus, which infected and killed millions around the world within about a year of its discovery. More than 2 million people have died as a result of more than 101 million infections worldwide.
Mexican President Andrés Manuel López Obrador has tested positive for COVID-19. He relayed this via a tweet on Sunday in which he indicated that the symptoms were mild. He remained optimistic about getting back to work soon. The president has over the past year been criticized for failing to adhere to precautionary measures.
On Sunday, the Russian program, The Kremlin and Putin, released the Russian President, Vladimir Putin’s itinerary. The schedule included President Putin attending the Davos Forum. The Coronavirus pandemic made it impossible to conduct the forum in the real life setting.
European Central Bank President Christine Lagarde said the economic data from the fourth quarter of last year showed the eurozone’s economic recovery process has been delayed. Lagarde made these remarks at the 25th meeting of the World Economic Forum Dialogue, “Davos Agenda.”
According to the the Census Bureau of the U.S. Department of Commerce, the estimate of U.S. retail e-commerce sales for the third quarter of 2020, adjusted for seasonal variation, but not for price changes, was $209.5 billion, a decrease of 1.0 percent (±0.7%) from the second quarter of 2020.
The lockdown in Israel against the Coronavirus has been extended for another two weeks. The lockdown has not been successful in getting down the number of daily infections. Instead, Israel has seen a change in the number of younger people that have become hospitalized from the Coronavirus in the last two weeks.
China’s GDP increased by 6.5% in the last quarter of 2020, completing the year with an annual mark of 2.3%. The figures are courtesy of the official data published on Monday by the National Bureau of Statistics. By recording a positive outturn, China succeeded in turning around a year that began with the coronavirus threatening to become a thorn in its flesh.
Two million Israelis have already received first dose of the Pfizer vaccine, over 20% of the Israel population. An additional 110,000 have already received the second dose. Prime Minister Benjamin Netanyahu says that vaccination campaign success will allow Israel to ease restrictions while Europe plans lockdowns well into March and April.
Russia is to start production of the Sputnik V Coronavirus Vaccine in Brazil this week. Currently, Russia has seven factories that are producing two Russian-developed vaccines. The Brazilian Pharmaceutical company Uniao Quimica partnered with the Russian Direct Investment Fund to produce the vaccine in Brazil.
Iran’s Supreme Leader, Ayatollah Ali Khamenei on Friday announced a ban on COVID-19 vaccines originating from the United States and the United Kingdom. The Supreme Leader said that he has no iota of trust in the two countries. Notably though, Tehran says it is currently developing its own vaccine.
During the opening of the 8th Congress of the Workers’ Party of Korea on Tuesday, North Korea’s leader Kim Jong-un admitted that his government’s policies to rebuild the country’s economy had failed. Kim added that it is necessary to learn from “painful lessons” of the past few years.
Germany faces weeks of more social, economic, and movement restrictions. An agreement was reached on Tuesday by the federal government and the executives of the nation’s 16 federal states to close most non-food shops, bars, restaurants, cultural and leisure facilities and schools.
The chief economist of the Organization for Economic Co-operation and Development (OECD), Laurence Boone, has sounded a warning to governments across the globe against too rapid a transition to savings after heavy investments made to keep the economy afloat during the coronavirus pandemic.
British Prime Minister Boris Johnson has postponed an official trip to India, scheduled for January, which would have been his first major trip abroad after the COVID-19 pandemic worsened, Downing Street announced today. As a reason for his cancellation, Prime Minister Johnson cited the need to oversee the pandemic response at home.
After the new high in 2020, the U.S. stock market fell across the board and encountered a black New Year. The Dow fell nearly 400 points, and once fell below the psychological barrier of 30,000 points. Gold and silver stocks bucked the trend and rose. Qutoutiao rose more than 22%, Bilibili rose more than 10%, Weilai rose more than 9%, and Pinduoduo fell more than 6%.
Citizens from the United Kingdom, with a residence in Spain, have been stopped from flying to Spain this weekend. Spain has strict COVID-19 regulations that prevented some Britons from flying to and from Spain. Several travelers have had trouble returning to their home countries after airlines refused to accept their proof of national travel cards.
According to the latest official data released today by the British Ministry of Health, in addition to chaining five consecutive days with more than 50,000 infections per day, another 445 deaths from the disease were recorded, a slightly lower number than the 613 reported yesterday.
At the beginning of the new year, Portugal took over the rotating presidency of the European Council from Germany for a six-month term. In the face of the still severe new coronavirus epidemic, the task of the new rotating presidency will still be quite arduous. The slogan of the new EU presidency, Portugal, is “Start Action: Rebuild a Just, Green, and Digital Europe.”
On New Year’s Day, almost all parts of the world are quieter than in previous years, without large-scale celebrations or amazing fireworks. Due to the COVID-19 pandemic, the atmosphere is very different from previous years. People will usher in 2021 with the desire to end the new coronavirus pandemic.
According to data released by the Department of Labor on Thursday, in the week ending December 26, the number of people applying for state regular unemployment benefits for the first time fell by 19,000 to 787,000, which was lower than the median estimate of 835,000 forecasted by economists.
Mexican drug cartels used a host of new methods to maintain operations amid the coronavirus restrictions and increased crackdowns at the border. According to a New York Times investigative report, narco-trafficking cartels, like other legitimate businesses, were severely impacted during the pandemic.
European Commission President Ursula von der Leyen said on Twitter that the EU will purchase an additional 100 million doses of the new coronavirus vaccines, developed by BioNTech and Pfizer. The EU will have a total of 300 million doses of the vaccine. The vaccine has been administered throughout the EU and is considered safe and effective.
This year has been tumultuous for Ukraine. The Coronavirus pandemic and the rampant corruption has lead to an economic collapse in the country. Furthermore, the situation with Russia will not be resolved. Ukraine may get its wish with newly elected US president Joe Biden.
On December 28, the President of Russia, Vladimir Putin, made an announcement preplanning 2021 as the year of technology and innovation. The Kremlin is expected to give out the largest amount of grants to the defense sector in history. According to President Putin, this year was a breakthrough year in Russia for innovation.
The US dollar exchange rate continued to weaken, and the US stock market fell in the afternoon to provide support for safe-haven assets, and gold futures closed up slightly. Gold futures for February delivery closed up $2.50, or 0.1%, to $1,882.90 per ounce. Gold futures fell 0.1% on Monday.
US President Donald Trump decided to change his policy over the weekend and signed a bill that includes the $ 900 billion in aid to consumers and small businesses. However, crude oil futures increased production due to the spread of the epidemic and OPEC+ expectations intensified. Crude oil gave up early gains and closed slightly lower.
According to reports, on Monday evening, the U.S. Congress passed a large-scale COVID-19 assistance program that allocated $7 billion to help Americans obtain high-speed broadband services and pay monthly fees. This is one of the largest one-time broadband investments in US history.
A Chinese citizen journalist has been sentenced by a court in Shanghai to four years in prison. Zhang Zhan was accused of having reported from Wuhan when the coronavirus broke out in the city, something the Chinese authorities didn’t want exposed. The journalist’s sentencing has been confirmed by one of her defense lawyers, Ren Quanniu.
After much delay, US President Donald Trump finally signed the US coronavirus stimulus package and government funding bill. The move frees $2.3 trillion for emergency aid to help those affected by the coronavirus pandemic and funds the federal government, avoiding a shutdown.