South Africa will offer its stock of coronavirus vaccines that were developed by AstraZeneca Plc and the University of Oxford to the African Union after they were found to have little impact on mild infections caused by a variant of the virus first identified in the country last year.
Magma Fincorp Ltd., an Indian financier for vehicles and homes, surged to the highest in 19 months after the chief executive officer of the world’s biggest maker of vaccines said he’s buying control of the shadow lender.
Cancelation of Germany s carnival will result in $1.8 billion loss nationwide, economic institute says
From CNN s Nadine Schmidt and Claudia Otto
The cancelation of Germany’s popular annual carnival celebrations, which involve stage events, stalls and parades, will lead to a
nationwide loss of 1.5 billion euro (
$1.8 billion), according to the Cologne-based German Economic Institute (IW).
Retailers and hotels will suffer the greatest economic losses, according to IW. It estimates about 330 million euro ($400 million) will be lost in the retail sector, the bulk of it from lost revenue in costume sales.
The hotel industry, which would typically take high numbers of bookings at this time of year for the celebrations, will lose an estimated 160 million euro, IW said in a press release on Monday.
AstraZeneca Plc’s Covid-19 vaccine is worth using in areas hit by mutated strains of the virus, World Health Organization officials and partners said, countering concerns about reduced effectiveness that arose in a recent test.