Fidelity Top Stories
Markets underestimate potential for Covid-19 therapies to support re-opening US economy
The road to re-opening America's economy will be "long" and the final destination will only be reached when a vaccine for the Covid-19 coronavirus is found, analysts at Morgan Stanley warned.
AstraZeneca surges on Covid-19 drug trial
AstraZeneca shares surged on Tuesday after the pharmaceuticals giant said it will start a clinical trial to assess the potential of Calquence (acalabrutinib) in the treatment of the exaggerated immune response associated with Covid-19 in severely ill patients.
Airline Covid-19 losses set to hit $314bn - IATA
Estimated airline losses from the coronavirus pandemic were now expected to hit $314bn as flight restrictions continued and the impact on Africa and Latin America became more severe, the industry's representative body said on Tuesday.
France scraps GDP forecasts; Sees 8% fall in 2020
The French economy was expected to shrink by 8% this year as an extended coronavirus lockdown forced the government to ditch forecasts issued only last week.
UK likely to extend coronavirus lockdown as science experts meet
The government’s top scientific advisers are set to meet on Tuesday to review the effectiveness of the coronavirus lockdown even as ministers anticipate an extension.
'V is for Vaccine', BofA says
Strategists at Bank of America still saw scope for one more leg up in equities due to investors' still "very bearish" positioning.
South Africa slashes rates again in surprise move
South Africa's central bank made a surprise cut to its benchmark rate as it moved to deal with the global impact of the coronavirus pandemic.
NMC administrators sack old board, bring in new non-execs
New administrators at troubled Gulf hospital operator NMC Health threw out the old board and brought in four new non-executive directors to handle the group's restructure.
JP Morgan amasses reserves in Q1 ahead of 'fairly severe recession'
JP Morgan posted "extremely good" underlying results for the first quarter of 2020, although its bottom line took a multi-billion dollar hit as America's largest lender by market value amassed reserves in anticipation of a "fairly severe recession".
Mitchells & Butlers wins temporary waiver on financing terms
Pub and restaurant chain Mitchells & Butlers said it had secured a waiver from lenders to avoid a breach of its financing terms due to the coronavirus lockdown.