(Bloomberg) -- Coronavirus cases jumped from Florida to Tokyo, sparking concern about a resurgence, while New York reported 23 deaths, the fewest since the pandemic began.Florida infections rose more than the one-week average for a fifth straight day. An infectious disease researcher in Minnesota said the virus will spread until 60% of the population is infected.The International Monetary Fund expects to cut its 2020 global economic forecast. The U.K. will review its rule that people maintain 2 meters of space as stores are set to reopen Monday.Key Developments:Virus Tracker: Cases pass 7.8 million; deaths exceed 430,000College towns fear virus will leave them as U.S. ghost townsSun, octopus, face masks: Greece gambles on rescuing summerBeijing locks down part of city after outbreak at marketAsia’s densest slum has become a model for beating the virusThousands flock to Miami Beach even as Florida hits recordA look at how Iran’s virus fight is tied to...
Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday. Baghdad aims to improve its compliance with its output cut targets under a global deal with OPEC and its allies to reduce oil supply. Iraq has agreed with Russia’s Lukoil to start an additional cut of 50,000 barrels per day (bpd) as of June 13 to lower production from the West Qurna 2 field to around 275,000 bpd....
(Bloomberg) -- Coronavirus cases jumped from Florida to Tokyo, sparking concern about a resurgence. China canceled an economic briefing scheduled for Monday after locking down part of Beijing due to an outbreak at the capital’s largest fruit and vegetable market.Florida Covid-19 cases rose 2.7%, higher than the previous 7-day average of 2.3%. The World Health Organization reported a record 4.5% increase in cases Saturday, with almost 40% in Latin America.The International Monetary Fund expects to cut its forecast for the global economy this year. The U.K. will review its rule that people stay 2 meters (6 feet 7 inches) apart as stores are set to reopen Monday.Key Developments:Virus Tracker: Cases pass 7.8 million; deaths exceed 430,000Beijing locks down part of city after outbreak at marketCollege towns fear Covid-19 will leave them as ghost townsSun, octopus and face masks: Greece gambles on rescuing summerAsia’s densest slum has become a model for beating...
Biotech stocks came under pressure along with the broader market in the week ended June 12, as a worsening pandemic situation and its impact on the economy led to an across-the-board sell-off in the global markets.The week kickstarted with the rumor of a big-ticket acquisition. AstraZeneca plc (NYSE: AZN) reportedly approached Gilead Sciences, Inc. (NASDAQ: GILD) with a bid, although experts and analysts shrugged off the possibility of a deal materializing.The FDA promptly approved Viela Bio Inc's (NASDAQ: VIE) drug for treating neuromyelitis optica spectrum disorder.More importantly, five biopharma companies debuted on Wall Street, raising a combined $983.25 million. The week also witnessed virtual presentations at key conferences such as the European Hematology Association Congress.Here are the key catalysts for the unfolding week.Conferences * The Endocrine Society's ENDO Online 2020: June 8-22 * 25th Edition of the European Hematology Association, or EHA, Annual Congress held in virtual format: June 11-21 *...
