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Pharmaceutical industry

Global Markets React to UK Government's Covid-19 Restrictions and Brexit Talks

Strategic Insights

— 2 min read

The UK government has imposed strict Covid-19 restrictions on nearly 99% of England, effective December 2, prompting a furious reaction from Boris Johnson's Conservative Party. The new measures, which ban indoor mixing between households, will affect millions of people across the country. Meanwhile, AstraZeneca's coronavirus vaccine has faced scrutiny over its efficacy, with the company's CEO, Pascal Soriot, acknowledging that further research is needed. In a separate development, US stocks are expected to open higher after the Thanksgiving holiday, while Brexit talks are set to resume in London. Banco Bilbao Vizcaya Argentaria (BBVA) and Banco de Sabadell have ended talks over a potential merger.

Key Takeaways:

  • The UK government has asked its independent medicines regulator to assess AstraZeneca's coronavirus vaccine as part of the formal approval process, with the aim of rolling out the vaccine by the end of the year.
  • 366 of JD Wetherspoon's 870 pubs will remain closed due to the new Covid-19 restrictions, with 315 in Tier Three and 51 in Northern Ireland and Scotland.
  • Banco Bilbao Vizcaya Argentaria (BBVA) and Banco de Sabadell have ended talks over a potential merger, with BBVA posting a net loss of EUR15 million for the first nine months of 2020.
  • Germany is set to take out almost EUR180 billion in new debt next year, according to the nation's 2021 budget, which has grown in recent weeks to allow for the mounting costs of the pandemic.
  • President Donald Trump has said for the first time that he would leave the White House if Joe Biden is officially confirmed the winner of the US election.
  • The UK Prime Minister Boris Johnson is facing a Tory revolt over his post-lockdown plans, with the severity of the new restrictions prompting widespread criticism.
  • Nearly 99% of England will be placed into Tier 2 and Tier 3 measures when the second national lockdown ends on December 2, with only the Isle of Wight, Cornwall, and the Isles of Scilly facing the lightest Tier 1 restrictions.

Statistics:

  • 366 JD Wetherspoon pubs will remain closed due to Covid-19 restrictions.
  • 315 JD Wetherspoon pubs are in Tier Three.
  • 51 JD Wetherspoon pubs are in Northern Ireland and Scotland.
  • EUR180 billion: Germany's planned new debt in 2021.
  • EUR498.6 billion: Germany's expected expenditure in 2021.
  • 306: Electoral College votes received by Joe Biden.
  • 232: Electoral College votes received by Donald Trump.
  • 99%: Proportion of England affected by Covid-19 restrictions.
  • 41.5%: Proportion of the population in Tier 3.
  • 23.3 million: Number of people in Tier 3.
  • 57%: Proportion of the country in Tier 2.
  • 32 million: Number of people in Tier 2.

Sources:

  • Alliance News Limited.
  • Bloomberg.
  • BBC News.
  • Financial Times.
  • Reuters.

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