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Here’s what you need to know
Global stock exchanges face major shake-ups. Hong Kong’s Hang Seng has proposed increasing the number of constituent stocks, while the US Securities and Exchange Commission has approved the New York Stock Exchange’s plan to allow primary direct listings.
An Indian Covid-19 vaccine could be coming to the US. Bharat Biotech has teamed up with US-based Ocugen to bring its Covaxin jab to the US market.
France allows EU nationals to return from the UK. Travelers will have to show proof of a negative Covid-19 test. The temporary border closure was an attempt to keep out a new strain—but it’s unlikely to have made a difference.
The US accused Walmart of worsening the opioid crisis. A Justice Department lawsuit alleges the retailer’s understaffed pharmacies failed to flag questionable prescriptions.
India’s ruling party doubled down on new farm laws. A spokesperson for prime minister Narendra Modi’s Bharatiya Janata Party said there was “no question” of repealing the laws that farmers have been protesting for weeks.
What to watch for
Seeking Sinovac’s Phase 3 trial data. The Chinese-developed Covid-19 vaccine, CoronaVac, is at the center of the vaccination plans of Brazil’s richest state, São Paulo. It’s also at the center of a spat between the state’s governor and Brazilian president Jair Bolsonaro, a China critic who opposes the use of Sinovac’s vaccine.
Brazil unveiled national vaccination plans this month—focused singularly on the Oxford/AstraZeneca vaccine. And last week, the country’s health regulator Anvisa criticized China’s emergency-use procedures for vaccines including CoronaVac as lacking transparency—if the federal agency doesn’t approve its emergency use, it’s unclear how São Paulo could use it.
It might help if the US-listed Chinese biotech firm were to make its Phase 3 trial data public. The Brazilian vaccine institute that worked with Sinovac to conduct the trials had earlier targeted Dec. 18 for the data release. It didn’t happen, but São Paulo’s governor has since said that the data should be published today. 🤞
Charting the UK’s post-lockdown purchases
Consumer spending in the UK rebounded in the third quarter of 2020 as strict coronavirus restrictions eased starting in June. In restaurants and hotels, there was an increase of 566.3% in spending compared to the second quarter. But consumers also spent money on getting their teeth fixed and their clothes cleaned.
Only a handful of categories saw significantly lower spending in the third quarter: footwear repair; newspapers, books, and stationery; major household appliances; and beer.
Peddling snake oil
“They were merely a financial company that sought to sponsor the construction of the refinery through an intermediary. From what I have determined personally, they have no ability to carry out such infrastructure projects themselves.” —Mulugeta Damtew Seid, Ethiopian Mineral, Petroleum and Biofuel Corporation (EMPB)
An Ethiopian-American investor and his partners are on the brink of pulling off an elaborate scheme.
Nebiyu Getachew, 48, chief executive of GreenComm Technologies, a Virginia-based energy firm, signed a $3.6 billion deal with Ethiopia’s ministry of Mines and Petroleum on April 28 to construct an oil refinery in Ethiopia’s oil-rich Somali region. But checks reveal little evidence GreenComm Technologies and its key executives have the expertise or experience to take on this major project. How did they pull the wool over Ethiopia’s eyes? Quartz Africa investigates.
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Surprising discoveries
Covid-19 is now on all seven continents. The virus finally reached Antarctica via a Chilean research station.
Carrot the deer is on the mend. After wildlife officials removed an arrow through his head, the whitetail deer was spotted out for a stroll.
Working from home is a pain in the back. Chiropractors have seen a huge uptick in demand during the pandemic.
T-Mobile is not tickled pink right now. The telecom’s parent company lost its exclusive right to use the color magenta in France.
Joe Biden gets an unwelcome reset. Twitter said it would return the @POTUS and @WhiteHouse accounts to zero followers when the president-elect takes office.
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