Global markets roared higher in a rally led by companies hit hardest by the pandemic after Pfizer and BioNTech revealed a breakthrough in the race to find a vaccine for Covid-19 (The Financial Times £).
Shares in the battered travel, leisure and hospitality sectors rallied yesterday after results from Pfizer’s Covid-19 vaccine trial were better than expected (The Times £).
A major breakthrough in the development of a coronavirus vaccine could deliver a vital boost of confidence to consumers and businesses, the Bank of England’s chief economist has said (The Times £).
Oil prices surged more than 8 per cent on this afternoon as traders bet that a vaccine could revive global travel and lead to a recovery in fuel demand (The Times £).
A former Unilever executive is spearheading a £1bn bid to buy Clearasil, Veet and other prominent personal care brands, according to Sky News. Vindi Banga, who spent more than three decades at Unilever, is overseeing an offer from Clayton Dubilier & Rice for the portfolio of brands owned by Reckitt Benckiser.
Ocado is facing a second legal claim in as many months over allegations that it stole patents and technology from a Norwegian robotics company (The Times £).
The brothers from Blackburn who are behind the £6.8bn takeover of Asda are expanding their empire in the US with the acquisition of Schrader Oil, which operates 18 convenience stores and petrol stations in northern Colorado (The Times £).
To the Filet-o-Fish, McChicken Sandwich, Bacon Double Cheeseburger and, of course, the Big Mac, the world’s largest restaurant chain is planning to add the McPlant (The Times £).
Shares in Beyond Meat lost more than a quarter of their value on Monday after the company said consumers had stuffed their freezers full of its plant-based burgers during lockdown earlier this year and dramatically slowed purchases since (The Financial Times £).
Footfall has plummeted since the imposition of the new lockdown in England and is down by 75% on a year ago, according to figures from British Retail Consortium and ShopperTrak highlighting the dramatic impact of the tough new restrictions on retailers (The Guardian).
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