Saturday Papers: US authorises Pfizer/BioNTech's Covid-19 vaccine

Top stories

  • Financial Times: The US has approved the Pfizer/BioNTech Covid-19 vaccine on an emergency basis, with the first shots set to be given within 24 hours.
  • The Daily Telegraph: has warned that a no-deal outcome to Brexit talks is now “very, very likely” after his attempts to negotiate directly with Angela Merkel and were rebuffed three times in a week.
  • The Times: The Royal Navy Police will be given the power to arrest French and other EU fishermen who illegally enter Britain’s waters in the event of a no-deal Brexit.
  • The Times: The pound and Britain’s biggest banks came under pressure as the prospect of a no-deal Brexit spooked the City.
  • Financial Times: The renewed fervour for a piece of highly valued technology IPOs has stirred unease for many investors who remember the dotcom bust with trepidation.

Business and economics

  • The Times: Sequoia Capital, the biggest outside shareholder in AirBnB, has seen its investment of about $260 million bring home a paper profit of nearly $12 billion thanks to the property rental company’s stellar stock market debut.
  • Daily Mail: Disney has predicted its streaming service will have as many as 260 million subscribers by 2024 after a successful first year.
  • The Guardian: A coronavirus vaccine being developed by GlaxoSmithKline and its French partner, Sanofi, will be delayed until the end of next year after trials revealed it failed to produce a strong immune response in older people.
  • Daily Mail: Walmart took a £1.1 billion dividend out of Asda before selling the business to the Issa brothers despite profits falling.
  • The Times: St James’s Place has scrapped annual bonuses for bosses and all staff after the wealth manager fell short of its targets because of the coronavirus pandemic.
  • The Times: Anglo American says it will spend $200 million more than planned next year on building its Yorkshire fertiliser mine and is hiring additional staff as the project gathers pace.
  • The Times: Rolls-Royce has spent even more cash this year than it originally feared, going through its reserves at a rate of more than £1 billion a quarter during the pandemic.
  • The Times: Intercontinental Hotels Group brands has secured a fresh relaxation of its banking covenants amid continued tough trading in the sector.
  • The Daily Telegraph: Shipping costs between Europe and Asia are three times higher than for the same time last year as disruption in global supply chains continues to hammer Britain’s ports.
  • The Guardian: Heathrow could lose 2,000 retail jobs because of the government’s decision not to offer tax-free shopping for tourists, according to the airport’s chief executive.
  • The Guardian: The UK taxpayer is to stop funding fossil fuel projects overseas as part of the government’s push for international action on the climate ahead of a key summit on Saturday.
  • Daily Mail: Bank of England governor Andrew Bailey has urged industry heavyweights to keep lending and support the UK economy.
  • The Daily Telegraph: EU companies risk financial harm from Brexit as the authorities in Brussels are on track to cut them off from parts of Britain’s markets, the Bank of England has warned.
  • The Guardian: A £14 billion class action against Mastercard for allegedly overcharging 46 million British consumers during a 15-year period has been given the green light to proceed.

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