FT News Briefing Trump considers fast-tracking vaccine, dividends fall in pandemic, Neiman Marcus bankruptcy fallout
Aug 24, 2020
The Trump administration is pushing to fast-track a UK Covid-19 vaccine for rollout in the US, raising political eyebrows. Meanwhile, global dividends have plummeted, facing their worst decline in a decade due to pandemic effects. The financial landscape gets murkier with the Neiman Marcus bankruptcy, where hedge fund manager Dan Kamensky finds himself in hot water over controversial tactics. As Neiman Marcus navigates its turbulent waters, the economic fallout continues to ripple through the retail sector.
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Fast-Tracked Vaccine
- The White House considered fast-tracking a UK vaccine from AstraZeneca and Oxford University for use in America before the 2020 election.
- This plan aimed to address criticism of the Trump administration's pandemic response and present a political advantage.
Vaccine Study Discrepancy
- The proposed fast-tracked vaccine relied on a 10,000-person UK study.
- However, US agencies recommended a much larger 30,000-person study for vaccine approval.
Vaccine Politics
- Trump saw vaccine development speed as a political win, despite the pandemic's death toll.
- This allowed him to claim progress in combating the virus, a key campaign issue.