FT News Briefing Covid vaccine lifts stocks, Nikola’s legal bills pile up, India takes aim at Google
Nov 10, 2020
A breakthrough Covid-19 vaccine fueled a global stock rally, especially in travel and aerospace sectors. The vaccine's impressive 90% effectiveness showcases innovative mRNA technology, with distribution plans underway. Meanwhile, Nikola faces mounting legal troubles amid fraud allegations and an active investigation by the U.S. Department of Justice. In India, the competition watchdog launches a detailed probe into Google's mobile app store and payment service, potentially reshaping the tech landscape.
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Vaccine Fuels Market Rally
- Pfizer/BioNTech's 90% effective COVID-19 vaccine announcement fueled a global equity rally.
- This positive market reaction highlights investor confidence in the vaccine's potential economic impact.
Phase Three Trial Results
- Over 43,000 people participated in the phase three trial of the Pfizer/BioNTech vaccine.
- Independent assessors confirmed the vaccine's high effectiveness, exceeding regulatory requirements.
Novel mRNA Technology
- The vaccine uses novel mRNA technology, allowing faster development than traditional methods.
- This success is a significant achievement for mRNA technology in vaccine production.