FT News Briefing Australia vaccine funding, Sinopharm’s global push, ECB accelerates stimulus
Mar 12, 2021
Australia is considering a major investment in a biopharmaceutical plant to lessen its dependence on imported medicines. Meanwhile, China's Sinopharm is striving to enhance its global vaccine credibility amid challenges. Spain is leading the EU by granting gig economy workers employee rights, reflecting a significant labor shift. Additionally, the European Central Bank is accelerating its bond buying to stabilize markets amid inflation concerns, as retail investors continue to reshape market dynamics.
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Australia's Vaccine Self-Sufficiency Push
- Australia is considering a $1 billion biopharmaceutical plant investment.
- This aims to reduce reliance on imported medicines and vaccines after Italy blocked a vaccine shipment.
Sinopharm's Global Struggle
- Sinopharm, a Chinese state-run vaccine maker, faces challenges in global expansion.
- They struggle with transparency and data sharing, hindering trust with regulators.
Spain's Gig Worker Reform
- Spain will grant employee status to gig workers, including collective bargaining and algorithm transparency.
- This follows EU court rulings against the self-employed model for these workers.