FT News Briefing Moderna CEO: no vaccine before US election, digitising Japan’s economy, west’s gold investment
Oct 1, 2020
Moderna's CEO reveals that a COVID-19 vaccine won't be ready before the US election, raising questions about public health timing. Meanwhile, Japan is tackling digital transformation as it modernizes its economy and telecom sector. On another front, the rising interest in gold among western investors is highlighted, driven by economic uncertainty and low bond yields, making it a sought-after asset. The podcast also delves into the changing dynamics of gold demand in traditional markets post-pandemic, especially in India and China.
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Vaccine Timeline
- Moderna's CEO, Stephane Bancel, states that their vaccine won't be ready before the US election.
- Full FDA approval and distribution to all Americans is expected by spring 2021.
Japan's Digital Leap
- Japan's new PM, Yoshihide Suga, is prioritizing digitizing the economy.
- This initiative aims to modernize bureaucratic processes, including reducing reliance on fax machines and physical stamps.
NTT Privatization
- NTT, Japan's former telecoms monopoly, will take its mobile unit private for $40 billion.
- This move coincides with Suga's plan to reduce mobile fees, which are among the world's highest.