FT News Briefing WHO cautions against remdesivir, wildfires and wine, Venezuelan oil as a stranded asset
Nov 20, 2020
The World Health Organization advises against using remdesivir for COVID-19 patients, stirring discussion about treatment protocols. Wildfires are threatening the wine industry as climate change affects grape quality and production. Meanwhile, Venezuela's oil sector faces a grim future, with experts warning it could become a major stranded asset due to geopolitical tensions and the global shift towards decarbonization. The struggles of these sectors highlight interconnected challenges in health, environment, and economy.
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WHO Advice on Remdesivir
- The WHO advises against prescribing remdesivir to hospitalized COVID-19 patients.
- Their study found no significant benefits on mortality, hospitalization time, or ventilation needs.
Treasury vs. Fed
- The US Treasury and Federal Reserve disagree on extending emergency lending facilities.
- Mnuchin wants the unused $455 billion for other Congressional spending, while the Fed prefers maintaining the economic backstop.
Wildfires and Wine
- Wildfires are increasingly challenging the wine industry, impacting grape crops and necessitating supply chain diversification.
- Smoke taint from the fires affects the flavor, forcing companies like Naked Wines to increase testing.