Turkey Decision, Surviving Lockdown, Negative Rates: Eco Day

Philippines Plans to Expedite Covid-19 Vaccine Approvals

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The Philippines plans to cut the approval time for coronavirus vaccines already approved by other nations, fast tracking their emergency use among high-risk individuals in the Southeast Asian hotspot.

President Rodrigo Duterte will issue an order for the nation’s Food and Drug Administration to cut the approval process to three weeks from six months, his spokesman Harry Roque said Thursday. Duterte has also agreed to pay vaccine makers in advance after initially opposing it, Roque said, adding that the private sector has pledged to buy at least 1 million doses.

Philippine authorities earlier said the nation may join clinical trials for vaccines fromRussia andChina’sSinovac Biotech Ltd. this year. The Philippines has the second-worst coronavirus outbreak in Southeast Asia, with over 412,000 infections as of Wednesday.

Live Updates: Who will win the Georgia Senate runoffs?

Sen. David Perdue: Georgia runoff elections are ‘fight of our life’

Republican joins ‘Hannity’ to look ahead to Jan. 5 votes that will determine whether GOP holds Senate majority

As Georgia descends into two bitter runoffs that will determine the fate of the Senate’s control, the question remains who will prevail?

Senate Democratic candidates Jon Ossoff and Raphael Warnock are believed by some to be the underdogs in the upcoming January runoff election against incumbent candidates Senators David Perdue and Kelly Loeffler. 

An analyst, however, believes the GOP may lose both GA Senate seats. The GOP effort to raise big bucks for Georgia Senate runoffs is currently a 50-state effort.

FAST FACTS

    • Sen. Lindsey Graham, R-S.C., has thrown his weight in the race by donating $1 million
    • The Democrats must win both of Georgia’s runoff elections to make it a 50-50 Senate

    Republicans hope to maintain the GOP’s majority in the chamber.

    Follow below for more updates on the Georgia Senate runoffs. Mobile users click here.  

    Amazon restructures drone program, cuts jobs

    Fox Business Flash top headlines for November 18

    Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.

    Amazon is reorganizing its delivery drone project, laying off dozens of workers

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    The employees are in the R&D and manufacturing area, according to The Financial Times.

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    The move reportedly comes after the company reached tentative deals with two external manufacturers to build component parts.

    Those companies are said to be Austria's FACC Aerospace and Spain's Aernnova Aerospace.

    AMAZON SCORES RECORD SALES FOR ANY THREE-MONTH PERIOD EVER

    The drone project has been seven years in the making and has been a focused on a future way to deliver smaller packages.

    TickerSecurityLastChangeChange %
    AMZNAMAZON.COM INC.3,105.46-30.20-0.96%

    An Amazon spokeswoman confirmed the lay offs to The Financial Times.

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    It is not known how many employees were working on the drone project.

    Royal Mail H1 Pretax Profit Falls; Revenue Up 9.8% – Quick Facts

    Royal Mail Plc (RMG.L) reported profit before tax of 17 million pounds for the 26 weeks ended 27 September 2020 compared to 173 million pounds, previous year. Earnings per share was 1.4 pence compared to 15.3 pence. Adjusted Profit before tax declined to 18 million pounds from 146 million pounds. Adjusted earnings per share was 0.4 pence compared to 11.1 pence.

    First half revenue was 5.67 billion pounds, an increase of 9.8% from previous year. Group revenue growth was driven by strong parcel growth at both Royal Mail and GLS.

    Keith Williams, Interim Executive Chair, stated: “Revenue growth was nearly 10% for the Group in the first half, with Royal Mail revenue up nearly 5%. For the first time, parcels revenue at Royal Mail is now larger than letters revenue, representing 60% of total revenue, compared with 47% in the prior period. GLS delivered strong revenue growth of 21.7%, with adjusted operating margin up by 300 basis points. B2C accounted for 56% of GLS volume in the first half.”

    Royal Mail Plc does not expect dividends to be paid in respect of fiscal 2020-21. The Group plans to re-commence dividend payments in fiscal 2021-22.

    Turkey Decision, Surviving Lockdown, Negative Rates: Eco Day

    Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

    • Turkey’s new central bank governor gets an early chance today to act boldly on his market-friendly messaging, buoyed by the apparentblessing of President Recep Tayyip Erdogan
      • It’s also rate decision day inSouth Africa,Indonesia and the Philippines
      • The European Union is facing what looks like a grueling battle to persuade Hungary and Poland to row back threats endangering billions of euros ofpandemic-relief and budget funds
      • Fewer Americans said they wereworking as the latest wave of the coronavirus infections surge across the U.S., according to data released by the Census Bureau