EUROPEAN MIDDAY BRIEFING: stocks mixed before -2-

The proposal by the Paris-based European Banking Authority is the latest step by the EU to harmonize anti-money laundering rules in member states and to move implementation away from national authorities.

   
 
 

Novavax is delaying US approval application for Covid-19 vaccine

Novavax Inc. said it will delay applying for a U.S. emergency approval for its Covid-19 vaccine until the fourth quarter as it works to complete the manufacturing portion of its application.

“The manufacturing part was most of the work we had to do,” said Stanley Erck, CEO of Novavax, in an interview on Thursday. “Hopefully October for the FDA, but we haven’t picked a date.”

   
 
 

Belarusian coaches thrown out of the Olympic Village for removing athletes

TOKYO – The International Olympic Committee revoked two Belarusian coaches from their accreditation and expelled them from the Olympic Village for participating in forcing an athlete to return home.

Belarusian sprinter Krystsina Tsimanouskaya said members of the Tokyo national team took her to the airport on Sunday to send her home against her will after publicly criticizing the team’s coaches. Ms. Tsimanouskaya, fearing for her life, did not board the plane if she were to return home and is now in Poland, where she received a humanitarian visa.

   
 
 
   
 
 

GLOBAL NEWS

Business groups urge Biden to resume trade talks with China

WASHINGTON – Nearly three dozen of the country’s most influential corporate groups – retailers, chipmakers, farmers and others – are calling on the Biden government to resume negotiations with China and cut import tariffs as they put a brake on the US economy.

Tariffs on electronics, clothing and other Chinese goods paid for by US importers have been partially retained to ensure China meets its obligations under its 2020 Phase 1 trade pact with the US

   
 
 

CBO estimates that an infrastructure bill would increase the deficits by $ 256 billion

The WASHINGTON Congress impartial scorekeeper noted that the roughly $ 1 trillion Infrastructure Bill would add $ 256 billion to the federal budget deficit over 10 years, countering negotiators’ claims that the price would be driven by new revenue and Austerity would be covered.

The score was released when the Senate tabled amendments to the bill this week and did not pose any immediate obstacles to the final approval of President Biden’s economic agenda.

   
 
 

German industrial production fell unexpectedly in June

German industrial production fell in June and fell short of expectations for an increase in the face of widespread supply bottlenecks, the Destatis statistics office announced on Friday.

Total industrial production – consisting of production in the manufacturing, energy and construction sectors – fell by 1.3% in June compared to May, adjusted for the calendar year. According to a survey by the Wall Street Journal, economists had forecast an increase of 0.5%.

   
 
 

RBA discussed suspension of QE rejuvenation; Monitoring the Covid crisis

SYDNEY-The Reserve Bank of Australia debated at their political meeting on Tuesday suspending a planned reduction in their weekly government bond purchase program, but opted to allow fiscal stimulus to give the economy a hard boost as the country faced a possible relapse in the recession faces a worsening Covid-19 outbreak.

Speaking to Parliament on Friday, RBA Governor Philip Lowe said the central bank’s board of directors would be ready to adjust political attitudes should conditions in the economy deteriorate further in the coming months.

   
 
 

China’s crackdown has only just begun. Signs indicate more commotion.

In the past few months, China has blown up the world’s largest public offering, investigated some of its largest tech companies, and wiped out more than $ 1 trillion in market value as investors hunt for cover.

There are many signs that it is not over yet.

   
 
 

Covid-19 vaccination rates rise where the delta variant spreads

Covid-19 vaccination rates are rising in the US, federal officials said, especially in areas where the Delta variant hits the hardest.

Concerns about the virus, growing confidence in the safety of vaccines, and the influence of family and friends are likely to contribute to the surge in vaccine intake, health officials and local residents say. More and more employers are also starting to issue vaccination mandates. The U.S. has given more than 864,000 doses of Covid-19 vaccines in the past 24 hours, including 585,000 first-time vaccinations, White House Covid-19 Response Coordinator Jeff Zients said Thursday during a media briefing.

   
 
 

Business groups urge Biden to resume trade talks with China

WASHINGTON – Nearly three dozen of the country’s most influential corporate groups – retailers, chipmakers, farmers and others – are calling on the Biden government to resume negotiations with China and cut import tariffs as they put a brake on the US economy.

Tariffs on electronics, clothing and other Chinese goods paid for by US importers have been partially retained to ensure China meets its obligations under its 2020 Phase 1 trade pact with the US

   
 
 

Senate Bill Repeal of Permits for Iraq War Marks Key Level of GOP Support

WASHINGTON-Ten Republican Senators co-sponsored bipartisan bill to revoke the 1991 and 2002 permits for the use of military force in Iraq, an important threshold required to break a Senate filibuster.

This is the latest sign that lawmakers on both parties are picking up steam in their efforts to regain Congressional constitutional power to declare war, the culmination of years of debates about the Commander-in-Chief’s leeway to send troops overseas, and a reflection of the dwindling Public support for America’s so-called Eternal Wars.

   
 
 

Canadian negotiators race to avoid border growls for trade, US tourists

OTTAWA talks, under the supervision of a mediator, resumed late Thursday between Canada and the union that represents its border guards in an effort to prevent a labor operation threatening the flow of trade between the US and Canada and a plan that will start Friday allowing American tourists for the first time in 16 months.

The two sides agreed to work with a mediator before the Public Service Alliance of Canada deadline at 6 a.m. Eastern Time Friday. The alliance said customs and immigration officials would start reducing services at land crossings, airports and shipping ports unless a new arrangement is made by then. The union said “massive disruption” was possible at Canada’s borders.

   
 
 

FDA’s Covid-19 Vaccine Booster Plan Could Be Ready In Weeks

The Food and Drug Administration expects to have a Covid-19 vaccine booster strategy by the beginning of September that will specify when and which people will be vaccinated, according to people familiar with the discussions within the agency, should receive the follow-up vaccination.

The Biden government is pushing for a booster strategy to be released quickly, as some populations – people age 65 and older and people with immunodeficiency, as well as those who received the vaccinations in December or January shortly after they were launched – may need boosters this month said two of the people.

   
 
 

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This article is a text version of a Wall Street Journal newsletter published earlier today.

 

(END) Dow Jones Newswires

Aug 06, 2021 6:17 AM ET (10:17 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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