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Australia Recommends Against Fifth Vaccine Dose As Fresh COVID Wave Builds

SYDNEY, Nov 15 (Reuters) – Australian health authorities have recommended against getting a fifth COVID-19 vaccine shot, even as they urged those eligible to sign up for their remaining booster doses as the country’s latest COVID wave grows rapidly.

Average daily cases had been 47% higher last week than the week before, said Health Minister Mark Butler at a press conference on Tuesday, announcing new vaccination recommendations. But cases remain 85% below the previous peak, of late July.

Full coverage: REUTERS

Exclusive: Germany Steps Up Emergency Cash Plans To Cope In Blackout

FRANKFURT, Nov 15 (Reuters) – German authorities are stepping up preparations for emergency cash deliveries in case of a blackout to keep the economy running, four people involved said, as the nation braces for possible power cuts arising from the war in Ukraine.

The plans include the Bundesbank, Germany’s central bank, hoarding extra billions to cope with a surge in demand, and possible limits on withdrawals, one of the people said.

Full coverage: REUTERS

EV Battery Makers Race To Develop Cheaper Sell Materials, Skirting China

Nov 15 (Reuters) – U.S. and European startups are racing to develop new batteries using two abundant, cheap materials — sodium and sulfur — that could reduce China’s battery dominance, ease looming supply bottlenecks and lead to mass-market electric vehicles (EVs).

Today’s EVs run on lithium ion batteries — mostly made with lithium, cobalt, manganese and high-grade nickel, whose prices have soared. Western producers are struggling to catch up with their Asian rivals, and carmakers expect supply bottlenecks to hit car production around the middle of the decade.

Full coverage: REUTERS

Jobless Rate Rises As UK Prepares To Tighten Belts Again

LONDON, Nov 15 (Reuters) – Britain’s unemployment rate unexpectedly rose and vacancies fell for a fifth report in a row as employers worried about the outlook for the economy, official data showed on Tuesday, ahead of a tough government budget plan later this week.

But pay growth stayed strong, with the increase in basic pay hitting a record high excluding the pandemic period, keeping pressure on the Bank of England to continue raising borrowing costs despite the economic slowdown.

Full coverage: REUTERS

Morning Bid: Let’s Talk Rates Again

A look at the day ahead in European and global markets from Anshuman Daga

Just as investors were starting to put aside worries of rate increases from the Federal Reserve, the narrative is again shifting to tighter U.S. monetary policy.

In Europe also, policy makers are reminding markets that as long as broad-based inflation is not tamed, rate increases are still on the agenda.

France’s central bank chief said in a speech in Tokyo the European Central Bank will probably keep raising interest rates beyond 2%, but “jumbo” rate hikes will not become a new habit.

Full coverage: REUTERS

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Industry Dynamics

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