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The World
It’s being called V-Day: Covid vaccine batches have begun to arrive in UK hospitals, ready for the first vaccinations today in what NHS England’s medical director warned would be the largest and most complex vaccination campaign in the country’s history. In a first wave of vaccinations, around 50 "hospital hubs" in England offer the vaccine to people over 80, higher-risk NHS workers and care home staff. After that, doctors' offices will start operating local centers — around 1,000 across England — to vaccinate vulnerable patients. Meanwhile, Canada Prime Minister Justin Trudeau said Canada will start receiving vaccine next week. (The Times, The Guardian, CNN, New York Times)
“Obviously I can’t hold them in my hands because they are minus 70 degrees, but to know that they are here and we are amongst the first in the country to actually receive the vaccine and therefore the first in the world is just amazing. I am so proud,” said Croydon Health Services’ Chief Pharmacist Louise Coughlin. (CNBC)
Before Pfizer’s coronavirus vaccine was proved highly successful in clinical trials last month, the company offered the Trump administration the chance to lock in supplies beyond the 100 million doses the pharmaceutical maker agreed to sell the government as part of a $1.95 billion deal over the summer. But the administration never made the deal. Now Pfizer has told the Trump administration it cannot provide substantial additional doses until late June or July because other countries have rushed to buy up most of its supply. (New York Times, Washington Post)
In what's believed to be a first, no WWII survivors or veterans attended the annual Pearl Harbor Day event in Hawaii due to the ongoing pandemic, as the U.S. broke its record for the most deaths in a week, and NY indoor dining may end next week. (CNN, New York Times)
The WEF moved its 2021 Davos meeting to Singapore over the Covid risk in Europe, only the second time in 20 years the meeting will occur outside Switzerland. UK researchers say Slovakia's mass Covid testing plus tough quarantine rules cut the infection rate by 60%. Down under, businesses are pushing back on Australia and New Zealand travel bans, as with low infection rates, companies say the entry limits are too strict. China ordered mass coronavirus testing in Chengdu. (Financial Times, Nikkei Asian Review, The Guardian, Associated Press)
President-elect Biden is expected to nominate retired Gen. Lloyd J. Austin III to be the next secretary of defense. If confirmed, General Austin would make history as the first African-American to lead the country’s 1.3 million active-duty troops and the enormous bureaucracy that backs them up. General Austin, 67, was for years a formidable figure at the Pentagon, and is the only African-American to have headed U.S. Central Command, the military’s marquee combat command, with responsibility for Iraq, Afghanistan, Yemen, Syria — most of the places where the U.S. is at war. (New York Times, Defense News)
UK Prime Minister Boris Johnson will fly to Brussels for an eleventh-hour summit with European Commission President Ursula von der Leyen this week after two days of Brexit talks between negotiators failed to make any further progress in reaching a deal — and amid warnings from British officials that a no-deal Brexit was in the balance, as the Pound falls with the trade anxiety. (The Times, Financial Times)
The meeting has its roots in a breakdown of trust between the British and European negotiating teams who less than a week ago had seen a deal within their grasp. One senior EU diplomat added: “We shall light a candle for them.” (The Times, The Guardian)
China is curtailing its overseas lending in face of geopolitical backlash, as data point to a Beijing rethink of Xi Jinping’s signature Belt and Road financing initiative. Meanwhile, China is increasingly flouting international sanctions on North Korea and is no longer trying to hide some of its covert smuggling activity as it seeks to help Pyongyang endure the Trump administration’s pressure campaign. Hong Kong police arrested eight more activists over an anti-government protest in July, the latest move in a relentless crackdown on opposition forces there — while also removing 105 apps including TripAdvisor from its app stores under a new campaign to cleanse stores of apps it deems spread content related to pornography, prostitution, gambling and violence. (Financial Times, Wall Street Journal, South China Morning Post, Reuters)
Venezuela President Maduro claimed “a great victory” in parliamentary elections that were boycotted by the main opposition parties and widely condemned as fraudulent. The vote gives him control over the national assembly, the last democratic institution in the nation. It puts in doubt the political future of Juan Guaidó, his rival for the presidency who is backed about 50 countries. (The Times)
The U.S. Supreme Court will hear arguments on whether Medicaid work requirements are legal. The demonstrations were a signature policy of President Trump's administration, which approved some states to tie Medicaid expansion eligibility to job training or work. The court is unlikely to hear oral arguments in this case until after Inauguration Day. (HealthcareDive)
Michigan’s secretary of state said dozens of armed protesters gathered in a threatening manner outside her home on Saturday evening chanting “bogus” claims about electoral fraud. Gov. Gretchen Whitmer extended restrictions on indoor dining and in-person classes for 12 more days followed by a "cautious re-engagement." (The Guardian, Detroit Free Press)
Economy
U.S. business groups are calling for fresh stimulus as CEO confidence improves. In Canada, Prime Minister Justin Trudeau said he anticipates a strong economic recovery in Canada in the middle of next year, aided by government spending and savings that households and businesses have accumulated. Meanwhile, Japan reported its economy expanded at a 22.9% annual rate in 3Q20, as businesses and personal spending recovered from pandemic-related shocks in the spring and early summer. Still, Japan will compile a third round of stimulus worth roughly$706 billion, aiming to shore up an economy threatened by a virus surge. (Financial Times, Wall Street Journal, Associated Press, Nikkei Asian Review)
Goldman Sachs signed a pact with its China joint venture partner to wholly own the business, becoming the latest foreign bank to take advantage of the opening up of the financial sector in the world’s second-largest economy. (Reuters)
Private-equity firms managing funds aimed at generating both financial returns and environmental, social and governance benefits can expect some positive, albeit modest, changes from President-elect Biden. Meanwhile, two London School of Economics academics explain how to give shareholders a say in corporate social responsibility, arguing that if companies pursue goals beyond profits, investors should be allowed to weigh in. (Wall Street Journal, Wall Street Journal-2)
Venture capital investment is diversifying, as VCs take more virtual meetings, which has helped Black founders raise venture money: Owing to a convergence of factors, some Black founders of tech startups are finding that it’s easier to attract investment, with physical and psychological barriers to funding companies outside of startup hubs like New York City and the Bay Area lessened. Black founders also say that the killing of George Floyd, subsequent protests and the broader cultural movement that has ensued have caused the VC industry to reckon with its track record of funding minority founders. (Wall Street Journal)
Separately, the virtual meeting trend also has helped boost U.S. investment in European startups, where as a record number of U.S. firms invested in European tech this year. (The Information)
Technology
Airbnb’s biggest IPO winners: Sequoia Capital’s early bet on Airbnb — set to go public this week at a roughly $40 billion valuation — will likely propel it to one of the greatest hauls in the history of venture capital, turning a $260 million investment made over the past 11 years into a stake that is now worth about $4.8 billion. Other famed Silicon Valley investors also struck gold, including Y Combinator, Greylock Partners and Andreessen Horowitz. A significant shareholder that hasn’t been previously disclosed is Emerson Collective, the part-philanthropic endeavor of Laurene Powell Jobs, an investor who was married to Steve Jobs. (The Information)
Apple is planning a series of new Mac processors for introduction as early as 2021 that are aimed at outperforming Intel Corp.'s fastest. Chip engineers are working on several successors to the M1 custom chip, Apple's first Mac main processor that debuted in November. If they live up to expectations, they will significantly outpace the performance of the latest machines running Intel chips. (TechXplore)
Universal Music Publishing Group acquired Bob Dylan’s entire catalog of songs encompassing more than 600 copyrights spanning 60 years, ranging from 1962’s “Blowin’ in the Wind” to this year’s “Murder Most Foul.” The amount is said to be between $300 million and $400 million. Stevie Nicks sold 80% of her publishing catalog to Primary Wave last week for a reported $100 million. (Variety, Rolling Stone)
OnlyFans is a billion-dollar media giant hiding in plain sight: The site wants musicians, gamers and athletes to join adult models in selling subscriptions. The company has 85 million users, upward of 1 million creators, and will generate more than $2 billion in sales this year, of which it keeps about 20%. That puts the site on track for $400 million in annual net sales — dwarfing Patreon, a platform devoted to helping creative types monetize their work, which is valued at more than $1.2 billion. (Bloomberg)
Smart Links
Report: Global losses from cybercrime skyrocketed to nearly $1 trillion in 2020. (Washington Post)
Uber sells its self-driving unit to Aurora, invests $400 million at $10 billion valuation. (CNBC)
Toll Brothers CEO Douglas Yearley: Housing market is strongest he has seen in 30 years at company. (Wall Street Journal)
Rashida Jones to succeed Phil Griffin as MSNBC President, becomes first Black executive to run big cable-news outlet. (Variety)
Washington, D.C. links a quarter of its outbreaks to area colleges. (Chronicle of Higher Ed)
Seattle Mayor Jenny Durkan won’t run for reelection. (Seattle Times)
Man who found treasure hidden in the Rocky Mountains is revealed. (Denver Post)
Japan’s Hayabusa-2 capsule with asteroid samples landed in Australia in 'perfect' shape. (BBC News)