Tag: Fast

Pfizer Shots Get Fast Track; Florida Cases Rise: Virus Update

(Bloomberg) —

Pfizer Inc. and BioNTech SE received permission from the U.S. Food and Drug Administration to fast-track two vaccine candidates, boosting their shares.

Hong Kong reported 41 new local cases, another record high, and tightened social-distancing measures amid fears of a resurgence after weeks of near-normal activity. More than half a million residents defied the fresh outbreak and government warnings to vote in an unofficial primary.

India added more than 50,000 over the weekend, with deaths topping 1,000.

Key Developments:

Global Tracker: Cases top 12.9 million; deaths surpass 569,600Covid-19 reinvades U.S. statesDeath rate in majority-Black countries is getting worseThe

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Lebanon’s Economic Crisis Is Spinning Out of Control, Fast

(Bloomberg) — Lebanon’s economic crisis is fast slipping out of control, driven by a currency collapse that’s decimating businesses and plunging families into destitution.

While politicians and bankers trade blame on the airwaves, the country’s pound has lost nearly 60% of its value on the black market in the past month, threatening to suck the economy into a hyper-inflation spiral. Food prices are rising so fast that the army took meat off its menus last week. The state-controlled price of a bag of flat-bread was raised by a third.

Blackouts are spreading as fuel runs out. Facing ruinous losses, well-known

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Coronavirus crisis will reveal which startups are ‘houses of cards’: Fast Company Editor-in-Chief

Layoffs at high-profile tech giants like Uber (UBER) and Lyft (LYFT) grabbed headlines in recent weeks, though the novel coronavirus has also decimated the next generation of aspiring unicorns, forcing some to close permanently.

Some promising ventures may succumb to unfortunate circumstances, but the economic crisis also reveals which early-stage companies can draw on the effective leadership and sustainable business model necessary to weather a downturn, says Stephanie Mehta, the editor-in-chief of business publication Fast Company.

“We’re going to see the companies that actually have real business plans and real models that will be able to sustain them on the

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