News updates: Yellen pushes a big incentive package

Text size

Here are the things you need to know in order to overcome the markets of today.

• Finance Secretary Janet Yellen said that despite signs of economic development, it was “very important” to have a further package of economic stimulus with Congress and signed into law by President Biden, because “We are digging out of a deep hole,” in an interview with CNBC. Yellen said the Congressional Budget Office found that without the $ 1.9 trillion incentive plan that she and Biden support, “it would take 2024 in their fundamental case to get back to full employment.” The incentive plan includes $ 1,400 incentive payments for individuals. (read more)

• One dose of the Covid-19 vaccine developed by

Pfizer

and

BioNTech

is 85% effective in preventing the symptoms of the disease for 15 to 28 days after the picture is administered, according to a study in Israel. This can lead to governments deciding to delay second doses to allow more people to receive the first dose. (read more)

• Pfizer and BioNTech stated that their Covid-19 vaccine was safe for storage at temperatures between 13 degrees Fahrenheit negative and 5 degrees Fahrenheit. Changing rules to accept that temperature range as a new criterion could replace the current range of 112 degrees Fahrenheit to a negative 76 degrees Fahrenheit, “providing our vaccine treatment in pharmacies and even more flexibility vaccination centers, ”BioNTech CEO Ugur Sahin said. (read more)

•

Uber Technologies

he suffered a court ruling Friday that could cost his business model. The UK Supreme Court has rejected an appeal by the company once divided on a previous ruling that their drivers should be treated as “employees,” meaning they are entitled to be “paid”. At least the national minimum wage, to get paid annual leave and benefit from other special protections. The regulation also mandates that Uber may not consider limiting the working time of its employees to the times when they are carrying passengers, but must count as time worked “time when the driver entered the Uber app within the area in which the driver was allowed he was allowed to work and was ready and willing to accept trips. “(read more)

• The average daily count for new coronavirus cases in the U.S. was 72,831 over the past week, down 44% from the two-week average, according to the New York Times regulator. There were 71,831 new cases and at least 2,620 deaths in the U.S. Thursday. (read more)

• Dr Anthony Fauci, director of the National Institute for Allergies and Infectious Diseases, said a return to “near normal” living conditions would take place “before the end of the year, before Christmas.” in an interview on MSNBC. (read more)

Write to [email protected]