Author: therawinformant

Jul.27 — Greg Valliere, chief U.S. policy strategist at AGF Investments, examines the politics behind the next U.S. stimulus plan as Senate Majority Leader Mitch McConnell is expected to release details of a $1 trillion pandemic proposal on Monday. He speaks with Bloomberg’s Tom Keene on “Bloomberg Surveillance.”

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Top news and what to watch in the markets on Monday, July 27, 2020.

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(Bloomberg) — China warned that the worst of the deluges that have led millions to be evacuated may be yet to come, after a third wave of floods formed in the upper reaches of the Yangtze River on Sunday.“The flood control and flood fighting situation is severe,” China’s water resources ministry said in a statement. “The new peak may appear later.”Authorities ordered the Three Gorges Reservoir to save its water-storing capacity in preparation for more flows, and forecast another three days of torrential rain in the southern region.China’s south has been battered by severe floods after water levels reached records. More than 2 million people have been evacuated this month along the Yangtze River, Asia’s longest, with 142 dead or missing since the flooding began in June. It has also caused over 116 billion yuan ($17 billion) in damages, and impacted more than 2.4 million hectares (6.1 million acres) of crops in July.The Three Gorges Reservoir is expecting water inflows to surge to about 60,000 cubic meters per second by about Tuesday. The reservoir level was at 159.46 meters as of Monday, down from 164.18 meters about a week ago. Its maximum capacity is 175 meters.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Moderna Inc said that the U.S. government’s Biomedical Advanced Research and Development Authority (BARDA) has committed an additional $472 million in funding to support scaling up of manufacturing and clinical development of its novel coronavirus vaccine.

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As Hong Kong struggles to contain a third wave of Covid-19 infections, the government has ordered restaurants to close their dining areas and only offer takeaway services. The measure has forced hundreds of people who sleep overnight at 24-hour McDonald’s branches, so-called McRefugees, out onto the city’s streets.

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London-listed AstraZeneca said on Monday it would pay $1 billion upfront to Daiichi in staggered payments for an experimental drug called DS-1062, which belongs to a promising class of therapies called antibody drug conjugates (ADC). AstraZeneca has been bolstering its portfolio of cancer therapies, particularly ADCs, a major area of focus for the company as it also ploughs on with its coronavirus vaccine candidate. “We see significant potential in this antibody drug conjugate in lung as well as in breast and other cancers that commonly express TROP2,” AstraZeneca Chief Executive Pascal Soriot said, referring to a protein found on some cancer cell surfaces.

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Tens of thousands of people continued to demonstrate against racism and police tactics in protests across the country that at times turned violent, with shootings in Texas and Colorado and officials declaring “riots” in Portland, Ore., and Seattle. Photo: Marcio Jose Sanchez/Associated Press

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Jul.27 — This year, the Arctic is on track to post the lowest ice coverage on record. That development has concerned scientists, but for companies producing and shipping oil, gas and metals, this is opening a new and shorter sea route from Northern Europe to China. Bloomberg Green’s Laura Millan discusses the developments on “Bloomberg Markets: European Open.”

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