UK economic growth accelerated in April as lockdown eased
The UK economy gathered momentum and grew at the fastest pace in nine months in April on a boost from the reopening of hospitality and entertainment sector. Shops and restaurants serving outdoors were back in business after months of the coronavirus-induced lockdown. Gross domestic product rose 2.3 per cent from March, despite unexpected declines in manufacturing and construction, according to data released by the country's statistics office. In a sign that Britain is emerging from the long shadow of pandemic, surveys indicate businesses are preparing to step up investment and households are splurging savings built up during more than a year of restrictions. Read here
Let's look at the global statistics
Global infections: 174,873,997
Global deaths: 3,773,547
Vaccine doses administered: 2,231,698,808
Nations with most cases: US (33,426,420), India (29,274,823), Brazil (17,210,969), France (5,791,608), Turkey (5,313,098).
G7 mulls support for redirecting $100 billion in IMF reserves
The world's richest nations are considering a reallocation of potential $100 billion fresh IMF reserves from advanced economies to more vulnerable nations to help their recovery from coronavirus pandemic. The IMF is already preparing to give its member countries the biggest resource injection in its history--$650 billion--to boost global liquidity and help emerging and low-income nations deal with mounting debt and Covid-19. The global effort would address health needs including vaccinations as well as help enable greener, more robust economic recoveries. Read here
Moderna seeks US nod for its vaccine use in adolescents
Moderna has requested an emergency authorisation from the US Food and Drug Administration (FDA) for the use of its coronavirus vaccine in 12-to 17-year-olds. If approved, as is likely to be the case, the vaccine would offer a second option to the country in protecting adolescents from the coronavirus, and quicken a return to normalcy for middle- and high-school students. Moderna’s application to the FDA for young teens is based on study results reported last month. That clinical trial enrolled 3,732 children aged 12-17 years. It found no cases of symptomatic Covid-19 among fully vaccinated teens, which translates to an efficacy of 100 percent, and a single dose of the Moderna vaccine had an efficacy of about 93 per cent. Read here
Green for hugs, red for no touching: US events introduce pandemic colour coding
As life crawls back toward normalcy in America after what felt like an eternal hiatus, the usual norms of socialising and individual needs for personal space are completely changed. Some are more than comfortable with group crowds, but others favour a distant chat or a wave from afar. To better manage these awkward scenario's, event hosts are offering green, yellow or red wristbands to let people know if they can come in for that hug—or not. These are designed to signal preferences without the awkward conversations. The new stickers and wristbands are typically optional, though organisers say they are quite popular. Read here
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