Coronavirus LIVE: Cases close to 8.6 mn in India, death toll at 127,104

Coronavirus update: Maharashtra has 1,719,858 coronavirus cases, Karnataka 844,147, Andhra Pradesh 842,967, Tamil Nadu 739,147 and UP 497,000. Stay tuned for coronavirus India LIVE updates

2:25 AM

EU negotiators clinch deal on huge budget, coronavirus plan

After months of wrangling, European Union negotiators reached an agreement Tuesday on the bloc's next seven-year budget and a coronavirus support package worth a total of some 1.8 trillion euros ($2.1 trillion), which could enter force early next year.

 

The deal, clinched between European Council negotiators representing the EU's 27 member countries and the European Parliament, must still officially be endorsed by the bloc's ministers and the full EU legislature. The budget is meant to take effect on Jan. 1.

 

We have finally made it, Germany's EU envoy, Michael Clauss, said. We urgently need the recovery fund up and running in order to cushion the dire economic consequences of the pandemic.

1:49 AM

Vaccine hope dampens prospects for corporate stay-at-home darlings

The surge in shares of Netflix, Zoom and other of this year's stay-at-home corporate winners has been brought to a sudden halt by promising vaccine data suggesting a possible way out of the Covid-19 pandemic.

 

The jury was still out on Tuesday, however, as to whether that reverse, sparked by positive data from trials run by US drugs giant Pfizer and Germany's BioNtech, would last.

 

Shares in video conferencing network Zoom fell 4% on Tuesday after plunging about 17 per cent a day earlier. But both exercise bike maker Peloton, which sank more than 20 per cent on Monday, and Netflix, actually gained ground on Tuesday.

 

Tech heavyweights from Google-parent Alphabet to Apple and Amazon also suffered but have still mushroomed hugely in value this year.

 

"Even if a vaccine proves effective, inoculating a large enough part of the population will take time and leave these segments prone to economic lockdown fallout," said Commerzbank analyst Christoph Rieger.

 

The shakiness of moves may have reflected both those doubts about the speed at which a vaccine can be produced and distributed as well as the remaining doubts about whether it will work as a solution in the long-run.

12:43 AM

EU to buy up to 300 million doses of Pfizer-BioNTech vaccine

The European Commission will sign a deal to secure up to 300 million doses of the experimental coronavirus vaccine developed by BioNTech and Pfizer.

 

Ursula von der Leyen, the president of the EU's executive arm, said the commission will authorize the deal on Wednesday after working tirelessly to secure doses of potential vaccines in recent months.

 

This is the most promising vaccine so far, von der Leyen said. Once this vaccine becomes available, our plan is to deploy it quickly, everywhere in Europe. Pfizer said Monday that early results from the vaccine suggests the shots may be a surprisingly robust 90% effective at preventing Covid-19.

11:53 PM

Myanmar reports 1,266 new Covid-19 cases, 24 more deaths

Myanmar reported 1,266 more Covid-19 confirmed cases on Tuesday, bringing the country's tally to 63,241, according to a statement from the Ministry of Health and Sports.

 

A total of 24 more Covid-19 deaths were also reported on Tuesday, taking the death toll in the country to 1,461, the release said.

 

According to the ministry's figures, 47,411 patients have been discharged from hospitals after recovery.

11:26 PM

In highest single-day spike in Delhi, 7,830 Covid-19 cases reported, tally reaches over 450,000; toll 7,143 with 83 new deaths

10:48 PM

BioNTech to price vaccine below market rates

BioNTech, first in the race to disclose interim data from a large-scale trial showing a highly effective Covid-19 vaccine, is planning to price the two-shot regimen below "typical market rates" and would differentiate pricing between countries or regions.

 

Speaking at a Financial Times online event, the German biotech firm's strategy head Ryan Richardson said the price tag of the vaccine, which is co-developed with Pfizer and which has yet to win regulatory approval, would reflect the financial risks that its private-sector investors have incurred.

 

"We've tried to pursue a balanced approach that recognises that innovation requires capital and investment so we plan to price our vaccine well below typical market rates reflecting the situation that we're in and with the goal to insure broad-based access around the world," Richardson said at the FT event.

10:46 PM

Covid-19: Gehlot says next three months to be 'very challenging' due to winter, festivities, pollution

10:45 PM

Brazil government could spend 4 per cent of GDP to counter second Covid-19 wave: Economic minister

10:43 PM

900 new Covid-19 cases in MP, eight deaths; 793 recover

Madhya Pradesh on Tuesday recorded 900 new Covid-19 cases, taking its tally to 179,068, while eight fatalities pushed the death toll to 3,042, health officials said.

 

793 patients were discharged from hospitals, taking the state's overall recovery count to 167,877, they added.

10:24 PM

Disease burden may increase drastically if Covid-19, air pollution get combined: AIIMS director

9:16 PM

Another Covid-19 death, 39 new cases in UP's Muzaffarnagar

One more Covid-19 patient succumbed to the infection, bringing the death toll from the disease to 81 in Uttar Pradesh's Muzaffarnagar district, while 39 fresh cases pushed the active case count to 292 on Tuesday, officials said.

 

The 60-year-old patient, who was taken to Muzaffarnagar Medical College Begarajpur on November 2, died on Tuesday, they said.

9:15 PM

Preparations in place for resuming local train services in West Bengal; Railways urges people to follow Covid norms

8:57 PM

Punjab government issues guidelines allowing various sports activities in the State; swimming not permitted

8:46 PM

Ladakh records one more Covid-related death, 125 fresh cases

One more patient died of coronavirus in Ladakh, taking the fatality count to 85, while 125 fresh cases pushed the infection tally in the Union Territory to 6,934, an official bulletin said on Tuesday

8:33 PM

Karnataka reports 2,362 new Covid-19 cases