Coronavirus latest: Chicago aims to supply free vaccine to all adults in 2021

Canada has become the third country to approve the Covid-19 vaccine developed by Pfizer and BioNTech, as it prepares to get the first shots as early as next week. The companies will supply up to 76m doses to the country, which has recorded 429,035 cases and 12,867 deaths since the pandemic began.

In an unusually emotional speech in the Bundestag on Wednesday, German chancellor Angela Merkel said Germany must go into a hard lockdown before Christmas to curb the spread of coronavirus, citing the “alarming” number of people being treated for Covid-19 in intensive care wards and the surge in deaths.

Nicola Sturgeon, Scottish first minister, said on Wednesday at her daily Covid-19 briefing that the UK should “learn lessons” from research suggesting that travel from England and overseas was the main driver of a second wave of coronavirus infections in Scotland and Wales.

The biggest rise in UK unemployment since the onset of the pandemic has been among the young. But older workers are also disproportionately likely to have been furloughed or made redundant, and many have left the labour market. Evidence from previous recessions suggests they will struggle the most to find a new job

AT&T has received at least three offers that value its satellite division DirecTV unit at more than $15bn, a fraction of the sum the US telecoms group paid for it in a high-profile deal five years ago as the pandemic has weighed heavily on AT&T’s media business.

The United Arab Emirates, the first foreign country to approve a Covid-19 vaccine developed by Chinese state-owned pharmaceutical group Sinopharm, said it had 86 per cent efficacy, according to interim results of a phase 3 trial. The announcement is a boost for Beijing’s ambitions to establish its pharmaceutical companies.

DoorDash reached a market value close to $60bn in its public trading debut, capping a dramatic rise for the US meal delivery company whose business has flourished during the pandemic. Shares in DoorDash began trading at $182 on Wednesday — almost 80 per cent above the price of their initial public offering.

Hedge fund DE Shaw has acquired a sizeable stake in ExxonMobil and is pushing for the oil company to cut costs, adding shareholder pressure on management just days after another investment fund proposed a boardroom shake-up and as energy groups are struggling to cope with the fallout of the coronavirus pandemic.

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