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Germany Weighs More Spending; U.K. Reopening Plan: Virus Update

(Bloomberg) — Germany Chancellor Angela Merkel’s government is weighing as much as 50 billion euros ($61 billion) in additional debt spending, with officials meeting on Monday to discuss financing for tests and other measures to support Europe’s largest economy. In the U.K., Prime Minister Boris Johnson will outline his plan for lifting the lockdown in England, prioritizing the return of schools and outdoor activities over reopening stores, bars and restaurants.The U.S. is poised to reach 500,000 Covid-19 deaths, though the pace of fatalities has slowed dramatically. Anthony Fauci said vaccinations slowed by bad weather should be back on track by midweek.Key Developments:Global Tracker: Cases exceed 111.3 million; deaths pass 2.4 millionVaccine Tracker: More than 205 million shots given worldwideU.S. nears ‘stunning’ toll of 500,000 coronavirus deathsPfizer-BioNTech vaccine reduces transmission by 89%, study showsU.K.’s vaccine milestone ignites world-beating market rallyCan I be required to get vaccinated?: QuickTakeSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click CVID on the terminal for global data on cases and deaths.Germany Weighs Spending Boost (7:45 a.m. NY)Chancellor Angela Merkel’s government is weighing as much as 50 billion euros ($61 billion) in additional debt spending to fight the impact of the virus. The funding — equivalent to about 1.5% of German gross domestic product — reflects an initial estimate, and it’s still unclear if the money will be needed in the end, according to a people familiar with the discussions.Merkel aims to develop a plan that will pave the way for a cautious reopening, even as infection rates tick up. Under pressure from a pandemic-weary German public, the Chancellor told the leadership of her Christian Democratic party on Monday that the next steps will have to be done “smartly” and with more testing, according to a person familiar with the discussions.She identified three areas for easing: private gatherings, restaurants and leisure facilities, and schools — which started a tentative reopening on Monday in many states. Reopening stores weren’t mentioned.Italy Extends Travel Ban (7:30 a.m. NY)Italy extended a ban on movement between the country’s 20 regions to March 27, Ansa newswire reported. Mario Draghi’s new government is trying to step up a vaccination campaign to counter the pandemic, while maintaining a system of restrictions based on regional spread of the virus.Vaccine Cuts Hospitalizations, Scottish Study Shows (6:50 p.m. HK)The U.K.’s vaccine rollout is significantly reducing hospitalizations, a Scottish study suggests.By the fourth week after receiving a vaccine, the risk of hospitalization fell by 85% to 94%, depending on which vaccine was administered, according to a Public Health Scotland study. The Oxford-AstraZeneca vaccines produced the highest reduction in hospitalization, while Pfizer-Biontech’s vaccine had a slightly lower reduction, the study showed.Sanofi, GSK Restart Vaccine Trial (6:41 p.m. HK)Sanofi and GlaxoSmithKline Plc are restarting a trial of their Covid-19 vaccine, according to a statement Monday. The French drugmaker has corrected the formulation of the shot, which was weaker than planned in a previous trial and failed to create enough of an immune response in people 50 years and older.Assuming results are good for the new second-phase trial — which will include 720 adults in the U.S., Honduras and Panama — the candidate could move on to late-stage studies in the second quarter and become available by the end of the year. The current trial will evaluate three different doses for the two-shot regimen.U.K.’s Cautious Reopening Plan (6:10 p.m HK)Vaccines Minster Nadhim Zahawi said the U.K.’s reopening strategy will be “cautious, slow and deliberate.”In a statement to parliament, Prime Minister Boris Johnson will announce that all schools in England will reopen from March 8. People will be allowed to meet one-on-one to sit down for a coffee or picnic outdoors, officials said. From March 29, gatherings of either six people or two households can take place outdoors, including in private gardens, and sports such as tennis and soccer can resume.Johnson will urge caution over the opening of non-essential shops, hair salons and hospitality venues, saying there must be a gap between relaxing restrictions for each sector to examine caseloads and hospitalizations. Israel Eyes Moderna Shots Once Pfizer Doses Run Out (5:30 p.m. HK)Israel has sufficient Pfizer–BioNTech vaccines to inoculate 5 million people and will switch to Moderna Inc. shots when that runs out, Health Minister Yuli Edelstein said.Some 4.4 million Israelis have been vaccinated with at least one dose, and almost 3 million people have had two doses, according to the Health Ministry. That leaves 1.6 million people who are still eligible for vaccination after putting aside those under 16 and people who have already contracted the virus.The Pfizer-BioNTech vaccine, which was rolled out in a national immunization program that began Dec. 20, was 89.4% effective at preventing laboratory-confirmed infections.Thailand Extends State of Emergency (4:34 p.m. HK)Thailand extended a state of emergency until the end of March and ordered the easing of some Covid-19 containment measures as authorities prepared to start a vaccination drive as early as next week. The cabinet is expected to back the extension — in place since March last year — at a meeting on Tuesday.Russia Reports Lowest Fatalities Since November (4:15 p.m. HK)Russia reported 337 deaths caused by the coronavirus, the lowest daily number since mid-November. The country has also seen a steady decline in cases — it reported 12,604 new cases on Monday, down from a peak of almost 30,000 a day in December.Russia over the weekend became the first country with three approved Covid-19 vaccines as it registered an inoculation by the state-run Chumakov Center, even as Phase 3 safety trials won’t begin until March.Mumbai Cautioned With Lockdown Threat as Cases Rise (4:11 p.m. HK)The chief minister of the Indian state of Maharashtra, which includes the financial capital of Mumbai, warned that new regional lockdowns could be imposed after the number of daily cases rose to nearly 7,000 on Sunday, accounting for about half the entire country’s reported infections.Tokyo Reports Fewest New Cases Since November (2:09 p.m. HK)Tokyo reported 178 new coronavirus cases, the lowest number since Nov. 9. Japan is in the midst of an extended second state of emergency for much of its urban areas, as the country was hit by a winter surge of cases at the end of last year. Cases have been easing significantly, and the country began its vaccination drive last week.Hong Kong’s Leader Gets Vaccine (12:28 p.m. HK)Hong Kong Chief Executive Carrie Lam received a Covid-19 vaccine on Monday, as the Asian financial hub prepares to begin its delayed rollout of inoculations. Hong Kong will start its vaccination drive on Friday.Auckland to Step Down to Alert Level 1 (10:37 a.m. HK)Auckland will step down to Alert Level 1 from midnight Monday, New Zealand Prime Minister Jacinda Ardern told reporters. The change from Level 2 means there will be no limit on the size of gatherings at public events or hospitality outlets.Auckland ended a three-day lockdown last week after authorities expressed confidence that a community outbreak was contained. Ardern said Monday that officials advised there is no evidence of undetected Covid clusters.Serum CEO Says India Prioritized for Shots (10:19 a.m. HK)The chief executive officer of the world’s largest vaccine maker said India will be prioritized ahead of other countries in receiving shots.“Dear countries & governments, as you await Covishield supplies, I humbly request you to please be patient,” Adar Poonawalla, CEO of the Serum Institute of India Ltd., wrote in a tweet on Sunday. “Serum has been directed to prioritize the huge needs of India and along with that balance the needs of the rest of the world.”South Korea Has Fewest New Cases in 8 Days (10:11 a.m. HK)South Korea reported 332 new coronavirus cases over the last 24 hours, the smallest increase in eight days. The country on Friday is scheduled to begin using AstraZeneca’s vaccine to inoculate about 272,000 patients and workers at nursing homes and related facilities who are younger than 65. Pfizer Inc.’s vaccine will be used to inoculate medical workers beginning Saturday.Fauci Says Vaccine Delays to Be Quickly Reversed (10:13 a.m. NY)The top U.S. infectious diseases specialist said the backlog of vaccinations from last week’s severe weather should be mopped up by midweek.Fauci spoke as the U.S. stands on the verge of a milestone few imagined when the first coronavirus cases were diagnosed a year ago: 500,000 deaths.“It’s something that is stunning when you look at the numbers, almost unbelievable,” Fauci said. “People will be talking about this decades and decades and decades from now.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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