What you need to know about the coronavirus today

WHO study casts doubt on remdesivir’s benefits
Gilead Sciences has questioned the findings of a World Health Organization (WHO) study which concluded that its COVID-19 drug remdesivir does not help patients who have been admitted to hospital.

The American company told Reuters the data appeared inconsistent, the findings were premature and that other studies had validated the drug’s benefits.

In a blow to one of the few drugs being used to treat people with COVID-19, the WHO said its “Solidarity” trial had concluded that remdesivir appeared to have little or no effect on 28-day mortality or length of hospital stays among patients with the respiratory disease.

U.S. cases surpass 8 million
U.S. coronavirus cases crossed 8 million on Thursday, rising by 1 million in less than a month, as another surge hits the nation hard at the onset of cooler weather.

The United States reported 60,000 new infections on Wednesday, the highest daily increase since Aug. 14, with rising cases in every region, especially the Midwest.

According to a Reuters analysis, 25 states have so far set records for increases in new cases in October.

UK moves closer to vaccine trials that infect volunteers
“Human challenge” trials of potential COVID-19 vaccines, where volunteers are deliberately infected with the disease, could become a reality after a British biotech firm said it was in advanced talks with the government to create and provide strains of the virus.

Preliminary work for the trials, which aim to speed up the process of determining the efficacy of a vaccine candidate, is being carried out by hVIVO, a unit of pharmaceutical services company Open Orphan.

If agreed, this would involve creating a human challenge study model that could be used should such trials gain ethical and safety approval from regulators.

First ‘no-quarantine’ flights arrive in Australia
Hundreds of New Zealand plane passengers started arriving in Sydney on Friday as part of a new trans-Tasman travel bubble set up amid a rapidly falling growth rate in cases at the epicenter of Australia’s coronavirus outbreak.

In a tentative reopening to international tourism, travelers on the approved flights won’t be required to quarantine in Sydney.

The arrangements, however, are not yet reciprocal, with New Zealand requiring arrivals to be quarantined for two weeks under supervision at the cost of $2,045 for the first person and more for additional family members.

Japan to test anti-virus measures at stadium
Yokohama Stadium will hold three baseball games at around 80% capacity later this month as Japan looks to test its COVID-19 countermeasures at big events ahead of the rearranged Tokyo Olympics next year.

Professional sports stadiums in Japan have been limited to 50% capacity, with the vast majority of games going ahead without issue.

Economic revitalization minister Yasutoshi Nishimura, who heads Japan’s COVID-19 fight, told reporters late on Thursday that if the “experiment” was a success, all professional stadiums would be allowed to boost capacity.

Breakingviews - Corona Capital: Payments revolution, Luxury, Autos Read concise views on the pandemic’s financial fallout from Breakingviews columnists across the globe.

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Top Stories

Why 4,998 died in U.S. jails without getting their day in court
The U.S. government collects detailed data on who’s dying in which jails around the country – but won’t let anyone see it. So, Reuters conducted its own tally of fatalities in America’s biggest jails, pinpointing where suicide, botched healthcare and bad jailkeeping are claiming lives in a system with scant oversight. Read the Special Report here.

President Donald Trump and Democratic challenger Joe Biden will return to the campaign trail with visits to three battleground states, a day after the two contenders clashed from afar during dueling televised town hall. The split-screen events, which replaced a presidential debate that was canceled in the wake of Trump’s coronavirus diagnosis, also highlighted the sharp contrast between the two candidates’ approach to the campaign.

Pfizer expects to provide safety data and file for authorization of the COVID-19 vaccine it is developing with BioNTech in late November, delaying any clarity on the vaccine until after the Nov. 3 U.S. presidential election. The regulatory filing for the vaccine could come as soon as safety data is available in the third week of November, Pfizer said, lifting the company’s shares and the broader U.S. stock market.

Shares of gun makers have been gaining ground as Democratic candidate Joe Biden leads polls, and if he wins the presidential election in November there are expectations of a renewed surge in gun sales that could drive shares even higher. Shares of Smith & Wesson Brands and Sturm Ruger have both rallied around 8% since late September, mirroring Biden’s widening lead in the polls since his debate against President Donald Trump.

Business

Wall Street bank trading boom does little to assuage concerns about lending

As Wall Street banks reported quarterly results this week, investors wondered about the staying power of the trading bonanza that has floated profits, offsetting problems in traditional lending businesses that have been hurt by the pandemic.

4 min read

U.S. senators ask Amazon if it tracks employees, curbs bids to form unions

Four Democratic U.S. senators sent a letter to Amazon's Chief Executive Jeff Bezos, demanding answers over its alleged moves to track and monitor employees and limit efforts to form unions.

3 min read

U.S. oil majors pitch more campaign cash to Democrats as frack battle looms

The two largest U.S. energy firms, Chevron and Exxon Mobil, have increased their share of campaign donations to Democrats this year, according to latest filings, amid a looming battle over fracking.

4 min read

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