Daily Finance & Global News 25th September 2020 | WECHAT, ASTRAZENECA, MICROSOFT

 

1. Justice Department Asks Judge To Allow U.S. To Bar Wechat From U.S. App Stores.
   The U.S. Justice Department asked a federal judge in San Francisco early on Friday to allow the government to bar Apple Inc and Alphabet Inc’s Google from offering WeChat for download in U.S. app stores pending an appeal.
   The filing asked U.S. Magistrate Judge Laurel Beeler to put on hold her preliminary injunction issued Saturday. That injunction blocked the U.S. Commerce Department order which was set to take effect late on Sept. 20 and that would also bar other U.S. transactions with Tencent Holding’s WeChat, potentially making the app unusable in the United States.
2. Oil Heading For Weekly Decline As Coronavirus Demand Concerns Mount.

Oil prices slipped on Friday and were set for a weekly decline due to mounting worries about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya.
Brent crude was down 4 cents at $41.90 a barrel by 0635 GMT, while U.S. WTI crude dropped 8 cents to $40.23. Brent is heading for a drop of nearly 3% this week with U.S. crude on track for a decline of around 2%.

3. U.K. Budget Deficit Hits $222 Billion Under Lockdowns.
   U.K. government borrowing soared to 173.7 billion pounds ($222 billion) in the first five months of the fiscal year as the costs of coronavirus pandemic continued to mount.
   The budget deficit in August alone was 35.9 billion pounds, the Office for National Statistics said Friday. Britain now has borrowed more since a national lockdown was imposed in March than during the whole of the year following the 2008-09 financial crisis.
4. Astrazeneca Gets Partial Immunity In Low-Cost EU Vaccine Deal.
   European governments will pay claims above an agreed limit against AstraZeneca over side-effects from its potential COVID-19 vaccine, under different terms to a deal struck with Sanofi, an EU official told Reuters.
   The deals reflect different strategies by two of the world’s top drugmakers for protecting themselves as a debate rages about liabilities for vaccines aimed at ending the pandemic.
5. Microsoft Supports Commission Calling For Re-Establishment Of U.S. Cyber Czar.

Microsoft Corp said on Thursday it supports the Cyberspace Solarium Commission, which recommends the re-establishment of a cybersecurity czar.
The commission has called for the establishment of a single individual responsible for leading national cybersecurity strategy and coordinating federal government efforts.