AFN NEWS
Thursday, May 6, 2021
1) From ABC News, I’m Daria Albinger. The Biden Administration says it’s behind the change in patent policy when it comes to Covid-19 vaccines. ABC’s Mark Remillard says it’s doing so hoping to hasten the end of the pandemic. “US Trade Representative Katherine Tai in a statement says the Biden Administration supports waiving patent protections for Covid-19 vaccines in order to allow companies around the world to produce doses. Tai says she is working on negotiations at the World Trade Organization to make that happen. Even if an agreement is reached, the Biden Administration will still likely need to ask the companies to share their technology. Pharma companies say they’re concerned about the precedent if this would be set. If Covid-19 is worth waiving patent, why not other life-threatening diseases? Mark Remillard, ABC News.” A trade group which represents several vaccine makers including Johnson & Johnson, Pfizer and AstraZeneca says the Biden plan is a mistake.
2) The President serving up reasons to support a newly
launched Restaurant Revitalization Fund. “Right now, only about a quarter of the
restaurant owners are expected to return to normal operations within the next
six months. We can do much better than that.” And the fund will provide more
than $28 billion in direct relief to restaurants that were impacted because of
the pandemic. //
A federal judge has ruled that the CDC exceeded its authority when it imposed federal eviction moratorium. The Justice Department says they will appeal.
3) Life in prison for two American teenagers convicted in the 2019 slaying of a police officer at a drug sting gone awry. Finnegan Elder and Gabriel Natale Hjorth say they mistook a plain-clothed police officer for a gang member that Elder fatally stabbed the officer and Hjorth had a knife. “There were other people that made some really bad decisions as well. And had those other bad decisions not been made again, Cerciello Rega would be here today, had the carabinieri simply followed protocols for an undercover operation,” Elder family attorney, Craig Peters. You’re listening to ABC News.
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I’m Connell
McShane. This is the Fox Business Report.
Stocks finished mixed, the Dow ending at
an all-time high and the Nasdaq hosting its longest losing streaks since mid-October.
The Dow rising 97 points, the Nasdaq down 51, S&P 500 up 3. // And Uber
business continued to recover in the first quarter as pandemic restrictions eased
and the sale of its self-driving unit helped produced the smallest quarterly loss
in its history as a public company. Uber’s results beating earnings and revenue
expectations with its gross bookings rising 24% year over year and all-time
high with ride volumes improving and its delivery business skill on a tear. //
And PayPal soared a record amount of volume flow through its platform in
the first quarter as the ecommerce wave continued even amid the gradual
reopening of the economy. Shares of PayPal spiking after-hours, after the
company topped expectations with its latest results and raised its full-year outlook.
That’s your Fox Business Report. I’m Hilarie Barsky,
invested in you.
