Markets hit by coronavirus worries
Global financial markets experienced their sharpest drop in two years on fears that the coronavirus outbreak was not contained and would further dampen the global economy. Stock markets in Europe, the US and Asia fell by more than 3%. Sources: BBC, CNBC, Financial Times, NPR, Reuters, Seeking Alpha and South China Morning Post.
Moderna vaccine to start human trials
Shares in Moderna, a Boston-based biotech firm, were up by more than 15% as it shipped a potential coronavirus vaccine for human testing. Sources: Financial Times, Investor’s Business Daily and Seeking Alpha.
WHO: not pandemic yet
The head of the World Health Organization said the recent spread of new coronavirus cases in Iran, Italy and South Korea was “very concerning”. While the outbreak is not yet a “pandemic”, the world needed “to prepare for a potential pandemic.” He also praised China’s containment efforts. Sources: AFP, BBC, Deutsche Welle, The Guardian and NBC News.
Weinstein convicted of sex crimes
The movie producer Harvey Weinstein was found guilty of sexual assault and rape in a victory for the #MeToo movement, but acquitted of the most serious charge of predatory sexual assault. He is being held in a New York City jail awaiting sentencing; he faces up to 25 years in prison. He faces separate charges in Los Angeles (which he has denied). Sources: AFP, BBC, The Guardian, NPR and Reuters.
German man attacks Carnival crowd
Thirty people, including children, were injured when a man “intentionally” drove his car into a crowd at a Carnival parade in Volkmarsen, in the German state of Hesse. Police said the motive is currently unclear. Sources: Associated Press, CNN, Deutsche Welle, Independent and Irish Times.
Stock market outperforms private equity for 1st time: study
In the 10 years to June 2019, PE returns (15.3%) lagged the S&P500 (15.5%), according to a Bain & Co report. Sources: Axios, Financial Times and Private Equity International.
Prudential breakup call
The US hedge fund Third Point is calling for Prudential to split its US and Asian businesses after taking a 5% stake in the British insurer. Sources: Bloomberg, Financial Times, The Guardian, Reuters and the Telegraph.
Revolut raises more cash
The UK fintech outfit Revolut secured a $500m round of fresh funding, valuing the digital bank at $5.5bn and making it one of the most valuable startups in Europe. Sources: CNBC, Financial Times and The Guardian.
Equinor abandons Australia project
The Norwegian energy giant Equinor dropped controversial plans to drill for oil in the Great Australian Bight. Sources: ABC News, BBC, Bloomberg, Financial Times and Reuters.
Agenda
Wednesday 26 February, 7pm: The Luxembourg School of Contemporary Etiquette holds a workshop entitled “Gentleman Image: how to level up your style”. Thursday 27 February, 6:30pm: Gender diversity among company directors discussed during “10x6: Women on board” in Merl. Saturday 29 February, 7pm: The British Ladies Club hosts its annual quiz night in Weimerskirch. Saturday 29 February, 9:15pm: Canadian comic Dana Alexander and American standup Kemah Bob perform at the Marionnette (deadline to win free tickets: Wednesday 26 February, 9am). Tuesday 10 March, 6:30pm: Delano Live event on online privacy (deadline to win free tickets: Thursday 5 March, 12noon).
For your eyes only
GQ ranked the 24 official James Bond theme songs. (Please note that Delano does not endorse this ranking, as Adele, Duran Duran, Madonna and Tina Turner obviously deserve higher rankings.)
Today’s breakfast briefing was written by Aaron Grunwald