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Thierry Breton, the European internal markets commissioner, said the EU would not buy more Astrazeneca covid-19 vaccine doses after June, but did not rule out future purchases. Library picture: Thierry Breton is seen speaking at a press conference in Luxembourg, 3 May 2021. Photo credit: European Commission/Anthony Dehez 

EU not renewing Astrazeneca deal

The European Commission has not ordered any Astrazeneca covid-19 vaccine doses beyond June, when its current contract expires. The commission is currently taking legal action against the pharmaceutical firm over late deliveries. The EU will count on Biontech-Pfizer doses instead. Sources: DW, Euractiv, Euronews, Marketwatch and Reuters.

Soc Gén shifts focus

The French banking group Société Générale plans to reorient its investment banking and asset management business away from risking trading and towards corporate finance and advisory services. Sources: Bloomberg, Dow Jones, Financial Times and Reuters.

1MDB sues banks

The failed Malaysian development fund 1MDB is suing Deutsche Bank, JP Morgan and Coutts & Co to recover part of the $23bn lost in a corruption scandal. Deutsche Bank said it had not seen the suit, and JP Morgan and Coutts declined to comment. Sources: Bloomberg, Financial Times and Reuters.

Iron ore price up 10%

Supply concerns caused the iron ore price to surge on Monday. Sources: Bloomberg, Financial Times and Wall Street Journal.

Glassmaker to invest in Lux production lines

Guardian reversed course on 200 previously announced redundancies, and outlined upgrades (with government support) to its Bascharage site that the company said will ensure “glass production in Luxembourg will continue for the next 15 to 20 years.” Sources: Delano and Paperjam.

Low yield rates prompt massive Amazon bond sale

Amazon sold a record-breaking $18.5bn in corporate bonds, which it will mainly use to refinance existing debt and to buy back shares. The sale includes $1bn in sustainable bonds, to finance renewable energy, electric vehicles and greener buildings. Sources: Bloomberg, Financial Times and Reuters.

EV production costs to drop: report

The research outfit BloombergNEF forecast that it will be cheaper to manufacture electric cars than fossil fuel-powered vehicles by 2027. Sources: The Guardian, Independent and This is Money.

Luxembourg produced a fifth less greenhouse gas in 2020

CO2 emissions in the grand duchy fell by 18% last year (compared to 2019), the third biggest decrease in the EU. Sources: Delano and Eurostat.

Virgin Galactic evaluating test schedule

Shares in Virgin Galactic slide after it indefinitely postponed its next test flight. The space travel outfit already pushed back the launch date for its first commercial flight. Sources: Bloomberg, CNBC, Investor’s Business Daily and Reuters.

Musk announces cryptocurrency-funded moon mission

Elon Musk’s SpaceX announced that it would launch a dogecoin-funded lunar launch in 2022. Sources: BBC, CNBC and The Verge.

Darkside says money, not geopolitics, is motive behind cyberattack

The cybercrime group Darkside, which hijacked a major US fuel pipeline operator in a ransomware attack, said it was apolitical and not tied to any government. It stated: “Our goal is to make money and not creating problems for society.” Sources: BBC, Bloomberg, Financial Times and The Guardian.

Meituan down sharply after CEO deletes politically tinged post

Shares in Meituan, China’s leading food delivery app, fell by 10% (although they closed 7% down) after the company’s co-founder posted and then quickly deleted a 1,000 year old poem about book burning on social media. Sources: Bloomberg, Financial Times and South China Morning Post.

Green lead widens in German polls

Support for the CDU/CSU bloc of outgoing German chancellor Angela Merkel has slipped further, with only 23% of German voters saying they would vote for the party, a one percentage point loss from the previous week. The CDU/CSU bloc remained in second place, behind the Greens (26%) but still ahead of the SDP (16%). Sources: CNBC, DW, Financial Times and Europe Elects.

Jerusalem conflict escalates

The EU and US called for calm after Hamas, which runs the Gaza Strip, and the Israeli military exchanged rocket fire. Sources: BBC, DW, France 24 and Haaretz.

French soldiers issue new ‘civil war’ warning

A second open letter, reportedly signed by serving members of the French military, warning of a coming civil conflict was published by a right-wing magazine. Sources: AFP, BBC, The Guardian and RFI.

Man accused of forging fake vaccination certificates

A California bar owner was arrested for allegedly selling counterfeit covid-19 vaccination cards, which could be used to attend public events or for travel. It is believed to be the first such case in the US. Reporters were unable to reach him or his lawyer; the man is expected to enter a plea on 18 May. Sources: New York Times, NPR and Washington Post.

Latest Luxembourg covid-19 update

Out of 442 PCR tests conducted on 9 May, 22 Luxembourg residents were positive for covid-19. That is a rate of 3.47 new cases per 100,000 inhabitants (compared to 1.58 on 2 May). The reproduction rate was 0.94, below the target threshold of 1.00 (compared to 0.93). There were 84 covid-19 patients in hospital (compared to 95), including 31 in intensive care (compared to 29). Two people died due to the coronavirus on Sunday, bringing the national total to 804. A cumulative 241,270 vaccine doses have been administered, including 66,144 people who have received two jabs. Sources: Delano and health ministry.

Luxembourg sparkling wines stack up nicely against French in Beaune contest

20 Luxembourg crémants received gold medals (out of 93 total) and five scooped up silver (out of 77 awarded) during the 30th Concours National des Crémants de la France et du Luxembourg. Sources: Delano and Paperjam.

NBC boycotting next year’s Golden Globes

US TV network NBC said it would not broadcast the 2022 Golden Globes ceremony to protest the Hollywood Foreign Press Association’s lack of diversity. Sources: CNBC, The Guardian, Los Angeles Times and NPR.

Sean Combs now performing as ‘Love’

The artist previously known as Puff Daddy, Puffy, P Diddy and Diddy has legally changed his middle name to Love. Sean Combs posted a picture of his new driver licence on Instagram, writing “Welcome to the Love era.” Sources: CNN and People.com.

Today’s breakfast briefing was written by Aaron Grunwald