Trump campaigns in Florida
Donald Trump spoke for about 60 minutes at an outdoor election rally in Florida on Monday. It was his first event outside Washington since contracting covid-19 less than two weeks ago. “They say I’m immune. I feel so powerful,” Trump told supporters. “I will kiss everyone in that audience.” Many attendees were seen not wearing face masks. Sources: ABC News, BBC, The Guardian, New York Times and Reuters.
Confirmed reinfection case
A man in the US caught covid-19 twice, scientists reported, raising questions about lasting immunity to the coronavirus. The man’s second case was more severe than the first. Sources: AFP, BBC, NPR and USA Today.
Luxembourg: relatively little transmission within uni
The majority of covid-19 cases among University of Luxembourg students and staff were not contracted on campus. Eight out of 14 current active infections were found to have an external origin. Source: Delano/Paperjam.
Latest Luxembourg coronavirus figures
One person died due to covid-19 in Luxembourg on Sunday, bringing the total number to 133. Out of 282 PCR tests conducted, 9 were positive. The effective reproduction rate was 1.32 (above the targeted threshold of 1). 45 patients were hospitalised, including 3 in intensive care. Source: Luxembourg health ministry.
Luxembourg gov ends fiscal year in the red
The state will post a budget deficit of €2.9bn (as of 31 August) compared to a budget surplus of €600m last year. The hole was caused by covid-19 stimulus spending and lower tax revenue. Pierre Gramegna, the finance minister (DP), will submit the government’s 2021 budget to parliament on Wednesday. Source: Luxembourg finance ministry.
EU to sanction Russia and Belarus
European foreign ministers, meeting in Luxembourg on Monday, agreed to levy sanctions against Russia over the poisoning of the opposition activist Alexei Navalny (which Moscow denies) and against the Belorussian president Alexander Lukashenko over his crackdown on pro-democracy protestors. Sources: Euractiv, Politico and Reuters.
Allegro jumps after IPO
Shares in the Polish e-commerce firm Allegro rose 63% in their first day of trading, lifting the company’s value to roughly $19bn. Sources: Bloomberg, Financial Times and Reuters.
US markets rally
Tech stocks, led by Apple and Amazon, pushed Wall Street up sharply on Monday. Sources: CNBC, Financial Times and Reuters.
OECD outlines corporate tax plan
The OECD has drafted a blueprint on reforming multinational corporate taxation that could raise €100bn more in revenue for governments worldwide. The plan could be finalised next year. Sources: CNBC, Financial Times and The Guardian.
Disney restructuring around streaming
The world’s largest media company, Disney, is reorganising its business to focus more on video streaming. Sources: Bloomberg, CNBC, Financial Times and Seeking Alpha.
Facebook reverses course on Holocaust denial
In a policy shift, Facebook said it would ban “content that denies or distorts the Holocaust.” CEO Mark Zuckerberg said his “thinking has evolved”. Sources: BBC, Cnet, Deutsche Welle and NPR.
Revolut considering California
Europe’s largest digital bank, Revolut, is “close to applying for a banking license” in the US. Source: CNBC.
BA chief replaced
British Airways CEO Alex Cruz has stepped down with immediate effect as the airline industry faces the covid-19 crisis. Cruz will be replaced by Aer Lingus boss Sean Doyle. Sources: BBC, CNBC, Financial Times and The Guardian.
Nobel economics prize awarded to Stanford profs
Paul Milgrom and Robert Wilson won this year’s Nobel economics prize for their work on auction theory. Sources: BBC, CNN and NPR.
Agenda
Tuesday 13 October, 6:30pm-7:30pm: Irish chamber’s online conference on the impact of covid-19 on the hotel sector. Wednesday 14 October, 12noon-1pm: Delano Live Chat on “Company culture playbook: what changed during covid?” Thursday 15 October, 2pm-5:15pm: Paperjam Club workshop for women looking to develop their professional style. Thursday 15 October, 7pm: British Ladies Club cocktail evening (non-members welcome). Monday 19-Thursday 29 October: Several organisations including Securitymadein.lu host Cybersecurity Week 2020 events.
Home offices
The Dutch are the best at remote working, per the BBC.
Today’s breakfast briefing was written by Aaron Grunwald