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BreakingviewsCapital Calls: EUâs vaccine feud is more political than financial
Reuters
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A healthcare worker holds a dose of AstraZeneca s vaccine against coronavirus disease (COVID-19), during a pilot test which aims to apply 20,000 vaccines per day in coming months, at Fira de Montjuic in Barcelona, Spain, April 26, 2021.
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JAB JOSTLE. Europeâs legal battle with AstraZeneca (AZN.L) may be more about politics than money. The European Commission said on Monday it had launched a legal action against the $138 billion drug giant for not making good on its contract to supply Covid-19 vaccines, and not having a âreliable planâ to ensure delivery read more . AstraZeneca says the claim is without merit.
– Kering rebounds
Dodging the question. Sometimes democracy brings change. At Bank of America, it brought more of the same. The bank’s shareholders voted on Monday against a proposal to audit the lender’s impact on communities of color, according to a preliminary tally.
That will please rivals JPMorgan, Wells Fargo, Citigroup and Goldman Sachs, whose shareholders face the same question in coming weeks. They should see it as only a temporary reprieve.
Big U.S. banks are keen to tout their efforts to improve diversity and boost lending to marginalized communities, yet many have been twitchy about this year’s spate of proposals that they conduct external racial audits. JPMorgan and Citigroup asked the U.S. Securities & Exchange Commission to let them snip the question from their annual ballot – unsuccessfully. All five banks have argued they are already taking action.
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