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Jun 14, 2021 4:17 AM UTC The Commodity Futures Trading Commission last week told brokers that facilitate derivatives trading among large banks that they should stop using Libor, or the London interbank offered rate, as a reference rate by July 26. The Tuesday announcement could accelerate the push to phase out the troubled interest-rate benchmark, which underpins trillions of dollars worth of financial contracts. Authorities decided several years ago, after a widespread Libor-rigging scandal, that it should disappear by the end of 2021. Israel Gets New Government to End Netanyahu s 12-Year Rule TEL AVIV-A new Israeli coalition government led by commando-turned-tech entrepreneur Naftali Bennett ended Benjamin Netanyahu s 12-year run in power, but now faces the difficult tasks of reviving an economy battered by the Covid-19 pandemic and preserving a fragile cease-fire with Palestinian militant group Hamas.
British Foreign Secretary Dominic Raab defended the government’s arrangements for the Group of Seven summit after photos emerged of leaders crowding together Saturday night for a barbecue on the beach.
The Group of Seven fell short on a pledge Sunday to donate 1 billion additional vaccine doses to developing nations. President Joe Biden said the U.S. may be able to provide 1 billion more doses to the world by 2023, and again raised the possibility that the virus may have escaped from a Chinese laboratory.
Try refreshing your browser, or Moscow Holds Lotteries; G-7 Vaccine Pledge Unclear: Virus Update Back to video
The governments of Moscow and the surrounding region are raffling off a car and an apartment, respectively, to entice Russians to get vaccinated. The lotteries come as the capital reinstates a lockdown to try curbing a spike in infections.
G-7 leaders have said they would provide an additional 1 billion vaccine doses in the next year, with the U.S. pledging to ship half that target. But it’s unclear how the various commitments break down between fresh announcements, earlier pledges, donations and exports those details may be made clear later Sunday.
Biden Raises Lab Leak Theory; G-7 Falls Short: Virus Update
Bloomberg 25 mins ago
(Bloomberg)
The Group of Seven fell short on a pledge Sunday to donate 1 billion additional vaccine doses to developing nations. President Joe Biden said the U.S. may be able to provide 1 billion more doses to the world by 2023, and again raised the possibility that the virus may have escaped from a Chinese laboratory.
The U.S. death toll is approaching 600,000. The country added 19,675 new cases Saturday, the most since June 2, according to data compiled by Johns Hopkins University and Bloomberg.
The U.K. was removed from Abu Dhabi’s “Green List,” meaning travelers from the country now need to quarantine on arrival in the Middle Eastern city. The move comes as cases rise in the U.K. Prime Minister Boris Johnson said he’s now less hopeful about lifting England’s restrictions as planned on June 21.