COVID treatment optimism boosts markets

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Record high share prices

Global financial markets have rallied strongly, fuelled by optimism in medical advances that could support an economic recovery from the pandemic. The US government has just approved a new treatment that uses the plasma of recovered patients.

Tesco temps go perm

Exceptional growth in online order numbers means Tesco will create 16,000 new permanent jobs. Online orders are more profitable, and now account for 16% of their sales (up from 9%). New shopping habits could change the face of the grocery industry - Aldi and Lidl don’t offer online services, whilst Amazon is entering the market with an online-only offering.

New law to protect forests

The UK government plans to require large businesses to prove their supply chains are free from illegal deforestation. The majority of deforestation in the Amazon is illegal, and it’s also responsible for 11% of greenhouse gas emissions. According to environmental groups, 67% of British consumers want the government to do more to tackle the issue.

Firm dumps oil company stocks

A $90bn Nordic hedge fund has dumped its stocks in oil and mining companies in response to their lobbying efforts against climate action. The chief executive of Storebrand, said lobbying to undermine solutions to “the greatest risks facing humanity” is “simply unacceptable”.