Monday, November 30, 2020 3:49 AM EST
By The Associated Press, AP
Global shares fall despite fresh records on Wall Street
TOKYO (AP) — Global shares have fallen despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the global economy.
In early trading, France’s CAC 40 fell 0.6%, while Germany’s DAX shed 0.2%. Britain’s FTSE 100 dipped 0.3%.
In Asia, Japan’s benchmark Nikkei 225 finished 0.8% lower. South Korea’s Kospi lost 1.6%. Hong Kong’s Hang Seng edged down 2.0%, while the Shanghai Composite slipped 0.5%.
U.S. shares also are set to decline as Dow futures drop 0.9% and S&P 500 futures fall 0.7%.
Biden looks to fill out economic team with diverse picks
UNDATED (AP) — President-elect Joe Biden is expected in the coming days to name several of his most senior economic advisers. The group includes liberal economists and policy specialists who established their credentials during the previous two Democratic administrations.
Biden is placing a premium on diversity in his selection of Cabinet nominees and key advisers. Two expected to be named are former Fed chair Janet Yellen as treasury secretary and Neera Tanden to head the Office of Management and Budget.
Yellen would be the first female treasury secretary. Tanden would be the first woman of color and the first South Asian woman to lead the agency that oversees the federal budget.
China’s manufacturing accelerates in November
BEIJING (AP) — A survey shows China’s manufacturing activity accelerated in November as its rebound from the pandemic gained strength while the United States and Europe struggled with rising infections and renewed controls on business.
The monthly purchasing managers’ index issued by the state statistics agency and an industry group rose to 52.1 on a 100-point scale on which numbers above 50 show an expansion. That was up from October’s 51.4.
Business conditions have largely returned to normal since the ruling Communist Party declared the outbreak that began in southwestern China under control in March.
VIRUS OUTBREAK-BRITAIN VACCINE
UK stocks up on vaccines, hopes to start virus shots in days
LONDON (AP) — Britain says it has secured 2 million more doses of a promising coronavirus vaccine as the country aims to launch an inoculation program within days. The U.K. government has agreed to buy more than 350 million doses of vaccines from seven different producers, should they prove effective.
The Department of Health said Sunday it had increased its order for a vaccine developed by U.S. firm Moderna from 5 million to 7 million doses, enough for 3.5 million people.
British media say hospitals have been told they could receive the first doses of another vaccine, developed by Pfizer, during the week of Dec. 7, if it receives approval from the U.K.’s medicines regulator.
Record hospitalizations for coronavirus in California
LOS ANGELES -- More than 7,400 people are hospitalized for coronavirus in California, the state’s highest number yet.
The state reported 7,415 coronavirus hospitalizations on Sunday, citing the most recently available data from the previous day. More than 1,700 of those patients were in intensive care units. California’s previous record was 7,170 in July.
As of Sunday, California has had nearly 1.2 million confirmed coronavirus cases and more than 19,000 deaths since the pandemic began. The state reported around 15,600 new cases on Saturday.
Stricter COVID-19 restrictions in California take effect today amid surging cases and Thanksgiving travel. Health officials are preparing for a wave of cases in the next two or three weeks that could be tied to holiday gatherings.
Teladoc eyes several new phases of growth for telemedicine
UNDATED (AP) — Fresh off a big acquisition and riding a wave of customer growth, Teladoc Health is ready to do more for patients. The CEO says the telemedicine provider can play a big role in helping people manage high blood pressure, diabetes or other chronic conditions.
Plus he wants customers to think well beyond primary care when they consider telemedicine, which involves care delivered remotely, often with a live video connection through smartphones or tablets.
Last month, Teladoc finished a more than $18 billion deal to buy the technology company Livongo. Separately, the telemedicine provider said its total visits have more than doubled to 7.6 million so far this year, as COVID-19 has pushed more people to try remote care.
VIRUS OUTBREAK-REMOTE WORKERS-HAWAII
Hawaii seeks to be seen as a remote workplace with a view
HONOLULU (AP) — A group of Hawaii leaders launched a campaign Sunday to promote the islands as an appealing location for a remote office with a view. Now that many companies, especially in the tech industry, allow employees to work from anywhere during the pandemic, they hope Hawaii will be alluring.
They’re also throwing in roundtrip tickets to Honolulu for the first 50 approved applicants.
Some say high-paid workers will bolster an economy decimated by dramatically fewer tourists. Others worry what those with Silicon Valley money will mean for housing, especially when there’s already a crunch for affordable places to live.
Testing new release strategy, ‘The Croods’ opens to $14.2M
NEW YORK (AP) — Testing a novel release strategy, Universal Pictures’ animated sequel “The Croods: A New Age” had one of the best opening weekends of the pandemic, grossing $14.2 million over the Thanksgiving holiday weekend, according to studio estimates Sunday.
Whereas new releases have traditionally lasted around 90 days in theaters, Universal has mapped out a shorted theatrical window in deals with major chains AMC and Cinemark that gives the studio the option to move new releases to premium video-on-demand after just 17 days.
“The Croods: A New Age” is expected to shift to the home before Christmas. “The Croods: A New Age” grossed $9.7 million Friday-Sunday, which rivals even the weekend start for “Tenet” in September.