Philippines workers resort to bicycles amid lockdown

In the capital, Manila, thousands of essential workers resort to bicycles after public transport was shut down amid the coronavirus lockdown.

During the coronavirus lockdown in the Philippines capital, Manila, thousands of essential workers have resorted to bicycles – after public transport was shut.

And now, as restrictions are beginning to ease, it is hoped the new two-wheel habit will stick around.

Al Jazeera’s Jamela Alindogan reports.

U.S. aviation unions ask Congress to extend payroll aid through March

CHICAGO, June 25 (Reuters) – Six U.S. unions representing aviation workers asked Congress on Thursday to extend payroll aid through March 31, warning that hundreds of thousands of workers could lose their jobs and health insurance, according to a letter to lawmakers seen by Reuters.

Under the CARES Act passed earlier this year, Congress awarded $32 billion to help airlines and airports meet payroll through Sept. 30, but without a recovery in travel demand, airlines have warned that they may need to lay off employees in the fall. (Reporting by Tracy Rucinski; Editing by Leslie Adler)

US elections: Primaries taking place in some states

Pennsylvania is one of four US states that will vote for their preferred candidate on Tuesday and national polls there show that Joe Biden is more popular than Donald Trump among senior citizens.

The protests and the coronavirus pandemic are both happening during this election year in the United States.

President Donald Trump is all but certain to take on former Vice President Joe Biden, who is almost certain to become the Democratic nominee.

Still, the primary election process continues, and four states will vote for their preferred candidate on Tuesday.

Al Jazeera’s Kristen Saloomey reports from Pennsylvania.

Zimbabwe tobacco: Biggest foreign currency earner hit by COVID-19

Zimbabwean farmers describe how the coronavirus pandemic is eating into a vital cash crop.

Tobacco is crucial for Zimbabwe’s economy.

It brings in foreign currency – which helps with cash and fuel shortages.

But the coronavirus pandemic is making that more difficult.

Al Jazeera’s Haru Mutasa reports from the farming village of Beatrice.

Biotech Stocks Facing FDA Decision In July 2020

As the first half of 2020 looks set to end on an encouraging note for new drug approvals despite the ongoing coronavirus pandemic, we take a look at news stories that made headlines on the regulatory front this month.

A new therapy by the name Uplizna, developed by Viela Bio (VIE), received FDA approval on June 11, for the treatment of neuromyelitis optica spectrum disorder, a rare autoimmune disease of the central nervous system that mainly affects the optic nerves and spinal cord. Uplizna is only the second approved treatment for the disorder, the other being Alexion’s Soliris.

On June 16, Novartis’ Ilaris, the first treatment for adult-onset Still’s disease, a severe and rare inflammatory disorder, secured the FDA stamp of approval.

Another first that merits mention is the FDA approval of Ultragenyx Pharmaceutical Inc.’s (RARE) Crysvita for the indication of tumor-induced osteomalacia, the first therapy for a rare disease that causes low phosphate blood levels and bone softening.

As of this writing, 24 novel drugs have received FDA approval so far this year compared to just 13 during the same period last year. For the full year of 2019, forty-eight novel drugs made it to the finish line.

Let’s take a look at the biotech stocks facing FDA decision in July.

RPT-Tokyo June core CPI rises 0.2% yr/yr

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TOKYO, June 26 (Reuters) – Core consumer prices in Tokyo rose 0.2% in June from a year earlier, government data showed on Friday.

The core consumer price index for Japan’s capital, which includes oil products but excludes fresh food prices, compared with economists’ median estimate for a 0.2% annual rise.

BOJ's Kuroda says see no imminent need to lower entire yield curve

TOKYO, June 26 (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Friday he did not see an immediate need to lower the entire yield curve, stressing that the central bank should instead focus on easing corporate funding strains and stabilising markets.

In an online seminar, Kuroda also said that while capital and liquidity requirements are necessary, those buffers should be utilised “when the extreme need for financing the economy arises.” (Reporting by Leika Kihara Editing by Chang-Ran Kim)

PG&E Is Said to Raise $5.5 Billion Selling Shares, Equity Units

PG&E Corp. raised $5.5 billion in a common share and equity unit offering to help finance its exit from the biggest utility bankruptcy in U.S. history, according to people familiar with the matter who asked not to be identified.

The California power giant sold $4 billion of shares at $9.50 apiece, the people said, asking not to be identified because the information is private. The price represents a 2.4% discount to Thursday’s close of $9.73.

The equity units, which raised about $1.5 billion, have a coupon of 5.50% and a conversion premium of 22.50%, the people said. The company declined to comment. The company launched the offering Monday intending to raise a total of $5.23 billion.

Australian State Records 30 New Virus Cases as Testing Ramps Up

Australia’s second-most populous state has recorded 30 new coronavirus cases as authorities seek to avert a second wave of infections.

The state is ramping up testing, with 20,000 carried out in the past 24 hours across hotspots in Melbourne’s northern and eastern suburbs.

The outbreak in Victoria, which has now had 10 consecutive days of double-digit increases, has caused neighboring New South Wales to warn travelers from the state to stay away. That will likely be a further blow to domestic tourism, with much of the nation about to start mid-winter school holidays.

The Northern Territory on Friday recommitted to opening its borders on July 17. Still, arrivals will need to sign a statutory declaration that they haven’t visited a local government area designated by health authorities as a virus hotspot, with penalties for misleading statements leading to fines or imprisonment.

Of the new cases in Victoria, seven are linked to known outbreaks, five have been detected in hotel quarantine, five have been detected through routine testing, and 13 are under investigation.