Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute. [EU] European Commission expects EU GDP to contract by 8.3% this year, followed by a 5.8% rebound in 2021.
[Pharmaceuticals] Novavax bags $1.6 billion funding from the US government for virus vaccine to carry out late-stage clinical trial and produce 100m doses by January
[US] New York state financial regulators levy $150 million penalty on Deutsche Bank over lack of oversight pertaining to dealings with Jeffrey Epstein.
[India] ED charges GVK Group with money laundering case over alleged irregularities of INR 700-800 crore in the development of the Mumbai International Airport.
[Automobile] Daimler to take a minority stake in Chinese battery cell maker ‘Farasis’, as the luxury car manufacturer seeks to boost EV production. Daimler AG is the parent company of Mercedes-Benz.
[Markets] Softbank Group shares surged to a 20-year high on Tuesday following significant stock buybacks and Lemonade’s strong IPO, a company that Softbank is an investor in.
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