6 August 2021
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Pfizer via AP

5 things you need to know today

Switzer Daily
22 July 2021

1. Will lockdowns induce a recession?

As the Sydney lockdown drags on, economists say we could go into a recession, but the PM says it won’t happen. At the moment the Reserve Bank and Treasury agree but it will depend on how long the Sydney lockdown persists. Right now, the PM is being blamed for a slow vaccine rollout that has caused the new round of lockdowns but he blames the scientific panel who warned of clots for 50 and 60 year olds, which has spooked these Australians about the AstraZeneca vaccine.

2. Hands up if you can make the Covid vaccine?

And on our vaccine challenge, it looks like local small businesses could soon be making a vaccine here. Already our international company CSL has put its hand up to make the safer Moderna and Pfizer vaccines locally but after a request from our Dept of Industry, Science and Resources, 12 smaller biotech companies officially say they could do it.

3. BHP to exit oil production?

The oil and gas sector could be in for a new age surprise, with BHP considering exiting the industry. The world’s biggest mining group is said to be considering getting out of oil production as investors turn against fossil fuels. This is a $14 billion revenue earner for the company but the news, which looks to have been driven by anti-fossil fuel public sentiment, saw its share price rise by 1.9% on the news.

4. What to watch in the Olympics today

The Olympic action in Tokyo ahead of tomorrow's opening ceremony continues with the Australian women's softball team, the Aussie Spirit, taking on Italy at 4pm AEST, and the Olyroos will take on Argentina at 8:30pm AEST.

5. US stocks continue to rise after Monday's plunge

The Dow Jones was up 286.01 points or 0.83% to 34,798.00 on Wednesday, while the S&P 500 rose 35.63 points or 0.82% to 4,358.69 and the Nasdaq gained 133.08 points or 0.92% to 14,631.95.

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