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What’s happening: The US Food and Drug Administration has licensed the vaccine for emergency use. The UK and Canada have given the green light to begin distribution.
Companies have been preparing for this moment for months. Thermo King, which revolutionized food transportation through advancements in temperature-controlled shipping before World War II, has been working with pharmaceutical companies, governments, and logistics companies to ensure vaccines remain frozen while traveling to clinics and hospitals.
To make this happen, they have reworked the containers typically used to transport fresh tuna to Japan, which requires similar cold conditions.
“We took that product and modified it,” Francesco Incalza, president of Thermo King Europe, Middle East and Africa, told me.
Tuna should be stored at -60 degrees Celsius, or -76 degrees Fahrenheit, to maintain its quality and deep red hue when it reaches supermarkets and restaurants, Incalza said. Pfizer-BioNTech vaccine should be stored at -70 degrees Celsius, or -94 degrees Fahrenheit, while in transit.
It is just one example of how companies are prepared to handle the delicate and complex process of vaccine distribution.
Airlines will be at the center of the effort. Vaccine delivery will require about 8,000 flights, according to the International Air Transport Association.
“Everybody needs this vaccine,” said Gates, co-chair of the Bill and Melinda Gates Foundation. “If we only take it to high-income countries, this disease will spread. We will see double the deaths.”
The British pound could be heading for a crash
Currency traders who once assumed a deal would be completed before the Brexit transition period ended on January 1 have been nervously watching the latest signs from London and Brussels.
British Prime Minister Boris Johnson traveled to Brussels last week to dine with the President of the European Commission, Ursula von der Leyen. The trip failed to produce a breakthrough on thorny issues, including fishing rights, government grants for businesses and how disputes would be resolved.
Investors are likely to view the extension as a positive sign. But they won’t be able to fully relax until a deal has been made.
“The binary result [deal or no-deal] it’s on the razor’s edge, potentially setting the pound up for a huge move once the Brexit saga comes to an end, “said Han Tan, a market analyst at FXTM, in a research note on Friday. The fact that the pound has not yet “capitulated” against the dollar suggests there is still “pent-up hope” that a deal will be secured, he added.
The pound was trading around $ 1.35 earlier this month when a deal between the UK and its biggest export market seemed most likely. Analysts have warned that the currency could drop quickly to $ 1.20 if it becomes clear that a deal is no longer possible. On Friday, it was hovering around $ 1.32, a decrease of 0.6%.
Until next time
Monday: OPEC monthly report
Wednesday: Decision of the Federal Reserve; Retail sales in the United States; Flash PMI data
