UK Government signs deal of 60 million doses | UK Market Update

  • Jul 30, 2020 BST
  • Team Kalkine

UK government has signed a supply deal with pharmaceutical company Glaxosmithkline and Sanofi for up to 60 million doses of a potential Covid-19 vaccine being developed by them. The two companies who started working together in April this year have stated that if clinical data was positive, they could get regulatory approval for their vaccine by the first half of 2021. It’s the third vaccine deal by the UK government in just over a week period, last week the government struck deals for 30 million doses of the experimental BioNTech/Pfizer vaccine. Also, there was a deal in principle for 60 million doses of the Valneva vaccine.

Furloughed workers losing their jobs will be eligible for redundancy pay based on their normal wages - not the furlough rate - from Friday. The government said a minority of firms had taken advantage of the current crisis to pay a lower rate. Business Secretary Alok Sharma Said that The new law will ensure workers get their full pay-off. Workers with more than two years continuous service who are made redundant are usually entitled to a statutory redundancy payment that is based on length of service, age and pay, up to a statutory maximum.

The UK car dealership Pendragon plans to cut 1,800 jobs, in the latest sign of the turmoil hitting the automotive industry because of the coronavirus crisis. Pendragon, which employed about 8,000 people before coronavirus struck the UK, said 15 of its stores would be closed with 400 job losses. A further 1,400 redundancies will be made across its dealers and its head office as a result of a review of its operations, which started before the pandemic. The closures and redundancies will cut costs by about £35m a year, leaving it with about 150 stores.

#ukbusiness #ukjobloss #ukgoverment #kalkine

 


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