Factbox-Latest on the worldwide spread of the coronavirus

COVID-19 outbreak in Shanghai
·3 min read

(Reuters) - The grocery delivery industry that took off in the depths of pandemic lockdowns is facing a painful period of adjustment that investors say is likely to see only a handful of companies survive in each market.

DEATHS AND INFECTIONS

* Eikon users, see COVID-19: MacroVitals https://apac1.apps.cp.thomsonreuters.com/cms/?navid=1592404098 for a case tracker and summary of news.

ASIA-PACIFIC

* Senior officials from South Korea, the United States and Japan on Wednesday urged North Korea to return to dialogue and accept help to tackle COVID-19, saying the country's missile tests are "serious, unlawful" provocations.

* Shanghai officials are seeking to revive confidence among multinational companies bruised and frustrated by the city's COVID lockdown by holding multiple meetings with foreign companies and easing a key border requirement for overseas workers.

* North Korea on Wednesday reported more than 54,610 new people showing fever symptoms amid the reclusive nation's first reported COVID-19 outbreak, state media KCNA said.

EUROPE

* Workers at France's main Charles De Gaulle airport in Paris will strike on Thursday to demand better pay and working conditions, pointing to rising inflation, and working conditions during the coronavirus pandemic, the CGT trade union said, as European airports struggle to deal with a sudden increase in travellers.

AMERICAS

* The Chilean economy will expand between 1.5%-2.25% this year, after last year's solid recovery from the pandemic, the country's central bank said on Wednesday.

MEDICAL DEVELOPMENTS

* An international agreement on waiving intellectual property rights for COVID-19 vaccines is within reach ahead of a global trade meeting next week, the head of the World Trade Organization said.

* Moderna Inc said a new version of its coronavirus vaccine produced a better immune response against Omicron than the original shot.

* Shares of Novavax Inc surged nearly 20% on Wednesday after advisers to the Food and Drug Administration overwhelmingly backed the use of its COVID-19 vaccine.

ECONOMIC IMPACT

* Emerging market stocks returned to gains on Wednesday, boosted by China blue-chip shares, on hopes of recovery in demand following easing COVID-19 curbs, while Turkey's lira plunged toward record lows on fears of more rate cuts against surging inflationary pressures.

* China's major share indexes posted two-month closing highs on Wednesday, as consumer firms extended their rally on hopes for a demand recovery with easing COVID restrictions.

* Retail car sales in China jumped 30% in May from April, preliminary data published by an industry body showed, as authorities rolled out stimulus to revive the market depressed by the country's measures to combat the spread of COVID-19.

* The Bank of Japan will consider downgrading its assessment on factory output at this month's policy meeting, sources said, as supply disruptions caused by China's strict COVID-19 lockdowns take a heavy toll on the economy.

* Japan's economy shrank slightly less than initially reported in the first quarter, as private consumption remained resilient in the face of resurgent COVID-19 infections and companies rebuilt their stock, offsetting a drop in business spending.

(Compiled by Dina Kartit Shailesh Kuber, and Uttaresh.V; Edited by Shounak Dasgupta and Bill Berkrot)