FACTBOX-Latest on the worldwide spread of the coronavirus

* Australian consumer sentiment took a nose dive last week as a shockingly high reading in inflation fuelled concerns about the cost of living and possible rise in interest rates, a survey showed on Tuesday. * The U.S. economy is expected to continue its expansion this year despite a surprise contraction in the first quarter, the U.S. Treasury's chief economist said, adding that inflation may be peaking.


Reuters | Updated: 03-05-2022 11:44 IST | Created: 03-05-2022 11:40 IST
FACTBOX-Latest on the worldwide spread of the coronavirus
Representative image Image Credit: ANI

Some of Shanghai's 25 million people came out for brief walks and grocery shopping on Tuesday after enduring more than a month under a COVID lockdown, while Beijing embarked on another round of mass testing to control a nascent outbreak. 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 the news. EUROPE

* Poland has no "coherent rationale" to invoke force majeure in an existing contract to stop paying for more COVID-19 vaccines from Pfizer, a European Commission official told Reuters. AMERICAS

* A former Amazon.com Inc employee sued the online retailer, saying it wrongly fired her and demanded she repay wages after she contracted "long COVID". * Costa Rica will offer a fourth dose of the COVID-19 vaccine to the immunocompromised and those over 50.

* U.S. Vice President Kamala Harris has tested negative for COVID-19 on a rapid antigen test and will return to in-person work on Tuesday, her spokesperson said in a statement. ASIA-PACIFIC

** Hong Kong will further ease COVID-19 restrictions, allowing bars to open until 2 a.m. and raising the number of diners permitted at a table to eight from four, as cases in the global financial hub continue to ease, leader Carrie Lam said. AFRICA AND MIDDLE EAST

* Africa's first COVID-19 vaccination plant, touted last year as a trailblazer for an under-vaccinated continent frustrated by sluggish Western handouts, risks shutting down after receiving not a single order, a company executive said. MEDICAL DEVELOPMENTS

* Asthma in children may worsen after infection with the coronavirus, doctors warn. ECONOMIC IMPACT

* Australia's central bank on Tuesday raised its main cash rate by a surprisingly large 25 basis points to 0.35%, its first hike in more than a decade, and flagged more to come as it runs down the curtain on pandemic stimulus. * Comments from a clutch of important Taiwanese companies in the industry over the past week offer a snapshot of both the opportunities and problems they face: a strong market for products, especially in automotive and high-end computing, but difficulty in securing inputs, notably from places in China constrained by COVID-19 lockdowns.

* While inflation is putting the heaviest burden on the poorest, the relatively well-off Indians are coming under the sort of pressure to make cuts in household budgets not seen in years. * Australian consumer sentiment took a nosedive last week as a shockingly high reading in inflation fuelled concerns about the cost of living and a possible rise in interest rates, a survey showed on Tuesday.

* The U.S. economy is expected to continue its expansion this year despite a surprise contraction in the first quarter, the U.S. Treasury's chief economist said, adding that inflation may be peaking. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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