1. Japan has Suspended the Use of About 1.63 Million Doses
2. Gold Slumps Before Jackson Hole Meeting
3. France Ends Aid to Businesses

Japan has Suspended the Use of About 1.63 Million Doses

“Foreign materials” were discovered in some doses of a batch of 560,000 vials, according to Japan’s health ministry. Both Japan and Moderna claimed that no safety or efficacy issues had been discovered and that the suspension was only precautionary.

“Moderna confirms having been notified of cases of particulate matter being seen in drug product vials of its COVID-19 vaccine. The company is investigating the reports and remains committed to working expeditiously with its partner, Takeda, and regulators to address this.” Moderna said in a statement.

The contamination could be the result of a manufacturing problem on one of Moderna’s contract manufacturing lines in Spain, according to the company.

Prime Minister Yoshihide Suga stated on Thursday that the issue would have some impact on the country’s immunization plan. He claimed a day earlier that by the end of September, around 60% of the populace will be properly vaccinated.

Japan is dealing with an increase of Covid cases, with eight additional prefectures declaring an emergency on Wednesday.

Gold Slumps Before Jackson Hole Meeting

Gold prices fell on the third day before the Jackson Hole symposium, which investors are eagerly waiting for tomorrow. 

The messages that Fed Chairman Jerome Powell will give at the Jackson Hole symposium tomorrow are on the radar of the markets. It will be followed whether Powell will give signals on when and how asset purchases will be reduced in his speech.

Although the recent recovery in the economy and the rise in inflation have opened up space for the normalization of monetary policy, increasing virus cases continue to threaten the economy.

Nicholas Frappell stated that the ounce price of gold will remain below $ 1,810. Spot gold was down 0.7 percent yesterday.

Today, silver and platinum are also in decline.

France Ends Aid to Businesses

French Economy Minister Bruno Le Maire stated that the government has decided to end general aid to companies during the new type of coronavirus (Covid-19) epidemic. 

Le Maire, in his speech at the France Entrepreneurs Meeting (REF), said that the economy was protected with the aid provided during the epidemic period. Le Maire stated that during the health crisis, there was not much voice criticizing the strategic decisions of the government. He also stated that “We protected the workers, we warded off a wave of bankruptcy and unemployment that would have led to not just an economic but a political crisis like the 1930s.” 

Le Maire stated that the French economy is gaining momentum again and that they expect it to grow by 6 percent, adding that the “whatever the cost” approach used by President Emmanuel Macron when he first announced the aid has come to an end.

Pointing out that they are now turning to a “need-specific” approach, Le Maire said that they will examine workplaces that have lost revenue due to the crisis, Covid-19 health card application, and health regulations, and will continue to help those in need.