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Australia, UK markets may get a boost in vaccine-driven rally, Citi says

first_imgPedestrians wearing protective masks walk past Pfizer Inc. headquarters on July 22, 2020 in New York City. Pfizer and German biotechnology firm BioNTech have agreed to supply the U.S. government with 100 million doses of coronavirus vaccine under a $1.95 billion deal.Jeenah Moon | | Getty Images – Advertisement – U.S. stocks hit record highs while European markets closed 4% higher on Monday, and Citi says the rally will drive up sectors likely to benefit from the new vaccine. – Advertisement – (This story is for CNBC PRO subscribers only.)News of a promising coronavirus vaccine by Pfizer and BioNTech appear to be a “major breakthrough” and could boost major markets like Australia and the U.K., according to Citi Research.Global markets surged on Monday after U.S. pharmaceutical giant Pfizer and German biotech firm BioNTech announced their coronavirus vaccine was more than 90% effective in preventing Covid-19 – beating scientists’ hopes for a vaccine that is at least 75% effective.- Advertisement –last_img read more

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Refunds may be available for sport events called off for coronavirus

first_imgConversely, SeatGeek indicated that in the case someone sold tickets to an event that is canceled due to the coronavirus: “Your sale will be canceled and you will not receive a payout.”You can “contact the original ticket company for a ticket refund,” StubHub said on its website.Fans who bought their tickets through AXS Ticketing will receive refunds if the event is canceled, according to Chandra, a customer service representative. She said AXS will be notified when an event is canceled, at which point refunds automatically will start being issued.Furthermore, if an event is postponed, AXS ticket holders either can hold onto their tickets or request a refund if they’re unable to attend the event on its new date.Similarly, TicketMaster’s website states that refunds will be processed following cancellations, and that the company also will send an email to “get in touch if your event is postponed. Your tickets will be valid for the rescheduled date, but if you can’t make it, you can get a refund.”In the case of a postponement, neither SeatGeek nor StubHub planned to issue refunds.And if a person does not want to attend an event that is on schedule to proceed because of the coronavirus, the two ticket exchanges recommend relisting the tickets for sale. An explanation the StubHub website reads: “You can relist your tickets if you’re not comfortable attending the event.” AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersU.S. sports leagues made the call Monday to keep media and other non-essential personnel out of locker rooms and clubhouses, but those leagues have yet to cancel games or to play them without fans present, although ESPN reported Monday that the NBA’s Board of Governors is expected to discuss those possibilities Wednesday.For now, Staples Center’s website reports that the venue is “closely monitoring the evolving coronavirus situation,” that it continues to welcome guests and that it has implemented preventative measures such as frequent cleaning and monitoring of high-touch areas and arena-wide end-of-event sanitation procedures in line with recommendations by the Centers for Disease Control and Prevention (CDC) and the Los Angeles County Public Health Department.But with more U.S. cancellations likely forthcoming, ticket exchange companies such as StubHub and SeatGeek are letting customers know they can expect refunds if they used those services to purchase tickets to events that wind up being called off.In StubHub’s case, a fan who bought tickets to a canceled event can receive either a full refund or a coupon, to be used within 12 months, for 120 percent of the original purchase, according to the email sent to customers.In the FAQ section on the SeatGeek website, that ticket exchange firm said customers will be protected by the company’s “buyer guarantee” and their orders will be refunded in full. SeatGeek does not offer an option for a coupon to be used later. “Coronavirus Update: We have your back.” So read the subject line of the email that StubHub sent to customers Saturday evening informing them of their options if the events to which they bought tickets are called off.In recent days, sporting events around the world have been canceled or staged without fans as the coronavirus epidemic has grown.On Sunday in the United States, the BNP Paribas Open, a major tennis tournament that was scheduled to take place in Indian Wells starting this week, was canceled after local health officials declared a public health emergency in the Coachella Valley because of a confirmed coronavirus case.On Tuesday, the Ivy League announced that it canceled its men’s and women’s basketball tournaments and awarded its automatic NCAA Tournament bids to the regular-season champions, a decision that came the day after Santa Clara County canceled gatherings with more than 1,000 people, including events at the SAP Center scheduled in March that included the NHL’s San Jose Sharks’ three home games.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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