Monday Briefing: Merck seeks U.S. authorization for COVID-19 tablet

The Reuters Daily Briefing Monday, October 11, 2021 by Linda Noakes Sponsored by   Hello Here's what you need to know. Oil prices jump on the global energy crunch, a U.S. Navy engineer is charged with selling submarine secrets, and the Nobel economics prize goes to 'natural experiments' pioneers Today's biggest stories U.S. Merck & Co has applied for U.S. emergency use authorization for its tablet to treat mild-to-moderate patients of COVID-19, putting it on course to become the first oral antiviral medication for the disease. AstraZeneca asked U.S. regulators last week to grant emergency use authorization for its experimental drug as a preventative therapy, and today announced positive results from a late-stage study. Conservative firebrand and Texas Republican gubernatorial candidate Allen West is receiving care for COVID-19 in a hospital, he said on Twitter, noting that his experience with the illness had strengthened his opposition to vaccine mandates. The U.S. Treasury is being held hostage by Republican Senator Ted Cruz's efforts to halt a Russia-to-Germany gas pipeline, blocking critical appointments when the federal debt limit remains a pressing issue, White House officials and Democrats in Congress say. A U.S. Navy nuclear engineer and his wife have been charged with selling secret information about nuclear submarines to an undercover FBI agent who posed as an operative for a foreign country. Beaches in a southern California city that were shut because of an oil spill last week are set to reopen today, as testing shows no detectable amounts of oil-associated toxins in ocean water. WORLD The United States said the first face-to-face meeting between senior U.S. and Taliban officials since the hardline group retook power in Afghanistan was "candid and professional" and that the U.S. side reiterated that the Taliban would be judged on their actions, not just their words. Vote counting is underway in Iraq, a day after a record low turnout in a parliamentary election, reflecting what many Iraqis say is a loss of faith in the country's democratic process and political class. Iraq has captured Sami Jasim, a high-ranking member of Islamic State in charge of the group's finance and a deputy of slain leader Abu Bakr al-Baghdadi, Prime Minister Mustafa Al-Kadhimi said on Twitter. While Bashar al-Assad is still shunned by the West, which blames him for a decade of brutal war in Syria, a shift is under way in the Middle East, where Arab allies of the United States are bringing him in from the cold by reviving economic and diplomatic ties. North Korean leader Kim Jong Un urged officials to focus on improving citizens' lives in the face of a "grim" economic situation, state media reported, as he marked the anniversary of the country's ruling party. More than 100,000 Poles demonstrated in support of European Union membership after a court ruling that parts of EU law are incompatible with the constitution raised concerns the country could eventually leave the bloc. BUSINESS Oil prices surged again, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid a pick-up in economic activity and restrained supplies from major producers. China property bonds slumped after a developer asked to delay a paper's maturity, underlining default fears stalking markets as offshore bondholders of China Evergrande Group await news of $148 million in looming debt coupons. Mercedes-Benz, the German company founded by the inventors of the motor car, is pouring more resources into its cutting-edge research and design capabilities in China as the center of gravity of the new auto world shifts eastwards. ASOS, the British online fashion retailer, warned that logistics costs and supply chain disruptions could reduce 2022 profit by more than 40% and said CEO Nick Beighton was stepping down with immediate effect. Supply chain pain is only one of the company’s concerns, says Breakingviews columnist Neil Unmack. Economists David Card, Joshua Angrist and Guido Imbens won the 2021 Nobel economics prize for pioneering the use of "natural experiments" to understand the causal effects of economic policy and other events. Quote of the day "People should really notice how despairing so many young people are" Prince Charles understands Thunberg's frustrations Video of the day Scientists simulate life on Mars In the Ramon Crater in the desert of southern Israel, a team of six - five men and one woman - have begun simulating what it will be like to live for about a month on Mars. And finally… Sydney emerges from lockdown, beer in hand Sydney's oldest pub opened one hour early to welcome back its regulars after a more than 100-day lockdown, allowing COVID-19 vaccinated locals to enjoy new freedoms including a morning beer at their favourite bar. Sponsored by Nomura How much debt is too much? Providing creative solutions to get your business to an optimal level Find out more More from Reuters COVID-19 The Great Reboot Disrupted Legal News Breakingviews Thanks for spending part of your day with us. Share your thoughts You are receiving this email because you signed up for newsletters from Reuters. No longer want to hear from us? Unsubscribe from The Reuters Daily Briefing. Terms, conditions, and privacy statement © 2021 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036