Day: February 5, 2021

Bloomberg’s Cortez moving to Hong Kong to be editor

Michelle Fay Cortez

Michelle Fay Cortez, a senior reporter on the health team at Bloomberg News, is moving to Hong Kong to be an editor on the health and consumer team.

She is currently based in Minneapolis.

Cortez has been with Bloomberg since 1992, with stints in Washington, where she covered the FDA, and London.

Her recent reporting has raised questions about the accuracy of Abbott’s rapid virus test, explained why antibodies may not be enough to protect us, given us a harrowing picture of what ventilators do to the human body, and walked through Gilead’s pricing dilemma.

Cortez is a graduate of William & Mary and previously worked at UPI and Market News Service.

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Young British Asian demographic is ahead of the curve

Young British Asians tend to be early adopters of new tech, and by learning how to engage with this expanding market could allow a brand to develop a strong consumer network effect for their products or services, this is according to integrated marketing agency, Mediareach.

Collectively, British Asians make up nearly 7% of the population, and 34.3% of them are between the ages of 18 and 34. Most notably, Indian and Chinese groups are the most affluent ethnic groups in the UK, with 42% of Indian and 29% Chinese households attaining an average weekly income of more than £1,000, compared to 28% of their White British counterparts.

Saad Al-Saraf, CEO at Mediareach, stated: “A recent report called ‘From Ostrich To Magpie’ published by the Confederation of British Industry (CBI), said that the low take-up of readily available technologies could be driving the UK’s productivity problem.

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Bank of England predict that UK economy will rebound strongly thanks to vaccine

The UK’s rapid Covid-19 vaccination programme will help the economy rebound strongly this year, according to the Bank of England.

The economy is expected to shrink 4.2% in the first three months of 2021, amid tighter lockdown restrictions to slow the spread of the virus.

However, policymakers expect a rebound in the spring as people become more confident about spending.

It came as the Bank held interest rates at 0.1%.

‘Rapid’ recovery

The Bank said economic growth was expected to “recover rapidly” in 2021, with a successful vaccination programme supporting a “material recovery in household spending”.

Its latest Monetary Policy Report said the positive vaccine news had driven an increase in UK holiday bookings later this year, though overseas bookings remained muted.

While government support schemes are expected to limit any immediate increase in unemployment, the jobless rate is still projected to rise to 7.8% later this year as the

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