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Boris Johnson Urges ‘Extreme Caution’ in U.K. Over Christmas

Deutsche Bank Wins Dismissal of Lawsuits by Postbank Investors

Deutsche Bank AG won’t have to pay former Deutsche Postbank AG shareholders more money for the takeover of the retail lender a decade ago, according to a court ruling Wednesday.

The 25 euros-per-share offer was adequate because the two lenders weren’t acting in concert, a Cologne appeals court said, dismissing two lawsuits that had been hanging over Deutsche Bank for years.

While the claimants were seeking 53 million euros ($67 million), investors are still trying to get payouts totaling 700 million euros in separate, pending cases. The Wednesday ruling is likely to influence those lawsuits.

Deutsche Bank spent more than 6 billion euros to buy Postbank. Shareholders were paid under a mandatory takeover offer made in 2010, but the plaintiffssaid the lender should have made a bid in early 2009, when Postbank’s share price was much higher.

The lawsuit was led by Effecten-Spiegel, which started the litigation in 2010 — a day after the deadline for Deutsche Bank’s takeover elapsed. It initially lost in both the Cologne lower court and the appeals court. The company was able to overturn the rulings in 2014 at Germany’s top court, winning a retrial. The case then went back to the Cologne Appeals Court.

Oil Prices Rise On Stimulus Bets

Oil prices rose on Wednesday as progress on vaccine rollouts continued and Congressional leaders inched closer to a breakthrough on U.S. stimulus.

The upside was capped after industry data showed a surprise gain in crude oil inventories in the United States.

Benchmark Brent crude rose half a percent to $50.99 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up half a percent at $47.84 a barrel.

Hospitals across the United States are ramping up Covid-19 vaccinations as a second vaccine developed by Moderna appears poised to receive emergency-use authorization by the U.S. Food and Drug Administration.

Senate Majority Leader Mitch McConnell vowed Tuesday that Congress would not adjourn for the year until the $748 billion relief deal is clinched, in a sign that lawmakers will send a relief bill to President Donald Trump’s desk by the end of the year.

Markets await the outcome of a FOMC meeting later today to see whether the Fed will step up monetary policy accommodation by focusing more asset purchases on the long end of the Treasury yield curve.

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 1.973 million barrels for the week to December 11, contrary to expectations for a draw of 1.9 million barrels.

Jio fastest network in 4G download speed; Vodafone in upload in November: Trai data

Vodafone topped the chart in the upload segment with network speed of 6.5 Mbps. It was followed by Idea with upload speed of 5.8 Mbps, Airtel 4 Mbps and Jio 3.7 Mbps.

Reliance Jio topped the 4G speed chart with data download rate of 20.8 megabit per second (Mbps), while Vodafone was ahead of others in upload speed at 6.5 Mbps in November, according to the latest data update of telecom regulator Trai.

Jio recorded more than double the download speed of its closest competitor Vodafone.

Though, Vodafone and Idea Cellular have merged their mobile business as Vodafone Idea Limited, the Telecom Regulatory Authority of India (Tri) is still releasing separate network speed data of both the entities.

Vodafone recorded download speed of 9.8 Mbps in November, according to Trai’s data updated on December 10. It was followed by Idea and Bharti Airtel with download speed of 8.8 Mbps and 8 Mbps, respectively.

Vodafone topped the chart in the upload segment with network speed of 6.5 Mbps. It was followed by Idea with upload speed of 5.8 Mbps, Airtel 4 Mbps and Jio 3.7 Mbps.

The download speed helps consumers in accessing content from the internet while upload speed helps them in sending or sharing pictures, video etc to their contacts.

The average speed is computed by Trai based on the data it collects across India with the help of its MySpeed application on a real-time basis.

COVID-19 | Cipla partners with Premier Medical Corporation to launch rapid antigen test kits in India

The company said it will commence supply of rapid point-of-care nasopharyngeal swab tests from this week.

Drug major Cipla on Wednesday announced its partnership with the Premier Medical Corporation Private Limited for commercialisation of the rapid antigen test kits for coronavirus (COVID-19) in India.

“In this collaboration, Cipla will be responsible for the marketing and distribution of the Rapid Antigen Detection Test for the qualitative detection of SARS-CoV-2 antigen that will be manufactured by Premier Medical Corporation Private Limited,” Cipla said in a regulatory filing.

The company said it will commence supply of rapid point-of-care nasopharyngeal swab tests from this week. The test will be marketed under the brand name ‘CIPtest.’ Shares of Cipla were trading 0.29% higher at ₹783.95 a piece on the BSE.

Boris Johnson Urges ‘Extreme Caution’ in U.K. Over Christmas

U.K. Prime Minister Boris Johnson urged people to exercise “extreme caution” over Christmas, despite pressing ahead with plans to ease coronavirus restrictions over the holidays.

“We can celebrate it sensibly, but we have to be extremely cautious in the way we behave,” Johnson told lawmakers in the House of Commons on Wednesday.

As many as three households will be able to gather together for five days between Dec. 23 and 27 in England. Ministers have faced growing demands to rethink the approach aftera surge in Covid-19 infections in recent days.