Day: May 4, 2020

Coronavirus latest: Malaysia blasts WHO advice against palm oil

The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan.

Global cases have reached 3,356,205, according to the World Health Organization.

The worldwide death toll has hit 238,730.

To see how the disease has spread, view our virus tracker charts:

(Source photo by AP) 

Here are the latest developments (Tokyo time):

Tuesday, May 5

1:32 a.m. Malaysia disputes the World Health Organisation’s recommendation that adults avoid palm oil in their diet during the COVID-19 outbreak, with a government agency calling the advice “antiquated.” The Southeast Asian nation

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Hargreaves Lansdown ditches ‘Wealth 50’ best-buy list after Woodford criticism

Hargreaves Lansdown is to scrap its controversial Wealth 50 best-buy list after only 16 months following prolonged criticism over how it picked funds and how slow it was to offload them following the Neil Woodford scandal.

It will replace it with a new Wealth Shortlist, chosen by an independent panel, and overhaul the way it promotes funds and investments to its 1.3 million customers.

The new list will also give greater prominence to ethical and passive funds. The Wealth 50 mainly backed traditional actively run portfolios.

Britain’s biggest broker, with more than £100bn of savers’ money, created the buylist in

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Avigan set for approval this month in Japan as coronavirus drug

TOKYO — Japan looks to approve flu drug Avigan as a coronavirus treatment within the month, Prime Minister Shinzo Abe told reporters Monday, speeding up the process by months.

The drug originally was on track for approval in July or later, but Abe has directed the health ministry to accelerate its review of the drug.

Japan currently has no approved treatments for COVID-19, and the health ministry is giving priority to applications related to the virus. Avigan, developed by a subsidiary of Fujifilm Holdings, blocks viruses from reproducing within the body.

Meanwhile, a Japanese arm of U.S.-based Gilead Sciences filed

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Shoppers prefer brands over private labels in current economic slowdown, study says

Dive Brief:

  • American consumers are reducing their total spending, with 55% cutting spending by 10%-20%, 25% cutting by 30%-40% and 20% cutting spending in half, per the results of new survey of more than 1,000 consumers by Survata that was shared on the company’s blog.
  • Despite cutbacks, surveyed consumers said they preferred to spend on name brand products across many categories as opposed to private labels. For instance, 61% said they choose name brand cleaning products, 58% prefer name brand packaged foods, 57% favor name brand frozen foods and 54% say the same for name brand soda and coffee.
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