UK retail sales bounce back but economists fear grim autumn ahead – business live

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Rolling live coverage of business, economics and financial markets as retail sales volumes rise by 0.8% in August

  • As many as 5.3m UK workers still on furlough at end of July
  • Economists warn that positive retail picture may worsen in winter
  • Ryanair cuts October flight plans and attacks Irish government
  • FTSE 100 posts declines as industrials drag

1.02pm BST

The EU has signed a deal with drug companies Sanofi and GlaxoSmithKline to provide as many as 300m doses of a possible coronavirus vaccine.

Member states also have the ability to donate reserved doses to lower- and middle-income countries, an option if other vaccines such as one being developed by Oxford University and AstraZeneca are successful.

✅Second #COVID19 vaccine contract signed with @sanofi.

Another step closer to delivering a safe and sustainable exit strategy from the crisis for and citizens.
https://t.co/ELdgozCsot pic.twitter.com/hh2kwP7RJk

With today’s contract with Sanofi-GSK, the European commission shows once again its commitment to ensuring equitable access to safe, effective and affordable vaccines not only for its citizens but also for the world’s poorest and most vulnerable people.

Agreements with other companies will be concluded soon and build a diversified portfolio of promising vaccines, based on various types of technologies, increasing our chances to find an effective remedy against the virus.”

12.56pm BST

Former Labour deputy leader Tom Watson, who accepted an advisory role with the owner of Paddy Power this week, previously described the company’s actions as “dirty” and “money-grabbing” after it took bets on the murder trial of former athlete Oscar Pistorius.

Related: Tom Watson’s ‘dirty’ Paddy Power remarks emerge as he takes job

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