August 19 , 2020 - Biz in 60

Japan's exports fall 19.2% as coronavirus hits car sales Japanese exports fell in July as the pandemic continued to hit global car sales. Total exports declined 19-point-2 percent from a year ago, while shipments from abroad were also down around 22-percent. The world's third-largest economy shrank an annualised 27-point-8 percent in the second quarter, marking its worst performance on record. Australia signs deal with AstraZeneca for COVID-19 vaccine Australia has signed a deal with British drugmaker, AstraZeneca, to secure 25-million doses of Oxford University's potential COVID-19 vaccine. If it proves successful, the Australian government will manufacture and supply doses to its entire population free of charge. The vaccine is one of five promising candidates to reach an advanced stage of clinical trials. Maersk reports 25% rise in Q2 earnings to $1.7B The world's largest container shipping line, Maersk, has reported better-than-expected second-quarter profits, despite a slump in global trade. Earnings rose 25-per cent from a year ago to 1-point-7 billion dollars, driven by its cost-cutting efforts. The Danish company expects demand to pick-up in the third quarter but has warned of a 'significant decline' across the year.