December 9, 2020 - Biz in 60

UK to ditch tariffs on US goods in Airbus-Boeing dispute The UK is dropping EU tariffs against the US over aircraft subsidies, as it looks to seal a post-Brexit trade deal with Washington. Last month, the European Union imposed tariffs on US imports worth 4-billion- dollars after the World Trade Organization ruled the US had given illegal state aid to Boeing. The UK's decision will come into effect in January, when Britain becomes an independent trading nation. UAE says China's COVID-19 vaccine has 86% efficacy rate The United Arab Emirates' health ministry says China's state-backed coronavirus vaccine has an 86-percent efficacy rate. The Gulf nation started Phase 3 clinical trials of the Sinopharm vaccine in July, involving 31-thousand volunteers across 125 nationalities. The ministry also says the results show no serious safety concerns. Uber sells its air taxi business Elevate to Joby Aviation Uber Technologies has agreed to sell its air taxi business, Uber Elevate, to aerospace firm, Joby Aviation. The transaction is part of a complex deal that includes Uber investing 75-million- dollars into Joby and an expanded partnership between the two companies. The sale comes a day after the ride-hailing firm offloaded its self-driving unit to Aurora.