Pound hits $1.40 on vaccine optimism; UK retail sales tumble 8.2% – business live

Pound hits $1.40 on vaccine optimism; UK retail sales tumble 8.2% – business live

Sterling rises to $1.40 for first time in nearly three yearsBitcoin hits new record, market cap approaches $1 trillionUber drivers win landmark victoryUK public finances record the first January deficit in 10 yearsUK downturn in February less bad than feared - PMIEurozone services hit in February while factories race ahead 12.33pm GMT Some good vaccine news from Pfizer/BioNTech on their mRNA vaccine for coronavirus that is commonly stored at -70C. It is actually stable at lower temperatures for two weeks, tweeted Pfizer chief executive Albert Bourla.We are continually working to make the Pfizer/BioNTech vaccine as accessible as possible. Today we shared new data demonstrating the stability of the vaccine when stored for 2 weeks at temps more commonly found in pharmaceutical freezers and refrigerators. https://t.co/irOQA2v08p pic.twitter.com/lZhpQctZJ0 12.26pm GMT Manufacturing activity remains patchy, but has held up better than during the first lockdown, according to the latest CBI industrial trends survey. Factory output fell slightly in the quarter to February, but at a slower rate than in the first Covid-19 lockdown last spring.The survey of 296 manufacturers found that output increased in 11 of the 17 sub-sectors. However, growth in these sub-sectors was outweighed by sharp falls in others - particularly