Five Things You Need to Know to Start Your Day

Good morning. Markets alarmed by new virus variant, fishermen step up pressure in the English Channel and a potentially massive PE buyout. Here’s what’s moving markets.

There’s a new coronavirus variant. B.1.1.529 has been identified in South Africa, and has scientists worried about a high number of mutations in its spike protein. Those spikes play a big role in how the virus enters the body, and are also the feature targeted by vaccines. We don’t yet know whether it’s more infectious or deadly than other variants, but governments aren’t taking any chances: The U.K. has banned flights from six countries in southern Africa. Still, the variant has already been found in travelers arriving in Hong Kong.