virus

U.K. Insurance Ruling; Businesses Make Deeper Cuts: Virus Update

(Bloomberg) — Citigroup Inc., Qantas Airways Ltd. and Singapore’s United Overseas Bank Ltd. joined companies worldwide making deeper cost cuts, from property and equipment to staff and pay, as the pandemic persists.

A U.K. court ruling in a landmark insurance case could lead to tens of millions of payouts related to Covid-19. Britain’s labor market took a turn for the worse in July, taking total job losses during the crisis to almost 700,000, fresh data showed.

In India, where infections trail only the U.S., total cases approached 5 million. Hong Kong reported no locally transmitted infections for the first time since early July. The city injected its struggling economy with fresh stimulus and lifted some social distancing measures, including temporarily reopening bars.

A vaccine may be available for “ordinary Chinese” as soon as November, the state-owned Global Times newspaper said.

Key Developments:

Global Tracker: Cases pass 29.2 million; deaths exceed

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Businesses Make Deeper Cuts; Hong Kong Stimulus: Virus Update

(Bloomberg) — Citigroup Inc., Qantas Airways Ltd. and Singapore’s United Overseas Bank Ltd. joined companies worldwide making deeper cost cuts, from property and equipment to staff and pay, as the pandemic persist. U.K. job losses during the crisis reached almost 700,000, fresh data showed.

In India, where infections trail only the U.S., total cases approached 5 million. Hong Kong reported no locally transmitted infections for the first time since early July. The city injected its struggling economy with fresh stimulus and lifted some social distancing measures, including temporarily reopening bars.

A vaccine may be available for “ordinary Chinese” as soon as November, the state-owned Global Times newspaper said. In the U.K., researchers are beginning the first study of whether two experimental vaccines can be inhaled.

Key Developments:

Global Tracker: Cases pass 29.2 million; deaths exceed 928,500Lockdowns halt Europe’s air-travel recovery, threaten jobsLagarde leverages virus to push for greener monetary policyThis

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U.S. Has Its Deadliest Day in More Than Two Weeks: Virus Update

The U.S. reported its deadliest day since Aug. 26 while the global death toll from the novel coronavirus moved closer to 1 million. The University of Oxford is resuming trials of an experimental vaccine with AstraZeneca Plc after a halt due to a participant who fell ill.

France, Europe’s latest hot spot, reported the most cases since ending a national lockdown four months ago. Florida’s cases rose slightly. Canada reported no Covid-related deaths for the first time in six months.

Trump administration aides asked for the right to read and suggest changes to weekly Covid-19 reports from the Centers for Disease Control, Politico reported.

Global Tracker: Cases rise above 28.5 million; deaths exceed 917,100Trump’s stimulus end run fizzles as firms spurn payroll tax haltIn smoky San Francisco, Covid-hit businesses suffer double blowThe University of Illinois shows there’s no foolproof reopening planHow hotels are helping their neighbors fight the pandemicWhy telemedicine … Read More

White House Virus Coordinator Birx Praises UA, Student Efforts

TUSCALOOSA, AL. — White House Coronavirus Response Coordinator Dr. Deborah Birx had high praise for the University of Alabama and its students as part of her trip across the south visiting with university and community leaders, which stopped in Tuscaloosa on Friday.

A world-renowned global health official, Birx was appointed to the Office of the Vice President to aid in the government’s response to COVID-19 and can regularly be seen speaking during White House press briefings on matters related to the COVID-19 pandemic.

Birx spent her visit to Tuscaloosa meeting with students, UA administrators and local elected officials, which comes roughly eight weeks after her roundtable meeting with Alabama Gov. Kay Ivey.

“I think what we have found across a series of, particularly the SEC schools where we’re concentrated in this trip, the schools that prepared and had a plan,” she said, pointing also to her visit to the University

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Fauci Names States at Risk; N.Y. Malls Can Reopen: Virus Update

(Bloomberg) — Anthony Fauci, the U.S.’s top infectious disease expert, named seven states most at risk of a jump in Covid-19 cases if they fail to take precautions over the Labor Day weekend. New York malls can reopen at half capacity.

Thailand reported its first locally transmitted case after a streak of 100 days without community infection, while India performed a record 1.17 million daily tests. Israel proposed a lockdown on 600,000 people in the areas hardest hit by the virus.

In Europe, fresh signs emerged that an economic rebound is flagging. Sanofi and GlaxoSmithKline Plc administered their experimental vaccines to patients for the first time in preparation for late-stage trials before year-end.

Global Tracker: Cases surpass 26 million; deaths exceed 863,000Frontrunning Covid vaccines will soon have their moment of truthHow vast Covid response remade central bank toolkits: QuickTakeAirlines fly more gadgets and sea trout to fill passenger voidTrump and … Read More

Amazon creates 7,000 UK jobs as virus fuels online demand

Amazon will create 7,000 permanent jobs in the UK by the end of the year, the US e-commerce giant announced Thursday as the coronavirus pandemic fuels online shopping while hurting bricks-and-mortar businesses.

Following Amazon’s announcement, coffee chain Costa said it planned to axe 1,650 roles in Britain.

While several British retailers and eateries have together axed thousands of jobs following the country’s virus lockdown, others including supermarket giant Tesco are creating lots of jobs to cope with booming online demand.

Amazon said it will add “7,000 permanent roles by the end of 2020 across more than 50 sites, including corporate offices and two new fulfilment centres”.

Its total permanent UK workforce will number more than 40,000, up by a third in just one year as the pandemic triggers a surge in online shopping.

Stefano Perego, Amazon’s vice president of European customer fulfilment, said his company is “employing thousands of talented

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Treasury officials push for bombshell tax hikes to pay for virus

Fuel duty could be increased for the first time in a decade
Fuel duty could be increased for the first time in a decade

Treasury officials are pushing for the largest tax rises in a generation to plug the gaping holes in the public finances, in a move being resisted by Downing Street, The Telegraph can disclose.

The proposed quintuple whammy of tax increases would enable the Exchequer to raise at least £20 billion a year, and some could be introduced as early as in the Budget.

While no decisions have been made, multiple sources have told this newspaper that proposals under active consideration include aligning capital gains tax (CGT) with income tax, slashing pension tax relief, raising fuel and other duties, the introduction of an online sales tax and a simplification of the inheritance tax system.

How the Inheritance Tax take has soared
How the Inheritance Tax take has soared

Some or all could be introduced to pay for the Covid crisis, to finance general government spending pledges

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Amid virus lockdowns, prison ministry groups had to adapt

Normally Teresa Stanfield spends her days in prisons talking with inmates about how she changed the course of her troubled life, and how they can do the same. But the coronavirus has locked her on the outside.

“When COVID came and shut down programming, I was extremely disappointed,” said Stanfield, Oklahoma field director with Virginia-based Prison Fellowship. “But I also knew that God had a plan and we were going to do everything we could to continue to encourage our returning citizens and keep our volunteers connected.”

For Stanfield, the answer was Floodlight. Developed in March after correctional facilities closed to visitors, it’s a collection of spiritual and inspirational programming that’s delivered online and via closed-circuit television to prisons across the country, reaching a total of over 400,000 inmates — 1,000 times more than Stanfield’s largest in-person presentations.

It’s one of the most ambitious and successful examples of how faith-based

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Germany, France Take Action; Melania Talks Covid: Virus Update

(Bloomberg) — Germany will extend a program designed to stop millions of workers losing their jobs, while France is preparing to announce a 100 billion-euro ($118 billion) stimulus plan next week.

U.S. first lady Melania Trump capped the second night of the Republican convention with a speech that focused on the ravages from the coronavirus.

Japan’s virus czar said the country faces a second wave of Covid-19 cases larger than the first. South Korea ordered striking doctors back to work as several countries in Asia tightened restrictions on travelers from South Korea.

Global Tracker: Cases top 23.9 million; deaths pass 819,600Pandemic halts Vietnam’s three-decade economic boomSome countries don’t want to wait for superpowers’ vaccinesBack to school could be dangerous for someUnderstanding the virus and its unanswered questionsVaccine Tracker: Where we are in the race for protection?

Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click … Read More

French Stimulus Plan; Melania Focuses on Pandemic: Virus Update

(Bloomberg) — France’s prime minister said the government will present a 100 billion euro ($118.2 billion) stimulus plan next week, while Iceland’s Finance Ministry submitted a revised fiscal package to parliament.

U.S. first lady Melania Trump capped the second night of the Republican convention with a speech that focused on the ravages from the coronavirus. Houston tried to maintain social distancing while preparing for the blow from Hurricane Laura.

Japan’s virus czar said the country faces a second wave of Covid-19 cases larger than the first. South Korea ordered striking doctors back to work as several countries in Asia tightened restrictions on travelers from South Korea.

Global Tracker: Cases top 23.9 million; deaths pass 819,500Pandemic halts Vietnam’s three-decade economic boomWorst-hit nation in Southeast Asia risks losing in vaccine raceSome countries don’t want to wait for superpowers’ vaccinesBack to school could be dangerous for someUnderstanding the virus and its unanswered questionsVaccine … Read More