Get Latest Business News from All Over the World 24/7 throughout the Year: June 2020

Tuesday 30 June 2020

Jim McDonald Stays Cautious on Markets (Radio)

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Aeromexico Files for Chapter 11 Bankruptcy Protection on Virus

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Goodbye 'V,' Hello 'W,' Fed Warning, Labor Destruction: Eco Day

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Senator Toomey: Hong Kong Security Law 'Very Disturbing'

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COVID-19 and Protecting Vulnerable Populations (Podcast)

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Coronavirus: How much does your boss need to know about you?

Firms are collecting a lot more information about staff as they try to contain coronavirus risks.

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Wednesday: ADP Employment, ISM Mfg Index, Construction Spending, FOMC Minutes

Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, The ADP Employment Report for June. This report is for private payrolls only (no government). The consensus is for 3,000,000 payroll jobs added in June, up from 2,760,000 lost in May.

• At 10:00 AM, ISM Manufacturing Index for June. The consensus is for the ISM to be at 49.0, up from 43.1 in May.

• At 10:00 AM, Construction Spending for May. The consensus is for a 1.0% increase in construction spending.

•All day, Light vehicle sales for June from the BEA. The consensus is for light vehicle sales to be 13.0 million SAAR in June, up from 12.2 million in May (Seasonally Adjusted Annual Rate).

• At 2:00 PM, FOMC Minutes, Meeting of June 9-10, 2020

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Coronavirus latest: Record increase for Texas propels daily US case count above 44,000

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Hong Kong’s pre-eminence threatened by new law

Security provisions appear to sweep away the autonomy that made the territory Asia’s financial centre

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EU Ban On Americans To Impact Tourism

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Danielle DiMartino Booth Says Fed Needs New Tools(Radio)

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Pence, Azar Urge Americans to Wear Masks

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Kyle Rodda Is Cautious About Equity Markets(Radio)

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Neo CEO on Facebook, New Graduates, Code.org

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Facebook Critics Target One Thing CEO Won't Cede: Control

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Data Provider Dun & Bradstreet Said to Raise $1.7 Billion in IPO

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Fauci Gives Grim Warning; Texas Cases Hit Record: Virus Update

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'What'd You Miss?' Full Show (06/30/2020)

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'My business will close if I can't reopen soon'

Spas and complementary therapists say they will not survive the pandemic if they cannot reopen.

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These 5 factors are transforming the healthcare experience for both patients and doctors

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THE MONETIZATION OF OPEN BANKING: How legacy institutions can use open banking to develop new revenue streams, reach more customers, and avoid losing out to neobanks and fintechs

UK Open Banking Ecosystem Business Insider Intelligence

This is a preview of The Monetization of Open Banking research report from Business Insider Intelligence.
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Open banking has arrived, and it's transforming the UK's banking landscape — next up could be the world. Regulatory efforts in the UK are transforming retail banking, reshaping incumbents' relationships with customers, and easing entry for fintechs.

Regulators across every continent are responding with actions of their own. Underpinning open banking initiatives is the idea that ownership of transactional data belongs to consumers instead of incumbent financial institutions.

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11 critical questions about the coronavirus that remain unanswered, 6 months after the first cases were reported

coronavirus covid 19 glass virsu structure shape receptors glass model GettyImages 1213231979 Finnbarr Webster/Getty Images

Experts continue to study the coronavirus as the number of people it infects and kills rises each day.
Scientists are increasingly certain the coronavirus came from bats but aren't sure exactly how it hopped over to humans.
Researchers also don't yet know why the virus doesn't cause symptoms in most children or how long people with antibodies might be immune.
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In the realm of medicine, what you don't know can indeed kill you.

Six months have passed since China reported the first coronavirus cases to the World Health Organization. But evn now, what experts are still trying to understand sometimes seems to outweigh what they can say for certain.

That is little surprise to any infectious-disease researcher: Highly contagious diseases can move through communities much more quickly than the methodical pace of science can produce vital answers.

What we do know is that the coronavirus seems to have emerged in China as early as mid-November and has now reached 188 countries, infected more than 10.4 million people, and killed around 510,000. Population-level studies using new testing could boost case numbers about 10-fold in the US and perhaps elsewhere as well.

As hospitals around the world care for COVID-19 patients with blood clots, strokes, and long-lasting respiratory failure, scientists are racing to study the coronavirus, spread life-saving information, and combat dangerous misunderstandings.

Here are 11 of the biggest questions surrounding the coronavirus and COVID-19, and why answering each one is critically important.

How did the new coronavirus get into people?

Themba Hadebe/AP Photo

The first coronavirus infections was thought to have emerged in a wet market in Wuhan, in China's Hubei province. But newer research suggests the market may simply have been a major spreading site.

Researchers are fairly certain that the virus — a spiky ball roughly the size of a smoke particle — developed in bats. Lab tests show that it shares roughly 80% of its 30,000-letter genome with SARS (severe acute respiratory syndrome), a virus that also came from bats and triggered an epidemic in 2002 and 2003. It also shares about 96% of its genome with other coronaviruses in bats.

Mounting evidence continues to undercut the conspiracy theory that the virus came from a Chinese laboratory.

Still, researchers still aren't sure how the coronavirus made the jump from bats to humans. In the case of SARS, the weasel-like civet became an intermediate animal host. Researchers have suggested that civets, pigs, snakes, or possibly pangolins — scaly nocturnal mammals often poached for the keratin in their scales — were an intermediary host for the new coronavirus. But it could also be that the virus jumped straight from bats to humans.

A May study suggested that SARS-CoV-2 (the virus' clinical name) may be a hybrid of bat and pangolin viruses.

Why it matters: Understanding how novel zoonotic diseases evolve and spread could lead to improved tracing of and treatments for new emerging diseases.

How many people have actually gotten COVID-19?

Jim Urquhart/Reuters

Global tallies of cases, deaths, recoveries, and active infections reflect only the confirmed numbers — researchers suspect the actual number of cases is far, far larger.

For every person who tests positive for the novel coronavirus, there may be about 10 undetected cases. This is because testing capacity lags behind the pace of the disease, and many governments, including in the US, failed to implement widespread testing early on.

New estimates from MIT suggest the world had already seen 249 million coronavirus cases and 1.75 million deaths by June 18. That would make the global case total 12 times higher than official reports, and the global death toll 1.5 times higher.

Other similar research estimated that the US alone may have seen 8.7 million coronavirus cases from March 8 to 28. US researchers also suggested in May that the nation's official death count may "substantially understate" the actual number of coronavirus fatalities.

Meanwhile, Italian studies suggest that Italy's coronavirus deaths could be twice as high as the official tally.

Why it matters: An accurate assessment is critical in helping researchers better understand the coronavirus' spread, COVID-19's mortality rate, the prevalence of asymptomatic carriers, and other factors. It would also give scientists a more accurate picture of the effects of social distancing, lockdowns, contact tracing, and quarantining.

What makes the coronavirus so good at spreading?

Indonesian Foreign Ministry via AP

Viruses are small, streamlined particles that have evolved to make many, many copies of themselves by hijacking living cells of a host.

The measurement of a virus' ability to spread from one person to another is called R0, or R-naught. The higher the value, the greater the contagiousness — though it varies by region and setting. The novel coronavirus' average R0 is roughly 2.2, meaning one infected person, on average, spreads it to 2.2 people. But it had a whopping R0 of 5.7 in some densely populated regions early in the pandemic.

The seasonal flu, by contrast, has an R0 of about 1.3.

A person's ability to transmit the virus depends partly on their viral load: the amount of virus particles they release into the environment. Coronavirus patients tend to have high viral loads in the throat, nasal cavity, and upper respiratory tract, which makes the virus highly contagious. Research indicates that there's little difference in the viral loads between coronavirus patients who show symptoms and those who don't.

Coughing — a signature symptom of COVID-19 — helps spread viruses in tiny droplets, especially in confined spaces. But the virus can also spread through singing, normal breathing, or even loud conversation.

Just one minute of loud speech can produce over 1,000 coronavirus-containing droplets that linger in the air for eight minutes or longer, according to research from the National Institutes of Health. Studies have shown that just a few hundred copies of a respiratory virus are enough to infect another person.

There's also evidence the virus may be spread by feces, but that seems to pose less of a transmission threat.

Why it matters: Knowing how a virus gets around can help everyone better prevent its spread. Getting a handle on its behavior may also spur governments to act sooner to contain future outbreaks of this or other similar diseases.

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Republicans, except Trump, are now pushing for widespread mask use to save lives

As states across the US see a resurgence of the coronavirus, GOP officials are pushing back against the notion that masks are about politics, as President Donald Trump suggests.
Sen. Lamar Alexander, a Tennessee Republican, on Tuesday bluntly called on Trump to start wearing a mask, at least some of the time, to set a good example.
It's a rare break for Republicans from Trump, who earlier this month told the Wall Street Journal that some people wear masks simply to show that they disapprove of him.
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WASHINGTON (AP) — In Republican circles — with the notable exception of the man who leads the party — the debate about masks is over: It's time to put one on.

As a surge of infections hammers the South and West, GOP officials are pushing back against the notion that masks are about politics, as President Donald Trump suggests, and telling Americans they can help save lives.

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Monday 29 June 2020

'Bloomberg Technology' Full Show (06/29/2020)

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Tuesday: Case-Shiller House Prices, Fed Chair Powell Testimony

Note: Here is Fed Chair Powell's prepared testimony: Coronavirus and CARES Act

From Matthew Graham at Mortgage News Daily: Mortgage Rates Continue at All-Time Lows, But Caveats Remain

Mortgage rates were unchanged to slightly lower today, bringing the average lender right in line with all-time lows. [30YR FIXED - 2.95%]
emphasis added

Tuesday:
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for April. The consensus is for a 3.8% year-over-year increase in the Comp 20 index for April.

• At 9:45 AM, Chicago Purchasing Managers Index for June.

• At 12:30 PM, Testimony, Fed Chair Jerome Powell, Coronavirus Aid, Relief, and Economic Security Act, Before the Committee on Financial Services, U.S. House of Representatives

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Uber Makes Offer to Buy Postmates Delivery Service

The ride-hailing company has been trying to expand its food-delivery business to compensate for the collapse of its main business.

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Francis Bacon Triptych Sells for $84.6 Million

Sotheby’s tests a new hybrid auction market with a large-format work by the British painter.

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Fraudulent Covid Antibody Tests? FBI Warns of Scammers, Identity Theft

Scammers are out to get personal information that could lead to identity theft.

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FINTECH AND FINANCIAL INCLUSION: How low-overhead direct banking models enable banks to profitably serve the US' 33 million underbanked households

This is a preview of the Fintech and Financial Inclusion research report from Business Insider Intelligence. Purchase this report. 14-Day Risk Free Trial: Get full access to this and all Fintech industry research reports. Historically, the US banking industry has discussed financial inclusion solely in terms of corporate social responsibility (CSR). Offering services to the underserved — unbanked consumers who lack access to banking products, and underbanked consumers who make only limited use of mainstream financial services — has long been economically unviable. But two forces have flipped the conversation from CSR to a genuine business opportunity. Banking Status Of US Households

First, digital tools from mobile banking to AI are driving down costs and allowing financial institutions (FIs) to offer previously untenable products, such as fee-free accounts or credit scoring based on unconventional data.

Second, the US' financial landscape is more competitive than ever, as fintechs, incumbents, and even tech companies like Amazon vie for larger shares of the overall space. That's creating a compelling reason for banks to seek out fresh growth opportunities, and the financially underserved represent just that. And with close to 33 million US households either unbanked or underbanked, the opportunity for fast-moving banks is huge.

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Postmates has quietly revived its plans to go public amid a surge of food delivery deals during the pandemic

postmates logo advertisement Smith Collection/Gado/Getty

Food delivery company Postmates has quietly revived plans for an initial public offering, people familiar with the matter told Reuters on Monday.
Postmates confidentially filed its IPO plans with the SEC in February 2019, but didn't proceed with a stock market debut at that point.
But recent deals in the industry, including Grubhub's planned merger with European delivery giant Just Eat Takeaway, convinced Postmates to move ahead with a public offering.
The sources said Postmates could make its IPO registration public as early as July.
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Postmates has revived plans for an initial public offering following a string of dealmaking in the US online food delivery service sector, people familiar with the matter said on Monday.

Postmates registered its IPO confidentially with the US Securities and Exchange Commission in February 2019, but did not proceed with a stock market debut. Just Eat Takeaway.com's $7.3 billion deal to acquire Grubhub earlier this month, as well as recent fundraisings by peers, convinced it that the time had come to press ahead, the sources said.

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A study reports the discovery of a new strain of influenza in pigs in Chinese slaughterhouses.
The new strain is a combination of a bird flu and the virus that caused the 2009 swine flu pandemic — which gives it "pandemic potential" in humans, the researchers wrote.
This flu hasn't been seen in humans yet, but the researchers believe such a jump is possible.
Pigs can be reservoirs for new flu strains.
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A nearly decade-long study of Chinese pigs has found a potentially dangerous new type of influenza virus.

The research, published today in the journal Proceedings of the National Academy of Sciences, describes a flu strain that shares genes with the one that caused the 2009 swine flu pandemic.

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NOW WATCH: 6 times Trump contradicted public officials about the coronavirus pandemic

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