washingtonpost--2020-02-28--Germany Tightens Border Checks in Bid to Curb Coronavirus Spread

Germany moved to tighten controls as the number of confirmed coronavirus cases in the country neared 90 individuals , with the total in Europe almost topping 1,000 .
Infections in Italy , the regional epicenter of the outbreak , soared to 821 late on Friday , from 650 a day earlier .
Italy ’ s government also held a crisis meeting late into the evening .
The new German rules already forced the cancellation of the ITB tourism trade fair , set to bring 160,000 visitors to Berlin next week .
Earlier in the day , a Swiss ban on @ @ @ @ @ @ @ 1,000 people resulted in the axing of the Geneva Motor Show , also set for next week .
The wireless industry already scrapped the Mobile World Congress in Barcelona .
ITB organizers “ have never before experienced a comparable situation , ” said Wolf-Dieter Wolf , chairman of Berlin ’ s convention center .
The government asked everyone attending the tourism fair to prove that they hadn ’ t had contact with a person from a coronavirus risk area , an impossible hurdle to clear , organizers said .
The number of confirmed @ @ @ @ @ @ @ , near the Dutch border , rose to 35 .
Authorities there asked people who came into contact with a married couple with the disease to stay at home .
The pair had attended a Carnival event in mid-February with about 400 people , and the isolation affects them and their family and friends , some 1,000 people in all .
Heinsberg authorities rejected the idea of a blanket quarantine , however .
“ We will need to find a pragmatic way not to cripple our health system , ” district administrator Stefan @ @ @ @ @ @ @ .
“ I would have to send half of my crisis team home.
” UniCredit SpA said one of its Milan-based employees tested positive for the virus after being in self-quarantine since Feb. 21 .
The bank decided to close the floor where the employee was working .
Some soccer games in the country will be played in front of empty stadiums , including the face-off on Sunday between title contenders Juventus and Inter Milan .
Italy on Friday approved measures to help areas most affected by the virus .
The government plans @ @ @ @ @ @ @ to assist companies and families in the areas most affected by the outbreak .
Small- and medium-sized businesses in affected areas will also have preferential access to a state relief fund .
In Spain , the number of people with the disease rose to 34 .
The Netherlands confirmed its first cases , after two contracted the virus on a recent visit to Italy ’ s Lombardy region .
Globally , there are over 83,000 cases .
The fallout from the spread risks compounding a broader industrial slump .
Deutsche Lufthansa AG announced @ @ @ @ @ @ @ % of its short-haul flights in the coming weeks , while BASF SE warned of a possible second annual profit drop .
Germany ’ s benchmark DAX Index lost 3.9 % on Friday .
Growth in Europe ’ s largest economy will almost certainly be weighed down by the disease , even though the effects of the epidemic don ’ t yet warrant a monetary-policy response , Bundesbank President Jens Weidmann said , adding that growth could be “ somewhat lower ” than the 0.6 % growth rate predicted in December .
Germany @ @ @ @ @ @ @ to protect its key export sector .
The government ’ s plans would seek to improve conditions for doing business , including reducing the tax burden on companies and boosting tax relief for digital investment .
German Finance Minister Olaf Scholz will discuss possible measures with leaders of the coalition parties next week .
In France , which has 38 cases , the disease ’ s arrival in Europe is forcing the government to reevaluate the impact .
The country estimated the outbreak in China would shave 0.1 percentage points off economic growth @ @ @ @ @ @ @ now be higher , Finance Minister Bruno Le Maire said in Paris .
He plans to speak with European peers and officials at international organizations early next week to update forecasts .
Despite the uncertainty , he urged investors to be wary of some “ fantastical ” figures circulating in financial markets .


washingtonpost--2020-03-02--Analysis | Coronavirus Accounting Is Looking Vulnerable

In Italy , the government is starting to wonder how much of the country ’ s case increase is due to potentially over-zealous testing .
Italy has tested more than 10,000 people so far , including people with no actual symptoms .
That ’ s about 10 times more than in neighboring France , where the criteria for testing cases is much stricter .
Italy is also officially reporting data from local regions before full confirmation from central authorities .
This all looks too hasty , and even harmful with “ too much testing , ” according to Walter Ricciardi @ @ @ @ @ @ @ adviser to the Italian government .
Carriers of Covid-19 who are asymptomatic might recover on their own — and Rome no longer wants them on the books .
From now on tests will only be conducted on people with symptoms , in a bid to contain what the government calls a media “ infodemic ” that ’ s hurting Italy.It may seem odd to want to test less — the more we know about a disease , the better — but the Italians have a point .
Testing resources are by definition scarce @ @ @ @ @ @ @ sense to try to separate genuine “ super-spreaders ” from “ super-worriers ” who clog up waiting-rooms .
Clearly , when dealing with a disease that has a stealthy incubation period around two weeks , being asymptomatic is no guarantee against infection .
Still , the WHO in February advised that people with symptoms “ spread the virus more readily through coughing and sneezing ” than those with none.The challenge when politicians start to intervene in data collection of this kind is keeping public trust intact .
If Italy ’ s rate of @ @ @ @ @ @ @ that be seen as a result of epidemiology , or new methodology ?
In France , where there ’ s a strict lid on testing , people with symptoms who aren ’ t eligible for tests ( because they haven ’ t traveled to places like China ) are openly questioning whether the restrictions are designed to keep case numbers down .
The Louvre Museum ’ s closure this weekend happened on the demands of its employees , not its management .
Clear communication is vital.This is made harder when testing methods change @ @ @ @ @ @ @ China .
The chart below shows the daily change in COVID-19 cases reported by Hubei province , widely acknowledged as the original epicenter of the outbreak .
The declining rate of cases is part of what the WHO has described as post-peak virus behavior , suggesting the worst is over after tough quarantine measures .
But it also coincides with a change in national state guidelines on Feb. 20 asking for a simplified case count .

Why did this happen?
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washingtonpost--2020-03-02--Analysis | What’s a ‘Term Premium,’ and Where Did Mine Go?

It ’ s the difference between what you get for locking up your money for an extended period and what you would get if you simply kept rolling over short-term instruments for the same amount of time .
By one Fed model , the term premium that 10-year Treasury bonds offer has averaged about 1.56 percentage points since 1961 .
Many investors and analysts use the term premium on a Treasury note to help decide if it ’ s worth buying .
The longer you lend money to someone ( or , in this case , a government ) , @ @ @ @ @ @ @ to go wrong .
Former Fed boss Ben S. Bernanke says that in his analysis the term premium reflects the buffer that investors need to account for two key risks .
One is changes in demand for or the supply of bonds , which can affect prices .
The other is inflation , which would reduce the real value of future bond payments .
When investors feel more uncertain on either point , they demand a higher premium .
Yield curves are a way of measuring the difference between what someone gets for @ @ @ @ @ @ @ , say for two years versus 10 years .
That gap includes the term premium along with other variables including a premium for liquidity that reflects how hard or easy it is to trade the securities .
Instead of longer-term debt providing extra yield for additional risk , there ’ s a discount .
And it ’ s been that way for most of the time since late 2014 , with the figure falling to an all-time low of minus 126 basis points in 2019 , and falling close to those levels this @ @ @ @ @ @ @ much to do with demand for Treasuries in a flight-to-safety amid the U.S.-China trade dispute .
In 2020 , there ’ s been an even bigger scramble for the security of Treasuries given fear of a global downturn in wake of the spread of the deadly coronavirus .
Fundamentally , you can also mostly give blame to the Fed , and the intervention it has done in the past with bond markets known as quantitative easing , or QE .
The U.S. central bank cut its key interest rate to near zero after @ @ @ @ @ @ @ economy failed to revive , it began massive bond purchases with the goal of reducing longer-term rates .
It also swapped short-term debt it held for longer-term debt , in what became known as Operation Twist .
By one Fed estimate , the moves cut the term premium by 100 basis points on 10-year Treasury yield .
And after spending some time shaving down its debt holdings a bit , the Fed last year began purchasing Treasury bills .
These purchases aren ’ t a new round of QE , but were undertaken @ @ @ @ @ @ @ 2019 , roiling the money markets .
The buying is lifting the size of its balance sheet -- but not by enough to offset the other forces bolstering appetite for Treasuries .
It doesn ’ t seem likely , at least at this time .
Wall Street strategists project that the term premium will eventually rise , but not likely back to historical average .
For now , there ’ s no end in sight to unabated demand for U.S. government debt .
And Fed officials have made clear they plan overall to @ @ @ @ @ @ @ did in the past .
The U.S. central bank has about $ 4.2 trillion in assets , well above the roughly $ 900 billion it held before the financial crisis .
And similar swaths of past debt buying , part of their extraordinary monetary policies , in Japan and Europe will keep foreigners coming back for U.S. debt .


washingtonpost--2020-03-02--Analysis | The U.S. Is Uniquely Hamstrung on Virus Response

The administration is starting to do some of the right things .
It ’ s working to boost testing capacity , and that will help health workers get a handle on the spread of the disease and aid in containment ; health officials are also now looking for cases entering the country from outside of China .
These steps came far too slowly , however , leading to missed opportunities to catch and prevent infections .
Because of the peculiarities of the American health-care system , the U.S. can ’ t only seek to replicate measures that have worked in @ @ @ @ @ @ @ to have the best possible chance at containing the Covid-19 virus .
There is a long list of other actions worth taking within days rather than weeks .
In areas where there appears to be community spread , it ’ s time to consider school closures , event cancellations , and to encourage people who can telecommute to do so .
Considering that the virus may have been working its way through Washington state for as long as six weeks , it ’ s worth preparing for the possibility of broader quarantines as @ @ @ @ @ @ @ disruptive steps , and as my colleague Faye Flam notes , they ’ ll be especially tricky to institute in the U.S.
It ’ s worth the disruption and potential pushback to prevent overloading hospitals and putting older adults at risk of severe disease .
Such public health measures only succeed if people do what they ’ re supposed to and self-quarantine when ill or seek treatment if they have severe symptoms ; unfortunately , the U.S. health-care system has put barriers in the way of doing the smart thing .
Millions of @ @ @ @ @ @ @ many more face high deductibles and other out-of-pocket health costs .
If a Covid-19 test costs thousands , many will avoid getting them .
Meanwhile , an inpatient stay at a hospital is dramatically more expensive , which means people may put themselves in danger by delaying treatment .
On top of that , America is also one of the worst developed countries in the world at making sure employers guarantee paid sick leave .
Weak employee protections have spent years conditioning people to avoid care and go to work even if they @ @ @ @ @ @ @ do ?
For one , it can potentially designate some Covid-19 treatment and tests as preventative services that will be free for people with coverage because of protections granted by the Affordable Care Act .
It can also direct emergency funds toward making sure that costs don ’ t dissuade people from seeking help and that they aren ’ t bankrupted for doing so .
The government also should encourage firms that don ’ t provide compensated time off to make an exception for this virus ; helping to pay for that leave @ @ @ @ @ @ @ .
The alternative is that sick people may end up preparing your food .
All of these measures have to be instituted rapidly and widely publicized if they ’ re going to have any impact .
Alongside these shorter-term efforts , investment in longer-run projects should be increased .
The priority needs to be scaling lab diagnostics to the point where anyone with symptoms can get tested .
The development of a more rapid point-of-care test that doesn ’ t need to head to an overtaxed lab will aid containment efforts .
It @ @ @ @ @ @ @ development of possible treatments .
These steps will be difficult and may contribute to further economic disruption .
They ’ re worth it to avert the human and financial costs of uncontrolled spread of this virus .


washingtonpost--2020-03-02--Analysis | Understanding How China’s HNA Group Rose and Fell

Founded in 1993 as a regional airline operator , with George Soros as an early investor , HNA created 410,000 jobs worldwide and built up assets of about $ 180 billion , according to the company .
Guo Wengui , a wealthy Chinese businessman who now lives in exile , has alleged that HNA has secret financial ties to top Communist Party officials .
HNA denied Guo ’ s claims .
HNA was perhaps the most prominent of the Chinese acquirers that went from near obscurity to making a splash in the past decade .
The once little-known airline operator @ @ @ @ @ @ @ Holdings Inc. and Deutsche Bank AG as well as paying large sums for high-end properties from Manhattan to Hong Kong .
Among China ’ s big spenders , HNA stood out as the most aggressive as it threw tens of billions of dollars into everything from golf courses to luxury homes .
HNA disclosed in 2017 that it was controlled by two company-connected charities named Cihang that together owned 52 % , and that 12 company officials , including founders Chen Feng and Wang Jian , the company ’ s number two who @ @ @ @ @ @ @ 47.5 % .
The officials have pledged to give their shares to the charities upon death or retirement , according to HNA .
Prior to that , a little-known investor named Guan Jun had been HNA ’ s biggest shareholder , with a 29 % stake , according to corporate filings .
When HNA reorganized in early 2017 , Guan distributed most of his holdings to five individuals , who then donated the shares to HNA ’ s Cihang foundation .
The group went too far , too fast -- but it was @ @ @ @ @ @ @ didn ’ t generate enough profit to cover its interest payments and its short-term debt soared to more than 192.6 billion yuan ( $ 28 billion ) in 2017 .
In 2018 , there were missed payments to banks and shares of several HNA units were suspended .
It has cut its stake in Deutsche Bank and sold its shareholding in two Hilton spinoffs , as well as its stake in Hilton .
Then last November , a renewed focus at HNA on aviation proved to be ill-timed .
The group said it @ @ @ @ @ @ @ aviation leasing and airports , with the rest being lumped under its “ non-aviation asset management ” unit .
Two months later , concerns about the spread of the coronavirus started to hammer any company tied to the travel industry .
Globally , about 80 % of China flights have been halted .
Some kind of asset-stripping process is likely .
People familiar with the matter have said state authorities will now go through HNA ’ s books to figure out how to sell off businesses and pay off debt .
While HNA @ @ @ @ @ @ @ taken over , the government is certainly tightening its grip .
Even before authorities installed fresh leadership at HNA , Bloomberg reported in February that China was close to taking control and might sell off some airline units .


washingtonpost--2020-05-06--U.S. Cases Rise 1.9% Again, Below Week’s Average: Virus Update

“ We will want , if we possibly can , to get going with some of these measures on Monday @ @ @ @ @ .
He said he will set out the next phase of the coronavirus strategy in @ @ @ @ @ because it would be a “ good thing ” if people knew what to expect @ @ @ @ @ operation the next day .


washingtonpost--2020-04-22--Counting the Biggest Winners of the $7.2 Billion U.S. Coronavirus Battle

Amsterdam-based Royal Philips NV has so far been the top corporate recipient with some $ 661.4 million in agreements .
The vast majority of that sum came on April 8 via a $ 646.7 million contract to procure ventilators from the health technology giant ’ s Philips Electronics North America unit .
Health and Human Services last week awarded seven contracts worth a combined $ 1.4 billion to secure thousands of ventilators , which are needed to treat the most severe cases .
Among the awards were a $ 350 million pact with a U.S. affiliate of Asahi Kasei Corp. @ @ @ @ @ @ @ Hamilton Medical Inc. and a $ 408 million purchase from Vyaire Holding Co. Each of those companies have other , smaller virus-related contracts , lifting the total value of their government work .
The search for a vaccine to counter the disease spurred other large awards , in addition to Moderna ’ s .
In late March , Johnson & Johnson Inc. ’ s Janssen Pharmaceuticals unit signed a $ 456.2 million deal for Covid-19 vaccine development , plus a $ 148.4 million award for anti-viral therapies .
Shares of the parent company @ @ @ @ @ @ @ to the broader S & P 500 Index ’ s 15 % decline .
3M Co. and Honeywell International Inc. each won multiple contracts totaling more than $ 180 million apiece , mostly to replenish scant supplies of N95 respirator masks .
Other mask-procurement deals include a $ 55.5 million award to Panthera Worldwide LLC and contracts totaling nearly $ 46 million with Draegerwerk AG & Co. for masks and other medical gear .
The Department of Defense on Tuesday detailed contracts totaling $ 133 million for 39 million N95 masks made by @ @ @ @ @ @ @ Owens & Minor Inc. over the next 90 days .
Those contracts are not reflected in the Bloomberg Government contracting data due to reporting delays .
Separately , Canada ’ s AirBoss of America Corp. was awarded a contract for more than $ 96 million to supply the Federal Emergency Management Agency with 100,000 powered air purifying respirator systems .
The order is the company ’ s largest ever and exceeds its average quarterly revenue for the last four quarters .
Services are another major category of federal coronavirus contracts .
RER Financial @ @ @ @ @ @ @ 350 million to provide data analysis and loan recommendation services to the U.S. Small Business Administration .
FEMA meanwhile awarded more than $ 100 million each to Aecom and ACS , Actividades de Construccion y Servicios SA , to erect temporary hospital facilities in Long Island , New York .
Shares of Moderna rose sharply after the U.S. Department of Health and Human Services agreed to pay as more than $ 400 million for the company to develop and test its Covid-19 vaccine now in an initial clinical trial .
For more articles @ @ @ @ @ @ @ bloomberg.com


washingtonpost--2020-01-09--Analysis | How China’s Mystery Pneumonia Illness is Different From SARS

The outbreak in Wuhan , a city of 11 million , appears severe .
Dozens of people have been hospitalized since the first patient developed symptoms Dec. 12 .
A handful were in serious condition .
On the other hand , at least eight patients have been discharged and no fatalities had been reported as of Jan. 9 .
There also haven ’ t been any cases of health-care workers becoming infected , which supports early findings that the disease probably isn ’ t being transmitted from person to person .
That reduces the potential of it spawning an outbreak @ @ @ @ @ @ @ and swept across the globe , infecting thousands of people .
Mainly fever , with some patients having difficulty breathing , and chest X-rays showing invasive lesions of both lungs , the World Health Organization said .
However , only cases requiring hospitalization have been reported so far .
It ’ s possible other people have been infected and experienced no , or only mild , symptoms .
Chinese authorities preliminarily identified a novel ( not seen before ) coronavirus in one of the pneumonia patients hospitalized in Wuhan after conducting gene sequencing @ @ @ @ @ @ @ Television said further research is needed , but early findings show it is different from the SARS coronavirus .
While it can cause severe illness in some patients , it doesn ’ t transmit readily between people , the WHO quoted the Chinese authorities as saying .
Chinese investigators had previously checked for known respiratory infections and ruled out pathogens that cause flu , avian influenza , SARS and a related virus known as Middle East Respiratory Syndrome coronavirus , or MERS-CoV .
There ’ s a large family of them , with @ @ @ @ @ @ @ .
Some transmit easily from person to person , while others do not .
There ’ s growing recognition of the role of coronaviruses in cases of severe pneumonia .
The WHO noted that new ones emerge periodically in different areas globally , and several known coronaviruses are circulating in animals that haven ’ t infected humans .
It can vary .
HIV , for example , wasn ’ t discovered as the cause of AIDS for years .
In the case of SARS , many of China ’ s top doctors were @ @ @ @ @ @ @ caused by chlamydia , a sexually transmissible bacterium .
China sacked its then health minister , Zhang Wenkang , for mishandling that crisis .
Wuhan houses China ’ s first maximum bio-containment laboratory , built in 2015 to investigate the planet ’ s most dangerous pathogens , so it ’ s well placed for the current outbreak .
Scientists there have probably been screening a number of possible culprits .
There ’ s no indication patient specimens have been shared with labs outside the province of Hubei , let alone other countries , @ @ @ @ @ @ @ .
Authorities in Wuhan say they are providing the best-possible medical care .
Patients have been isolated to prevent any potential spread .
Health officials are also looking for , screening and monitoring people the patients had contact with , and searching for current and past cases that may have been treated in medical institutions throughout the city .
Authorities have closed the market , where environmental samples have been taken for analysis .
It ’ s still early , but so far , it appears not .
Authorities in Hong Kong , @ @ @ @ @ @ @ .
Hong Kong ’ s Centre for Health Protection said it picked up 16 sick people who had recently traveled to Wuhan as of Jan. 6 but found no discernible link between these cases and the pneumonia cluster .
( Most just had the flu . )
A 3-year-old girl hospitalized in Singapore with pneumonia also turned out to be unrelated .
The WHO has said it ’ s monitoring the situation and is standing by to respond if needed , but hasn ’ t recommended any special precautions for travelers .
There @ @ @ @ @ @ @ .
Both emerged in China .
In the case of SARS , it ’ s thought to have spread indirectly from a “ wildlife reservoir , ” believed to be bats , to humans via masked palm civets and other species in live-animal markets .
The Wuhan outbreak has also been linked to a live-animal market , making it possible the infectious agent has an animal origin .
Diseases transmissible from animals to humans , sometimes referred to as “ zoonoses , ” comprise a large percentage of all newly identified infectious diseases @


washingtonpost--2020-04-30--Analysis | Drugs Authorized for Covid-19? Why There’s Skepticism

Called remdesivir , it ’ s an experimental antiviral drug made by Gilead Sciences Inc. originally as a treatment for Ebola .
In an international trial of more than 1,000 patients conducted by the U.S. National Institute of Allergy and Infectious Diseases , those who received remdesivir recovered in an average of 11 days , while those who got a placebo recovered in 15 days .
The same day , data were published confirming downbeat results from a Chinese trial of the drug , but that study had been halted early after researchers struggled to enroll patients .
Regulators at @ @ @ @ @ @ @ they were in talks with Gilead to make the medicine available quickly .
The availability of a treatment could speed the reopening of economies .
The FDA in March controversially issued an Emergency Use Authorization providing for two malaria drugs , chloroquine and hydroxychloroquine , to be distributed and prescribed by doctors to Covid-19 patients .
The move came after President Donald Trump repeatedly touted the drugs .
Such authorizations are permitted during a crisis when a product ’ s “ known and potential benefits ” outweigh its “ known and potential risks.
@ @ @ @ @ @ @ the free distribution of hydroxychloroquine , which hadn ’ t been registered for use in the country previously , for treatment of coronavirus .
The FDA ’ s decision and Trump ’ s championing of the drugs have been criticized by scientists as premature .
In a small study in France , hydroxychloroquine showed promising results , but the trial ’ s methodology has been challenged , and in another small trial in China , the drug was no more effective than conventional care .
And it carries significant side effects .
In @ @ @ @ @ @ @ heart incidents linked to treating coronavirus patients with hydroxychloroquine .
Plus panic-buying of hydroxychloroquine has created shortages of the drug for patients with malaria and the autoimmune disease lupus , for whom it is a proven therapy .
Larger trials of chloroquine and hydroxychloroquine are underway .
Even if a treatment shows promise in laboratory , animal or early human experiments , rigorous testing is needed to prove that it ’ s both safe and effective .
That requires carefully structured and monitored tests known as clinical trials .
Typically , these studies @ @ @ @ @ @ @ assigned to get the drug do better than those in a “ control group ” who don ’ t , and that the results aren ’ t a product of chance .
The trials try to subtract all the other influences and factors that might disguise the true effectiveness of the drug .
For one thing , patients often recover from viral illness on their own , or improve because of supportive care such as rest and hydration .
And some really sick patients might not respond to treatment no matter how effective @ @ @ @ @ @ @ t have approval from regulators should be viewed with extreme caution .
The FDA and the U.S. Federal Trade Commission have warned multiple companies to stop selling unproven treatments for coronavirus .
It depends .
Drugs that are already approved against one infection and shown to be safe can be tested for effectiveness against another in a matter of months .
Experimental drugs may take longer to test , as they have to go through initial studies to evaluate whether they are safe .
Other factors that can slow the process include the @ @ @ @ @ @ @ of patients to test them in .
The trials also have to be approved by ethics watchdogs and drug regulators .
According to a 2017 review , the median time for regulators to approve a new drug in 2015 was 333 days in the U.S. , 422 days in Europe , and 639 days in China .
China has since expedited its process .
When drugs are deemed to fill an immediate need , regulators can speed them through the approval process using a number of paths .
More than 100 different programs @ @ @ @ @ @ @ treatments .
These include everything from antiviral drugs and antibody-containing plasma from recovered patients , to traditional Chinese herbal medicine .
In a study in China published March 18 , AbbVie Inc. ’ s Kaletra , an HIV treatment combining two drugs , failed to improve the condition of coronavirus patients .
Another small , preliminary trial of the flu medication favipiravir , or Avigan , made by Fujifilm Holdings Corp. produced more promising results .
More than 70 experimental vaccines against the coronavirus are in some stage of development , according to @ @ @ @ @ @ @ record speed , researchers began preliminary human testing of the first one in mid-March in the Seattle area .
It was developed by the U.S. National Institute of Allergy and Infectious Diseases in collaboration with the biotechnology company Moderna Inc .
Since then , a handful of additional human trials have begun of vaccine candidates , including from CanSino Biologics Inc. and the Beijing Institute of Biotechnology and from Inovio Pharmaceuticals Inc .
Some of the world ’ s biggest companies are working on vaccine projects .
GlaxoSmithKline has teamed up with China-based @ @ @ @ @ @ @ & Johnson are in separate collaborations with the U.S. government ’ s Biomedical Advanced Research and Development Authority .
Widespread testing of experimental vaccines is important to reduce the possibility that they cause harm after being rolled out , as has been the case a number of times in the past .
Documented reports of unexpected side effects from new vaccines are different from the persistent and incorrect belief that vaccines against childhood diseases carry significant risks .
Anthony Fauci , director of the U.S. National Institute of Allergy and Infectious Diseases , @ @ @ @ @ @ @ year and a half to complete trials of experimental coronavirus vaccines , scale up production and make a licensed product widely available .
A team at the University of Oxford has set an ambitious aim of producing efficacy results for its vaccine candidate in September and aims to shorten the path to delivering the initial doses of a proven product by beginning manufacturing now .
There ’ s no guarantee trials will yield a successful vaccine , however .
The experimental products moving most rapidly are made using new technologies that have never @ @ @ @ @ @ @ nearly 800 people in a 2002-2003 outbreak , and there still isn ’ t an approved vaccine .
In a project that could deliver a vaccine sooner , researchers in four countries will test a shot that ’ s already licensed to prevent tuberculosis to see if it will protect health workers against the coronavirus .


washingtonpost--2020-04-30--Analysis | Elon Musk and Tesla Bulls Are So Over This Covid-19 Panic

Yet , on the back of this , Tesla ’ s market cap rose by another $ 21 billion in aftermarket trading .
Indeed , since another surprise profit in October kicked off a surge in Tesla ’ s market cap , it has risen by more than $ 115 billion .
Sum total of earnings reported in that time : $ 264 million .
Credits sold : $ 621 million .
I would say “ you do the math , ” but let ’ s face it , who does ?
For many companies , this earnings season is @ @ @ @ @ @ @ , excusable .
Yet it ’ s worth remembering the worst of it hit the U.S. in April .
Tesla didn ’ t even suspend operations at its main plant in Fremont , California , until the last week of the month ( and even then , only after some back-and-forth with local officials ) .
Tesla ’ s announcement Wednesday evening should be read in this context .
Liquidity is all in the middle of this pandemic , and Tesla noted up top its cash balance increased by $ 1.8 billion to @ @ @ @ @ @ @ , however , Tesla raised $ 2.3 billion by selling new shares in February .
Actual free cash flow for the quarter , as in cash from operations less capital expenditure , was negative $ 895 million .
In other words , Tesla burned through almost 40 % of the cash it raised .
Similar to last year , Tesla also kicked off 2020 by under-spending relative to capex guidance provided two months ago .
Had it met even the low end of that range , then cash burn would have been closer @ @ @ @ @ @ @ might be Covid-19 had already begun to affect spending decisions last quarter .
But Tesla noted Wednesday it continues to invest “ significantly ” in its products and aims to grow capacity quickly .
Another counter-argument is that Tesla suffered a build-up in inventory of almost $ 1 billion .
This makes more sense given disruption was spreading across the world in March .
However , it also points to the pressures building this quarter .
If Covid-19 suddenly went away and activity returned to normal , then that inventory pile-up would unwind @ @ @ @ @ @ @ happen .
While Tesla ’ s new factory in Shanghai is getting up to speed , lock-downs mean it will likely be several more weeks at least before the more important U.S. plants are back up and running .
I don ’ t think it ’ s an accident that CEO Elon Musk , who in early March dismissed the coronavirus panic as “ dumb , ” took to Twitter again on Tuesday evening to demand that ( Someone ?
The cosmos ?
Bots ? )
“ FREE AMERICA NOW.
” On Wednesday @ @ @ @ @ @ @ lock-downs as — limber up your eyeballs for a good old roll now — “ fascist.
” Meanwhile , the backdrop remains a deep recession hitting vehicle sales worldwide .
Tesla held off revising full-year vehicle sales guidance .
But since it implies a jump of more than one-third , year over year , through the rest of 2020 , it can safely be ignored .
The company ’ s statement about managing costs and working capital carefully is more relevant .
The combination of the past quarter ’ s cash burn , @ @ @ @ @ @ @ burn , and the murky outlook means the odds we could see another equity raise this year are rising .
All the familiar narrative elements — China , Model Y , new factories , self-driving and even the elusive Semi truck — were on display Wednesday .
And , given the stock price , investors appear ready for it .
Dilution seems of no concern .
Indeed , even if the stock stayed flat at Wednesday ’ s close , then Musk would be in line to get the first tranche , worth @ @ @ @ @ @ @ his gigantic stock-award program set up in 2018 .
This is dependent on Tesla hitting various metrics , including averaging at least $ 100 billion of market cap over 30 days and six months .
If someone was paying $ 900 for Tesla ’ s stock in February and , despite everything in between , almost $ 900 on Wednesday evening , then they aren ’ t just looking beyond Covid-19 .
Their time horizon may stretch beyond whenever the next pandemic turns up .
Who needs earnings ?
Liam Denning is a @ @ @ @ @ @ @ and commodities .
He previously was editor of the Wall Street Journal ’ s Heard on the Street column and wrote for the Financial Times ’ Lex column .
He was also an investment banker .


washingtonpost--2020-04-24--Deaths in U.S. Top 50,000; Europe’s Toll Slows: Virus Update

Spain and Italy had their fewest deaths in five weeks , and new cases in Singapore dropped below 1,000 for the first time in five days .
Russia reported the most new cases since April 19 , and Germany had its worst day in almost a week .
Dyson Ltd. had spent 20 million pounds ( $ 25 million ) on the project and won ’ t be seeking any government money to pay for it , the founder said in a statement .
The company didn ’ t explain why the order , which it said last month was @ @ @ @ @ @ @ called the CoVent , was canceled .
Speaking at a press conference Friday afternoon in Tallahassee , DeSantis declined to say when he expected to move into the next phase of reopening .
His Re-Open Florida Task Force just finished a week of meetings on how the state should proceed .
DeSantis also described his efforts to acquire serological tests that indicate whether people have Covid-19 antibodies .
He said he expects 200,000 tests as soon as Friday ; hundreds of thousands more are on order .
Belgium will start relaxing the lockdown @ @ @ @ @ @ @ now in their sixth week , with a plan to progressively reopen businesses in the first half of May as Prime Minister Sophie Wilmes warned the timing will be fully dependent on the strength of the epidemic .
Companies with business-to-business operations and industrial activities reopen May 4 , to be followed a week later by retailers and all companies with a business-to-consumer focus , except those that can ’ t possibly avoid physical contact such as hairdressers .
Schools will progressively open for students ages 6 to 18 from May 18 , @ @ @ @ @ @ @ will be mandatory age 12 and up , as well as in public transportation starting May 4 .
Bars and restaurants will have to remain closed until at least June 8 , and leisurely cross-border travel will stay banned before that date .
Belgium ’ s health system has been able to keep more than 4 out of 10 intensive care unit beds vacant at the peak of the outbreak more than two weeks ago .
The death toll in the country of 11.4 million stands at 6,679 , with more than half @ @ @ @ @ @ @ restrictions on social contacts have a crippling effect , with a third of the Belgian economy at a standstill .
Many small business owners were shut out from financial aid after the Paycheck Protection Program , launched April 3 with an initial $ 349 billion , was depleted in less than two weeks .
Congress passed a relief bill that President Donald Trump signed Friday with more funding for the program and a separate disaster loan and grant initiative whose funding also expired last week .
The initial program launch was rocky , @ @ @ @ @ @ @ wasn ’ t issued until the night before and some large banks didn ’ t participate initially or only took applications from customers with existing loan accounts .
The SBA ’ s processing system was inaccessible at times because of the volume of applications .
U.S. cases rose 3.5 % from the day before to 886,213 , according to data compiled by Johns Hopkins University and Bloomberg News .
That was higher than Thursday ’ s growth rate of 2.5 % but below the average daily increase of 3.8 % of the past @ @ @ @ @ @ @ 24 hours rose 7.4 % to 50,780 .
Spain , which has the most cases in Europe and remains on an almost-total lockdown , reported 367 new deaths on Friday , the least since March 21 , though confirmed cases rose by the most in almost three weeks .
Italy ’ s daily death toll was the lowest since March 17 and France ’ s declined to the lowest in almost four weeks .


washingtonpost--2020-01-15--Analysis | How China’s Mystery Pneumonia Illness is Different From SARS

The outbreak in Wuhan , a city of 11 million , appears severe .
Dozens of people have been hospitalized -- a handful in serious condition -- since the first patient developed symptoms Dec. 12 .
On the other hand , at least six patients were discharged and only one fatality was reported .
The death occurred Jan. 9 in a patient with serious underlying medical conditions .
There haven ’ t been any cases of health-care workers becoming infected , which supports early findings that the disease probably isn ’ t being transmitted from person to person .
That @ @ @ @ @ @ @ outbreak like SARS , which began in China and swept across the globe , infecting thousands of people .
Mainly fever , with some patients experiencing fatigue , a dry cough and difficulty breathing .
Chest X-rays have shown invasive lesions of both lungs , the World Health Organization said .
However , only cases requiring hospitalization have been reported so far .
It ’ s possible other people have been infected and experienced no , or only mild , symptoms .
Chinese authorities identified a novel ( not seen before ) coronavirus @ @ @ @ @ @ @ in Wuhan after conducting gene sequencing , the WHO said .
Doctors subsequently confirmed 41 people had been infected with the virus , reducing the number of cases from 59 .
The WHO has labeled the new virus 2019-nCoV .
Genomic data was made publicly available in mid-January , enabling scientists outside China to study its genetic fingerprint for clues about where and how it might have emerged .
Andrew Rambaut , a professor of molecular evolution at the University of Edinburgh , said it is 89 % similar to a SARS-related bat @ @ @ @ @ @ @ necessarily mean it comes from bats .
Like the source of the virus , the way it spreads is also unknown .
The WHO quoted the Chinese authorities as saying it doesn ’ t transmit readily between people .
Investigators have focused on the wholesale seafood market in Wuhan , where most of the people infected either worked or shopped frequently .
The market has been closed since New Year ’ s Day and no additional cases have been detected in China since Jan. 3 .
A woman living in Wuhan traveled with @ @ @ @ @ @ @ 8 -- three days after experiencing fever , chills , sore throat and a headache .
Thai authorities hospitalized her on her arrival .
Lab studies confirmed she was infected with the 2019-nCoV virus , making her the first case outside China .
The traveler was a regular visitor to a fresh produce market in Wuhan , but hadn ’ t visited the one linked to most of the other cases .
That ’ s raised the possibility that the pathogen is lurking more widely in the city -- a worrying prospect ahead @ @ @ @ @ @ @ Jan. 25 this year ) , which spurs frenzied grocery shopping , including sometimes exotic foods .
There ’ s a large family of them , with some causing less-severe diseases , some more .
Some transmit easily from person to person , while others do not .
There ’ s growing recognition of the role of coronaviruses in cases of severe pneumonia .
The WHO says that new ones emerge periodically in different areas globally , and several known coronaviruses are circulating in animals that haven ’ t infected humans .
It @ @ @ @ @ @ @ , wasn ’ t discovered as the cause of AIDS for years .
In the case of SARS , many of China ’ s top doctors were initially adamant they were dealing with pneumonia caused by chlamydia , a sexually transmissible bacterium .
China fired its then health minister , Zhang Wenkang , for mishandling that crisis .
Wuhan houses China ’ s first maximum bio-containment laboratory , built in 2015 to investigate the planet ’ s most dangerous pathogens , so it ’ s well placed for the current outbreak .
Scientists @ @ @ @ @ @ @ of possible culprits .
In mid-January , specialists from outside mainland China were invited to Wuhan to share information .
Authorities in Wuhan say they are providing the best possible medical care .
Patients have been isolated to prevent any potential spread .
Health officials are also looking for , screening and monitoring people the patients had contact with , and searching for current and past cases that may have been treated in medical institutions throughout the city .
Environmental samples from the closed market have been taken for analysis .
Apart from @ @ @ @ @ @ @ not .
Authorities in many Asian cities increased precautions at airports , testing travelers from Wuhan who arrived with fever and other symptoms .
As of Jan. 15 , only authorities in Thailand have confirmed a case ; most of the others just had the flu .
The WHO has said it ’ s monitoring the situation and is standing by to respond if needed , but hasn ’ t recommended any special precautions for travelers .
There are some , albeit narrow , parallels .
Both emerged in China .
In the @ @ @ @ @ @ @ thought to have spread indirectly from a “ wildlife reservoir , ” believed to be bats , to humans via masked palm civets and other species in live-animal markets .
The Wuhan outbreak has also been linked to live-animal markets , making it possible the infectious agent has an animal origin .
Diseases transmissible from animals to humans , sometimes referred to as “ zoonoses , ” comprise a large percentage of all newly identified infectious diseases .


washingtonpost--2020-03-19--Analysis | What Happens to a Car Sector That Can’t Make Cars?

This time , though , the shutdowns are happening simultaneously and slumping demand isn ’ t the only problem carmakers face .
Workers are understandably fearful to step onto crowded production lines , plus the supply of key components risks being disrupted .
Manufacturers hope the production hiatus will be brief but that could prove to be wishful thinking because the virus is a long way from being under control .
( The fact that some have offered to re-purpose factory space to produce life-saving ventilators underscores the severity of this global health emergency ) .
Even without coronavirus , @ @ @ @ @ @ @ difficult year for the car industry due to the massive cost of developing electric vehicles and overhauling factories to build them .
Unlike a decade ago , when General Motors Co. and Chrysler sought bankruptcy protection , most carmakers have big cash piles they can draw on to tide them over a difficult period .
Even after a 26 billion euros ( $ 28 billion ) cash outflow due to its diesel cheating , Volkswagen AG has 24 billion euros of cash and equivalents at its disposal .
That ’ s fortunate , @ @ @ @ @ @ @ so-called negative working capital , much of the industry will burn through a lot of money .
( 1 ) ( Besides protecting employees from potential virus exposure , one positive about closing plants is limiting the cash burn from rising vehicle inventories ) .
In an extreme scenario Ford Motor Co and GM could each burn close to $ 4 billion of cash per month , say analysts at Morgan Stanley .
Meanwhile , if unemployment spikes , carmakers that lease lots vehicles via captive financial services divisions could be exposed to @ @ @ @ @ @ @ BMW AG had to take a 2 billion euros provision against loans going sour and falling values of used vehicles .
It ’ s no wonder then that carmaker stocks have halved in value since the start of the year and the cost of insuring their debt against default has rocketed .
Those with the weakest balance sheets have suffered most .
The market capitalization of Renault SA , which struggled to generate positive free cash even before the virus showed up , has shrunk to less than 5 billion euros ; adjusted @ @ @ @ @ @ @ in alliance partner Nissan Motor Co the equity value is negative .
Jaguar Land Rover , owned by Tata Motors , is looking particularly sickly : 650 million euros of senior unsecured debt due in 2024 has tumbled to 60 % of face value , yielding 17 % — signalling concerns credit investors might not get all their money back .
While the argument for consolidation is stronger than ever , so is the need to preserve cash .
It ’ s questionable whether it ’ s still appropriate for Fiat Chrysler Automobile @ @ @ @ @ @ @ billion euros dividend prior to consummating a merger with Peugeot SA .
Fiat ’ s balance sheet was already one of the weakest of the major car makers .
Unlike in some service industries , car sales should eventually pick up some of the slack .
Vehicles age and need replacing whereas a restaurant meal not consumed last week doesn ’ t necessarily mean you ’ ll have two the next .
Plenty of folks cooped up at home will be dreaming of taking a long road trip when this is all over @ @ @ @ @ @ @ cost of fuel .
But in the short term demand will probably fall hard – Chinese sales plunged 80 % in February when much of the country was on lockdown .
Consumer purchase incentives or government tax breaks probably won ’ t be as effective as in 2008-2009 because consumers can ’ t leave their homes .
A car industry that can ’ t build cars won ’ t sell them .
This year will see the paths of the better capitalized and financially weak firms diverge .
It may not be immediate @ @ @ @ @ @ @ whether from taxpayers or shareholders , will come .


washingtonpost--2020-03-19--Analysis | Want More Ventilators? Roll Back Trump’s Tariffs

While the U.S. canceled or partially rescinded tariffs on $ 300 billion of mostly consumer-facing products as part of a trade deal formally inked in January , 25 % levies still apply to the $ 250 billion of largely industrial Chinese imports that were first in the trade-war firing line .
Taxes also remain in place for foreign aluminum and steel .
Asked on Wednesday if the White House would look to roll back tariffs in light of the coronavirus outbreak , President Donald Trump rebuffed the idea , repeating his oft-stated and still wrong claim that China is the @ @ @ @ @ @ @ s not ; U.S. manufacturers are .
The tariffs were initially an inconvenience that kneecapped growth for industrial companies at a time when the general economy was doing well .
Nowadays , they are an unnecessary tax on manufacturers that in some cases are fighting for their survival and in others are trying to figure out how to do everything they can to help the country ’ s war against the coronavirus .
Trump this week invoked the Defense Production Act , a 1950s-era piece of legislation that gives the government more control @ @ @ @ @ @ @ used in this case to rapidly scale the country ’ s supply of key medical equipment and protective gear .
While Trump has indicated a reticence to aggressively use the powers the act confers , it should be looked at as a potential source of fiscal stimulus in addition to a battle plan .
Rather than handing aerospace manufacturers a blank check to make up for their idled factories , the government could give those companies a contract to make masks , ventilators , gloves or goggles .
This works best if the @ @ @ @ @ @ @ in other ways .
Already , the Trump administration has waived regulations to allow N95 respirators produced for industrial uses to be used by healthcare workers .
This increases availability by up to 75 % to 90 % , coronavirus response coordinator Deborah Birx said in a press conference on Thursday .
Similarly , Vice President Mike Pence said the government had identified tens of thousands of ventilators that could be converted to treat patients .
Another relatively easy — and most importantly , cheap — way to speed production and support the @ @ @ @ @ @ @ The Trump administration only recently granted tariff relief to makers of certain health-care products and protective gear that were previously denied exemptions .
It remains a half-measure , with tariffs still applying to other medical devices and components , according to the Wall Street Journal .
Separately , Chinese manufacturers are barred from fulfilling the federal government ’ s request for 500 million N95 respirator masks , according to the grant application , despite expectations that it will take 18 months for the order to be fully filled .
This protectionist attitude toward @ @ @ @ @ @ @ now .
We need all the help we can get .
But what of the tariffs on auto parts or the levies that still apply to steel and aluminum ?
General Motors Co. CEO Mary Barra offered to call back workers to the company ’ s idled plants to make ventilators , according to White House economic adviser Larry Kudlow .
Tesla Inc. CEO Elon Musk has also made noises on Twitter about a willingness to help .
Cash-strapped Ford Motor Co. isn ’ t offering to make ventilators yet , but it @ @ @ @ @ @ @ for recent buyers of new cars , even as it suspends its dividend .
This is admirable and the reward for the auto industry shouldn ’ t be a continuation of the economic obstacle course of tariffs .
Notably , carmakers aren ’ t even among those seeking bailouts this time around .
I wrote earlier about the need for companies to make some sacrifices if they want to participate in government bailouts , whether that ’ s chopping the dividend , curtailing executive pay or giving more protections and benefits to workers @ @ @ @ @ @ @ to have to make some sacrifices to its agenda , too , if it wants to see the country through this .


washingtonpost--2020-04-03--CDC Recommends Mask Use; U.S. Deaths Surpass 7,000: Virus Update

The move came as New York officials began to warn that the health system was possibly just days away from hitting its capacity to handle the waves of patients .
New Jersey , which has the second-highest rate of infections , is trying to get ahead of the curve and avoid the dire fate of its neighbor .
“ We don ’ t want to end up in a cycle of lockdown followed by release , followed by another lockdown followed by release , ” said Mike Ryan , head of health emergencies at the WHO .
Countries need to @ @ @ @ @ @ @ contact tracing because the only way to get rid of the disease truly is to hunt it down , he said .
Low testing rates in India , Indonesia and Pakistan risk leaving them unsure about the extent of coronavirus transmission in their countries .
All three nations -- which together hold about 25 % of the global population -- crossed 1,500 cases this week .
They have tested the lowest number of residents per million , according to official data for six nations in Asia compiled by Bloomberg .
European Union officials @ @ @ @ @ @ @ banking sector deal with the coronavirus pandemic are keeping their powder dry for now .
In a draft statement seen by Bloomberg , diplomats said they stand “ ready to take further actions ” to mitigate the impact of the virus , including “ possible additional non-legislative or legislative measures.
” For now , though , legal changes like softening the impact of new accounting rules don ’ t appear necessary , according to an official involved in the talks who asked not to be identified because the deliberations are private .
British @ @ @ @ @ @ @ high temperature and remains in isolation , one week after testing positive for coronavirus .
Johnson made the announcement in a video posted on Twitter on Friday , saying that even after 7 days , “ alas I still have one of the symptoms , a minor symptom : I still have a temperature .
In accordance with government advice I must continue my self-isolation .
”


washingtonpost--2020-04-02--Infections Reach Grim Mark; Hong Kong Bars Closed: Virus Update

The Trump administration is working on a proposal for the president to direct some of the funds targeted to hospitals to cover expenses for the uninsured .
The funds would go directly to the medical facilities , Pence said .
Officials expect to have an announcement on Friday .
The Small Business Administration has bumped up to 1 % the interest rate lenders may charge under a $ 350 billion U.S. relief program for small businesses affected by the virus .
The move came after lenders complained that the previous approved rate of 0.5 % was below even their own @ @ @ @ @ @ @ is likely to recommend that people living in areas hardest hit by the coronavirus cover their faces in public , according to a person familiar with the matter , as new research shows that the pathogen may hang in the air after people sneeze , cough or even talk .
The administration won ’ t urge Americans to buy commercial medical-grade masks , which are in short supply at hospitals .
Almost four out of five people who were positive for coronavirus in a day ’ s testing in China this week showed @ @ @ @ @ @ @ BMJ medical journal said .
Of 166 new infections detected , 130 , or 78 % , didn ’ t have symptoms , the journal reported Thursday , citing China ’ s National Health Commission .
Most of the 36 people who did have symptoms were linked to international travel .
In Ohio , Governor Mike DeWine extended his state ’ s stay-at-home order through May 1 .
The order was set to expire April 6 but is still needed with models showing the peak of the outbreak expected by mid-May , the @ @ @ @ @ @ @ to set , post , and enforce limits on number of customers inside at at any one time .
It ’ s hard to be precise because some laid-off workers will be able to get insurance via Obamacare exchanges or a family member who still has a job , or will qualify for government coverage under Medicaid , the EPI said .
On the other hand , the 3.5 million doesn ’ t include spouses or children of the newly unemployed who may now be without coverage .


washingtonpost--2020-02-19--Analysis | What You Need to Know About the Spreading Coronavirus

It has been described as “ insidious ” because a large portion of infected people are well enough to go about their daily business , potentially spreading it to others .
As of mid-February the apparent mortality rate was about 2 % , lower than the 9.5 % rate for SARS .
But such numbers are unreliable in the early stages of an outbreak .
Some disease modeling experts project as many as hundreds of thousands of people are actually infected , most of whom won ’ t even know they have it .
One study published Feb. 10 estimated @ @ @ @ @ @ @ all cases , including those with no or only mild symptoms , are counted .
A revision in the method of testing for the virus produced a jump in the number of detected cases around mid-February .
Infections appear to cause a mild illness in children , adolescents and younger adults in most cases , and potentially more severe disease in older people .
Frequently reported early signs are fever , dry cough and tiredness -- but not the sneezing and runny nose typical of a cold .
In severe cases , studies @ @ @ @ @ @ @ lower respiratory tract and migrates to the lungs , causing difficulty breathing and the inflammation and congestion associated with pneumonia .
In an early study , more than a quarter of hospitalized patients developed a complication known as acute respiratory distress syndrome .
Many of the fatalities have been in patients with underlying illnesses such as cardiovascular disease .
A Chinese study of 72,000 cases found the majority of deaths occurred in patients over 60 years old .
Of confirmed cases , 81 % were mild , 14 % were severe and 4.7 @ @ @ @ @ @ @ Covid-19 is genetically similar to the SARS virus but appears milder in terms of illness and case fatality rate .
Another related virus , known as MERS-CoV , that ’ s been spreading since 2012 has led to death in 34 % of the 2,499 cases recorded .
By contrast , an estimated 50 million people died in the 1918 influenza pandemic that had a case-fatality ratio of less than 5 % , but infected up to a third of the world ’ s population .
Most likely by coming into contact with @ @ @ @ @ @ @ infected person breathes , talks , coughs or sneezes .
These can be transferred directly to someone else in close proximity or via hands and surfaces .
How long it survives on surfaces is still not known , but preliminary studies suggest coronaviruses may remain infectious from a few hours to a few days .
Simple disinfectants kill the virus .
There ’ s a theoretical risk the virus can spread through feces or farther through the air in tiny particles known as aerosols .
People who are still incubating the virus and @ @ @ @ @ @ @ Epidemiologists try to gauge contagiousness by estimating the number of additional people a person who is infected is likely to infect .
That measurement , called a basic reproduction number , is one indicator of how difficult an epidemic is to control .
The World Health Organization gives a preliminary range of 1.4 to 2.5 for Covid-19 .
At the high end , that makes it similar to SARS and more infectious than flu .
A group from the Chinese Academy of Sciences in Beijing estimated the number to be 4.08 .
Coronaviruses @ @ @ @ @ @ @ There ’ s a large family of them , responsible for diseases that range in severity from the common cold to MERS .
Some transmit easily from person to person , while others do not .
The WHO says that new strains emerge periodically around the globe , and several known versions are circulating in animals and haven ’ t infected humans .
The virus emerged in early December in Wuhan , an industrial city of 11 million and capital of Hubei province .
Early attention focused on a seafood market where live @ @ @ @ @ @ @ a third of the first 41 cases were found to have no link to it .
The viral genome is even more closely related to several coronaviruses found in bats than it is to the SARS coronavirus .
Diseases transmissible from animals to humans , sometimes referred to as “ zoonoses , ” comprise a large percentage of all newly identified infectious diseases .
There is always concern when a new pathogen emerges in people because they typically lack immunity to it and there usually aren ’ t specific treatments or vaccines available @ @ @ @ @ @ @ in humans before , represent a particular concern because they have been known to spark complicated outbreaks that have sickened thousands of people , like SARS did as it swept across the globe from southern China .
Unlike SARS , relatively few cases have been reported outside mainland China .
But in Hubei , thousands of people have been hospitalized in isolation wards and hundreds are being treated in intensive care units , creating what officials there have described as an “ extreme , severe and abrupt public health crisis.
” A Wuhan @ @ @ @ @ @ @ health-care staff and other patients , according to a study published in the Journal of the American Medical Association .
China ’ s government imposed a quarantine on Wuhan and more than a dozen other cities in the region , a travel ban covering in excess of 50 million people .
New hospitals were built from the ground up in days , and the production of medical equipment ramped up .
The WHO has declared the outbreak a global health emergency , a designation that can help mobilize international responses .
Anyone caught @ @ @ @ @ @ @ in some Asian countries .
Hong Kong , the international financial center that functions with some autonomy from China , announced its own travel restrictions from the mainland .
The U.S. , Australia , India and other countries are denying or restricting entry for non-citizens arriving from China in an attempt to stop the virus ’ s spread , although the WHO has called such measures unnecessary .
Early praise for China ’ s response has ebbed .
The country did not immediately release genetic information about the virus and has struggled to @ @ @ @ @ @ @ new cases .
In a nation where the internet is heavily censored , there was a rare outpouring of social media fury over the death from the virus of a Chinese doctor who had waved an early red flag about the outbreak but was silenced by police .
The top officials in Wuhan and Hubei were later removed from their posts .
China ’ s strict quarantine likely bought the rest of the world two to three weeks to prepare for the virus , according to the WHO .


washingtonpost--2020-02-19--Analysis | What’s the Big Attraction in British Airways?

Under British share ownership rules , an investor with 25 % or more of the stock can block special resolutions , such as changes to the articles of association or to a company ’ s name .
Unlike some airlines , IAG is focused on making money for its shareholders but it ’ s still a little baffling why the Qatar Airways boss , Akbar Al Baker , would pay all that money for such limited influence ( his airline didn ’ t respond to questions seeking further clarification ) .
Usually , the company ’ s approach is not @ @ @ @ @ @ @ is doubtless snaffling up stakes in rivals as a means of asserting soft power on behalf of its government , and enhancing its own global flight network — and it ’ s not alone in doing that .
But the Gulf company is one of the most acquisitive carriers , and maybe that ’ s not a good thing given the mixed performance of airline stocks .
In addition to its IAG shares , Qatar owns minority stakes in Latam , Cathay Pacific and China Southern Airlines .
It also wants one in @ @ @ @ @ @ @ certainly has more of a need to curry favor with international partners than a typical airline .
In 2017 , the state ’ s regional neighbors Saudi Arabia , Bahrain , Egypt and the United Arab Emirates imposed an air , sea and land blockade that remains in place .
That threatens Doha ’ s status as an aviation hub .
But Qatar Airways ’ efforts to gain influence overseas by acquiring stakes in rival carriers haven ’ t always been welcome .
Al Baker had to give up on buying a stake @ @ @ @ @ @ @ latter ’ s chief executive officer , Doug Parker , made clear the Qataris wouldn ’ t be welcome .
U.S. airlines often accuse the Gulf carriers of unfair competition owing to state subsidies , which they deny .
More recently , Lufthansa AG said Qatar Airways should rethink any idea of investing in the German flag carrier .
“ We did not have Lufthansa privatized in Germany to have it nationalized in Qatar , ” a spokesman told Reuters in December , sounding unusually frosty .
In fairness , IAG has been @ @ @ @ @ @ @ .
The stock has gained about 17 % in British pound terms since the airline first acquired a 10 % stake in 2015 .
Subsequent IAG share purchases have done better .
With respect , though , few financial advisers would counsel their clients to make concentrated bets on airline stocks .
Some of Qatar Airways ’ other investments are instructive .
Earlier this month Air Italy went into liquidation despite Qatar ’ s strong desire to keep it afloat .
In the end its 49 % shareholding counted for nothing .
The @ @ @ @ @ @ @ Cathay Pacific Airways Ltd. in 2017 also appears to be underwater .
The stake was acquired for HK $ 13.65 a share but the stock is now worth about HK $ 10.50 amid the protests in Hong Kong and the new coronavirus .
Of course , Al Baker can invest his company ’ s capital however he wishes — he doesn ’ t have shareholders to answer to .
But he may want to listen to someone who does .
Walsh , who will step down at IAG in March , had this @ @ @ @ @ @ @ and alliances late last year : “ Taking a minority stake without having some form of control , or some influence over what the airline is going to do , has no value whatsoever .
”


washingtonpost--2020-02-19--Analysis | Why a Medical-Glove Panic Isn’t Helping Rubber

That ’ s despite the fact that companies in the business of selling sterile gloves have been doing rather well this year .
Shares in the Malaysian companies that dominate the market — Top Glove Corp. , Hartalega Holdings Bhd.
, Supermax Corp. and Kossan Rubber Industries — are all up by more than 10 % .
Competitors in the U.S. , Europe and Australia are also benefiting .
The best explanation for what ’ s happening comes from looking at the way the glove market itself is changing .
While infection is a clear and present danger to healthcare @ @ @ @ @ @ @ such exposure have problems of their own .
Around one in 10 people working in healthcare suffer from latex allergies or sensitivities , twice the rate of the general population .
That ’ s meant a market once dominated by natural rubber from tree sap has been switching to synthetic alternatives that don ’ t cause such reactions .
About 41 % of Top Glove ’ s revenues in the 2019 fiscal year came from petroleum-derived nitrile gloves and another 10 % from other synthetic materials , compared with 11 % and 7 @ @ @ @ @ @ @ for latex gloves powdered with cornstarch to ease getting them on and off — a particularly allergenic design — has fallen by half .
There ’ s a bigger issue .
While synthetic rubber provides an attractive alternative to natural materials in the glove market , it ’ s failed to make inroads into the biggest end-market for natural rubber — tires .
About three-quarters of all tree rubber goes into making automotive treads , where its hard-wearing qualities mean synthetic alternatives don ’ t work as substitutes .
That ’ s the @ @ @ @ @ @ @ have been struggling .
Raw-materials demand in the natural-latex subset of the relatively small medical-gloves market will no doubt benefit from the current outbreak , but the biggest impact from Covid-19 is on the roads .
China ’ s car sales fell 22 % from a year earlier and may slump 30 % this month , the China Passenger Car Association said last week .
This is bad news for the roughly one-third of tire sales that go into new cars .
The distance they ’ re being driven in China appears to @ @ @ @ @ @ @ travel restrictions .
That means the much larger replacement tire market is in for a rough patch — and , with it , the natural rubber industry .
The biggest producer of the commodity , Thailand , is already struggling .
As my colleague Clara Ferreira Marques has written , the Southeast Asian economy ’ s heavy dependence on trade and tourism with China has left it unusually vulnerable to coronavirus .
Rubber plantations there have been facing challenges for some time , with the government announcing plans last year to cut acreage @ @ @ @ @ @ @ decades in a bid to drive up prices .
The small farmers and tappers who still dominate production rarely do much better than break even .
The drop-off as a result of coronavirus may be a one-time hit , but the wider issues for the natural rubber market aren ’ t going away .
Global car production may already have peaked , according to Robert Bosch GmbH .
Alternative sources of latex , such as a variety of dandelion , may take an increasing share of the market .
It ’ s going @ @ @ @ @ @ @ bounces back .
David Fickling is a Bloomberg Opinion columnist covering commodities , as well as industrial and consumer companies .
He has been a reporter for Bloomberg News , Dow Jones , the Wall Street Journal , the Financial Times and the Guardian .


washingtonpost--2020-02-19--Analysis | Selling Cars in China Is Worse Than Making Them

With the outbreak wreaking havoc across the auto supply chain , among others , there has been hope that Beijing will throw around stimulus to get China Inc. through another rough patch .
A cratering car market could lead the government to support yet more purchasing incentives and other measures directed at consumers .
Already , authorities in Foshan in Guangdong province are giving consumers a 2,000 yuan to 5,000 yuan ( $ 286 to $ 715 ) subsidy per new car bought .
Households could start talking about car ownership as a safer option to public transport or ride-sharing @ @ @ @ @ @ @ signs that traffic is picking up in bigger cities has many believing sales could get a lift .
Beijing can stuff cash into consumers ’ pockets but they can ’ t drag them into showrooms .
Potential buyers won ’ t go into dealerships and wrap their hands around a leathery steering wheel and engage with fancy gadgets if they don ’ t know who was touching them before .
Yet as they sit at home , they ’ re in theory a captive audience for sales pitches leading them to dealers ’ @ @ @ @ @ @ @ to check out cars in the online exhibition hall and “ enjoy the new experience.
” Online sales could boost demand , the thinking goes .
Investors are perhaps reaching for cheery scenarios .
Under the hood , the situation at dealerships is far worse .
Earlier this month , their association pleaded with financial regulators to provide funding support due to “ extreme liquidity pressure ” as they expect sales to fall off a cliff .
In a sign of desperation , one of the weaker but large dealerships for luxury brands @ @ @ @ @ @ @ Automotive Plc tapped its existing bonds Tuesday for just $ 13 million at 12 % for two years.Dealers have good reason to be worried .
Their businesses are inherently working-capital intensive .
They ’ re not turning inventory and sales fast enough to generate cash , and accounts receivable are stretched .
Elevated inventories continue to tick up .
Manufacturers can ’ t pay dealers on time , and dealers haven ’ t been able to meet sales targets that determine the rebates they get .
Loan-backed sales could start to bite their @ @ @ @ @ @ @ crimps consumer incomes .
As for stimulus measures and online showrooms buoying sales , hopes are thinning .
Ultimately , buyers need to walk into a showroom and sign documents , whether or not they can pay some fees through WeChat or other platforms .
Even the likes of Alibaba Group Holdings Ltd. have tried their luck at online car sales , and it hasn ’ t resulted in much .
As Jefferies Financial Group Inc. analysts put it , buying a car involves several interactions between buyers and other parties , including @ @ @ @ @ @ @ interaction requirements make online car sales almost impossible in the medium term.
” Dealership earnings are primarily driven by new car sales .
All else being equal , an increase of 50 basis points in new car sales margins boosts net profit by more than 10 % , according to an analysis by HSBC Holdings Plc .
Even if dealers manage to sell the heaps of cars they ’ re sitting on , big discounts erode margins .
Other profit streams aren ’ t looking so strong , either .
Dealers have come @ @ @ @ @ @ @ servicing for a big portion of their earnings .
More than 40 % of profits , on average , come from fees they charge for things like financing , registration and pre-delivery inspection .
With competition rising , those won ’ t hold up .
If sales are low , demand for servicing will also stagnate .
China ’ s auto dealers are trading at an average 8.5 times their one-year forward earnings .
For most of these companies , that ’ s well above their long-term average of 7.1 times .
All @ @ @ @ @ @ @ are faring .
Investors can keep waiting for demand to pick up .
But misplaced optimism can take this rally only so far .


washingtonpost--2020-02-19--Analysis | Singapore Pops a Potent Anti-Viral. Is It Enough?

The overall deficit will be S $ 10.9 billion ( $ 7.8 billion ) , Finance Minister Heng Swee Keat said in his budget speech , a sharp jump from S $ 1.7 billion last year .
At 2.1 % of gross domestic product , it ’ s a bold number for a fiscally prudent government that even during the 2009 global financial crisis was barely S $ 800 million in the red .
( It had planned for an S $ 8.7 billion shortfall , but the economy improved . )
By opening the public wallet wide , policymakers @ @ @ @ @ @ @ the economic consequences of the coronavirus at least as seriously as those emanating from a global financial contagion .
For businesses , Singapore is setting aside S $ 4 billion , a much bigger reprisal of the S $ 230 million relief measures announced during the 2003 epidemic of Severe Acute Respiratory Syndrome , or SARS .
The planned measures include property-tax rebates , rental discounts and cheaper credit for tourism , aviation , retail , hospitality , food and taxi services -- industries that are already bleeding .
To others , Heng @ @ @ @ @ @ @ government-supported wages and salary increases for lower-paid employees .
The generous package , supplemented by a S $ 800 million boost to the aging country ’ s steadily growing health budget as well as S $ 1.6 billion of “ care and support ” cash directly for households , will also set the tone for rival Asian financial center Hong Kong ’ s annual budget due later this month .
Given its stronger tourism and supply-chain links to China , the center of the outbreak , Hong Kong will be expected to do @ @ @ @ @ @ @ up by Nomura Research shows the territory to be the most exposed to the coronavirus outside of the mainland .
Thailand and Singapore lie in close competition for the unenviable No .
2 position .
And yet , Hong Kong doesn ’ t have Singapore ’ s fiscal firepower , which has been augmented over the years by bolstering the budget with part of the expected long-term returns of the sovereign wealth fund , GIC Pte , and the state investment firm , Temasek Holdings Pte .
Whether Singapore manages to hit its @ @ @ @ @ @ @ The 2015 gap narrowed to S $ 4 billion after initially being estimated at S $ 6.7 billion .
Strip out the total S $ 4.5 billion investment in the airport and productivity that year , and the budget basically balanced.This time , the deficit is bloated by S $ 6 billion earmarked for a fund that will help Singaporeans absorb a higher cost of living when the 7 % goods and services tax rises to 9 % .
It ’ s supposed to occur sometime between 2021 and 2025 , though Heng @ @ @ @ @ @ @ , learning a lesson perhaps from Japan ’ s mistimed consumption-tax increase last quarter , a self-induced mistake , as my colleague Daniel Moss describes it .
Still , sparing people future pain may be as crucial as offering a palliative .
This was expected to be the last budget before the ruling People ’ s Action Party next faces elections .
Polls are due by April 2021 but are very likely to be held later this year once the health scare is contained .
Singapore governments are constitutionally mandated to aim for @ @ @ @ @ @ @ .
The current administration was fortuitously sitting on S $ 17 billion-plus in surpluses accumulated since 2016 .
The stockpile will come in handy to please voters and fight the virus .
Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services .
He previously was a columnist for Reuters Breakingviews .
He has also worked for the Straits Times , ET NOW and Bloomberg News .


washingtonpost--2020-04-24--Analysis | Drugs Authorized for Covid-19? Why There’s Skepticism

The U.S. Food and Drug Administration in late March controversially issued an Emergency Use Authorization providing for two malaria drugs , chloroquine and hydroxychloroquine , to be distributed and prescribed by doctors to Covid-19 patients .
The move came after President Donald Trump repeatedly touted the drugs .
Such authorizations are permitted during a crisis when a product ’ s “ known and potential benefits ” outweigh its “ known and potential risks.
” The Russian government in mid-April ordered the free distribution of hydroxychloroquine , which hadn ’ t been registered for use in the country previously , for @ @ @ @ @ @ @ s decision and Trump ’ s championing of the drugs have been criticized by scientists as premature .
In a small study in France , hydroxychloroquine showed promising results , but the trial ’ s methodology has been challenged , and in another small trial in China , the drug was no more effective than conventional care .
And it carries significant side effects .
In April , France reported 43 cases of heart incidents linked to treating coronavirus patients with hydroxychloroquine .
Plus panic-buying of hydroxychloroquine has created shortages of the drug @ @ @ @ @ @ @ disease lupus , for whom it is a proven therapy .
Even if a treatment shows promise in laboratory , animal or early human experiments , rigorous testing is needed to prove that it ’ s both safe and effective .
That requires carefully structured and monitored tests known as clinical trials .
Typically , these studies are designed to show that patients randomly assigned to get the drug do better than those in a “ control group ” who don ’ t , and that the results aren ’ t a product @ @ @ @ @ @ @ subtract all the other influences and factors that might disguise the true effectiveness of the drug .
For one thing , patients often recover from viral illness on their own , or improve because of supportive care such as rest and hydration .
And some really sick patients might not respond to treatment no matter how effective it is .
Treatments that don ’ t have approval from regulators such as the U.S. Food and Drug Administration should be viewed with extreme caution .
The FDA and the U.S. Federal Trade Commission have @ @ @ @ @ @ @ treatments for coronavirus .
It depends .
Drugs that are already approved against one infection and shown to be safe can be tested for effectiveness against another in a matter of months .
Experimental drugs may take longer to test , as they have to go through initial studies to evaluate whether they are safe .
Other factors that can slow the process include the supply of drug candidates and the availability of patients to test them in .
The trials also have to be approved by ethics watchdogs and drug regulators .
@ @ @ @ @ @ @ median time for regulators to approve a new drug in 2015 was 333 days in the U.S. , 422 days in Europe , and 639 days in China .
China has since expedited its process .
When drugs are deemed to fill an immediate need , regulators can speed them through the approval process using a number of paths .
Trials involving remdesivir , an experimental antiviral made by Gilead Sciences Inc. originally as a treatment for Ebola , are being closely watched .
A summary posted April 23 of a Chinese trial @ @ @ @ @ @ @ appeared to show the drug was a failure .
The World Health Organization , which posted the data , said it had done so by mistake and took down the post .
Gilead and a scientist involved in the trial said the data was incomplete and didn ’ t fairly represent the results .
An earlier report that remdesivir appeared to have helped a group of patients enrolled in a study at the University of Chicago created a flurry of excitement , but the university cautioned that the information was incomplete and inconclusive @ @ @ @ @ @ @ are underway .
In a study in China published March 18 , AbbVie Inc. ’ s Kaletra , an HIV treatment combining two drugs , failed to improve the condition of coronavirus patients .
Another small , preliminary trial of the flu medication favipiravir , or Avigan , made by Fujifilm Holdings Corp. produced more promising results .
More than 70 experimental vaccines against the coronavirus are in some stage of development , according to the World Health Organization .
Moving at record speed , researchers began preliminary human testing of the first @ @ @ @ @ @ @ .
It was developed by the U.S. National Institute of Allergy and Infectious Diseases in collaboration with the biotechnology company Moderna Inc .
Since then , a handful of additional human trials have begun of vaccine candidates , including from CanSino Biologics Inc. and the Beijing Institute of Biotechnology and from Inovio Pharmaceuticals Inc .
Some of the world ’ s biggest companies are working on vaccine projects .
GlaxoSmithKline has teamed up with China-based Clover Biopharmaceuticals , while Sanofi and Johnson & Johnson are in separate collaborations with the U.S. government ’ @ @ @ @ @ @ @ .
Widespread testing of experimental vaccines is important to reduce the possibility that they cause harm after being rolled out , as has been the case a number of times in the past .
Documented reports of unexpected side effects from new vaccines are different from the persistent and incorrect belief that vaccines against childhood diseases carry significant risks .
Anthony Fauci , director of the U.S. National Institute of Allergy and Infectious Diseases , said that it would take about a year and a half to complete trials of experimental coronavirus vaccines @ @ @ @ @ @ @ licensed product widely available .
A team at the University of Oxford has set an ambitious aim of producing efficacy results for its vaccine candidate in September and aims to shorten the path to delivering the initial doses of a proven product by beginning manufacturing now .
There ’ s no guarantee trials will yield a successful vaccine , however .
The experimental products moving most rapidly are made using new technologies that have never proven useful in humans .
SARS killed nearly 800 people in a 2002-2003 outbreak , and there still @ @ @ @ @ @ @ In a project that could deliver a vaccine sooner , researchers in four countries will test a shot that ’ s already licensed to prevent tuberculosis to see if it will protect health workers against the coronavirus .


washingtonpost--2020-04-22--Analysis | AT&T Is a Window Into Life Under Lockdown

Before “ low visibility ” became business jargon , it was a flying term to describe when pilots literally couldn ’ t see what ’ s ahead from the cockpit window .
That ’ s sure to be the recurring theme this earnings season , just as it captures the anxiety felt by heads of households around the country .
For AT & T — a wireless carrier , pay-TV provider , cable programmer and soon-to-be streaming giant — the virus indirectly reduced revenue by $ 600 million and earnings by 5 cents per share .
AT & T has @ @ @ @ @ @ @ the rest of its industry : Stephenson bought the company ’ s way into the media world through costly , debt-laden acquisitions at a time when its core wireless network is proving to be the best business it has .
But because those deals have also left AT & T with such a broad reach , it ’ s now almost a microcosm of the broader economy .
Here ’ s what AT & T ’ s earnings report and executives revealed about its different business touch points : The Consumer The national @ @ @ @ @ @ @ more reliant on internet networks than ever before , and we ’ re also watching much more video entertainment .
That helped account for the 27,000 regular wireless customers AT & T added on a net basis during the first quarter .
That said , the company also had to implement more flexible payment options and waive fees for late payments and overage charges , showing the fragility of some of its base .
On that same note , AT & T said it didn ’ t count some 40,000 wireless customers in @ @ @ @ @ @ @ s still currently providing service to them , because it considers them “ disconnections.
” With household budgets tightening , there ’ s also likely to be continued subscriber losses at DirecTV ; as it is , one million customers fled AT & T ’ s pay-TV services during the latest period .
AT & T management said they are watching to see whether the arrival of stimulus checks will improve the company ’ s ability to collect payments in the coming months .
Either way , the economic downturn will reduce the @ @ @ @ @ @ @ new , more expensive smartphones .
And for those who do , AT & T stores are offering curbside pickup — just one way that physical-distancing efforts are changing consumer behavior and could have some lasting effects .
“ We ’ re prepared to adjust to whatever the consumer wants to do , ” said John Stankey , AT & T ’ s president and chief operating officer .
One thing the consumer may not want to do as often in the future is go to movie theaters , which brings us to @ @ @ @ @ @ @ Partners In a comment that cuts deep for U.S. exhibitors , Stankey said AT & T is “ rethinking our theatrical model.
” Translation : More films could go straight to home viewing or premiere on HBO Max , the Netflix-like video-streaming service that launches May 27 .
It ’ s yet another sign that studios will seek to further shrink theatrical windows and become less dependent on box office ticket revenue .
On the TV side , industries that typically spend lots of money on advertising — travel websites , automobiles , @ @ @ @ @ @ @ ’ s especially painful for networks that air sports , since most leagues have postponed or canceled events that are normally a magnet for advertisers .
Total AT & T ad revenue was down 13 % for the period to $ 1.5 billion .
With productions shut down across Hollywood , some of HBO Max ’ s content may also be delayed , a problem that ’ s affecting rivals such as Walt Disney Co. ’ s Disney+ as well .
The silver lining is that it requires fewer cash outlays for the @ @ @ @ @ @ @ first remarks during the Q & A portion of Wednesday ’ s call were some of the most revealing .
Asked about his perspective on the broader economy , he said : “ The most disconcerting , troublesome area that we ’ re seeing is what ’ s happening down in small business .
The small business trends are pretty significant in terms of employee displacements and business closures , and that ’ s the place that ’ s going to drive , probably in the next couple months , the unemployment more @ @ @ @ @ @ @ ” As such , small businesses are another customer base where AT & T has eased payment options and fees .
EmployeesHalf of AT & T ’ s employees are working from home ; however , some of its network enhancements require employees to physically tinker with cellular sites , and that work is continuing .
AT & T also said its spending plans for 5G and broadband fiber connections are still a top priority , even if the pandemic is creating some logistical hurdles , such as attaining permits from government officials @ @ @ @ @ @ @ making sure workers are safe on the job .
“ In our industry , it ’ s not just people writing checks , ” said Stankey .
“ It ’ s people out doing things.
” The company cited new protocols around personal protection , equipment , social distancing and cleaning for its employees who still have to physically come to work .
It also gave its workers on the front lines a 20 % pay bump , and all employees receive four weeks of additional paid time off for Covid-19-related needs .
@ @ @ @ @ @ @ sweeping effect the pandemic is having on American business .
AT & T , like others , is performing a balancing act in trying to keep workers safe , consumers connected and shareholders satisfied .
The coronavirus is at least reminding executives that those needs shouldn ’ t be mutually exclusive .


washingtonpost--2020-03-27--U.S. Infections Top 100,000; L.A. Warns of Surge: Virus Update

The outbreak also threatens to cause a catastrophe in Syria , the WHO said .
Half of the nation ’ @ @ @ @ @ after nine years of war and thousands of health workers having fled the country .
@ @ @ @ @ in overcrowded camps in the country ’ s northwest , but after two days of @ @ @ @ @ , no cases so far have been detected , the agency said .


washingtonpost--2020-03-27--Analysis | The Law Trump Can Use to Order More Ventilators

Yes .
The Department of Defense “ routinely ” uses the law to make sure military-related orders are given priority within the U.S. supply chain , according to the Congressional Research Service .
The Federal Emergency Management Agency has used it after natural disasters to prioritize contracts for manufactured housing , food and bottled water , and other supplies .
Two decades ago , President Bill Clinton was criticized for using the law to order suppliers to sell natural gas to California -- at prices some senators said were far below market -- to help energy utilities facing credit crunches @ @ @ @ @ @ @ the law to boost production of rare earth elements , small drones and sensors to detect submarines , among other products .
His administration has also considered using it to help the coal and nuclear industries .
In addition to requiring that its orders be given priority , the government can create incentives for manufacturers , such as providing them with direct loans or loan guarantees ; buy equipment for them ; and waive antitrust restrictions that could discourage industry cooperation .
The law allows the government to control the use of scarce @ @ @ @ @ @ @ to reserve materials to fulfill federal orders .
Hoarding and price gouging are barred for materials the president designates as scarce .
Failing to comply with the law can lead to financial penalties or imprisonment .
Trump is using his power under the law to order General Motors Co. “ to accept , perform and prioritize contracts or orders for the number of ventilators ” deemed appropriate by the Department of Health and Human Services .
That department had earlier taken smaller steps under the law , banning hoarding and price-gouging of N95 @ @ @ @ @ @ @ equipment used by doctors and nurses .
On March 18 , he formally invoked the law with an executive order “ prioritizing and allocating health and medical resources to respond to the spread of Covid-19.
” But four days later , on March 22 , Trump said action under the law wasn ’ t needed because “ tremendous numbers of companies , ” including 3M Co. and General Electric Co. , had stepped forward voluntarily to make needed equipment .
He also suggested that using the law means “ nationalizing our business ” @ @ @ @ @ @ @ do .
( In fact , the law doesn ’ t mean the government taking ownership of any companies , which is what nationalization implies . )
The U.S. Chamber of Commerce supported Trump ’ s resistance to fully deploy his powers under the DPA .
Yes , though shortfalls remain .
3M is using “ surge capacity “ to ramp up production of N95 masks .
Distilleries and breweries are making hand sanitizer .
Still , experts say the law could be useful in coordinating production and distribution of complex goods , @ @ @ @ @ @ @ from hundreds of individual parts .


washingtonpost--2020-04-16--Trump’s Coronavirus Claims Collapse When Met by Limits on Powers

Trump ’ s public statements on the coronavirus outbreak show him running into the limits of his power , as well as his ability to bend events , politicians and even the national narrative to his will .
While he ’ s previously used his political standing and bluster to compel cabinet members and fellow Republicans to carry out his wishes , he ’ s found a virus that ’ s killed more than 27,000 Americans so far to be undeterred by his usual tactics .
He claimed that the outbreak was under control when it was quietly spreading across @ @ @ @ @ @ @ reopening only to be dissuaded by doctors who stuck to the facts .
He said any American could obtain tests for the virus when the diagnostics were in scarce supply .
He promoted a nationwide website that ended up serving only a few communities and a drug that hasn ’ t been proven effective against the disease .
The president and his defenders say that his leadership has saved American lives .
He imposed restrictions on travel from China on Jan. 31 to try to prevent the coronavirus from being imported into the @ @ @ @ @ @ @ social distancing measures on March 16 to curb the spread of the disease , after the U.S. failed to contain its outbreak , and then agreed to his health advisers ’ recommendations to extend the guidance until April 30 over the concerns of his economic and political team .
But with the U.S. economy in tatters and fears that lack of both a vaccine and widespread testing for the virus could lead to its resurgence , Trump may struggle to sell voters on the competency of his administration ’ s response .
Moreover @ @ @ @ @ @ @ President Joe Biden and other Democratic candidates on the ballot this November an opening to argue that Americans would be better off with their party in charge during the next crisis .
Just over a week later , he said at a campaign rally that warm weather in the spring could suppress the virus .
In a television interview Feb. 19 , the president predicted “ numbers are going to get progressively better as we go along.
” And later that month he criticized the press for “ panicking markets ” and said @ @ @ @ @ @ @ than $ 2.5 billion to prepare for the outbreak were “ complaining , for publicity purposes only.
” A centerpiece of the president ’ s plan to fight the coronavirus was a Google website that would help people figure out if they needed to take a test and then direct them to the closest testing site – including centers the president said would pop up in Walmart , Target , and drug-store parking lots across the country .
The president said Google had 1,700 engineers working on the project .
More than a @ @ @ @ @ @ @ only available to people living in Northern California counties and parts of Pennsylvania .
Walmart opened just its fourth drive-thru test site on Tuesday , while Target has only a single testing site open in California .
CVS Health Corp , Rite Aid Corp , and Walgreens Boots Alliance Inc. say they ’ re working to bring additional sites online , but so far only five locations appear to have opened outside drug stores nationwide .
Businesses are also struggling to access assistance through the Economic Injury Disaster Loan program , which provides @ @ @ @ @ @ @ as $ 2 million .
Requests for the funds have far exceeded the $ 17 billion allocated by Congress , and the National Federation of Independent Business said in a letter sent to congressional leaders on Tuesday that its research found “ none of the small business owners who applied for EIDLs have received a loan or an emergency grant .
”