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Gov Newsom In Quarantine; 30+ Countries Bar Travel With UK Over COVID Mutation: Live Updates

Gov Newsom In Quarantine; 30+ Countries Bar Travel With UK Over COVID Mutation: Live Updates

Summary:

Number of countries banning travel from UK tops 30
Israe, KSA bar all international travel on new mutation fears
California Gov. Quarant

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Gov Newsom In Quarantine; 30+ Countries Bar Travel With UK Over COVID Mutation: Live Updates

Summary:

  • Number of countries banning travel from UK tops 30
  • Israe, KSA bar all international travel on new mutation fears
  • California Gov. Quarantines after COVID exposure; hints at lockdown extension
  • EU grants market approval to Pfizer vaccine
  • 38K vaccinated in New York
  • WHO says it's "aware" of UK variant
  • Europe shuts doors to UK
  • Mutation announced last week stokes fears worldwide
  • US hospitalizations decline, led by Midwest
  • Sweden imposes travel ban
  • Ireland warns extension likely
  • Colombia capital lifts some restrictions
  • Tokyo mayor urges residents to stay home
  • Canada suspends flights to UK
  • Jakarta extends restrictions for another week
  • Clinical trials for Moderna vaccine in Japan will start in January

* * *

Update (1650ET): On a day that should have been focused on the rollout of Moderna's vaccine in the US, the narrative has instead been stolen by news of the new infectious "variant" - the media's favorite euphemism for "mutation" - that has reportedly been found not only in the UK, but South Africa and Denmark, among other locations.

As we approach Monday evening in New York on the longest night of the year, the number of countries that has cut off travel to the UK has risen to 30, while Boris Johnson held a hastily arranged press conference to reassure the country that travel would be restored in 48 hours.

The NYT even reported that the wave of travel restrictions was "offering a chilling preview of what a rupture might look like, just 10 days before a deadline to negotiate a post-Brexit trade agreement with the European Union."

Earlier, across the Atlantic, the European Union approved the Pfizer-BioNTech vaccine, paving the way for millions of doses to be transferred to all 27 European Union member states.

France, Austria, Belgium, Bulgaria, France, Germany, Ireland, Italy and the Netherlands were among the nations that announced restrictions on travel. Israel and Saudi Arabia went ever further, ordering bans on all international travel.

Notably, the US hasn't imposed any restrictions on the UK, and it's unlikely that President Trump would at this stage in the game.

* * *

Update (1400ET): California Gov. Gavin Newsom has just announced that he will be quarantined after a staffer tested positive for COVID-19.

Meanwhile, he said the ICU availability in the state is stretched thin, while the state's positivity rate reaches 12%, up from 8.7%. the ICU capacity rate has fallen to 2.5%. He added that the state's stay at home order will likely be extended.

Across the country in New York, Gov Cuomo revealed that 38K people have been vaccinated (presumably all health-care workers and residents at long-term care facilities).

In other news, VP Joe Biden has fulfilled his promise to be vaccinated on film. Dr. Fauci is expected to get vaccinated shortly.

* * *

Update (1230ET): As we head into Monday afternoon during a holiday-shortened week, the EMA, the European Union's medical agency, has approved the Pfizer-BioNTech vaccine for market sale. This means the first round of emergency vaccinations will start on Dec. 27 (in just under a week) in Europe.

The EMA also claimed that the new strain of the coronavirus emerging in the UK wouldn't be able to infect people who have been inoculated with any of the vaccines approved in the West.

Meanwhile, the WHO revealed during Monday's press briefing that it was first made aware of the new mutation on Dec. 14, and added that there's no reason to panic - at least not yet.

Finally, Moncef Slaoui of Operation Warp Speed said Monday that there's "no hard evidence" that the UK strain is actually more transmissible. We discussed this earlier, when we noted that many Tories resisted Boris Johnson's decision to impose a "Tier 4" lockdown on London and the surrounding area until the government can get a clearer picture on the science. Boris Johnson also said Monday during a press conference that he was working to restore travel to every other country and Europe.

In the US, patients have begun receiving the Moderna vaccine, as it has been trucked across the country.

But before we get too panicked, it's worth remembering that the notion that the variation is more infectious is based on some advanced computer modeling.

* * *

First revealed last week by Health Secretary Matt Hancock, a mutated version of the coronavirus discovered in parts of the UK, South Africa and other locations has prompted a swath of countries to block travelers and commerce coming from the UK. Some are warning that there's still not enough data on the variation (which some scientists claim is 70% more infectious than the original) for the public to start panicking about whether this might impact the efficacy of the first wave of vaccines.

According to the latest data from the COVID Tracking Project, the number of new cases tumbled back below 200K on Sunday, though the 7-day average was 211,387. Deaths were reported at 1,618, while the 7-day average was 2,613.

One reason the march higher in hospitalizations has stalled is due to the Midwest, which, thanks in part to the efforts of local officials, hospitalizations have started to fall from their peaks. Meanwhile, the three other regions are seeing deaths rates climbing to new records or - in the case of the northeast - the highest level since the spring.

While most states have reported record tallies in the past few weeks, the pace has slowed over the past week.

Switzerland was one of the first European countries to bar Britons from traveling to the country, while Ireland is already saying that it might expand its 48-hour ban. Sweden, meanwhile, said Monday morning that it would ban all non-Swedish people from entering Sweden from the UK. Additionally, at least five countries and airlines, including Germany and Turkey, are said to have banned flights from South Africa on Monday

As markets panic, some scientists are warning that these mutations raise new questions about the vaccines and their ability to protect people, while others are cautioning that it's likely these mutations won't have any impact on the vaccines and their ability to protect people. The WHO warned it could take days or more than a week to find out what impact this might have on vaccines, according to Soumya Swaminathan. "As we start using drugs and vaccines, viruses evolve to try to avoid those," Swaminathan said in an interview with Bloomberg TV. "At this point in time, I don’t think we have any evidence to suggest that the vaccines under development will not work for the majority of patients."

Saudi Arabia halted international flights and closed its borders for one week over fears about the fast-spreading new strain of the coronavirus. And the kingdom may extend the suspension for another week depending on the nature of the virus spread, according to state-run Saudi Press Agency.

While Europe imposes new travel restrictions reminiscent of the springtime lockdowns, the head of the Warp Speed Operation Moncef Slaoui said he hopes the US will reach the threshold for herd immunity in "May or June".

Here's some more COVID news from overnight and Monday morning:

  • Seoul Metropolitan Government and its neighboring Gyeonggi and Incheon provinces will ban holiday gatherings of five or more people from Dec. 23 to Jan. 3. The restrictions would apply to about half of the country’s 51 million people. Weddings and funerals aren’t included in the new rules.
  • Indonesia’s capital has extended its virus restrictions by another two weeks as cases continue to rise and to prevent any further spikes from the holiday season.
  • Prime Minister Justin Trudeau’s government suspended flights between Canada and the U.K. for 72 hours effective midnight Sunday due to "the high number of cases of a variant Covid-19 virus observed in some areas in the United Kingdom."
  • Tokyo Gov. Yuriko Koike urges the capital's 14 million residents to stay home during the upcoming holiday season to prevent further spread of infections. "I would like people to prioritize life above everything else during the year-end and New Year," Koike said at a news conference. "I do hope families will stay home during the holiday season."
  • Colombia’s capital Bogota will return to partial mobility restrictions where citizens are only allowed to buy staples, go to restaurants, shopping malls, among other spots, depending on the last digit of their ID, Mayor Claudia López said in a video posted on Twitter. The new measures will take place from Monday.
  • U.S. congressional leaders say they have reached an agreement on a $900 billion package to provide the first new aid in months to an economy hammered by the pandemic, with votes likely on Monday.
  • China records 23 new cases for Sunday, unchanged from a day earlier. Of the new cases, 21 were imported. The two local transmissions were in the northeastern provinces of Liaoning and Heilongjiang.
  • Clinical trials of Moderna's COVID-19 vaccine in Japan will start "as early as in January," a Takeda Pharmaceutical executive says.

Finally, Slaoui said 8 million doses of the new coronavirus vaccines from Moderna and Pfizer are expected to be shipped on Monday. In other news, South Australia imposed a 14-day quarantine on arrivals to Sydney on Sunday and banned travelers from affected suburbs as a coronavirus cluster in the city grew to around 70, while fears of a mutated strain intensify.

While there's no evidence showing that the mutated strain is more resistant to the vaccine, the central assumption now is "that all of next year’s forecasts and views could actually turn out wrong,” said Christoph Rieger, head of fixed-rate strategy at Commerzbank AG. “That is quite a scary thought indeed.”

Tyler Durden Mon, 12/21/2020 - 17:09

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Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

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They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

More Tech Stocks:

Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

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Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

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There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

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