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UK, France Suffer Record Jump In COVID-19 Cases As New York Hospitals Report Alarming Spike: Live Updates

UK, France Suffer Record Jump In COVID-19 Cases As New York Hospitals Report Alarming Spike: Live Updates

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UK, France Suffer Record Jump In COVID-19 Cases As New York Hospitals Report Alarming Spike: Live Updates Tyler Durden Thu, 09/24/2020 - 14:41

Summary:

  • France reports record 16k+ new cases
  • UK breaks record for most new daily cases
  • Spain reports 3,471 new cases
  • New York sees hospitalizations north of 500
  • Trump vetos vaccine restrictions
  • China says mass vaccinations to take up to 2 years
  • France introduces more curbs
  • Israel lockdown intensifies
  • FDA delivers emergency authorization
  • Moscow reports 1,050 new cases
  • Indonesia suffers 2nd straight record

* * *

Update (1425ET): France just followed up the UK by reporting a record jump in new COVID-19 infections as new social-distancing measures are just taking effect.

French health officials reported 16,096 new cases on Thursday, bringing the total to 497,237, the French Public Health Agency said. In a sign that increased testing isn't entirely to blame, the countrywide positivity rate for the day climbed to 6.2%.

Meanwhile, the number of COVID-19 deaths increased by 52 to a total of 31,511.

* * *

Update (1215ET): With the UK government ramping up testing in keeping with BoJo's promise to take more steps to combat a turnaround in infection rates, the UK has just reported its largest-ever daily tally.

6,634 new cases were reported, the most in a single day since the pandemic began. 40 new deaths were also reported.

Despite this new peak, epidemiologists told Sky News that realistically, these numbers are nowhere near 'the peak' reached in the spring, when as many as 100k people may have been infected per day.

Since the end of August, however, daily new cases have climbed 180%.

Elsewhere, COVID-19-linked hospitalizations in New York state have broken above 500, the highest tally since Aug. 19. All of this comes as cases in the US continue a post-LDW spike, while daily deaths also increase.

Here's an update on where things stand in the US.

In other European news, Spain just reported 3,471 new cases of COVID-19, compared with 4,143.

* * *

While the US marches toward the 7 million mark, France announced new restrictions on Wednesday calling for bars and restaurants to be shuttered in the 'hot spot' of Marseille, and Germany added 11 regions to its list of COVID hotspots, as the second wave of COVID-19 infection spreads across Europe.

China has been pressing ahead with its vaccination projects, with multiple efforts already well into 'Phase 3' testing. But if China's COVID-19 infection rates are really so low as to be virtuallly nonexistent, as Chinese official data, and state-controlled media reports, have suggested, then why is the Communist Party of China attaching such a high priority to the country's domestic mass-vaccination efforts?

A top government scientist told the local press that it'll take China up to two years to finish vaccinations on a mass scale, said infectious disease expert Zhong Nanshan, who was speaking at an "industry event", according to China's Changjiang Daily.

One could argue that another outbreak is just around the corner, but after months of Beijing's heavy handed "wartime footing" approach, people in Wuhan are partying like its 2019, and even a handful of domestic cases can trigger 'localized' lockdowns that can seal off cities from their surrounding province.

Circling back to the US, President Trump threatened to veto any attempt to tighten rules related to emergency clearance of a vaccine, a statement that will inevitably trigger another round of accusations about Trump meddling with government scientists and applying undue political pressure that could compromise the safety, and credibility, of the eventually-approved vaccine.

Still, Dr. Fauci and Dr. Redfield told Congress during yesterday's hearing that they "wouldn't hesitate" to get a vaccine if one was offered.

One day after JNJ became the fourth US vaccine project to enter 'Phase 3' testing, AstraZeneca said it is still waiting for a decision from the FDA on whether it can resume tests in the country after halting global trials due to concerns about a participant who became ill in the UK.

Though case numbers across Sweden remain well below their springtime peak, a recent surge in cases in and around Stockholm has prompted the country's top health officials to consider imposing new localized restrictions to prevent a broader resurgence. Swedish PM Lofven said the country "would not hesitate" to take further action to limit the spread.

After separately announcing new measures earlier in the week, Spain, France, the UK and Germany are leading European nations in combating a second wave that continues to rise. With Europeans opposed to a lockdown return, all of these countries are relying on 'localized' restrictions - particularly on bars and restaurants, and large gatherings and weddings - as their front-line of defense, with leaders (notably Johnson) warning that the restrictions could remain in place for up to six months.

The biggest numbers out of the US yesterday came from Texas, which followed California to become the 4th state to see its death toll top 15,000.

Here's a rundown of important numbers from yesterday, accurate as of 0630ET: 

31,914,770: confirmed cases worldwide

977,109: confirmed deaths worldwide

37,330: New US cases recorded yesterday

6,935,415: Total cases confirmed in the US

1,098: deaths in the US recorded yesterday

201,920: total U.S. deaths

97,459,742: tests conducted in the U.S.

Cases have fallen from a five-week high reached earlier in the week...

...while the US saw the highest number of deaths in a week yesterday.

Here's other important news from overnight:

US FDA delivered emergency authorization for the first serology/antibody point-of-care COVID test (Newswires).

China's Sinovac Biotech hopes to supply its experimental vaccine across Latin America as quickly as possible by outsourcing some manufacturing procedures to a partner in Brazil. Sinovac plans to provide semi-finished products to its partner Instituto Butantan, which will complete the rest of the process and supply finished items to other South American countries, Chairman Yin Weidong said at a news conference, part of China's effort to 'atone' for unleashing SARS-CoV-2 on the world (Source: Nikkei).

Indonesia reports a daily record high for the second consecutive day with 4,634 new infections, and 128 deaths. The country has now a total of 262,022 coronavirus cases, with the death toll crossing the 10,000 mark for the first time to 10,105 (Source: Nikkei).

The Philippines reports 2,180 new infections and 36 additional deaths. Total confirmed cases rose to 296,755, still the highest in Southeast Asia, while deaths reached 5,127, nearly half of which were recorded in the past 30 days (Source: Nikkei).

SoftBank Group starts offering PCR coronavirus testing with saliva that will cost 2,000 yen ($19) per person, excluding delivery fees, for corporate customers. In Japan, PCR testing is typically priced from 20,000 to 40,000 yen. The Japanese tech investor aims to expand the testing market by making tests available to people without symptoms at a reasonable price through its unit. It also plans to offer the service to individuals this winter (Source: Nikkei).

China reports seven new coronavirus cases for Thursday, down from 10 reported a day earlier. All new cases were imported infections involving travelers from overseas. The number of new asymptomatic cases rose to 20 from 18 a day earlier (Source: Nikkei).

Moscow registered 1,050 new cases in the last day, the first time that the Russian capital diagnosed over a thousand infections since June. New daily cases in Moscow have grown by two-thirds since Sept. 1, when schools opened nationwide. The number of infections is rising throughout Russia, with 6,595 new cases in the last day. There have been 1,128,836 reported infections, the fourth highest in the world, after the U.S., India and Brazil (Source: Bloomberg).

The Israeli government tightened lockdown restrictions for the next two weeks to try and fight a coronavirus outbreak that’s spun out of control. Just last week, the government imposed its second lockdown since the pandemic began. With daily new infections surging dramatically, the government voted early Thursday to clamp down further during a season of major Jewish holidays by almost totally idling the private sector, allowing only essential employees to work (Source: Bloomberg).

Russia is preparing to supply 17 more countries with its Avifavir COVID-19 treatment (Newswires).

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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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March 12, 2024

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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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March 12, 2024

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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

Journal

The Lancet Global Health

Method of Research

Observational study

Subject of Research

People

Article Title

Incidence of typhoid fever in Burkina Faso, Democratic Republic of the Congo, Ethiopia, Ghana, Madagascar, and Nigeria (the Severe Typhoid in Africa programme): a population-based study

Article Publication Date

12-Mar-2024

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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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March 12, 2024

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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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