Home / Business / Coronavirus update: US death toll exceeds 217,000; Nature magazine becomes the latest scientific journal to blow up Trump’s handling of the pandemic

Coronavirus update: US death toll exceeds 217,000; Nature magazine becomes the latest scientific journal to blow up Trump’s handling of the pandemic

The U.S. death toll from coronavirus COVID-19 soared to more than 217,000 on Thursday as Nature magazine became the latest scientific journal to harshly criticize President Donald Trump’s handling of the pandemic, backing his rival, Democrat Joe Biden, as president.

Nature echoed comments made by the New England Journal editorial board just last week, in its critique of Trump’s attack on science, to the same public health agencies that report to him and are expected to lead the management of the pandemic. the media, the Justice Department and even the electoral system.

“The Trump administration’s contempt for rules, government, science, the institutions of democracy, and ultimately the facts and truth have been fully shown in its disastrous response to the COVID-1

9 pandemic,” wrote the editors of Nature.

From the start, Trump chose not to devise a national strategy to test, contact, track, and strengthen public health facilities, and instead “mocked and publicly mocked the science-based health guidelines established by the US Centers for Control and disease prevention by the use of face masks and social distancing, “they wrote.

See:Kamala Harris halts travel until Sunday after two people involved in the campaign tested positive for COVID-19

The administration subsequently reshaped the guidelines, “when the message was not in line with its agenda. Trump lied about the dangers posed by the virus and encouraged people to protest policies aimed at slowing its transmission. The result, if not the goal, has been to minimize the greatest crisis the country – and the world – has faced in at least half a century. “

Trump’s actions have had “devastating consequences,” the editorial continues.

The United States, with 4% of the world’s population, has had 7.9 million confirmed cases of COVID-19, or about one-fifth of the global total of 38.7 million, according to aggregate data from Johns Hopkins University. It recorded 217,220 deaths, or more than a fifth of the global total of 1.09 million.

The United States added more than 59,000 new cases on Wednesday, Johns Hopkins figures show, as Midwestern states continue to see cases on the rise and hospital beds fill.

Ohio counted more than 2,000 new cases in a single day, the largest one-day leap since the outbreak began. Ohio currently has 1,042 COVID-19 patients hospitalized and 268 are in intensive care units, according to the Covid Tracking Project. State hospitals have nearly 80 percent capacity, according to the Ohio Department of Health.

North Dakota and South Dakota have been leading the nation in number of new cases in the past week, according to a New York Times tracker. As many as 28 states are showing more cases, including Montana, Wisconsin, Nebraska, Iowa, Idaho, and Wyoming.

North Dakota currently has 206 COVID-19 patients in hospitals, including 39 in an intensive care unit, leaving only 13.6 percent of the beds available, according to the state’s health department.

South Dakota has 303 hospitalized COVID-19 patients and is nearly 70 percent capacity, according to that state’s department of health.

Trump continued with his election rallies Wednesday with an event in Iowa, his third such rally in as many days. Trump and Biden will hold city hall duel events on live TV Thursday later, when the two were scheduled to argue until Trump, while recovering from COVID-19, refused to accept a debate format at the virtual city hall and Biden’s team immediately scheduled a town hall with voters on ABC. Trump struck a deal this week to appear on NBC.

Dr Anthony Fauci, head of the National Institute for Allergy and Infectious Diseases, expressed his frustration with Trump’s demonstrations in an interview with the “CBS Evening News”.

“You know, I cannot advise the president on what he can and should do regarding his political campaigns, but I can reiterate my statement that when many people’s circles come together closely [and] when most are not wearing masks, this is a risky situation to be avoided, “he said.

See also: When will the COVD-19 pandemic end? History offers a sobering message

In other news:

• The European head of the World Health Organization warned that EU governments are not fully prepared for the wave of infections that is currently engulfing the continent and recommended measures to roll out vaccines as soon as they become available, the Guardian. “While the evolution of the pandemic is returning to March levels, our preparedness is not,” said EU Executive Vice President Margaritis Schinas.

• According to a published report, private briefings from two senior White House aides to a conservative institution at the start of the coronavirus outbreak led investors to short sell the stock market and even load up toilet paper. Tomas Philipson, then chairman of the Council of Economic Advisers, and Larry Kudlow, director of the National Economic Council, told the Hoover Institution of the uncertainties about the coronavirus in harsher terms than they’d briefed the public, according to the New York Times. This led William Callanan, a Hoover board member, to write a memo to David Tepper, the founder of hedge fund firm Appaloosa Management, and an assistant to Tepper, the report said. Callanan would write that he found it surprising that both of them mentioned their concerns without being provoked. The email was then distributed to other Appaloosa employees, who discussed the memo with other investors. The report says the memo helped persuade investors to short the stock market.

Not to be missed:COVID-19 Vaccine Tracker: Everything You Need to Know About Companies with Candidates in Phase 1 or Later Phase Trials

• London became the latest city to announce tougher restrictions on coronavirus as Europe grapples with a spike in new infections. Londoners will be banned from mixing at home with other families on Saturday as the city moves to level 2 restrictions. The UK has the highest death toll in Europe, Johns Hopkins figures show. The country lost 43,383 lives to the virus, the fifth highest toll in the world, and has had 676,455 confirmed cases. London follows Paris, which will be subject to a night curfew that prohibits people from being outdoors from 9pm. until 6 am, except for essential reasons, for four weeks.

Read now:Northern Italy sees the resumption of COVID-19 infections, with an increase in hospitalizations

• Scientists at the University of Oxford have developed a rapid COVID-19 test that can produce results in less than five minutes. The researchers hoped the test could eventually be used in airports, music venues and businesses to quickly create COVID-free spaces. The university said it hopes to begin product development in early 2021, with an approved device available within six months. He is currently working to create a spinout company, seeking investment to accelerate testing in a fully integrated device.

• New York Governor Andrew Cuomo is threatening to withhold state funding from a number of municipalities, including New York City, if officials don’t push harder on social distancing warrants imposed last week in coronavirus hotspots. the Wall Street Journal reported. Cuomo, a Democrat, again said he was frustrated by press reports that some schools and large religious gatherings have violated the new restrictions.

Last counts

Johns Hopkins data shows that 26.7 million people have recovered from COVID-19 since the outbreak began.

Brazil has the second highest number of victims with 151,747 and is third for cases with 5.1 million. India is second in cases with 7.3 million and third in deaths with 111,266.

See: Get ready for a “marathon” and two years of masks to fight COVID-19, says a famous Spanish virologist

Mexico has the fourth highest death toll with 84,898 and the ninth highest case number with 829,396. The UK had 43,245 deaths, the highest in Europe and the fifth in the world, and 657,459 cases.

To read: The second wave of coronavirus could delay Europe’s recovery: ECB president Lagarde

China, where the disease was first reported late last year, had 90,881 cases and 4,739 deaths, according to its official numbers.

What does the economy say?

The number of Americans filing for unemployment benefits in early October has risen to its highest level in seven weeks, possibly a sign that new coronavirus outbreaks in many states have damaged employment again, Jeffry Bartash reported. MarketWatch.

Initial jobless claims filed through state programs increased from 53,000 to 898,000 in the week ending October 10 from 845,000 revised the previous week, the Labor Department said Thursday. Economists interviewed by MarketWatch had predicted that new requests would drop to 825,000.

In addition, 372,891 unadjusted individuals filed new claims under the Pandemic Unemployment Assistance Act, the federal law that first allowed self-employed workers to benefit from benefits. This brought the number of actual or unadjusted new claims to an estimate of 1.26 million, a touch lower than the previous week.

However, there is a caveat. The number of new applications in California was frozen at 226,179 for the third consecutive week. The state stopped updating its figures three weeks ago after embarking on an effort to reduce a large backlog, eliminate duplicate claims, and eliminate fraud.

The state began accepting new jobless claims last week after a two-week hiatus, but is not yet reporting its totals to the U.S. Department of Labor. California typically accounts for nearly 20% of all new unemployment claims in the country, but is approaching 30% during the coronavirus pandemic.

Excluding the California estimate, the number of unadjusted unemployment claims in other states increased by 76,670, a worrying sign.

See also:Optimism among small businesses rises to the peak of the pandemic, NFIB says

“The latest data on new workers seeking unemployment insurance throws a dark cloud over the nation’s slow economic recovery,” said Andrew Chamberlain, chief economist at Glassdoor Economic Research. “The number of new compensation claims last week is more than four times higher than the rate of workers who filed for unemployment a year ago – a sign that COVID-19 continues to take a toll on the nation’s labor market.”

Separately, two regional indicators of US manufacturing sentiment moved in different directions in October, as reported by Greg Robb of MarketWatch.

The Philadelphia Fed manufacturing index climbed to a reading of 32.3 in October from 15 September. Economists were expecting a reading of 13.5. The Empire State Index, meanwhile, slowed to a reading of 10.5 in October, down from September 17, the New York Fed said. Economists were expecting a reading of 14.5, according to Econoday.

Any reading above zero indicates conditions of improvement.

What do companies say?

• Morgan Stanley
+ 1.34%

reported higher than expected third quarter earnings and revenues as financial markets remained active during the summer months despite the pandemic. Total revenues increased 16.2% to $ 11.66 billion, surpassing the FactSet consensus of $ 10.65 billion, as net interest income grew 22% to $ 1.49 billion, exceeding expectations of $ 1.20 billion. Across the business segments, investment banking revenues increased 11.2% to $ 1.71 billion, surpassing the FactSet consensus of $ 1.70 billion, and sales and trading revenues grew 20. 2% to $ 4.15 billion, exceeding expectations of $ 3.35 billion. Within sales and trading, equity revenues increased 13.4% to $ 2.26 billion, surpassing expectations of $ 2.19 billion, and fixed income revenues increased 34.5% to $ 1 , 92 billion, exceeding expectations by $ 1.59 billion.

• Tiffany & Co.
+ 2.20%

offered guidance for the fourth quarter, saying it expects a single-digit average percentage decline in sales over the prior-year period and a single-digit average percentage increase in operating earnings. The jewelry company expects earnings per share to increase by a percentage to a medium to high figure. The current FactSet consensus of $ 1.73 is a 3.6% increase from last year’s number. “While we still expect full-year results to be substantially affected by COVID-19, we are very pleased with the way activity rebounded after the first quarter and continues to rebound in the third quarter, especially in Mainland China, and for recover in the United States “, CEO Alessandro Bogliolo said in a statement. World sales fell slightly in the two months of August and September, while operating profits increased by about 25%. Despite a sharp decline in tourism in the US, three sales fell by a low double-digit percentage in the two months. “This represents a significant sequential improvement from May 2020 to the decline in US sales each month from the same month last year, and the company expects sales trends in the US to further improve in the fourth quarter, ”the statement said. Tiffany h more than $ 1 billion in cash and expects to have around $ 900 million by the end of the year.

• Walgreens Boots Alliance Inc.
+ 4.81%

reported a fiscal fourth quarter profit that fell less than expected, while revenues rose above expectations. For the U.S. retail pharmacy business, sales increased 3.6% to $ 27 billion, surpassing the FactSet consensus of $ 26.77 billion, as same-store sales increased 3.6. % and prescriptions filled increased by 1.6%. International retail pharmacy sales fell 14.9% to $ 2.3 billion, compared to expectations of $ 2.2 billion, and drug wholesale sales grew 4.3% to 6 billion dollars, exceeding expectations of 5.9 billion dollars. “While the company expects a gradual reduction in the impacts of COVID-19, the first half results will continue to have a negative impact compared to the first half of fiscal 2020 pre-COVID-19,” the company said in a statement. “However, for the second half, the company expects strong adjusted EPS growth as these effects subside and recovery plans take hold in key markets.”

• YogaWorks Inc.
+ 6.79%
a chain of international yoga studios and schools, filed for Chapter 11 bankruptcy, the latest victim of the pandemic. The company has entered into a stalking horse offering agreement with Serene Investment Management in which Serene will acquire YogaWorks’ digital and education business, as well as its intellectual property. Serene will also provide financing to the debtor in possession to support YogaWorks during bankruptcy, although the amount has not been disclosed. YogaWorks will continue to operate via its live streaming and on-demand platforms; all in-person studios are closed across the country due to COVID-19. YogaWorks has more than 40 live streaming lessons and more than 1,000 pre-recorded lessons and seminars. Employees will continue their work and will receive wages and benefits as usual.

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