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World IMF Sees Asia’s Pain Persisting; Fauci Warns: Virus Update

07:43  01 july  2020
07:43  01 july  2020 Source:   bloomberg.com

GOP Arizona lawmaker says Fauci and Birx 'undermine' Trump's coronavirus response

  GOP Arizona lawmaker says Fauci and Birx 'undermine' Trump's coronavirus response An Arizona Republican accused Anthony Fauci and Deborah Birx, two key members of the White House's coronavirus task force, of "undermining" President Trump's response to the virus during an interview Thursday.In a back-and-forth with Fox News's Neil Cavuto, Rep. Andy Biggs (R-Ariz.) called on Trump to remove the two from the task force, claiming that they were spreading "panic" with warnings about how the coronavirus pandemic could evolve, should Americans not follow public health guidelines."Birx and Fauci, they've gone well past their ... they've expired," Biggs told Cavuto."Their time of usefulness has expired.

IMF Sees Asia ’ s Pain Persisting ; Fauci Warns : Virus Update . Even with ample warning , German authorities failed to catch accounting issues at the digital-payments company. Slow decision-making, insufficient oversight and fragmented responsibilities created cracks that allowed the company’s

IMF Sees Asia ’ s Pain Persisting ; Fauci Warns : Virus Update . U.S. Senate Passes Extension of Small Business Loan Program. U.S. Cases Rise 1.2%; Worst Yet to Come, WHO Says: Virus Update June 29, 2020, 4:53 PM EDT.

(Bloomberg) -- Asia’s loss of economic output due to the deadly coronavirus will likely persist until 2022, according to the International Monetary Fund. Anthony Fauci, the U.S. government’s top infectious disease specialist, warned lawmakers that coronavirus infections in the U.S. could rise to 100,000 a day if behaviors don’t change.

a man that is standing in the snow: A doctor wearing protective gear goes through an air tight curtain while entering the Covid-19 intensive care unit (ICU) at the United Memorial Medical Center (UMMC) in Houston, Texas, U.S., on Monday, June 29, 2020. Covid-19 cases and hospitalizations have spiked since Texas reopened eight weeks ago, pushing intensive-care wards to full capacity and sparking concerns about a surge in fatalities as the contagion spreads. © Bloomberg A doctor wearing protective gear goes through an air tight curtain while entering the Covid-19 intensive care unit (ICU) at the United Memorial Medical Center (UMMC) in Houston, Texas, U.S., on Monday, June 29, 2020. Covid-19 cases and hospitalizations have spiked since Texas reopened eight weeks ago, pushing intensive-care wards to full capacity and sparking concerns about a surge in fatalities as the contagion spreads.

New South Wales, Australia’s most-populous state, said residents of 10 virus hotspots in neighboring Victoria would face six months in jail or a fine of A$11,000 if they attempt to cross the border. Japan is considering starting talks with China, South Korea and Taiwan as soon as this month to ease travel restrictions imposed to prevent the spread of coronavirus, Asahi reports, citing unidentified government officials.

Dr. Fauci to Protesters: 'Wear a Mask' (Video)

  Dr. Fauci to Protesters: 'Wear a Mask' (Video) Dr. Anthony Fauci says "the least" protesters "can do is to consistently wear a mask." The director of the National Institution of Allergy and Infectious Diseases and the public face of the White House's coronavirus task force spoke to Vice TV for an episode of "Shelter in Place" that premieres Thursday night. Congregating in a crowd, as protesters have been in the past month amid unrest over systemic racism, increases the risk of infection transmission, he said. Also read: CNN's Dr. Sanjay Gupta Calls Dr. Fauci's Low Profile a 'Loss for the Country' (Video) He went on, "This is particularly true if you don't wear a mask.

TOKYO (Reuters) - Asia ' s factory pain showed signs of easing in June, as a rebound in China's activity offered some Vietnam and Malaysia also saw their PMIs crawl back above the 50-mark separating growth from contraction, a welcome sign for policymakers struggling to combat the pandemic's fallout.

Asia . In fact, Fauci said Tuesday that the murderous impact of the virus was likely being undercounted. Trump' s use of the world "acceptable" in relation to Fauci ' s comments is instructive about how he sees subordinates in his administration.

Property markets in Singapore and Australia extended their downward trend amid the pandemic. Home prices in the city state fell for a second consecutive quarter after a two-month lockdown shut most of its economy, while Australian prices fell for a second straight month in June.

Key Developments:

Global Tracker: Global Cases 10.4 Million; Deaths 509,779How do people catch Covid-19? What experts say: QuickTakeTrump’s Surgeon General Says ‘Please, Please, Please’ Wear MaskAirlines risk extinction as India refuses to rescue billionairesU.S. states beg, borrow and cut to close massive budget gapsReopened Los Angeles sleepwalks into resurgent pandemic

Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus.

Texas lt. governor hits Fauci: 'He doesn't know what he's talking about'

  Texas lt. governor hits Fauci: 'He doesn't know what he's talking about' Texas Lt. Gov. Dan Patrick (R) on Tuesday lambasted Anthony Fauci over his assessment of the recent surge in coronavirus cases in the U.S., claiming that his state did not need advice from the nation's top infectious disease expert. "Fauci said that he's concerned about states like Texas that skipped over certain things. He doesn't know what he's talking about," Patrick said on Fox News after Fauci testified before a Senate committee about the U.S. response to the coronavirus outbreak. "We haven't skipped over anything.""The only thing I'm skipping over is listening to him," Patrick added. "He has been wrong every time, on every issue.

Dr. Anthony Fauci and other top health officials will speak about the virus , which is surging in at Coronavirus Live Updates : Dr. Fauci to Testify Before Congress Again. Dr. Anthony Fauci and other top The Paycheck Protection Program is ending with money to spare. California sees its case count

The funding needs persist despite the IMF approving debt-service relief for 21 sub-Saharan African countries for an initial six-month phase ending mid-October and California Hospitalizations at Record; Fauci Warns : Virus Update . Fauci Says U. S . Could See 100,000 New Cases a Day If No Change.

Airbus Begins Biggest Restructuring With 15,000 Jobs to Go (11:03 a.m. HK)

Airbus SE embarked on the most extensive restructuring in its history, setting out plans to cut 15,000 civil-aerospace jobs worldwide as it attempts to steer through the crisis brought on by the coronavirus pandemic.

The European manufacturer will eliminate more than 10,000 positions across its main bases in Germany and France, part of an 11% reduction in global headcount, according to a statementon Tuesday. Chief Executive Officer Guillaume Faury has said the company’s output will be 40% lower than expected for two years due to a dramatic slump in demand for aircraft, and has previously warned it is bleeding cash.

“The crisis the aviation sector is facing will be of a length and magnitude that calls for more structural and wide-ranging actions,” the CEO said in a video message. “We need to act now by adapting our workforce to reflect the new situation.”

Head of Chancellor's Office: Don't get too carefree at Corona

 Head of Chancellor's Office: Don't get too carefree at Corona After the recent Corona outbreaks in the Gütersloh district, Chancellor's Office chief Helge Braun warns of caution. "These larger outbreaks have now shown that the moment you give the virus a chance, it strikes again," says the CDU politician on the ZDF program "Markus Lanz". © Photo: Kay Nietfeld / dpa "These larger outbreaks have now shown that the moment you give the virus a chance, it strikes again," says Helge Braun.

Coronavirus updates : Fauci says new cases could hit 100,000 daily; new 'pandemic An individual has tested positive for the COVID-19 virus in a sprawling refugee camp on the U. S .-Mexico border The nonprofit group has long warned that a single case of the coronavirus could spread quickly.

Many countries in Asia and Europe have succeeded in controlling the pandemic with strong, coordinated government responses marked by With the virus on the rise in most U. S . states, the European Union has excluded the United States from its initial “safe list” of countries from which the

Singapore PM Says Country Has Controlled Spread of Virus (10:49 a.m. HK)

Singapore has controlled the spread of the coronavirus and kept fatality rates low, the country’s Prime Minister Lee Hsien Loong says in a letter posted to his Facebook page. “We fought hard over the past few months to manage the health crisis,” says Lee, speaking in his capacity as secretary-general of the People’s Action Party. “Thanks to the efforts of our healthcareprofessionals and your cooperation, we have controlled the spread of the virus and kept fatality rates low.”

Singapore is still recording more than 200 new cases of the coronavirus a day, with its overall tally at 43,907 infections, the second-highest in Southeast Asia. The country was criticized for not tackling an outbreak among migrant workers quickly enough, which saw authorities impose a stricter lockdown in place of a more open original strategy.

IMF Sees Asia’s Pain Persisting as Virus Curbs Limit Recovery (09:58 a.m. HK)

Asia’s loss of economic output due to the deadly coronavirus will likely persist until 2022, according to the International Monetary Fund.

Florida reports record number of coronavirus cases amid nationwide surge

  Florida reports record number of coronavirus cases amid nationwide surge Health experts fear coronavirus cases will continue to climb after the July 4 weekend. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said earlier this week he would "not be surprised" if the U.S. eventually began to see 100,000 new cases per day.Governors in other coronavirus hotspots, like California and Texas, scrambled to reimpose restrictions on bars and indoor restaurant seating ahead of the holiday weekend. Texas Gov. Greg Abbott, who had long opposed a statewide mask mandate, ordered people in Texas to wear masks in most public places on Thursday.

Anthony Fauci testifies on reopenings, Los Angeles closings could impact sports. Fauci warned relying on that prospect was "a bridge too far." The AAPCC' s National Poison Data System, which scrapes information from poison control centers across the nation, saw a spike of 122% in reported

Spread of Coronavirus Has Slowed in Asia . “No one knows whether the virus will disappear ultimately, or will it persist like flu and become prevalent intermittently, or will He called for serological testing -- which identifies anti-bodies in a patient’ s blood to see if they’ve been exposed to the virus

The assessment is a warning about the prospects for a global recovery after the pandemic tipped the world economy into its worst collapse since the Great Depression. The Asia region contributed about 68% of global growth in 2019, according to the IMF.

While regional growth is tipped to rebound to 6.6% next year, that won’t be enough to replace all of the output lost due to the crisis.

Goldman Estimates 40% of U.S. Has Reversed Reopening; Google Delays U.S. Office Reopening; (09:51 a.m. HK)

More than 40% of the U.S. has now reversed or halted economic re-opening moves, after steps taken across the Sun Belt in recent days, according to estimates by Goldman Sachs Group Inc. economists. The bank also calculated that the share of the population in states where policies are getting more restrictive up to 30% over five days.

“With case growth still accelerating nationwide, states are likely to continue to take further targeted measures to attempt to mitigate virus spread and maintain available healthcare capacity at sustainable levels,” Goldman analysts including Jan Hatzius, Alec Phillips and Blake Taylor wrote in a June 30 note.

Google is pushing back a plan to reopen its U.S. offices after coronavirus cases surged in several western and southern states. All U.S. offices will remain closed until Sept. 7 at the earliest, according to a memo Google sent to employees. In May, Chief Executive Officer Sundar Pichai said the company would cautiously move some workers back in starting July 6.

PGA ramps up testing, warns of 'serious repercussions' for defying protocols

  PGA ramps up testing, warns of 'serious repercussions' for defying protocols PGA Tour commissioner Jay Monahan is pledging to enforce stricter safety measures in the wake of multiple positive coronavirus tests and a handful of withdrawals from this week's Travelers Championship. "We all need to remind ourselves that we're all learning to live with this virus," Monahan said Wednesday, according to PGATour.com's Mike McAllister. "It's pretty clear that this virus isn't going anywhere." The Tour is instituting several new protocols, including nasal swab testing on arrival for those using the Tour-sanctioned charter, as well as a pre-charter test. Player instructors will also now be tested in the "bubble.

South Korea Reports 51 New Cases; Starts to Use Remdesivir (09:18 a.m. HK)

South Korea confirms 51 more cases Wednesday, bringing the total number of cases in the country to 12,850. The South Korean government will start supply of Remdesivir to local hospitals on July 1 after signing import contract with Gilead Sciences Korea, the nation’s Centers for Disease Control & Prevention said in an emailed statement. The use of the drug will be limited to patients in serious conditions, it added.

Singapore, Australia Home Prices Fall as Shutdown Hits Property Market (09:04 a.m. HK)

Singapore home prices fell for a second consecutive quarter after a two-month lockdown shut most of the economy and put the brakes on the real-estate market. Property values declined 1.1% in the three months ended June 30, according to a preliminary estimate from the Urban Redevelopment Authority released Wednesday. In the first quarter, prices dropped 1%.

Australian house prices fell for a second straight month in June, as the coronavirus shutdowns continue to weigh on the property market. Home values in major cities fell 0.8% last month, accelerating from a 0.5% decline in May, according to CoreLogic Inc. data released Wednesday. The slide was led by Melbourne and Perth, where prices dropped 1.1%. In Sydney, prices fell 0.8%.

Australian State Shuts Border to Virus Hotspot Residents (08:56 a.m. HK)

New South Wales, Australia’s most-populous state, said residents of 10 virus hotspots in neighboring Victoria would face six months in jail or a fine of A$11,000 if they attempt to cross the border.

China warns risk of naval incident with US on the rise

  China warns risk of naval incident with US on the rise The US military is deploying "unprecedented" numbers to the Asia-Pacific region, raising the risk of an incident with China's navy, a senior Chinese official said Tuesday. Tensions between the two superpowers have soared on multiple fronts since President Donald Trump took office in 2017, with both countries flexing their diplomatic and military muscle.

The 10 areas of Melbourne go into lockdown shortly before midnight as authorities attempt to crush a spike in coronavirus infections. Victoria state has experienced two weeks of double-digit increases in new Covid-19 cases after social distancing restrictions were eased, jeopardizing its economic recovery and prompting other states to delay plans to open their borders.

Mexico Cases Jump; Aeromexico Files for Chapter 11 (08:19 a.m. HK)

Mexico reported 5,432 new confirmed Covid-19 cases, bringing the total 226,089, according to data released by the Health Ministry. Deaths rose 648 to 27,769.

Grupo Aeromexico SAB, Mexico’s second-largest airline, said it filed for bankruptcy in the U.S., becoming the latest in a string of Latin American carriers to seek court protection after the Covid-19 pandemic caused a severe downturn in travel.

The carrier will “continue operating and use Chapter 11 as a way to strengthen its financial position and liquidity,” according to a statement to the Mexican stock exchange Tuesday. Aeromexico said the goal will be “protecting and preserving its operations and assets and implementing the necessary operational adjustments to face Covid-19-related impact.”

Japan Eyes Easing China, South Korea Travel Restrictions: Asahi (07:17 a.m. HK)

The Japanese government is considering starting talks with China, South Korea and Taiwan as soon as this month to ease travel restrictions imposed to prevent the spread of coronavirus, Asahi reports, citing unidentified government officials.

Fauci tells House committee he's 'cautiously optimistic' about progress made on coronavirus vaccine

  Fauci tells House committee he's 'cautiously optimistic' about progress made on coronavirus vaccine Dr. Anthony Fauci is among those who are scheduled to testify before House lawmakers on Tuesday about the Trump administration's coroanvirus response.Fauci said there were a number of promising vaccines in development and that it's about "when and not if" they get positive results. He reiterated his hope that a vaccine could be made available by the end of 2020 or early 2021.

Japan plans to prioritize business travelers and then open borders to students, while tourists will be the last to be allowed entry, the report says.

U.K. Bounceback Hopes Weakened as Firms See Record Sales Slump (07:01 a.m. HK)

Hopes of a swift recovery for the U.K. economy could be dashed, according to a survey that revealed the parlous state of Britain’s businesses.

Measures of sales, orders and cashflow in the nation’s dominant services sector have plunged by the most in the 31-year history of the British Chambers of Commerce’s quarterly survey. Demand for goods from manufacturers also dropped in the three months through June, with sentiment in the industry sliding to the weakest level since the financial crisis.

The findings add weight to concerns the economy will struggle to rebound quickly from the pandemic.

Trump Says He’s ‘More and More Angry at China’ Over Pandemic (06:56 a.m. HK)

“As I watch the Pandemic spread its ugly face all across the world, including the tremendous damage it has done to the USA, I become more and more angry at China,” President Trump says in Twitter post.

“People can see it, and I can feel it!”, Trump says.

Iran to Lock Down Gulf Trade Hub (6:28 a.m. HK)

Iran will reintroduce lockdown measures on one of its busiest port cities on the Persian Gulf following a surge in cases.

Bandar Abbas, the capital of Hormuzgan province and a major trade hub on the Strait of Hormuz, is one of seven cities that will be closed for one week from Friday, Fereydoun Hemmati, the provincial governor told reporters, the semi-official Iranian Students’ News Agency reported.

The islands of Kish and Qeshm, which are major tourist attractions, will also face the measures, Hemmati said, adding that the lockdown will involve the closure of all schools, universities, most offices, cinemas, coffee shops, restaurants, public pools, gyms and parks.

U.S. Cases Rise by More Than 48,000 (4 p.m. NY)

Coronavirus cases in the U.S. increased by 48,096 to 2.61 million as compared with the same time yesterday, according to data collected by Johns Hopkins University and Bloomberg News. The 1.9% gain was above the average daily increase of 1.6% over the past week. Deaths rose 0.5% to 126,512.

Texas posted its worst day yet for new cases, with 6,975 positive tests that pushed to total to 159,986, according to state health department figures. The 4.6% increase exceeded the seven-day average of 4.2%.Florida reported 152,434 cases, up 4.2% from a day earlier, compared with an average increase of 5.6% in the previous seven days. Deaths rose 1.7% to 3,505.Arizona reported 4,682 new cases, a 6.3% increase, bringing the total to 79,215. The state also reported 44 new deaths, marking a total of 1,632.California reported 6,367 new cases, its second-biggest daily jump, for a total of 222,917, according to state data. The 2.9% increase exceeded the seven-day average of a 2.8% gain. Deaths climbed by 0.7%, or 44, to 5,980.

Biden Rips Trump for Pandemic Response (3:30 p.m. NY)

Joe Biden assailed Donald Trump’s handling of the coronavirus pandemic on Tuesday, arguing the president has failed to protect Americans and exacerbated a crisis that other countries have managed to control.

Biden, the Democratic nominee, laid out his plan to fight the virus and safely reopen the economy, and he urged Trump to adopt his proposals. The moment, he said, required the president to lead and move beyond politics.

“Mr. President -- the crisis is real -- and it’s surging,” Biden said. “Promises and predictions and wishful thinking pulled out of thin air are not only doing this country nogood, it’s making them lose more faith in their government.”

FDA Issues Vaccine Guidance (11:45 a.m. NY)

The Food and Drug Administration issued guidance on how it would assess vaccine candidates, saying it would only allow ones that are at least 50% more effective than a placebo.

“The American people should know that we have not lost sight of our responsibility to maintain our regulatory independence and ensure that our decisions related to all medical products, including those related to Covid-19 vaccines, are based on sound science and the available data,” FDA Commissioner Stephen Hahn told the Senate health committee on Tuesday.

Infectious-disease expert Anthony Fauci also told the panel that he’s “aspirationally hopeful” that a vaccine for Covid-19 will be ready in early 2021.

N.Y. Doubles Quarantine Travel Advisory (11:30 a.m. NY)

New York Governor Andrew Cuomo announced that travelers from eight additional states, including California, will be required to quarantine for 14 days when traveling to New York.

California, Georgia, Iowa, Idaho, Louisiana, Mississippi, Nevada and Tennessee now meet metrics to qualify for a travel advisory, Cuomo said. There are 16 total states on the travel advisory

The quarantine applies to any person arriving from a state with a positive test rate higher than 10 per 100,000 residents over a seven-day rolling average or a state with a 10% or higher positivity rate over a seven-day rolling average.

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.


Video: Taiwan's real GDP to contract by roughly 2% on annual average from virus impact: EIU (CNBC)

Fauci tells House committee he's 'cautiously optimistic' about progress made on coronavirus vaccine .
Dr. Anthony Fauci is among those who are scheduled to testify before House lawmakers on Tuesday about the Trump administration's coroanvirus response.Fauci said there were a number of promising vaccines in development and that it's about "when and not if" they get positive results. He reiterated his hope that a vaccine could be made available by the end of 2020 or early 2021.

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