Coronavirus update: worldwide case number exceeds 4.28 million, while Russia sees increased cases, Brazil and Mexico suffer the deadliest day
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The global number of COVID-19 cases reached more than 4.28 million on Wednesday, as Russia recorded 10,000 more infections and Brazil and Mexico had their deadliest day since the start of the pandemic.
Mexico recorded 353 deaths and confirmed 1,997 new cases over a 24-hour period, disappointing hopes after a lower count earlier in the week that the disease was under control.
Other countries that have been the first to lift the blockades after strict measures have successfully contained the spread have also reported new cases. South Korea is still working to contact people infected with nightclubs during a recent epidemic in the capital Seoul, and the Chinese city of Jilin has been closed to contain a new set of cases, as reported by Agence France-Presse.
A leak from the White House Coronavirus Task Force report showed that some rural areas in the United States have experienced an increase of more than 1,000% in infections within a week, NBC News reported. President Donald Trump said on Monday that cases were dropping "very quickly" across the country, but the report shows that the top 10 areas experienced a sudden increase of 72.4% or more over a seven-day period compared to last week.
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A set of tables used by the task force to track the spread shows spikes in Nashville, Tennessee; Des Moines, Iowa; Amarillo, Texas; and – at the top of the list, with a 650% increase – Central City, Kentucky, according to the report. The report has not been made public.
The charts show that the pandemic is spreading outside the regions that were the first hotspots, even in states that have never imposed restrictions on home care or are now lobbying to get them. relax, as Trump has repeatedly urged them to do.
Do not get lost:States begin to reopen, ending coronavirus blockages: as parts of New York State prepare to take their first steps, Broadway theaters will be closed all summer
Dr. Anthony Fauci, director of the National Institute of Allergies and Infectious Diseases, warned a Senate committee hearing Tuesday of the risks and dangers of reopening the U.S. economy too quickly. Fauci also said the number of deaths from the disease is likely higher than the official figure given the lack of evidence and warned of assumptions such as believing that children are immune.
See also: Dr. Anthony Fauci responds to Rand Paul's rebuke: "I give advice based on the best scientific evidence"
Latest accounts
Now, there are 292,619 deaths from COVID-19, according to data added by Johns Hopkins University.
The United States has the highest number of cases with 1.37 million and the highest number of deaths with 82,461.
Russia has overtaken Spain in number of cases after a further increase in infections. Russia has 242,271 cases and 2,212 deaths. Spain has 228,030 and 26,920 deaths.
The UK has 227,741 cases and 33,263 deaths, the highest number of deaths in Europe.
Italy has 221,216 cases and 30,911 deaths. France has 178,349 cases and 26,994 deaths.
Brazil overtook Germany by the number of cases with 178,214 cases and 12,461 deaths. Germany has 173,369 cases and 7,780 deaths. Turkey has 141,475 cases and 3,894 deaths. Iran has 112,725 cases and 6,783 deaths. China, where the disease was first reported at the end of last year, has 84,021 cases and 4,637 deaths.
New York remains the epicenter of the United States. USA With 343,705 cases and 27,284 deaths, according to a New York Times tracker.
Four states, Illinois, Florida, Connecticut and Pennsylvania, accounted for most of the increase in cases in the United States overnight, but cases increased in nine states in the Together, according to the data.
What are the latest medical news?
Gilead Sciences Inc.
BROWN,
He appointed five manufacturers of generic drugs that will produce remdesivir, his experimental treatment COVID-19. Non-exclusive voluntary license agreements are made with Cipla Ltd.
500087,
Ferozsons Laboratories Ltd.
FIERCE
Hetero Labs Ltd., Jubilant Life Sciences Ltd.
530019,
and Mylan NV
MY I,
manufactures remdesivir in 127 countries.
In the United States, the Food and Drug Administration recently issued emergency clearance for remdesivir. USA As a treatment for critically ill patients with COVID-19; It has also been approved in Japan. No country is a party to these manufacturing agreements. China, where the virus was first detected in 2019, is also not listed.
Gilead said the licenses will be considered royalty free until two things happen: the World Health Organization raises its declaration of international public health problem, or a another drug or vaccine is approved.
The Federal Emergency Management Agency [FEMA] has canceled a $ 55.5 million contract for respiratory masks with a small Virginia company that had no experience in the mask business and a father who was in the business bankruptcy, reported the Associated Press.
The no offer contract, with Panthera Worldwide LLC, was one of the largest orders for masks signed by FMEA when it struggled to find masks and other personal protective equipment during the pandemic.
A FEMA spokesperson said the contract for 10 million N95 masks had been canceled on Tuesday "for lack of delivery". FEMA has declared that it will not pay Panthera before the delivery of the masks.
The two Panthera owners have been charged with fraud in lawsuits by business partners, which the owners deny, and both filed IRS tax liens against them in 2018 for alleged unpaid taxes, The Wall Street Journal reported last month.
What does the economy say?
The wholesale price of American goods and services. USA It fell 1.3% in April, the largest drop ever, while the coronavirus reduced the economy and demand, according to Jeffry Bartash of MarketWatch.
This is the third consecutive and largest drop since the government reconfigured its wholesale report in 2009 to include services such as finance and health care. Economists polled by MarketWatch had forecast a drop of 0.5%.
The wholesale inflation rate in the past year has also turned negative for the first time since 2015, falling to 1.2% in April after a slight increase in March, the government announced on Wednesday.
Much of the decline is due to the drop in oil prices against a backdrop of oversupply, with drivers staying at home.
"The core PPI will not continue to fall at this rate, but the virus will continue to be a lasting deflationary shock long after the initial blow of the shutdown has been largely reversed," said the economist. chef Ian Shepherdson of Pantheon Macroeconomics.
Watch:Three impressive graphs of UK GDP, including growing demand for toilet paper
What are companies saying?
Tesla Inc.
TSLA,
CEO Elon Musk appears to have progressed in his battle with a county in California for permission to reopen the Fremont plant. Alameda County officials said they have revised their specific safety plan for the plant site and if it meets additional recommendations, and that public health indicators remain stable or 39 improve, the factory could reopen as early as next week. .
Musk has already reopened the plant and even tweeted that if local authorities want to arrest someone for breaking the shutdown rules, it should be him. The factory, which employs 10,000 people, has been closed since March 23. Musk complained that the county was not going as fast as the state to ease the restrictions.
Watch:Tesla plant in California reopens despite shutdown order, Elon Musk dares county to shut it down
Uber Technologies Inc.
UBER
merger talks with Grubhub Inc.
FOOD,
On Tuesday, a congressman called them "a new low level of income in the event of a pandemic", and that is just one problem that could thwart a potential mix of food delivery companies, like the Therese Poletti of MarketWatch writes.
A few hours later a Wall Street Journal report
As talks revealed, representative David Cicilline, a Rhode Island Democrat, reached the deal, which is backed by Wall Street.
"Uber is a notoriously predatory company that has long denied its drivers a decent salary. Its attempt to acquire Grubhub, which is used to operating local restaurants through deceptive tactics and exorbitant fees , marks a new low in the pandemic of lost profits, "said Cicillin, who is also chair of the House's antitrust subcommittee, it is a statement.
Elsewhere, a wave of bond offerings was announced Wednesday morning as companies try to increase their cash flow and save money during the pandemic.
Here are the latest things companies said about COVID-19:
• Boyd Gaming Corp.
BYD
is offering $ 500 million of senior notes due in 2025 in a private placement. The Las Vegas-based company will use the product for general business purposes, including working capital. Many American companies are currently issuing bonds or taking advantage of credit lines to increase liquidity during the pandemic.
• Becton Dickinson & Co.
BDX,
it offers $ 1.5 billion in 10- and 30-year notes as the medical technology company seeks to pay $ 1 billion in debt owed this year. Offers include $ 750 million in 2,823% notes due in 2030 and $ 750 million in 3,794% notes due in 2050. This compares to the yield on the 10-year Treasury bond at 0.678%. and the yield on the 30-year Treasury bond of 1,381%. The company said it plans to use the proceeds and available cash to pay the billion dollars in 2.404% notes due in 2020 and to finance a partial reimbursement of its 3.250% notes, also due this year.
• The Container Store Group Inc.
TCS
Anticipates tax sales of $ 241.3 million in the fourth quarter, down 4.7% from a year ago, largely due to the pandemic. Sales from the same store are expected to drop 3.6%. The quarter followed the company's "expectations" until the last weeks of the period, when store closings and other business disruptions began. Analysts polled by FactSet forecast sales of around $ 250 million in the fourth quarter. The retailer is expected to release a full fourth quarter image next week. The container store had a cash balance of approximately $ 67.8 million at the end of March. Total debt, net of deferred finance charges, was $ 333.5 million and liquidity was $ 96.4 million at the end of the quarter.
• DraftKings Inc.
DKNG
Shares fell after reports that famed investor George Soros owns 2.7 million Class A shares via an investment vehicle called Quantum Partners. DraftKings disclosed the warrant in a file filed with the Securities and Exchange Commission last week. Other investors include Walt Disney Co.
DIS
which operates the EPSN sports channel and the National Hockey League.
• Network company Infinera Corp.
INFN,
reports higher than expected quarterly losses during a pandemic. Infinera, which primarily sells network equipment to telecommunications companies, reported a loss of $ 99.3 million in the first quarter, or 55 cents per share, on sales of $ 330.3 million, compared with 292, $ 7 million a year ago. After eliminating certain costs, some of which related to COVID-19, the company claimed a loss of 27 cents per share, worse than a loss of 23 cents per share in the same quarter the previous year. Analysts had forecast an adjusted loss of 18 cents per share on sales of $ 318.3 million, after Infinera targeted adjusted losses of 15 cents to 21 cents per share. Infinera guided second quarter sales from $ 309 million to $ 329 million with negative operating margins.
• Live Nation Entertainment Inc.
LYV
It plans to issue $ 800 million of secured senior notes due in 2027 as part of a private agreement. The ticket company said it would use the product for general purposes.
• Plug Power Inc.
PLUG,
is offering $ 200 million of senior convertible notes due in 2025 in a private placement. The proceeds of the agreement will be used to finance limited purchase transactions that seek to minimize dilution once the bonds are converted to stocks, and for "eligible green projects," said the maker of hydrogen and fuel cell technologies. The Notes will be convertible into cash, common shares or a combination, at the discretion of Plug Power.
• Potbelly Corp.
PBPB,
posted a larger quarterly loss and sales below Wall Street expectations, although its delivery, direct sales and takeout sales increased 45% in April. "In short, the pandemic has halted the strong momentum for change that we launched in the fourth quarter of last year," said general manager Alan Johnson. "We understand that the challenges will persist over the next few months and we are taking the necessary steps to support and strengthen our business." Potbelly cut its line of credit by $ 40 million and cut costs and expenses, she said. It is negotiating with the owners and plans to close up to 100 stores, the company said.
• Royal Caribbean Cruises Ltd.
RCL
launched a private offering of $ 3.3 billion of senior secured notes due in 2023 and 2025. The notes will be backed by 28 of its vessels and its intellectual property. The company plans to use the proceeds from the placement to repay its $ 2.35 billion, 364-day, term loan contract, which was released on March 23. The rest of the funds will be used for general business purposes, which could include the repayment of other debts.
• Twitter Inc.
TWTR,
Nearly 5,000 employees can work from home whenever they want, while the San Francisco-based company rethinks operations in the COVID-19 era. Twitter CEO Jack Dorsey told employees on Tuesday that most of them would be allowed to continue working from home even after the global health crisis hit. Those returning to the office will only be able to do so at least in September, and all travel will be severely curtailed, added Dorsey.
• Uber Technologies Inc. and Grubhub Inc. cannot agree on a price the trucking company would pay to acquire the food delivery business, according to a CNBC report. CNBC said Uber had rejected a share offer. The previous Tuesday, the Wall Street Journal announced that Grubhub had proposed an agreement in which its investors would have received 2.15 Uber shares for each Grubhub share, valuing the company at around $ 6.25 billion. The Journal also said that the board of directors of Uber should examine the proposal in the "next few days".
• Walt Disney Co. has revealed the maturities of a six-part bond contract that the media and theme park company announced plans for earlier this week |, with maturities ranging from six to 40 years. The $ 11 billion offering includes $ 1.5 billion, 1.75% of notes maturing in 2026; $ 1 billion, 2.20% of the notes payable in 2028; $ 2.5 billion, 2.65% of the bills payable in 2031; $ 1.75 billion, 3.50% of banknotes due in 2040; 2.75 billion dollars, 3.60% of the bills payable in 2051; and $ 1.5 billion 3.80% notes due 2060. Disney's long-term credit is rated A- in S&P Global Ratings. Disney plans to use the proceeds of the debt offering for general purposes, including paying down the debt due in June 2020.
This is how the global supply chain may change after COVID-19