The Czech player completely stopped Ash Barty's momentum. Source: Channel Nine/WWOS
The Labor Department's closely watched employment report on Friday will, however, also offer a reminder that as the United States enters the second year of the coronavirus pandemic the recovery remains excruciatingly slow, with millions of Americans experiencing long spells of joblessness and permanent unemployment. Federal Reserve Chair Jerome Powell on Thursday offered an optimistic view of the labor market, but cautioned a return to full employment this year was "highly unlikely." "We will probably see more people having gone back on payrolls," said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles.
Dallas, Texas, March 05, 2021 (GLOBE NEWSWIRE) -- Ian C Denholm ProPetro leader revealed aspects of his colorful career in a recent exclusive interview with Bloomberg. Visionary, entrepreneur, CEO, and Co-Founder of Conquistador Capital, he joined other best-selling authors and business leaders in the Leader Roundtable Interview Series with the DotCom Magazine editorial staff. The interview covered a wide range of subjects -- from Denholm's business philosophy to how Denholm leads by focusing on innovative business solutions that he supplies directly to company clients. Denholm feels that it's critical to start off with a clear concept and an organized business plan. That helps ae when it comes time to make critical resource allocation, and a clear blueprint takes away much of the guesswork when deciding where to spend money and where to cut the fat. Differentiation Is Critical Denholm believes that his companies differentiate themselves from others by not focusing exclusively on profits. ESG, or environmental, social, and governance issues, must be factored into business strategies to ensure a sustainable profit and inspire customer loyalty to the brand. Becoming sustainable stewards of the planet's resources becomes the very definition of ecology and best business practices. Working hand-in-glove with local, state, and federal authorities on drilling strategy, drilling sustainable wells, and recovering the earth's resources efficiently sets any company up for sustained success. Instead of chasing down leads, companies come to Ian C Denholm Midland Texas with strong proposals and questions about how to develop the resources in an environmentally acceptable way. Staff Your Company with Successful, Passionate People Denholm's most important advice is to staff your company with dreamers and visionaries who also have the skills to implement their dreams. You can cut out the external noise and focus on achieving results quickly. When you remove obstacles to success -- such as timid responses, fear of commercializing your ideas, and company infighting -- our ideas are easier to develop. It's important to have supportive families and friends because new ventures will take most of your spare time. Avoid distractions, except those that you plan, and push forward to achieve the results that you know are possible. That doesn't mean you can't set aside some personal time, but you have to devote most of your time to get an innovative project off the ground. Maintaining Focus There will inevitably be false trials, intriguing sidelines to explore, political issues, and the need to publicize your ideas in trade journals, social media, etc. You'll lose some productivity by pursuing unworkable strategies and avenues that you aren't currently equipped to handle. The important thing is to remain laser-focused on your core concept that started the whole process. When things grow too complex, don't be afraid to return to your original plans after toying with intriguing alternatives. Keeping Informed One important piece of advice that Ian C Denholm ProPetro endorses is keeping informed about news and political and industry developments. You can scan short articles on apps or you can also listen to audio files and podcasts while commuting or traveling to keep informed. It's important to approach every internal meeting with an open mind. Listen to your team's ideas because they rank among the most capable and knowledgeable resources because you hand-picked them for these qualities. About ProPetro Holding Corporation ProPetro and Ian C. Denholm work as a holding company that facilitates the work of its subsidiaries that offer well drilling, cementing, and coiled tubing services for customers In North America. CONTACT: contact@denholm.com
Steinhausen, March 5, 2021 – Schweiter Technologies posted a record-high result amid challenging market conditions. Despite the COVID-19 pandemic and negative currency effects, the Group posted sales of CHF 1,160.2 million in 2020, which was only slightly lower than the previous year's CHF 1,179.6 million (-2%). In local currencies, sales were +3% higher versus 2019. Group EBITDA improved by a staggering +43% compared with the previous year (+49% in local currencies), reaching a new record high of CHF 175.7 million. The return on net sales rose by close to 5 %-points to 15.1%. EBIT also rose faster than sales to CHF 137.6 million (previous year: CHF 85.2 million), while net income increased to CHF 103.5 million (previous year: CHF 60.0 million). Operating cash flow came to about CHF 158 million, equivalent to a year-on-year increase of more than 51%. Cash and cash equivalents rose to around CHF 164 million following a dividend distribution of approximately CHF 57 million. At the General Meeting on April 1, 2021, the Board of Directors will propose paying a dividend of CHF 40 per bearer share and to elect two new independent members of the Board of Directors. A change at the top of the management board is also planned for 2022. The 2020 Annual Report and the investor presentation can be downloaded from: http://www.schweiter.ch/s1a200/investoren/geschaftsberichte-prasentationen.html Key figuresSchweiter Technologies Group (in CHF m) 2020 2019 + / - Net revenues 1,160.2 1,179.6 -2%EBITDA 175.7 123.1 +43% as a % of net revenues 15.1% 10.4% EBIT 137.6 85.2 +61%Net income 103.5 60.0 +73% Business performanceIn a year dominated by the COVID-19 pandemic, the diversification of Schweiter Technologies proved to be a strength. While some market segments and geographies were affected by the lockdown measures and had to cope with a steep fall in demand, the European display business in particular, with its variety of clear sheet products, and the Core Materials business for the wind energy sector benefited from firm demand.The Group responded promptly to the pandemic in order to ensure that production continued uninterrupted while protecting the health of its employees. In particular, production at sites that manufacture transparent sheets for protection against infection were operating at the limits of capacity. Moreover, demand from wind energy customers picked up appreciably following a strong performance the previous year.A flexible response at production sites with lower capacity utilization coupled with lower raw material costs and selective price adjustments produced a disproportionately large increase in profitability and a record-high result. DisplayThe European display business was marked by two contrasting trends. On the one hand, clear sheet production was running at full capacity, and the company took a number of measures so as to be able to meet the exceptionally high demand for transparent sheets. On the other hand, display revenues in the areas of advertising, trade fairs and interior design plummeted between March and September. The US display business also suffered a massive downturn in demand in these areas. The integration and restructuring of the foamboard business of Newell Brands Inc., acquired in September, was set in motion successfully as planned. The acquisition will contribute to the Group's profit growth as of the coming year.Growth in profitability clearly outpaced sales growth owing to falling raw material prices, high capacity utilization in clear sheet production, a temporary reduction in production capacity plus strict cost discipline at all sites. ArchitectureThe Architecture segment produced very mixed results in regional terms. While sales in the USA increased further following a strong performance the previous year, the European and Asian businesses fell short of the 2019 levels.The construction sector in Europe showed wide differences from country to country. Construction projects in Central Europe, primarily Germany, continued virtually unabated, whereas construction activity in some core markets such as France, the United Kingdom, and southern Europe came to a complete standstill at times owing to the pandemic. On top of this, the ongoing uncertainties surrounding Brexit had a negative impact on demand in the UK.Construction in Asia was also very mixed regionally, impacted by project delays and building freezes. In China, the construction business practically came to a standstill in the first quarter but then recovered gradually, reaching gratifying levels by the fourth quarter. The markets in India and the Middle East felt the impact of the pandemic with a certain time lag.The US construction industry was also hit by temporary lockdown measures, but nevertheless managed to gain market share and post further sales growth despite the pandemic-related challenges. Amid challenging market conditions, sales continued to rise, driven by the strategic expansion of the customer base, an ever improving service level, and intensified consulting services for technical applications. Core MaterialsThe Core Materials segment maintained the previous year's strong momentum despite COVID-19-related challenges, posting double-digit revenue growth. In particular, the ongoing firm demand for core materials for the wind energy sector was a key factor in the steep sales gains and resulted in very high capacity utilization at the production sites and disproportionately high profit growth.In regional terms, China again reported the strongest sales growth following significant increases the previous year. Demand from wind customers in the USA and Europe also trended strongly. Moreover, sales in the US marine market outpaced the previous year as of the second quarter, whereas revenues in the European Non-wind area were lower year-on-year.3A Composites has a great competitive advantage since it covers the entire value chain in the balsa business, from seedlings to its own FSC®-certified plantations in Ecuador and Papua New Guinea and right up to the finished products. This makes the business less exposed to rising raw material prices and moreover ensures reliable delivery of balsa products to its customers.A new PET production facility in China started the production at the end of 2020 in order to be closer to Asian customers and to be better able to meet the steeply rising demand. Transport & IndustryAfter the most successful year in its history to date, the Mobility segment reported a double-digit decline in its sales revenue.The Road Vehicles business was particularly hard hit by the current crisis because the component market for coaches collapsed almost completely as of the second quarter and did not stage any significant recovery for the rest of the year.Sales revenue in the Rail business also fell short of the previous year, although the decline in this area was not nearly as steep.Despite numerous adverse circumstances, the segment managed to turn in a satisfactory profit by promptly adjusting capacity and imposing strict cost management. Outlook3A Composites has gotten off to a strong start in the new year. However, business performance will be determined by the future course of the pandemic and the economic impact of the related lockdown measures. Nevertheless, it will be difficult to repeat the record result from the previous year in 2021.The Display segment already demonstrated in the third quarter of 2020 that a swift recovery of the markets is possible. Assuming positive news about vaccines, additional economic stimuli, and an end to political uncertainty in the USA, we anticipate a gradual recovery of the retail trade and, along with that, an upturn in revenues for advertising and shop design. On the other hand, we expect that demand for transparent sheets for protection against infection will weaken.The Architecture segment should benefit in 2021 from a catch-up effect from postponed projects along with the implementation of projects that have already been initiated. However, a temporary stagnation in the USA is to be expected in the second half of 2021 because the fall-off in new building projects in 2020 will take some time before it affects the façade market.The Core Materials segment forecasts demand to remain high in the wind energy business area. Moreover, the Non-wind area holds out the promise of additional growth opportunities. On the other hand, sales prices, especially in China, can be expected to fall owing to changed market conditions and tougher competition.The Transport segment anticipates a challenging year because the market for buses will remain weak before any recovery sets in. The demand for rail vehicles, by contrast, is more robust but, depending on how the pandemic plays out, there may be further postponements of infrastructure projects, which would have a direct impact on demand for trains and railways. General MeetingBased on Art. 27 of the Federal Council's Ordinance 3 on Measures to Combat the Coronavirus (COVID-19 Ordinance 3), the General Meeting on April 1, 2021 will be held, as it was last year, without the presence of shareholders in person. Voting rights may be exercised through written or electronic power of attorney delegated to the independent proxy holder. Further information will be sent with the Invitation.The Board of Directors will propose paying an unchanged dividend of CHF 40 per bearer share at the General Meeting. This adds up to a total payout of about CHF 57 million. Motion for the election of KPMG as auditorTo ensure good corporate governance, the office of auditor was re-tendered. The Board of Directors will propose to the General Meeting of April 1, 2021 the appointment of a new auditor. KPMG is to replace Deloitte, which has served as the auditor of Schweiter Technologies Ltd. for more than 20 years. The Board thanks Deloitte for its many years of close cooperation. Changes on the Board of Directors and ManagementAs previously announced, Lukas Braunschweiler will unfortunately not stand for re-election to the Board of Directors at the General Meeting on April 1, 2021 after serving on the Board for ten years. The Board of Directors thanks Lukas Braunschweiler for his deep commitment and his invaluable contribution to the company's development. The Board of Directors will propose to the General Meeting the election to the Board of Dr. Daniel Bossard, CEO of the Bossard Group, and Stephan Widrig, CEO of Zurich Airport AG as independent directors.Heinz Baumgartner, who has been CEO of the Schweiter Technologies Group for many years, will stand down from the post of CEO at his own request in spring 2022 but will remain a member of the Board of Directors. The search for a successor has begun, and the nominee will be announced in due course. For further information please contact:Martin Klöti, CFOTel. +41 41 757 77 00, Fax +41 41 757 70 01, martin.kloeti@schweiter.com Please find the Media release in the PDF attached:Media release (PDF)
"Business in front, party in the back": a hairstyle considered so obnoxious that for years it verged on being an arrestable offence, the mullet has made the unlikeliest comeback of the century.
This weekend only, Woolworths Everyday Rewards Members will be able to claim an exclusive Discovery Garden seedling.
MAFS star Ines Basic has claimed she faked fights and was fed lines by producers during her time on the show. She compared it to being on a 'film set'.
* Dollar hits new highs against euro, Japanese yen * Commodity currencies sell off on risk aversion * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds comments, updates prices and milestones) By Kevin Buckland and Sagarika Jaisinghani TOKYO, March 5 (Reuters) - The dollar hit multi-month highs against the euro and the yen on Friday after Federal Reserve Chair Jerome Powell did not express concern about a recent sell-off in bonds while sticking to his stance to keep interest rates low for a long time. While Powell did stick with dovish rhetoric overall, he said the sell-off in Treasuries was not "disorderly" or likely to push long-term rates so high the Fed might have to intervene more forcefully, reigniting a sell-off in Treasuries. "Markets are listening to the central banks and if they are going to be on hold for a long time, that means long-term inflation is going to be higher and that's why you're seeing the bond and equity markets sell off," said Commonwealth Bank of Australia currency analyst Joseph Capurso.
(Bloomberg) -- Oil headed toward $65 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps.The surprise decision spurred a wave of crude price forecast upgrades by major banks. The producer alliance agreed to hold output steady in April, while Saudi Arabia said that it will maintain its 1 million barrel-a-day voluntary production cut. West Texas Intermediate rose a further 1% in Asian trading after surging by more than 4% to the highest close since April 2019 on Thursday.See also: Saudis Bet ‘Drill, Baby, Drill’ Is Over in Push for Pricier OilCrude has soared this year, shepherded higher by OPEC+ restraining supplies and the vaccine-aided recovery in consumption that’s drained inventories. The group’s decision represents a victory for Riyadh, which has advocated for tight curbs to keep prices supported.The Organization of Petroleum Exporting Countries and its allies including Russia had been debating whether to restore as much as 1.5 million barrels a day of output. As part of the agreement, which was struck at a virtual meeting on Thursday, Russia and Kazakhstan were granted exemptions. The group’s next meeting is set for April 1 to discuss production levels for May.Saudi Arabia’s bold and unexpected gamble to restrain production is founded upon its view that, this time around, higher prices will not lead to a big increase in output by American shale drillers. Saudi Energy Minister Prince Abdulaziz bin Salman told Bloomberg News in an interview after the OPEC+ meeting that shale companies are now more focused on dividends.Oil’s rapid gains this year stand to intensify the debate about the potential resurgence in inflation, and complicate the task facing the Federal Reserve as it supports the U.S. recovery. The Treasury market is already on edge for signs of faster price gains, with yields rising rapidly. Crude is up more than 7% since Tuesday’s close despite a marked strengthening of the dollar and a steep sell-off in other major commodities, especially economic bellwether copper.Saudi Arabia’s optimism over U.S. shale remaining subdued appears plausible for now, said Vandana Hari, founder of Vanda Insights in Singapore. However, “the kingdom might be pushing its luck if it pursues the hawkish path for too long” and oil can’t remain fully immune to broader risk-aversion, she said.See also: Here’s What Top Banks Are Saying About the Saudi-Led Oil ShockGoldman Sachs Group Inc. raised its Brent forecasts by $5 a barrel and now sees the global crude benchmark at $80 in the third quarter. JPMorgan Chase & Co. increased its Brent projection by $2 to $3 a barrel and Australia & New Zealand Banking Group Ltd. boosted its three-month target to $70. Citigroup Inc. said crude prices could top $70 before the end of this month.Change CourseOil rising to these levels will likely increase strains within OPEC+ as some members will want to pump more to relieve under-pressure economies, Citi said in a note. Top importers such as China and India would also not be happy and the alliance is likely to change course at its next meeting, it said.The lack of fresh supply was reflected in oil’s futures curve. Brent’s prompt timespread widened to 61 cents in backwardation, a bullish structure where near-dated prices are higher than later-dated ones, from 54 cents Thursday.More evidence of the demand recovery continued to emerge, especially in Asia. Gasoline and diesel consumption in China has extended its run above pre-virus levels this year after the faster-than-expected return of factory activity and infrastructure building following the Lunar New Year holiday.In addition to the fallout from the OPEC+ shock, investors are tracking China’s National People’s Congress, the nation’s biggest political meeting of the year. Beijing set a conservative economic growth target of above 6% for the year, well below what economists had forecast. It said it will increase stockpiles of oil and gas in its new five-year plan and improve the reserves system, while it will also seek to diversify its sources of energy imports.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
An Australian court upheld a landmark class-action lawsuit against Johnson & Johnson for "negligent" marketing of pelvic mesh implants on Friday, paving the way for thousands of women to receive compensation in a costly setback for the US pharma giant.
The giant NBA legend's wrestling debut ended in dramatic and destructive fashion.
Savvy Australians are making the most of an uptick in demand for makeup artists.
From G'day and Fair Dinkum – Aussie slang is a defining part of our culture Down Under.
(Bloomberg) -- Asian stocks and U.S. futures pared losses Friday as investors digested comments from Federal Reserve Chairman Jerome Powell that fell well short of trying to rein in bond yields. Treasuries held a decline.Stock markets were in the red in South Korea and China, which set a conservative growth target of more than 6% for 2021 that signals more restrained monetary and fiscal policies this year. Japanese equities edged higher. On Thursday, the tech-heavy Nasdaq 100 extended its decline to almost 10% from February’s peak, and the S&P 500 erased nearly all its 2021 gains.Australian bond yields surged in early trade, tracking a selloff in the U.S. 10-year that lifted the yield curve to its steepest point since 2015. Japan’s benchmark yield dropped as the central bank governor quashed speculation that the trading band for the 10-year might be widened. The U.S. dollar strengthened against nearly all major peers.Oil prices leapt after the OPEC+ alliance surprised traders with its decision to keep output unchanged. Bitcoin fell with other risk assets.Powell noted the recent runup in yields without hinting at intervention, saying that he would be “concerned by disorderly conditions.” While some investors view the rates moves as a sign of economic strength, others are growing concerned about rising inflation and the impact of higher yields on elevated stock valuations.“It makes logical and intuitive sense that Treasury yields should move back up to 1.50% or 2%, but we are concerned with the rest of the market about the speed at which it’s getting there,” said Mona Mahajan, investment strategist at Allianz Global Investors LLC.Stock-Market Momentum Comeuppance Gets No Sympathy From the FedMeanwhile, the U.S. Senate voted to take up a $1.9 trillion relief bill backed by President Joe Biden, setting off a debate expected to end this weekend with approval of the nation’s sixth stimulus since the pandemic-triggered lockdowns that began a year ago.The February U.S. employment report on Friday will provide an update on the speed and direction of the country’s labor-market recovery.These are some of the main moves in markets as of 1:35 p.m. in Tokyo:StocksS&P 500 futures dropped 0.1%. The gauge retreated 1.3% on Thursday.Japan’s Topix index added 0.2%.South Korea’s Kospi index fell 0.7%.Australia’s S&P/ASX 200 declined 0.8%.Hong Kong’s Hang Seng shed 0.3%.Shanghai Composite lost 0.3%.CurrenciesThe Bloomberg Dollar Spot Index rose less than 0.1%.The euro dipped 0.1% to $1.1956.The Japanese yen fell 0.1% to 108.08 per dollar.BondsThe yield on 10-year Treasuries rose about two basis point to 1.58%.Australia’s 10-year yield rose seven basis points to 1.84%.CommoditiesWest Texas Intermediate crude jumped 1% to $64.47 a barrel.Gold dropped 0.3% to $1,692 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
A year after LeBron James selected Kevin Durant as the first overall pick, the two superstars found themselves as opponents for the 2021 NBA All-Star Game draft.James, the Western Conference captain, said he is less than enthused by the festivities this year due to the shortened offseason and the Covid-19 pandemic, and Durant won't be playing in the game because of injury.
New York Governor Andrew Cuomo's top advisers had successfully pushed the state's health officials to strip a public report of data that showed more nursing-home residents had died of COVID-19 than acknowledged by the administration, the Wall Street Journal and the New York Times reported on Thursday. The report in July had examined factors leading to the spread of the coronavirus in nursing homes and focused only on residents who died inside long-term care facilities, leaving out those who died in hospitals after becoming sick in nursing homes, the Journal said https://on.wsj.com/3uSGDN0. Hence, that report had said 6,432 nursing-home residents died from the outbreak, which was a significant undercount of the death toll attributed to the state's most vulnerable population, the Journal added, citing sources with knowledge of the report's production.
FLGT earnings call for the period ending December 31, 2020.
(Bloomberg) -- China set a conservative economic growth target that signals more restrained monetary and fiscal policies this year, in contrast to other major nations still pumping in stimulus.The government set a growth target of above 6% for the year, well below what economists forecast, and will narrow the budget deficit to 3.2% of gross domestic product, Premier Li Keqiang said Friday at the opening of the National People’s Congress. While the fiscal gap is lower than last year, it’s above the 3% expected by many analysts, signaling Beijing still sees a need for spending to support the recovery.“A target of over 6% will enable all of us to devote full energy to promoting reform, innovation, and high-quality development,” said Li. “China will continue to face many development risks and challenges, but the economic fundamentals that will sustain long-term growth remain unchanged.”After emerging from the pandemic as the only major economy to expand last year, Beijing is now shifting its focus to tackling imbalances made worse by last year’s stimulus -- such as dependence on investment in property and infrastructure funded by corporate debt. That contrasts with other major economies such as the U.S., which are still injecting record levels of stimulus to overcome the impact of the coronavirus.“The government has set a more flexible economic growth target to leave room for structural reform and pandemic uncertainties,” said Bruce Pang, head of macro and strategy research at China Renaissance Securities Hong Kong. It’s almost certain that China will achieve that growth rate this year, which suggests authorities are shifting their focus to the quality of growth instead of speed, he added.The government said in its report that spending will be weighted toward “projects which will help significantly improve the people’s wellbeing.” It listed programs such as renovation of old housing, better public services in smaller towns, raising the basic pension, and increasing child-care and assistance for the elderly. It also pledged to improve the health-care system by reforming public hospitals, supporting the development of private hospitals, and setting up a mechanism to cover outpatient medical bills.This year’s meeting of the NPC, China’s main legislature, had added significance because of the release of a new five-year plan covering 2021-2025. A key focus of the plan is boosting spending and driving research into cutting-edge chips and artificial intelligence, laying out a technological blueprint to vie for global influence with the U.S.Click for English or Chinese version of China’s 2021 Government Work ReportThe government also projected defense spending growth of 6.8% this year, the largest increase since 2019, amid tensions with the U.S. and key neighbors.Slow Consumer Recovery“The foundation for achieving our country’s economic recovery needs to be further consolidated, impediments to consumer spending remain, and investment growth lacks sustainability,” Li said. “Our innovation capacity in key areas needs to be improved. Some local governments have serious budgetary deficits. In forestalling and defusing risks in the financial sector and other areas, we face formidable tasks.”China’s V-shaped recovery alongside a recession in the U.S. and elsewhere puts it on course to become the world’s largest economy by 2028, two years earlier than expected, according to projections by several banks including Nomura Holdings Inc. However, there has been a build-up in debt and worries about asset bubbles alongside that recovery, fueling expectations that policy makers will withdraw the monetary and fiscal stimulus unleashed during the pandemic last year.What Bloomberg Economics Says...This is a low bar for this year. Bloomberg Economics forecasts GDP will expand 8.2% this year, reflecting continued progress in the recovery and a low base of comparison last year, when growth slumped to 2.3%.-- Chang Shu, chief Asia economistFor the full report, click hereChina’s CSI 300 Index of stocks recovered after falling as much as 2% Friday, and was down 0.5% at the lunch break in Shanghai. The market is down 9.5% from its peak in early February. Traders blamed the initial losses on a global rout overnight, rather than any negative headlines out of the NPC. China’s government bonds were little changed, while the onshore yuan weakened less than 0.1%.The quota for local government bond sales is higher than the 3.5 trillion yuan forecast by analysts as the government continues to pursue proactive fiscal policy. On monetary policy, the government reiterated that it would be prudent, and would keep the yuan basically stable at a reasonable level.(Updates with additional detail.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Japan recommended extending its virus state of emergency by two weeks for the Tokyo region set to expire Sunday to prevent a fresh wave of infections as the nation prepares to host the Olympic games in July. Auckland, New Zealand’s largest city, will exit a seven-day lockdown this weekend after a small outbreak was contained.China set a conservative economic growth target of above 6% for the year, outlining fiscal support with prudent monetary policy as a recovery takes hold. The U.S. Congressional Budget Office gave the green light for the Senate’s version of the pandemic-relief plan, setting the stage for a debate with leaders eyeing a March 14 deadline. More than a dozen U.S. states reported increases in hospitalizations for the coronavirus, threatening to reverse a national trend that has pushed in-patient numbers to the lowest level since the fall. At the same time, governors across U.S. states, led by Texas, are loosening or abandoning social restrictions all together, counting on vaccines to usher in a return to pre-pandemic life.Key Developments:Global Tracker: Cases pass 115.5 million; deaths exceed 2.5 millionVaccine Tracker: More than 279 million shots given worldwideU.S. Spotlight: Hospitalizations in New York remain highest in nationInside Pfizer’s fast, fraught and lucrative vaccine distributionVaccinated workers get more office benefits than holdoutsWhere we are in hunting for the origin of Covid-19Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click CVID on the terminal for global data on cases and deaths.Tokyo Targets 140 Daily Cases to Lift Emergency (12:26 p.m. HK)The Tokyo Metropolitan Government aims to bring daily coronavirus infections down to a 7-day average of about 140 before lifting the state of emergency in the capital, Nikkei reports, citing an unidentified person.Infections by that measure are about 269 now and the government is also aiming to lower hospitalized patients to about 1,000 from the current 1,519. Hong Kong Vaccination Rate Dips a Second Day (12:08 p.m. HK)Hong Kong has seen vaccination rates in the city decline for two straight days, in a sign the government may face difficulties keeping up the momentum of the inoculation program.The city administered vaccines to 10,300 people on Thursday, 12% lower than Wednesday’s rate, which itself was a 10% drop from the previous day. Tuesday’s total of 13,000 was the largest number of vaccinations since Hong Kong began giving shots to the public at the end of February.Auckland to Exit Lockdown on Sunday (12:07 p.m. HK)Auckland, New Zealand’s largest city, will exit a seven-day lockdown this weekend after a small community outbreak of Covid-19 was contained, Prime Minister Jacinda Ardern said.Auckland’s alert level will drop to 2 from 3 at 6 a.m. local time Sunday, allowing schools and businesses to reopen, Ardern said after a cabinet meeting Friday in Wellington. The remainder of New Zealand will move to level 1, meaning people no longer have to observe social distancing or limit the size of gatherings.Australia Downplays Italy’s Vaccine Block (12:06 p.m. HK)Australia’s health minister, Greg Hunt, downplayed the impact of Italy blocking supplies of AstraZeneca vaccines even as the nation starts its rollout. The company had a “deep, broad, global supply chain,” Hunt said. Still, Italy’s move was a reflection of “arguably the most intensely competitive international environment since, perhaps, the Second World War” as nations jostle to secure vaccines, masks and ventilators, Hunt told reporters.Australia began its rollout of the Pfizer/BioNTech Covid-19 vaccine about two weeks ago. It’s set to start domestic production of the AstraZeneca product, targeting 1 million doses a week from late March.California Governor Extends Anti-Eviction Order (10:44 a.m. HK)Governor Gavin Newsom signed an executive order extending authorization for local governments to halt evictions for commercial renters impacted by the COVID-19 pandemic through June 30, 2021, according to a statement.The order extends protections against price gouging for emergency and medical supplies amid the ongoing response to the pandemic.Taiwan to Make 120 Million Doses by Yearend (10:42 a.m. HK)National Health Research Institutes will apply to build a second plant to expand vaccine production capacity, Taipei-based Apple Daily reported, citing Health Minister Chen Shih-chung.The government expects mass production of Taiwan’s Covid vaccines to start in July, the newspaper said.China Sets 2021 Growth Target Above 6% (9:12 a.m. HK)China set a conservative economic growth target of above 6% for the year, well below what economists forecast, and outlined ongoing fiscal support with prudent monetary policy.The government will narrow the budget deficit to 3.2% of gross domestic product this year from 3.6% in 2020, Premier Li Keqiang said Friday at the opening of the National People’s Congress.U.S. Hospitalizations Threaten Rebound (9:08 a.m. HK)More than a dozen U.S. states reported increases in hospitalizations for the coronavirus, threatening to reverse a national trend that’s pushed in-patient numbers to the lowest level since the fall.U.S. hospitals were treating 49,519 patients as of Thursday, data from the Department of Health and Human Services show. The tally fell 3.8% since March 1 after California reported 544 fewer cases and Texas recorded a decline of 391. Hospitalizations are down 62% from a peak of 131,637 in mid-January, though the pace of the reduction appears to be slowing.Michigan had 945 hospitalizations Thursday, an increase of 13% over the past three days. Cases jumped 4.9% to 2,075 in Pennsylvania. New Jersey, Massachusetts, Connecticut, Rhode Island, Virginia, Tennessee, Utah, South Dakota, Montana, New Mexico, Nebraska, Idaho and Wyoming also recorded an increase in in-patients.Covid cases make up 12% of hospital patients in New York and Georgia, the highest proportion among U.S. states.Group Calls for Independent Virus Probe (9:05 a.m. HK)A group of scientists called for an independent probe to consider all hypotheses and nail down whether the virus came from an animal amid controversy over the investigation organized by the World Health Organization and China.More than 20 signatories said in an open letter published by the Wall Street Journal that the mission isn’t independent enough as the WHO considered delaying an interim report.Indonesia Holds Phase-3 Trial for China Vaccine (8:32 a.m. HK)A trial on the Covid-19 vaccine produced by China’s Anhui Zhifei Longkema Biological Pharmaceutical will enroll as many as 4,000 participants in Bandung and Jakarta, CNN Indonesia reports.Approval for an emergency use of the vaccine is expected in September, CNN reports.Wells Fargo Offers Vaccine Time Off (7:02 a.m. HK)Wells Fargo & Co., which has the largest workforce among U.S. banks, is encouraging employees to get vaccinated against Covid-19 and is offering paid time off for the inoculations.The firm will offer up to eight hours paid time off for employees across the world to get vaccinated, according to an internal memo reviewed by Bloomberg. The San Francisco-based bank is expanding a testing program, offering the service free to workers at its 25 largest locations, and those who work at other facilities can request an at-home test.Tokyo Plans to Extend Emergency (6:20 a.m. HK)The Japanese government recommended to extend by two weeks its virus state of emergency for the Tokyo region set to expire Sunday, trying to maintain a declining trend in infections as it looks to host the Olympics in about four months.The move was announced early Friday by the government’s point man for virus management, Economy Minister Yasutoshi Nishimura. It came after Prime Minister Yoshihide Suga strongly indicated Wednesday that he was looking to extend the nearly two-month measure, saying it was “an extremely important time for preventing infections.”Pfizer Plant Cited for Quality Issues (4:59 p.m. NY)The factory that Pfizer Inc. plans to use to boost production of its Covid-19 vaccine for the massive U.S. inoculation effort was cited by federal inspectors last year for repeated quality-control violations.Food and Drug Administration inspectors visited the McPherson, Kansas, plant at the end of 2019 into January 2020, according to an inspection report obtained by Bloomberg via a Freedom of Information request. They found the drug giant released medications for sale after failing to thoroughly review quality issues that arose in routine testing, the report shows.College Agrees to End Tuition Suit (2:50 p.m. NY)Southern New Hampshire University has agreed to pay $1.25 million to resolve a class action in federal court by students demanding refunds after the school canceled in-person classes last spring because of the Covid-19 pandemic.The deal appears to be among the first to be reached in a sea of hundreds of lawsuits filed by students against colleges and universities in federal court after Covid-19 disrupted in-person curricula last year.Canada Sees Faster Shot Timeline (2:45 p.m. NY)The Canadian minister in charge of vaccines said it’s “highly likely” the government will be able to move up its target date of September for inoculating every citizen who wants a Covid-19 shot.Procurement Minister Anita Anand said Thursday in an interview that more people could get their jabs at a faster pace as the delivery of doses ramps up.Canada had administered 5.5 doses of vaccine per 100 people as of Wednesday, according to Bloomberg’s vaccine tracker, putting it last among all Group of Seven nations except Japan. The U.K. and U.S. have given 32.3 and 24.3 doses per 100 of their citizens, respectively.France Tightens Restrictions (1:20 p.m. NY)France plans to tighten restrictions and accelerate vaccinations in parts of the country as the government continues to shy away from a third nationwide lockdown on hopes that improvement is just weeks away.The Pas-de-Calais department on the northern coast of France will be put under a weekend lockdown as of Saturday, French Prime Minister Jean Castex said at a weekly news conference. “A lockdown, even limited to the weekend, is a heavy measure,” he said.Kuwait Imposes Curfew (12:53 p.m. NY)Kuwait has imposed a partial curfew as daily cases jumped to the highest on record. The curfew comes into force from March 7 between 5 a.m. and 5 p.m. for a month, the Council of Ministers said in a statement. The Gulf nation reported 1,716 new cases on Thursday, taking the total to 196,497 with 1,105 deaths.NYC Gets First J&J Vaccine Shots (11:05 a.m. NY)New York City has received 16,300 Johnson & Johnson vaccine doses, its first delivery of the one-shot vaccine, Mayor Bill de Blasio said. The city will use the J&J shots to begin vaccinating home-bound seniors, the mayor said in a Thursday briefing.De Blasio said when he becomes eligible to get the vaccine, he hopes to get the J&J shot. The city surpassed 2 million vaccinations this week and the city’s health commissioner has said vaccines may be available to all residents by late April.Zimbabwe Approves Indian Vaccine (11:02 a.m. NY)Zimbabwe has become the first African country to authorize the use of India’s only homegrown coronavirus vaccine, which the developers this week said showed strong efficacy.The first batch of Covaxin, which was co-developed by Hyderabad-based Bharat Biotech International Ltd. and the Indian Council of Medical Research, is due to arrive shortly, the Indian Embassy in the southern African nation said on its Twitter account.Germany, Sweden Clear Astra Shot for Elderly (7:44 a.m. NY)Germany has joined countries widening guidelines for AstraZeneca’s vaccine, based on incoming data that support giving the shot to the elderly.Germany’s immunization commission is recommending the vaccine for people age 65 and older, Health Minister Jens Spahn said in an emailed statement. That expands on a ruling that initially limited it to adults between the ages of 18 and 64.Sweden has lifted its recommendation against using AstraZeneca’s vaccine for people older than 65, Public Health Agency Official Sara Byfors told reporters.Milan Tightens Curbs (6:42 a.m. NY)Almost one year after Milan became the first European region to enter into a hard lockdown, the Italian financial capital is again facing major restrictions.All schools will be closed until March 14 and no person will be able to leave town if not for business and health reasons. Milan citizens won’t be allowed to reach their holiday houses, with bars and restaurants remaining closed while shops can stay open.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The demonising of the Duchess of Sussex over the health of Prince Philip has some perplexed and others just livid.
A Canadian prosecutor on Thursday urged lawyers for Huawei executive Meng Wanzhou to "leave the politics to the politicians," after they cited statements by former US president Donald Trump in fighting her extradition to the United States.
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