Treasury Secretary Janet Yellen said on Sunday that American workers who earn $60,000 per year should receive stimulus checks as part of the White House's proposed $1.9 trillion COVID-19 relief package.
Treasury Secretary Janet Yellen said on Sunday that American workers who earn $60,000 per year should receive stimulus checks as part of the White House's proposed $1.9 trillion COVID-19 relief package.
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.
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.
Aucklanders have been buoyed by the news their latest COVID-19 lockdown will end on Sunday morning.After health officials reported a fifth successive day without community transmission on Friday, New Zealand's cabinet agreed to end the lockdown a week after it began.
Chinese Premier Li Keqiang pledged on Friday to promote business ties with the United States based on "mutual respect" that benefit both countries. The world's two largest economies have been at odds over trade and economic policy, especially when it comes to U.S. efforts to restrict tech exports to China and tariffs both have put on each others goods. This week, President Joe Biden singled out a "growing rivalry with China" as a key challenge facing the United States, with his top diplomat describing the Asian country as "the biggest geopolitical test" of this century.
BF.A, BF.B earnings call for the period ending January 31, 2021.
Japanese supercomputer simulations showed that wearing two masks gave limited benefit in blocking viral spread compared with one properly fitted mask. The findings in part contradict recent recommendations from the U.S. Centers of Disease Control and Prevention (CDC) that two masks were better than one at reducing a person's exposure to the coronavirus. Researchers used the Fugaku supercomputer to model the flow of virus particles from people wearing different types and combinations of masks, according to a study released on Thursday by research giant Riken and Kobe University.
Luckless St Kilda defender Dylan Roberton has called time on his 129-game AFL career.The 29-year-old has been away from the club since January as he weighed up his future due to health issues.
A man who shot two brothers at a tyre business in Melbourne four years ago has been acquitted by a jury after arguing he acted in self-defence.Edmund Shabani died in the Ravenhall shooting while his brother Elvis was seriously injured after being shot by Ahmad El-Chakik.
For activists preparing to mark International Women's Day in Kyrgyzstan, recalling the ambush that broke up last year's march is still traumatic.
A review of the environmental licences of three of Victoria's largest coal-fired power stations is being criticised for failing to curb their greenhouse gas emissions.The Environmental Protection Authority on Friday announced new licence conditions for Yallourn, Loy Yang A and Loy Yang B power stations, located in the Latrobe Valley in the state's east.
Queensland is pressuring the federal government for a definitive answer on support for a regional quarantine camp it says will help more vulnerable Australians come home.The Wagner Group wants to build a coronavirus quarantine facility at Wellcamp Airport near Toowoomba, which would host up to 1000 travellers and 300 staff.
Israel Adesanya has believed all along that becoming the greatest mixed martial artist of all time is his destiny.