Profile Of A Killer: Unraveling The Deadly New Coronavirus – WBEZ

What is this enemy?

Seven months after the first patients were hospitalized in China battling an infection doctors had never seen before, the world has reached an unsettling crossroads.

Countless hours of treatment and research, trial and error now make it possible to take much closer measure of the new coronavirus. But to take advantage of that intelligence, we must confront our persistent vulnerability.

Its like were in a battle with something that we cant see, that we dont know, and we dont know where its coming from, said Vivian Castro, a nurse supervisor at St. Josephs Medical Center in Yonkers, just north of New York City, which struggled with its caseload this spring.

The coronavirus is invisible, but seemingly everywhere. It requires close contact to spread, but it has reached around the globe faster than any pandemic in history, causing economic upheaval echoing the Great Depression while claiming more than 580,000 lives.

Even those figures dont capture the pandemics full sweep. Nine of every 10 students worldwide shut out of their schools at one point. More than 7 million flights grounded. Countless moments of celebration and sorrow reconfigured or abandoned for fear of infection.

In short, the coronavirus has rescripted daily life. And fighting it takes knowing the enemy, the essential first step in what could be an extended quest for normalcy.

Theres light at the end of tunnel, but its a very, very long tunnel, said Dr. Irwin Redlener, director of the National Center for Disaster Preparedness at Columbia University.

I think its absolutely certain were going to be adapting to a new way of life. Thats the reality.

The new coronavirus is roughly 1,000 times narrower than a human hair. But scrutinized through an electron scope, it is clear this enemy is well-armed.

Coronaviruses, including the newest one, are named for the spikes that cover their surface like a crown, or corona in Latin. Using those club-shaped spikes, the virus latches on to the outer wall of a human cell, invades it and replicates, creating viruses to hijack more cells. Find a way to block or bind the spikes and you can stop the virus.

Once inside a human cell, the virus RNA, or genetic code, commandeers its machinery, providing instructions to make thousands of virus copies.

But the coronavirus has a weakness: an outer membrane that can be destroyed by ordinary soap. That neutralizes the virus, which is why health experts emphasize the need to wash hands.

There are hundreds of coronaviruses, but just seven known to infect people. In 2002, one such virus called SARS, for severe acute respiratory syndrome, spread from China to kill more than 700.

The new coronavirus, though, has captivated scientists attention unlike any in decades.

Basically, everyone in the world is susceptible, said Thomas Friedrich, a researcher at the University of Wisconsin-Madison.

Scientists are fairly certain the disease originated in bats, and may have passed through another animal, possibly consumed for meat. Chinese authorities walled off the city of Wuhan, where the disease was first diagnosed, in late January.

But with more than 100,000 daily commercial flights circling the globe, the new virus spread rapidly and virtually invisibly, said medical historian Mark Honigsbaum, author of The Pandemic Century: One Hundred Years of Panic, Hysteria and Hubris.

By the time we woke up to the outbreak in Italy, it had been there for weeks if not months, he said.

Since February, when Dr. Daniel Griffin began treating patients suspected of having COVID-19, hes cared for more than 1,000 people with the disease, first noted for attacking the lungs. But the infection certainly does not stop there.

This virus seems to leave nothing untouched, said Griffin, a specialist in infectious diseases at New Yorks Columbia University Medical Center.

The lungs are, indeed, ground zero, with many patients finding themselves gasping for breath. The reason why becomes clear in autopsies of those who have died, some with lungs that weigh far more than usual.

Each autopsy has the chance to tell us something new, said Dr. Desiree Marshall, a pathologist at the University of Washington. And those insights from the bodies of the dead could lead to more effective treatment of the living, she said.

The coronavirus, though, keeps raising fresh questions. It left the hearts of two men in their 40s, recently treated by Griffin, flaccid and unable to pump enough blood. Some younger people have arrived in emergency rooms suffering strokes caused by blood clotting, another calling card.

Kidneys and livers fail in some patients, and blood clots put limbs at risk of amputation.

Its difficult because they have so many problems and there are so many patients, said Dr. Stuart Moser, a New York cardiologist.

Along with studying the virus, scientists are focusing on the genes of the people it infects. They are finding early clues to a puzzling anomaly: Why does the coronavirus ravage some previously healthy patients, while leaving others relatively unscathed?

The question of why the disease affects people so differently also has broader implications. Its not clear, for example, why the disease has had such a limited impact on children, compared to other age groups.

The answers will help in assessing the risks of reopening schools, and eventually could lead to ways to help make older people resistant to the disease.

This is what happens with a new virus, said Dr. Sonja Rasmussen, a professor of pediatrics and epidemiology at the University of Florida. Were on that steep learning curve.

With states and countries reopening in the face of an ongoing pandemic, its even more crucial to find solutions. The last few months have spotlighted the most critical questions.

Can people who have been infected with the disease get it again?

Dr. Anthony Fauci, the U.S. governments top infectious disease expert, has said that having the disease once should confer some degree of immunity. But its not clear how much or for how long.

If some people harbor the virus without symptoms, how can we block transmission?

The reality is that many infected people will never feel symptoms or get sick, which means temperature checks and other strategies based on symptoms wont be enough to stop it. Instead, many experts believe widespread testing is needed to find silent carriers, isolate them and track down those they may have infected. Masks and distancing can help prevent infection and slow the spread of the virus.

Will researchers find medicines that can be used to treat the disease?

Hundreds of studies are under way, testing existing medicines and experimental ones. So far, only one a common steroid called dexamethasone has been shown to increase survival.

How long will it take to find a vaccine?

Scientists in more than 150 labs are pursuing a vaccine and nearly two dozen candidates are in various stages of testing. But theres no guarantee any will pan out. Finding out if any offer true protection will require testing thousands of people in places where the virus is spreading widely. Some huge studies are expected to begin this month and, in the U.S., the goal is to have 300 million doses of potential vaccines by January.

The World Health Organization has called for equitable sharing of any eventual vaccine between rich and poor countries, but how that will happen is far from clear.

Its also uncertain how useful any vaccine will be if a sizable number of people, their skepticism fed by misinformation, refuse to be inoculated.

Even an effective vaccine will not address the likelihood that, given the large number of coronaviruses and increasing contact between people and the animals harboring them, the world is very likely to face other pandemics, Honigsbaum said.

That makes uncertainty the hallmark of the new normal.

Associated Press reporters Carla K. Johnson, Marilynn Marchione, Sam McNeil and Lauran Neergaard contributed to this story.

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Profile Of A Killer: Unraveling The Deadly New Coronavirus - WBEZ

Pacific Islanders hit hard by the coronavirus – Los Angeles Times

It was still early in Californias coronavirus outbreak when Lina Ili started feeling the symptoms that would soon turn her familys life upside down.

Coughing and running a fever, she holed up inside the bedroom of her Long Beach home for weeks. But breathing grew increasingly difficult, Ili, 46, said. You couldnt even lie down because it felt like a heaviness on your chest.

On April 5, her husband, Aoga Ili Jr., decided it was time to take her to the hospital, where she tested positive for COVID-19.

The next day, her 22-year-old son, Taylor, was hospitalized. A few days later, her husband was too. In a matter of days, three of the five members of their household were put in the intensive care unit. Lina had it worst and spent four days on a ventilator.

I wouldnt wish it upon my worst enemy, she said. Just as simple a thing as to breathe, I dont take it for granted anymore.

The Ilis, whose parents came from Samoa more than 40 years ago, are among nearly 1,400 Californians with ancestry in Hawaii, Samoa, Fiji, Tonga and other Pacific islands who have been infected with the coronavirus, which is sickening and killing members of the small but close-knit community in disproportionate numbers.

In L.A. County, Pacific Islanders suffer the highest infection rate of any racial or ethnic group, more than 2,500 per 100,000 residents. Thats six times higher than for white people, five times higher than for Black people and three times higher than for Latinos, according to county health demographic data that exclude Long Beach and Pasadena, which have their own health departments.

Health experts say the reasons are similar to why Black people and Latinos are falling ill and dying at higher rates: reduced access to healthcare; higher levels of poverty; crowded housing; multigenerational households that make it more difficult to physically distance or quarantine; and higher rates of underlying health conditions that increase risk for severe illness from COVID-19, such as heart and lung disease, asthma and diabetes. Many Pacific Islanders also work in frontline jobs, such as food service, hospitality and healthcare, where they are more likely to contract the virus and bring it home.

But community leaders say there are other factors that are unique to the culture of Pacific Islanders, and they say that public health officials have failed to adequately address them.

Among these factors are cultural traditions that center on large family gatherings, in-person church services, funerals and birthday celebrations that, in some cases, have continued despite orders to maintain social distance. Leaders in the Pacific Islander community say also that a cultural stigma associated with a positive diagnosis may be facilitating the spread of the virus.

The shame factor of it is real, said Dr. Raynald Samoa, an endocrinologist at City of Hope in Duarte who battled COVID-19 himself. People are not getting their families tested. Theyre not speaking out, theyre not getting identified because theyre afraid that theyre going to have to stay home from work or that its going to negatively impact their family.

Samoa has helped raise awareness by speaking about his experience in Facebook videos and other appearances and urging Pacific Islanders to take the virus seriously and heed health guidelines.

Samoa faulted health officials for taking no proactive measures to reduce rates of transmission and infection in Pacific Islander communities.

I wish there were things in place, but there was nothing, Samoa said. That left it to Pacific Islander groups to assemble their own COVID-19 response team, devise their own strategy and messaging based on past work with chronic diseases such as diabetes and cancer, and push the county to use it.

California is home to nearly 317,000 Pacific Islanders, and more than 55,000 of them reside in Los Angeles County, according to census data that include people who identify as multiracial, which is common in the community.

Statewide, Pacific Islanders have experienced infections and deaths at higher rates than most other groups, but the disparities arent as pronounced as they are in L.A. County. Their statewide infection rate is three times higher than that of white Californians, and 20% higher than Latinos infection rate, while their death rate is nearly 60% higher than that of white people but lower than that of Black residents.

Although numbers remain small overall California has reported 35 deaths and 1,389 confirmed cases among Pacific Islanders as of July 15 they reveal an outsize toll on a community that already experiences higher rates of underlying health conditions. Sixteen Pacific Islander residents in L.A. County have died, for a rate of 83 per 100,000 people twice as high as white and Latino county residents.

Health officials say they are not surprised by the high rates of illness.

Sadly, these disparities are consistent with other health disparities we see and reflect deeply rooted and pervasive inequities in our society that are in part fueled by racism, xenophobia, and a lack of opportunities and resources to support optimal health, Natalie Jimenez, a spokeswoman for the L.A. County Department of Public Health, said in an email.

The county Health Department has examined statistics on Native Hawaiians and Pacific Islanders from the beginning of the COVID epidemic but did not initially report them to protect confidentiality due to the low numbers of reported cases and deaths, Jimenez said.

Local health officials began releasing data on infections and deaths among Pacific Islanders at the urging of community groups who saw a lack of targeted response. Pacific Islander leaders began pushing officials, county by county, to release data on their community rather than lumping them together with Asians.

In L.A. County, health officials began publishing those numbers in late April, two days after Pacific Islander groups requested it in a Zoom meeting.

Jimenez, the department spokeswoman, said the reason we began publishing the disaggregated data was that, based on the communitys input and the unprecedented threat posed by the COVID epidemic, we felt that the benefits outweighed the risks of posting the statistics.

Those statistics have been crucial for getting people in the community to take the threat seriously, said Alisi Tulua, a program manager with the Orange County Asian and Pacific Islander Community Alliance, which pushed for their release. Weve been using the data as our biggest, most convincing talking point.

With the partial reopening and recent surge in cases, however, community groups and faith leaders fear theyll only see the trend compounded as waves of the virus spread through their families and churches.

Our community is back to work and more exposed. So its going to be twice as hard to quarantine and try to get tested, Tulua said. While its flattening for other people, its still climbing in our community. If we bring it home, maybe were OK, but our parents will suffer. And if were not careful, were going to kill off a whole generation of our people.

Pastor Kitione Tuitupou, left, livestreams services from inside First United Methodist Church of Bellflower, whose congregation of about 100 is majority Tongan.

(Christina House / Los Angeles Times)

Jimenez said the L.A. County Health Department has been working with Pacific Islander groups for a few months to create culturally relevant and sensitive materials that resonate with the community. That includes tailored outreach with educational graphics that will be shared on social media in the Tongan, Samoan, Chamorro and Marshallese languages, public service announcement videos featuring Tongan, Samoan and Chamorro community leaders and photos of Pacific Islander families wearing masks. Those materials are being distributed to community leaders, she said.

Because health officials had not yet released data on Pacific Islanders, the Ilis didnt know their community was seeing higher rates of coronavirus infection when they started getting sick.

The oldest son, Pele Ili, 26, quickly became the only healthy adult in his household, and suddenly found himself the caretaker for his whole family, tending to his sick parents and brother while trying to protect his 12-year-old brother, Solo, from falling ill too.

On Easter Sunday, Pele, a service manager at a payroll company who also blogs, posted about his familys experience on Instagram in an effort to get others to take the stay-at-home orders seriously.

I was naive to think this couldnt touch my family. I was ignorant to think that me feeling healthy meant that I was okay to attend a few small gatherings but little did I know my house was compromised, Pele wrote on April 12. ... This could happen anywhere, anytime, and to anyone whenever youre not home. No one is above this.

Being outspoken was important to combat the stigma, Pele later said. Pacific Islanders have this sense of pride, where they can take care of themselves and they want to keep everything in house, you know, just to not draw as much attention on our family.

He documented his familys ordeal, shooting extensive video and posting it to YouTube, and now looks back on it as one of the most overwhelming and emotional times of his life.

There were times where I didnt know if they were ever gonna come back out, he said. They could barely talk. And I think the hardest part was just not knowing what was going to happen.

Dr. Samoa and other leaders worry that, in addition to being exposed to the virus at the workplace, people are being exposed to COVID-19 at churches that are the heart of many Pacific Islander communities.

Although some have taken health precautions, others have seemingly ignored them, including one church that held an in-person fundraiser last month that was also streamed online, Samoa said. I didnt see a mask in that place, and the social distancing was minimal.

Churches are where people congregate; its the village center, Samoa said. So if the village leadership is not promoting safe behaviors, then the community suffers.

Because of the COVID-19 pandemic, First United Methodist Church of Bellflower Pastor Kitione Tuitupou now livestreams Sunday services.

(Christina House / Los Angeles Times)

The Rev. Kitione Tuitupou, pastor of First United Methodist Church of Bellflower, a multiethnic congregation of about 100 people that is majority Tongan, has been playing it safe, livestreaming Sunday services since stay-at-home orders were issued in March.

Although people are eager to return, they are also fearful, he said. Peoples faith really holds them up at this time. So even though they really want to come back to church, we remind them to be patient.

For the Ilis, the sudden suspension of in-person gatherings has been difficult and isolating.

They had to halt their weekly attendance at St. Cornelius Church and the meals they shared with extended family afterward in favor of a livestreamed Mass. Yet theyve adopted new traditions to stay connected, like a 5:30 p.m. Zoom prayer hour with out-of-state family members.

Were learning to be creative, Pele said.

Lina Ili, now recovered, to this day doesnt know where she contracted the virus but is still dealing with the stigma.

People are still kind of afraid to be in the same area as us, she said. But, at this point, she said she only regretted trying to fight off the illness at home for too long.

She, like her oldest son, now speaks at webinars urging other Pacific Islanders who may be feeling symptoms to get tested and seek medical help.

The hardest part for our culture is admitting you need help, Lina said. You could be helping someone else, or saving a life.

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Pacific Islanders hit hard by the coronavirus - Los Angeles Times

Coronavirus updates: What you need to know, Saturday, July 18 – Palm Beach Post

The latest news, information and numbers on the coronavirus from Palm Beach County, Florida, the U.S. and the world.

TO OUR READERS: The Palm Beach Post will continue to provide essential coverage of the coronavirus for free. You can have coronavirus news delivered directly to your inbox by signing up for our Coronavirus Newsletter. Please support local journalism by subscribing to The Post:

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U.S. hits record number of daily COVID-19 cases

The U.S. again set a daily record of new COVID-19 cases Thursday, reporting more than 77,000.

The rising numbers are a stark reminder of Dr. Anthony Fauci's warning to Congress last month that the U.S. could eventually see 100,000 new infections a day.

As the outbreak continues to surge across the southern states, Florida, Texas and South Carolina set records for new daily deaths, reporting 156, 129 and 69, respectively. While wearing face masks in public is mandatory in the majority of U.S. states, Texas only requires masks in counties with active COVID-19 cases, and Florida and South Carolina don't have statewide mask orders.

In neighboring Georgia, meanwhile, Gov. Brian Kemp filed a lawsuit Thursday against the Atlanta City Council and the mayor to block the city from enforcing its face mask mandate. | Read more

Ohio veteran, 37, who went viral for refusing to wear a mask, died of COVID-19

An Ohio man who died due to complications from COVID-19 has drawn criticism for his staunch refusal to wear a mask earlier in the pandemic.

Richard Rose III, an Army veteran who spent nine years in the United States Army according to his obituary, died on July 4. He was 37.

Roses death gained notoriety on social media after expressing that he was "not buying a (expletive) mask" less than three months before his death.

"Ive made it this far by not buying into that damn hype," he said in a post published April 28.

The post has since garnered more than 800 comments and 19,000 shares, with many using the post to ridicule Rose for his stance on masks. Others defended Rose. | Read more

Broward County issues nightly curfew

Under an emergency order issued Friday, Broward County now has a curfew in place from 11 p.m. to 5 a.m. every day, according to the South Florida Sun-Sentinel.

The curfew lasts through Aug. 1, but it can be extended if the numbers dont improve.

Broward joins Miami-Dade County in having a curfew. | Read more

Dont only focus on deaths. Too many Americans are alive and in misery.

While COVID-19 has killed nearly 137,000 people and sickened about 3.5 million Americans, President Donald Trump has found something about his administration's response to celebrate: He boasted that U.S. deaths are "down, 'low and steady' " in a recent tweet. In addition to being out of touch, Trumps talking point is dangerous, disturbing and potentially untrue.

Positive cases are breaking records in states across the South and Southwest especially, with 50,000 to 60,000 positive cases reported each day.

Test positivity rates are near 9% nationally, double what they were a month ago. And because deaths lag cases by three to six weeks, the death toll will likely go up. (If deaths truly are down, it would partly be because we now know how to better treat patients.) | Read more

Back-to-school reopening plans have few details on how many cases would close schools

Even as they recommended working to reopen schools in-person, the nation's science academies warned: "It is likely that someone in the school community will contract COVID-19."

But largely missing from the reopening protocols at states and schools around the nation are concrete plans for what administrators are to do when coronavirus infections enter a school.

The prospect of reopening school in the fall is already looking less likely in much of the nation. Confirmed COVID-19 cases in the U.S. have skyrocketed to nearly 3.6 million, and more than half of states have paused or scaled back efforts to reopen their economies.

A growing number of school districts have decided to start the fall semester online. California's districts with high cases or transmission must begin the academic year with distance learning, the state's governor announced Friday. In other states, districts are pushing back their start dates. | Read more

Free agent Major League Baseball outfielder Yasiel Puig tests positive

Free agent outfielder Yasiel Puig announced Friday afternoon that he had tested positive for COVID-19 and is entering quarantine.

Puig, who says he is asymptomatic, was reportedly set to sign with the Braves but that deal appears to be scuttled for now.

"I urge everyone to take this pandemic seriously, this can happen to anyone, even the healthiest athlete," Puig said in a statement. "Wear a mask, social distance and follow your local protocols."

After spending the first six years of his career with the Dodgers, the 29-year-old split 2019 between the Reds and Indians, hitting 24 home runs with 19 stolen bases.

An All-Star in 2014, the Cuban-born Puig went unsigned this winter. In 861 career games, Puig has a .277 average, 132 home runs and an .823 OPS. | Read more

Palm Beach County is at 24,361 cases with 673 deaths

Florida again added more than 10,000 positive diagnoses to its rapidly escalating COVID-19 caseload, with 11,466 more cases reported Friday for a total of 327,241 with 4,912 deaths..

Palm Beach County added 650 new coronavirus cases Friday, driving its total to 24,361 with 673 deaths.

The 11,466 new cases reported by the Florida Department of Health marks the seventh time in eight days that more than 10,000 cases have been reported on a single day.

No other state in the nation has seen such a sustained level of rapid growth. | Read more

DeSantis doesnt plan to heed advice of White House task force

Gov. Ron DeSantis said Friday he has no intention of heeding the advice of the White House Coronavirus Task Force, which is recommending that strong measures be taken to stop the spread of the virus in counties throughout Florida.

While the number of cases and deaths continued to mount, he said he wouldnt close gyms or restrict restaurants to outdoor seating to address outbreaks as suggested in a task force report that was leaked to the Center for Public Integrity on Thursday.

He was particularly adamant about keeping gyms open. | Read more

30 days, no COVID-19 deaths in Vermont

In the last 30 days, there is only one U.S. state that has not seen a single COVID-19 related death: Vermont.

Vermont's neighbors one of which, New York, was once considered the epicenter of the virus have seen downward trends in reported cases and deaths. Still, New Hampshire reported 24 deaths in July, while Massachusetts and New York reported 326 and 357 deaths respectively so far this month.

Vermont has remained steady at 56 deaths from COVID-19 since June 18, a trend Health Commissioner Mark Levine attributes to the vigilance of Vermonters as well as strict health protocols for those in long term care facilities, who account for 52% of the state's fatalities.

Home Depot joins roster of retailers requiring masks

Another retailing heavyweight is weighing in on the national mask-wearing issue: Home Depot will now require all shoppers wear them.

The home improvement retailer said Friday that customers must wear masks inside all U.S. stores beginning Wednesday, July 22. However, small children and those who have a valid medical condition will not have to wear them. Customers not wearing masks because of a medical condition are asked to speak with an associate before entering the store, the company says.

Home Depot joins a slew of retailers including Walmart, Target, CVS, and Walgreens mandating masks at stores nationwide.

Americans are defying travel bans

Not everyone is staying home this summer. Some travelers are shrugging off the resurgence of COVID-19 infections, ignoring the shutdowns and taking a vacation anyway.

Half of Americans plan to stay put this summer, according to a new survey by LuggageHero. But 31% have taken a domestic trip since lockdown restrictions were eased, and a remarkable 19% have traveled internationally.

Britain eases restrictions, Israel locks down

The coronavirus pandemic continues to ravage countries worldwide, with Brazil surpassing 2 million cases and India surpassing more than 1 million Friday.

British Prime Minister Boris Johnson announced rollbacks of lockdown measures Friday, saying he hopes social distancing will come to an end by Christmas.

Meanwhile, Israel re-entered a partial lockdown, Barcelona city officials urged residents to stay home, and Tokyo reported a record number of new cases for the second straight day.

U.S.-Canada, Mexico border closures extended into late August

Travelers looking to cross the land border into Canada or Mexico will have to wait at least another month after the Department of Homeland Security extended closures at both borders due to the pandemic.

Department of Homeland Security's Acting Secretary, Chad Wolf, tweeted the news on Thursday. "Based on the success of the existing restrictions and close collaboration with Mexico and Canada, @DHSgov will continue to limit non-essential travel at our land ports of entry with Canada and Mexico until Aug. 20," he wrote.

Following the announcement, he added that "close collaboration with our neighbors has allowed us to respond to #COVID19 in a North American approach and slow the travel-related spread of the virus."

Survey: Majority disapprove of Trumps COVID-19 response

The majority of Americans disapprove of the way Trump is handling the pandemic, according to a new survey from the Democracy Fund + UCLA Nationscape Project.

When asked about Trumps handling of the coronavirus pandemic, the majority of Americans (56%) somewhat or strongly disapprove of his performance, while 37% somewhat or strongly approve. That's an 8-point swing from April, when 48% of Americans disapproved and 45% approved of Trump's handling of the coronavirus.

"There's a bunch of dimensions here where Trump has done varying levels of worse compared to how he was doing just a couple months ago," said Robert Griffin, research director for the Democracy Fund Voter Study Group. "In just about everything, youre seeing the sort of decline of how (voters are) sort of assessing his presidency."

Can kids spread the coronavirus? 'Conclusively, without a doubt yes,' experts say

As school districts around the country begin to reveal reopening guidelines for when students return to classrooms in the fall, many parents are concerned about how the coronavirus could impact their children.

The White House has provided confusing statements. Press Secretary Kayleigh McEnany said Thursday "science should not stand in the way" of schools reopening and "science is on our side."

A compilation of studies and articles published in JAMA Pediatrics found most patients under the age of 18 with COVID-19, the illness caused by SARS-CoV-2, tend to have mild symptoms and fully recover within one to two weeks quicker than most adults. | Read more

'Mixed messages from Day One': Rising cases prove summer is no barrier

Any hopes that summers high temperatures might slow the spread of the coronavirus were smashed in June and July by skyrocketing cases across the country, especially in some of the warmest states.

Colin Carlson wasnt a bit surprised that summer heat failed to curb the virus that causes COVID-19, which has claimed more than 138,000 lives in the U.S. That notion, no matter how many times it was repeated, was never supported by science, said Carlson, an assistant research professor at Georgetown University who studies the relationship between climate change and infectious disease.

The optimistic, though inaccurate forecast was among several persistent misconceptions about heat and light, and other issues related to the spread of the virus, that leave epidemiologists like Carlson increasingly frustrated. They see and hear mixed messages and miscommunications all the time, whether its in social media, their circle of friends and family, hastily assembled research papers or the White House. | Read more

Uncounted millions had COVID-19 symptoms, but no positive test

When newscasters announce the latest tally of coronavirus cases, Arthur Hall chuckles and turns to his wife.

"Whatever number they say, Id add one," he said.

Hall is an uncounted survivor of coronavirus.

The 51-year-old school administrator spent five days in the hospital with what doctors told him was severe respiratory distress caused by COVID-19. Although he had tested negative for coronavirus, his Delaware care team said the tests available in early April were unreliable.

Experts estimate tens of millions of Americans contracted coronavirus but are not included in official tallies because of testing errors, misdiagnoses, a sluggish public health response, and ignorance about the disease during its early days in the United States.

The Centers for Disease Control and Prevention (CDC) reported Thursday that there have been about 3.5 million confirmed cases of COVID-19 nationwide and at least 136,000 deaths. The actual number of infections is likely 10 times the number of reported cases, CDC Director Robert Redfield said in a news conference on June 25. | Read more

Can you get infected twice? Experts say possibility is 'certainly real'

Hopes are dimming that "herd immunity" can help stamp out the tenacious global pandemic amid growing concerns that people can be reinfected with COVID-19.

Experts agree that claims of recurring infections require more study since we are only months into the health crisis and evidence has been anecdotal. But if it's proven that recovered patients can "catch" the virus a second time, it would affect their own immunity while also complicating efforts to obtain the Holy Grail of current medical research: effective vaccines.

Recovery from the disease provides antibodies to fight off the infection. The shelf life of those antibodies, however, may be insufficient to protect a patient for very long or promote long-term immunity across populations.

"The possibility of reinfection is certainly real," Dr. Robert Glatter, an emergency physician at Lenox Hill Hospital in New York City, told USA TODAY. "And one that I am seeing repeatedly on the front lines." | Read more

Publix to require masks in all of its stores starting July 21

"With the number of coronavirus cases continuing to grow and current CDC guidance indicating face coverings can help slow the spread of COVID-19, we believe requiring face coverings in our stores is another way we can do our part to help protect our communities," Maria Brous, Publix director of communications, said in a news release.

To help remind customers about the new policy, the stores will have signs posted at entrances and will use the public address system for announcements. The Publix news release states the mask requirement does not apply to young children and those with medical conditions who cannot wear a face mask. Publix delivery or curbside pickup remain options. | Read more

Target, CVS, Walgreens to also require masks at stores nationwide

Target, CVS and Walgreens are the latest retailers to announce that they, too, will require shoppers to wear masks or face coverings at stores nationwide.

The announcements come a day after Walmart, Kroger and Kohl's announced they would require masks starting next week as COVID-19 cases continue to rise. The coronavirus causes the disease COVID-19.

Target's requirement will start Aug. 1, the retailer confirmed to USA TODAY Thursday. It excludes "those with underlying medical conditions and young children."

For shoppers who do not have masks, Target says stores will provide disposable masks at store entrances.

CVS and Walgreens will start requiring masks July 20, the drug store chains announced Thursday. Florida-based grocer Publix also said it will require masks starting July 21. | Read more

In the red zone, leaked federal guidelines suggest Florida take harsher measures

To stop the unrelenting march of the deadly coronavirus, masks should be mandatory and new restrictions should be placed on restaurants, gyms and other businesses in 12 Florida counties and 12 metro areas, according to an unpublished report by the White House Coronavirus Task Force obtained Thursday by the Center for Public Integrity.

Saying Florida is among 18 states in the country that are in the "red zone" according to key measures, the report outlines a series of steps that should be taken to curb the spread of the highly contagious respiratory disease.

The report recommended crackdowns in Palm Beach, Broward, Miami-Dade, Hillsborough, Pinellas, Pasco, Polk, Orange, Collier and Lee counties. It also recommended strict measures be taken in Jacksonville, which is slated to host the Republican National Convention next month. | Read more

>>Food distribution sites: Where to find free food in Palm Beach County

Florida up to 315,775 cases; Palm Beach County up to 23,711

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Coronavirus updates: What you need to know, Saturday, July 18 - Palm Beach Post

Sweden kept its country relatively open during the coronavirus pandemic, but its elderly paid a price – CNBC

Swedish Red Cross volunteers deliver goods to elderly residents in Nacka, near Stockholm on April 29, 2020, to protect them from exposure to the new coronavirus.

Jonathan Nackstrand | AFP | Getty Images

CNBC is looking at how places around the world have tackled Covid-19. By talking to a wide range of experts, as well as everyday citizens, we're taking stock of what's gone well and what hasn't.

Sweden, the fifth subject of our series, has confirmed more than 76,000 cases and more than 5,500 deaths in a population of 10 million. The country did not go into lockdown, instead issuing recommendations about social distancing and working from home while allowing many schools and businesses to stay open. Sweden's mortality rate per 100,000 ishigher than the United States, but it has fared better than the United Kingdom.

Mental health

Sweden kept its country open relative to its neighbors. Some citizens worked from home, and many bicycled rather than taking public transit. Schools, particularly for younger children, remained open, as did many businesses. Because of the lack of enforcement and feeling of normalcy, some citizens say they didn't feel as stressed and anxious as they might have otherwise.

"There's a mental health aspect to lockdown," said Nils Mattisson, founder of Minut, a home monitoring start-up based in London andMalmo, Sweden. "All the fear can have adverse effects on people's health."

Ramping up ICU beds

Back in the spring, Sweden needed far more intensive care beds to care for a potential flood of Covid-19 patients. According to Dr. Jonathan Ilicki, head of medical operations at health start-up Doktor24, the situation did improve somewhat.

"In a short period of time, we did see a huge increase in ICU beds per capita, particularly in Stockholm," he said. Swedish officials quickly ordered the construction of a field hospital in a convention complex just south of the city centerin early April. That hospital closed in June as demand for care eased in the region.

However, there has been some controversy about whether vulnerable elderly patients were provided with these beds when they needed them. Some health-care workers have pointed to a reluctance to admit elderly patients who came down with the virus in their nursing homes.

People play chess at a park in Stockholm on May 29, 2020, amid the coronavirus Covid-19 pandemic.

JONATHAN NACKSTRAND

Daily briefings ... for a while

Sweden's top health authorities provided a daily briefing in the hardest months of the pandemic, which some residents appreciated. But that all changed in late June, when state epidemiologist Anders Tegnell shared that some of the responses were flawed. Updates are now provided just two days a week on Tuesdays and Thursdays. As Bloomberg reports, the briefings had turned into "daily grillings" where Tegnell had to justify his decisions.

Still, citizens say they appreciated the information, particularly when it came from a high-ranking scientist. "It was a source of comfort, and it was helpful and relatively straightforward," said Mattisson.

An engaged and compliant public

Many in Sweden say that public health officials didn't mandate certain behaviors, in part because they didn't need to. Restaurants, bars and salons might have remained open, but they were relatively empty compared with the months before the pandemic. Moreover, many people avoided gathering in large groups, particularly indoors.

"There's a strong trust in Sweden between the government and the people," said Dr. Arvin Yarollahi, the head of the orthopedic department ata hospital group in the country calledNU-sjukvarden.Yarollahi said people took the recommendations seriously, even if they weren't enforced.

"I think we had a response that suited our culture," said Fredrik Soder, CEO of a Swedish health-tech company called Health Integrator. "We take the authorities seriously." Soder said that many people chose to work from home if they could feasibly do so, and they took pains to socially distance. Swedish people were also encouraged to refrain from seeing their elderly relatives, who were at high risk for Covid-19.

That said, public health experts feel that the health officials in Sweden could have pushed for more behaviors to suppress infection. That includes wearing masks, or avoiding discretionary travel.

The economy

Sweden's economy hasn't been unscathed but its contraction seems to be less dramatic than what other countries are facing. A Capital Economics report from mid-June noted that Sweden's GDP would likely shrink 8%, compared with the harder-hit countries with late lockdowns like the U.K., where the contraction would be closer to 25%. That said, other reports have found that Sweden's economy didn't perform all that differently than its neighbors, including Denmark. Despite less stringent lockdowns, unemployment still rose and consumer spending fell.

That's probably because people did take precautions, despite the relatively mild government-imposed restrictions. "We were told to use our common sense," said Soder. "And that meant a lot less shopping at stores, and a lot more staying at home.

State epidemiologist Anders Tegnell of the Public Health Agency of Sweden gives a news conference on a daily update on the coronavirus Covid-19 situation, in Stockholm, Sweden, on June 3, 2020.

ANDERS WIKLUND

PPE and availability of tests

At the onset of the pandemic, some medical staff have noted that there wasn't sufficient personal protective equipment available to keep them safe. There were also urgent calls, and investigations from local journalists, for more PPE to be provided to those who care for the elderly in nursing homes and other facilities.

Similarly, Sweden struggled to ramp up tests and some residents with symptoms have shared with publications like Business Insider as late as June that they couldn't get tested. Some even went to hospitals, only to be asked to wait hours for a test -- and then be told that they weren't available.

"The speed and scale of distribution of PCR-based testing and screening of health-care workers could have been managed better, faster and more efficiently, especially in elderly care," acknowledged Johannes Schildt, CEO of a Sweden-based health-care start-up called Kry.

Policy around masks

Dr. Cheng Xu, a gastroenterologist in Sweden who treated many elderly patients, recalls honeymooning in Asia in late January and spotting many people wearing masks.

Back in Sweden, Xu hasn't seen most citizens sport a face covering in crowded public spaces. And although he stocked up in the early months, anticipating a potential pandemic, he fears that there's less value in him wearing one if others are neglecting to do so.

People enjoy the warm evening at Sundspromenaden in Malmo, Sweden, on May 26, 2020, amid the coronavirus pandemic.

Johan Nilsson | AFP | Getty Images

"There's an aggregated net positive effect," he said. "We need a more significant percentage wearing them, especially those who have symptoms."

The vulnerable elderly population

Care home deaths have accounted for nearly half of all fatalitiesin Sweden, even though the country recommended for people to avoid seeing their elderly relatives. One of the problems is that some staff were not provided adequate protective equipment, and may have gone to work despite having symptoms of the virus.

Prime Minister StefanLofven admitted in June that the country did not go far enough to protect its most vulnerable, and many public health experts agree.

"Sweden kept many of its schools open and the restrictions were mild, but there were a lot of elderly deaths," said Dr. Andrew Azman,a research associate in infectious disease epidemiology at Johns Hopkins Bloomberg School of Public Health, who is based in Switzerland. "It wasn't one of the better responses overall."

Others say that the outcome has brought to light a deeper need for new policies when it comes to caring for nursing home residents. "The lack of nursing staff has been a problem, and there's also poor wages and poor working conditions," said Yarollahi. "Many things have come to the surface and I'm hoping they can get better."

Lack of tracking and data collection in schools

A woman walks through the Kungstradgarden in Stockholm on May 8, 2020, amid the new coronavirus COVID-19 pandemic.

Jonathan NACKSTRAND | AFP

Sweden made a relatively unique decision in keeping schools open, particularly for younger children. Many countries, including the United States, are weighing opening up schools after the summer holiday -- and are eager to learn from countries like Sweden.

But epidemiologists say there wasn't sufficient data collected about infections among school-age children.

"It's really frustrating that we haven't been able to answer some relatively basic questions on transmission and the role of different interventions," Carina King, an infectious disease epidemiologist at the Karolinska Institute told Science Magazine. King shared that her team had been hampered by "the lack of funding, time, and previous experience of conducting this sort of research."

Achieving herd immunity

With its relatively open strategy, some public health experts have wondered whether it resulted in greater immunity. The vision of so-called herd immunity might be a ways off, recent studies suggest.

"We know that large parts of the population are unprotected, as they haven't been infected," Karin Tegmark Wisell, head of the Public Health Agency's microbiology department, sharedwith reporters earlier this week. That means there remains a "large susceptibility in the population," she said.

We asked every expert we spoke to for their score out of 10. (1 is the extremely poor and 10 is ideal.) It's an extremely subjective measurement, but the average across all of them was 5.5.

Sweden was one of the most polarizing countries from our series with some rating it as a 10/10 and others giving it as low as a 2/10. Those who have treated Covid-19 patients tended to dole out the lower scores.

"I think Sweden's health officials missed an opportunity to communicate suggested recommendations more clearly," saidAzman, who gave Sweden a lower score. "They didn't suggest face mask use, for instance."

"I'd give it good marks for transparency, reassuring communications and finding a mix of restrictions that were sustainable in the long term yet effective in slowing the spread of the virus," said Mattisson, who gave Sweden a 7 overall. "But bad marks for not protecting the care homes, not isolating people who arrived from places like Italy sooner and not being smarter about masks."

SEE ALSO:

How the UK fought the coronavirus

How Canada is fighting Covid-19: ramping up PPE production, travel ban from the U.S., and Bonnie Henry.

Why Israel's "second wave" of Covid-19 is worse than its first

How Taiwan beat the coronavirus

Correction:Dr. Arvin Yarollahi is head of the orthopedic department at NU-sjukvarden. An earlier version misspelled his name.

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Sweden kept its country relatively open during the coronavirus pandemic, but its elderly paid a price - CNBC

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Coronavirus in Tennessee: 1,221 active Knox County cases, 982 total recovered cases reported Sunday - WATE 6 On Your Side

Big Techs latest reckoning is coming as it continues to rack up record valuations – MarketWatch

Techs Big Four CEOs should be nervous as they approach a virtual July 27 hearing before the House Judiciary Antitrust Subcommittee.

Apple Inc.s AAPL, -0.20% Tim Cook, Amazon.com Inc.s AMZN, -1.26% Jeff Bezos, Facebook Inc.s FB, +0.45% Mark Zuckerberg and Alphabet Inc.s GOOGL, +0.12% GOOG, -0.16% Sundar Pichai can think of 5 trillion reasons why: Thats the collective market value, in dollars, of their companies. All but Facebook are worth at least $1 trillion.

The fab four have never been worth more, as they gobble up market share and expand into other segments through a flurry of acquisitions. As Apple hurtles toward becoming the first company to reach $2 trillion in market value, shares of Amazon and Alphabet catapulted to record highs after Mizuho analyst James Lee raised his price targets for both, citing jumps in cloud spending in the financial services, retail and health-care industries.

Read more: Amazon, Alphabet stocks rise toward records after Mizuho lifts price targets

See also: Apple $2 trillion? This chart might have you rethinking your investment

The steep ascent of Big Tech, which is fueling a resurgent stock market despite a deepening pandemic, underscores the enduring power of the industry as consumption of it escalates in a work-from-home economy.

This is particularly pronounced among the Mount Rushmore of tech, minus Microsoft Corp. MSFT, -0.51% . Their products and services have become essential for shopping (via Amazon and Google), entertainment (Apple and Googles YouTube), news and how-to tutorials (Google search), and socializing (Facebook). And that doesnt include sharp spikes in the use of smartphones (Apple and Google) and the cloud (Google, Amazon and Microsoft).

If anything, the pandemic has furthered Americans dependence on technology for groceries, goods, communication, entertainment, Rebecca Allensworth, a law professor at Vanderbilt University, told MarketWatch in a phone interview. This is a further opportunity to solidify power of these companies.

How the House Judiciary Antitrust Subcommittee interprets the growing financial power of techs Big Four, and how it sways the subcommittees calculus, remains a closely guarded secret. A staffer declined comment.

Since last June, the subcommittee has been investigating the dominance of a small number of digital platforms and the adequacy of existing antitrust laws and enforcement, Rep. David Cicilline, D-R.I., chairman of the subcommittee, said in a statement. Given the central role these corporations play in the lives of the American people, it is critical that their CEOs are forthcoming.

None of the companies scheduled to testify were willing to talk on the record, but representatives from at least two note a stark contrast between fostering competition and undercutting successful companies that are fueling the U.S. economy and global economic leadership. There is also a sense of Congress shifting blame from its own shortcomings and unpopularity to increasingly powerful tech companies and their influence in a divided society, these people said.

A resulting fear among the companies is potential damage to U.S. economic stalwarts at a time when China has made no secret about its plan to dominate the tech industry and industry standards.

This much is true: All four have been called into the principals office, Allensworth said, and for profoundly different reasons.

Facebook is caught in a vortex of bad news as the Federal Trade Commission mulls its No. 2 standing in digital advertising, aided in large part by its acquisitions of Instagram and WhatsApp. The spread of coronavirus has accelerated the shift in advertising from billboards, newspapers and radio to digital platforms like Facebook, Google and Amazon.

Ironically, antitrust regulators scrutiny comes amid a worldwide boycott of Facebook in July by hundreds of brands including heavyweights Coca-Cola Co. KO, +1.45% , Verizon Communications Inc. VZ, +0.93% , Starbucks Corp. SBUX, -0.30% , Unilever UL, +0.97% , and SAP SAP, +0.74% in protest of hate speech and misinformation that appears on the social media companys digital platforms.

Read more: Facebook considers banning U.S. political ads ahead of election, report says

See also: Here are the major brands that have pulled ads from Facebook

Last week, leaders of four of the organizations coordinating the #StopHateForProfit advertising boycott met with Facebook CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg, Chief Product Officer Chris Cox and others.

Facebook also faces immense pressure over its hands-off policy regarding political advertising, and is reportedly considering a ban on such ads ahead of the U.S. election in November. If it follows through, it could lose out on hundreds of millions of dollars, according to RBC Capital Markets.

Google, which reportedly hopes to avert an EU antitrust investigation into its planned $2.1 billion acquisition of Fitbit Inc. FIT, -2.17% by promising not to use Fitbits health data to help it target ads, appears to be in the crosshairs of Attorney General William Barr as well.

In the coming months, the Justice Department is expected to decide whether to file a lawsuit charging Alphabets Google with abuse of power in the market for advertising technology and search products. The government is also examining allegations that Google abused its dominance over search, according to published reports. Ultimately, a successful suit conceivably could reshape Googles business not to mention a large swath of the economy and put a throttle to several years of unfettered growth in Silicon Valley.

Google hinted in a recent 67-page filing that although it accounts for nearly 30% of spending in the digital ad market worldwide, it isnt enough to overcharge customers and squeeze competitors.

Apple, which is grappling with COVID-19s impact on its retail operations, could be vulnerable too over accusations of how it wields market power. Late last year, email app developer Blix said it had data showing Apple suppressed App Store rankings of products that compete with Apples own apps. In October, Blix sued Apple, alleging patent infringement and antitrust violations.

On its website, Apple says its App Store provides equal opportunities to developers to deliver their apps and services across iPhone, iPad, Mac, Apple TV and Apple Watch.

Amazon competes in a number of defined markets, antitrust experts such as Herbert Hovenkamp at the University of Pennsylvania point out. It is how the company interlinks those markets that has drawn the attention of antitrust investigators.

It all makes for an interesting intersection of politics, economic power and cultural ethos when Cook, Bezos, Zuckerberg and Pichai testify before Congress on July 27. But will it be enough to evince significant change? At least one legal expert continues to have his doubts.

Do they continue to act with impunity? Does the 2020 election change the calculus? There will be marginal changes on both counts, Andrew Jay Schwartzman, senior counselor with the Benton Institute for Broadband & Society, told MarketWatch. I dont see any signs the companies are compelled to make fundamental changes in the course they have been following.

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Big Techs latest reckoning is coming as it continues to rack up record valuations - MarketWatch

Big Tech firms back suing Trump administration over rule that could drive out foreign students – Axios

Google, Facebook, Microsoft and other tech companies are joining the U.S. Chamber of Commerce to push back on the Trump administration's bid to bar foreign students from staying in the U.S. if their colleges are only offering online classes in the fall.

Why it matters: Big Tech and big U.S. business at large rely on attracting top minds from around the world. The companies argue that American education and economic health would suffer if international students are forced out.

Driving the news: The Chamber of Commerce is leading a brief in federal court, filed Monday morning, in support of Harvard and MIT, which sued the Department of Homeland Security last week.

What theyre saying: "These students contribute substantially to the U.S. economy when they are resident in the United States," the parties say in the brief, stating that they will be harmed if the administrations directive goes into effect.

Correction: Due to an editing error, this story mischaracterized the request being made in the brief. The parties want the judge to block or slow ICEs enforcement of the rule, not block ICE from slowing its enforcement. The story has been corrected.

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Big Tech firms back suing Trump administration over rule that could drive out foreign students - Axios

G20 Finance Officials Eye Solution to Digital Tax Row This Year – The New York Times

WASHINGTON/BERLIN Finance officials from the Group of 20 major economies on Saturday vowed to resolve major differences over taxing big tech companies and reach a broad, consensus-based solution on international taxation this year.

The United States has been at loggerheads over the issue with Britain, France and other key allies, who have adopted or are considering digital service taxes as a way to raise revenue from the local operations of big tech companies.

Critics say those firms profit enormously from local markets while making only limited contributions to public coffers, but Washington contends the taxes discriminate against U.S. tech firms such as Google, Facebook and Apple Inc.

The Trump administration this month ratcheted up pressure on France over its 3% digital services tax, saying it would impose additional duties of 25% on French imports valued $1.3 billion but would hold off on implementing the move while talks continued in the Organisation for Economic Co-operation and Development.

G20 finance ministers and central bankers on Saturday acknowledged that the coronavirus pandemic had slowed work toward an international plan, but said they expected concrete proposals to emerge before their next meeting in October.

"We remain committed to ... overcome remaining differences and reaffirm our commitment to reach a global and consensus-based solution this year," they said after a virtual meeting.

After the meeting, German Finance Minister Olaf Scholz said, "Fair taxation of international companies and large digital groups is more urgent than ever."

French Finance Minister Bruno Le Maire said reaching an agreement by year end was "indispensible."

"The (pandemic) crisis proved that these digital giants were the big beneficiaries of the crisis. They must pay their fair portion of tax," he said.

(Reporting by Andrea Shalal in Washington, Christian Kraemer in Berlin, and Leigh Thomas in Paris; editing by Diane Craft and Cynthia Osterman)

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G20 Finance Officials Eye Solution to Digital Tax Row This Year - The New York Times

Earnings and fiscal debate could be catalysts for stocks in the week ahead – CNBC

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020.

Lucas Jackson | Reuters

Investors are braced for a barrage of earnings news, and the debate in Washington around the next stimulus package may also be an important catalyst for markets since it has implications for the economic recovery.

Big tech names, includingMicrosoft, Intel, Twitter and IBM, are among companies reporting in the week ahead, as is high-flying Tesla. Blue chips Coca-Cola, Verizon, American Express and Travelers are also among the dozens of major companies releasing results.

Congress returns from its break and should pick up the pace of negotiations towards a new fiscal stimulus package, which is expected to address aid for state and local governments and enhanced unemployment benefits. Unemployment benefits, including the $600 additional weekly payment now going to millions, is expected to be a hot topic of discussion, as the benefit ends on July 31.

There are just a few items of note on the economic calendar, including existing home sales on Wednesday, unemployment claims data on Thursday and new home sales on Friday.

The spread of the coronavirus will also be closely monitored, as well as any signs of medical progress. The Lancet medical journal is expected to releaseearly stage human trial data Monday on a vaccine developed by Oxford University and AstraZeneca.

Investors also will be watching the market's own dynamics in the week ahead. There is tension within the market between the bubbly run-up of tech and momentum names on the Nasdaq, and the broader market, or S&P 500, which is basically still flat for the year. The Nasdaq is up 17% year to date, but in the past week lagged other indices, turning in a loss, while the Dow and S&P 500 were both higher.

The Nasdaq's outperformance came to anabrupt end Monday, and it has lagged since then. In dramatic fashion, the index rose sharply to new highs, with many big tech names and Tesla also hitting highs. Within the same session, there was a massive reversal in the index and in tech and momentum names, and they closed sharply lower.

Now strategists are watching to see if the froth will be let out slowly or blow off in a big move that takes the rest of the market with it.

"We expect the push and pull of the Nasdaq to continue and have sustained volatility, in our view, throughout the earnings season," said Julian Emanuel, head of equity and derivatives strategy at BTIG. "Volatility could be to the upside, as well as the downside, but in our view, in aggregate, the Nasdaq is likely to correct."

Emanuel said the volatile reversal in the Nasdaq does not bode well for the Nasdaq, and it could see a 10% correction. There's been a surge of retail activity in some of the frothiest names, such as Tesla, which surged from about $1,000 at the end of June to a high of $1,795 during Monday's session. It is since about $300 per share lower.

"The combination of public participation and just incredible valuations makes the sector very, very vulnerable. ... It's the sector with the highest earnings expectations," said Emanuel. "There's virtually nothing that management can say at these valuations that's going to create further upside to these names."

Tesla and Microsoft report earnings Wednesday, and Twitter reports Thursday.

As Congress heads back to Washington in the coming week, expectations are rising that the fiscal stimulus package could be slightly more than Republicans were previously expected to approve.

When Congress broke for the July 4 holiday, there was a big divide on how much stimulus should be added, on top of the $2.4 trillion already adopted. The Democratic proposal was for $3 trillion, while Senate Majority Leader Mitch McConnell said no more than $1 trillion. Now the gulf has narrowed, but House SpeakerNancyPelosi said the $1.3 trillion under discussions is not enough.

Cornerstone Macro's Andy Laperriere said the package could now be $1.5 trillion or more, more than he expected just several weeks ago. He said more money is now expected for state and local governments, local schools, public health, virus testing and payments to support individuals..

"Republicans really want to use this bill to encourage and incentivize businesses and schools to open. But I think the big thing is a month ago, the top priority of Republicans was to keep this bill small," he said.

One of the most controversial elements of the CARES stimulus package was the $600 weekly payment to people who were already collecting unemployment.

The payment is likely to be significantly reduced and then ultimately phased out, but that will only come after compromise."There's going to be some lines-in-the-sand issues, and this is one of them," said Laperriere, head of policy at Cornerstone.

President Donald Trump has said he won't sign the bill unless there is a payroll tax cut, which was previously rejected by Congress. Payroll taxes are paid by both employers and employees, and they fund government programs, including Medicare and Social Security.

Strategists said the market could react to the deliberations if they take longer than expected, or the funds are viewed as insufficient.

Michael Schumacher, Wells Fargo director of rate strategy, said the bond market will focus on how quickly the government plans to payout the stimulus and also the degree to which the Treasury will ultimately have to increase auction sizes to pay for it.

If Congress keeps to its schedule, it needs to approve the package before the end of the month, when it heads to another recess for the entire month of August.

Monday

Earnings: IBM, Halliburton, Zions Bancorp, Cal-Maine Foods, Steel Dynamics, Royal Phillips

Tuesday

Earnings: Coca-Cola, Lockheed Martin, Texas Instruments, Snap, CIT Group, Novartis, Synchrony Financial, UBS, Philip Morris, Paccar, Prologis, United Airlines, Intuitive Surgical, Capital One, Interactive Brokers, Teradyne, iRobot, Canadian National Railway

8:30 a.m. Philadelphia Fed nonmanufacturing PMI

Wednesday

Earnings: Microsoft, Tesla, Discover Financial, CSX, Chipotle, Whirlpool, Kinder Morgan, Equifax, Northern Trust, Biogen, Nasdaq, Check Point Software, KeyCorp, Baker Hughes, Thermo Fisher, Canadian Pacific Railway, Netgear, Suncor

9:00 a.m. FHFA home prices

10:00 a.m. Existing home sales

Thursday

Earnings: AT&T, Travelers, Intel, Twitter, Blackstone, ETRADE, Dow, Union Pacific, American Airlines, Citrix, Kimberly-Clark, Alaska Air, Freeport-McMoRan, Hershey, PulteGroup, Mattel, Verisign, AutoNation, AllianceBernstein, Fifth Third, AutoNation, Roche Holdings, Reliance Steel, Air Products, Daimler, Unilever, Nucor, Quest Diagnostics, Yamana Gold, Skyworks Solution

8:30 a.m. Initial claims

Friday

Earnings: American Express, Verizon, Honeywell, Schlumberger, Equinor, Bloomin' Brands

9:45 a.m.Manufacturing PMI

9:45 a.m. Services PMI

10:00 a.m. New home sales

More:

Earnings and fiscal debate could be catalysts for stocks in the week ahead - CNBC

Exxon has topped North Texas’ biggest-companies list for 3 decades. Now there’s a challenger to the throne – The Dallas Morning News

Exxon Mobil Corp. altered the North Texas business landscape when it moved its corporate headquarters from New York City to Irving in 1989, instantly establishing the oil giant as the regions largest company by revenue.

In the three decades since, its reign at the top has been largely unchallenged as Exxon went on to become the worlds most valuable company. It first gained that lofty title in 2005 and again as recently as 2013, before being pushed aside by the rise of big tech.

By the end of last year, though, it tumbled all the way to 18th in a global ranking, according to an analysis by PricewaterhouseCoopers.

This year, Exxon is at risk of losing the top spot in The Dallas Morning News annual ranking of the 150 largest public companies headquartered in North Texas.

Exxon and the rest of the oil and gas industry are staggering from a mighty one-two punch: a pandemic that zapped energy demand and an oil production standoff between Russia and Saudi Arabia that drove prices down to $20 a barrel earlier this year. Oil prices are now in the $40 range.

Oil averaged $57 a barrel last year, enough to keep Exxon atop The News ranking, despite shedding close to $24 billion in revenue.

Of the nearly two dozen oil and gas companies headquartered locally, just over half managed to pump out a profit last year as the U.S. shale boom lost its sheen. Three other energy companies in last years ranking went bankrupt and sold off assets before 2019 ended.

In all, 113 North Texas companies saw revenue rise last year, including 72 that eclipsed the $1 billion mark, according to data compiled by Bloomberg for The News. A handful even had banner years with triple-digit revenue growth. Plano-based Sharing Services Global Corp. led the way, raising its top line by 923.85% year-over-year.

This year, few companies are escaping the COVID-19 economic fallout. Most are cutting staff and capital spending, slicing employee and executive salaries, and delaying or canceling dividend payments to shareholders. Next years ranking will likely become a battle of survivors.

For Exxon, 2019 is already a distant memory overshadowed by a health crisis thats creating economic havoc across the globe. To control COVID-19, states like Texas enacted stay-at-home orders, bringing car, truck and plane travel to a screeching halt.

Early on, someone joked that because of the stay-at-home orders, they were getting three weeks to the gallon, said Bruce Newsome, a Haynes and Boone lawyer with more than 20 years experience in the energy field.

Demand is just beginning to bounce back. The four-week average gasoline supply is now less than 10% below levels from a year earlier, compared with 44% lower in April, according to Energy Information Administration data.

Texas oil and gas companies are accustomed to boom-and-bust cycles.

Coming into the pandemic, producers had to crank out 100 million barrels of oil a day globally to keep prices steady, said Kumar Venkataraman, a finance professor and academic director of the energy program at Southern Methodist University.

When prices dropped and people stopped traveling, global demand fell to around 82 million barrels of oil a day, leaving producers with an excess supply.

Many of the U.S. independent producers as well as major oil companies who respond to the economics of producing oil have cut down their supply, Venkataraman said.

At roughly the same time, an oil price war broke out between Russia and Saudi Arabia when Russia refused OPECs request to cut oil production. By March 23, oil prices had plummeted to $21 a barrel and even briefly turned negative on April 20.

By July, OPEC and U.S. producers had cut supply to about 90 million barrels a day, Venkataraman said.

Exxons revenue had already fallen 8.5% last year, from $279 billion in 2018 to $255 billion. In the first three months of this year, just before the pandemics deepest economic pain, the companys revenue came in at $56 billion or nearly $7.5 billion less than the same period a year earlier. It recorded its first quarterly loss in 32 years.

Based on its performance so far, Exxons 2020 revenue is projected to slide to $176 billion, an astonishing $80 billion drop, according to a June estimate by JPMorgan analysts. Exxon reports second-quarter results July 31, potentially giving a clearer picture of the pandemics toll.

So barring a significant second-half surge in oil prices, who stands to move up in The News ranking? Its one of the regions newest Fortune 500 companies.

McKesson Corp., an Irving-based pharmaceutical distribution company that relocated its headquarters from California in 2019, has been on an uptick due to the COVID-19 pandemic. It saw 12% revenue growth in the first three months of this year as a result of branded drug price increases and pandemic-driven orders from retail pharmacies.

Its $214 billion in revenue for the 2019 fiscal year grew to $231 billion for its 2020 fiscal year, which ended March 31. McKessons 2019 fiscal year results were included in The News ranking.

For Exxon to retain its No. 1 status, the oil and gas explorers 2020 revenue will have to top $231 billion.

It would not surprise me if the revenues of McKesson are higher than they are for Exxon, said Bud Weinstein, an economist and associate director of SMUs Maguire Energy Institute.

This is again a reflection of the problems facing the energy sector and the falling demand for energy and energy products, while at the same time, McKesson and other companies that are into medical products like pharmaceuticals, their stocks have held up pretty well.

AT&T, the regions perennial runner-up to Exxon before McKessons arrival, could also pass up the oil king. Bloomberg analysts estimate AT&Ts 2020 revenue will come in between $170 billion and $179 billion. Hitting the high end of the range could push Exxon down to third.

But AT&T is facing headwinds of its own. When it released first-quarter results in April, AT&T said its revenue was down $2 billion from the same period last year $42.8 billion vs. $44.8 billion. And in June, the company embarked on a $6 billion cost-cutting plan that includes closing 250 stores and cutting 1,300 jobs.

While the coronavirus increased use of AT&Ts broadband and wireless networks and its content platforms, it also hit the companys advertising revenue.

A third of AT&Ts business is through Turner Broadcasting System, which includes television channels such as CNN, TNT and Cartoon Network, said Bloomberg Intelligence analyst John Butler, who closely follows AT&T. Warner Bros. television and film production was also halted due to the pandemic.

Theres been a big advertising revenue recession, Butler said. Satellites have been under pressure from cord-cutting, and now with the loss of sports programming, [COVID-19] is not only hitting the advertising markets hard, but its also hitting paid TV.

Both small and large oil companies are feeling the pandemic pinch.

Law firm Haynes and Boone has monitored North American oil and gas producer bankruptcies since 2015. Over the past five years, 226 producers filed for bankruptcy, according to the firms data. Texas producers accounted for 106 of those.

The energy industry was already having to change going into the pandemic, and this is going to accelerate that change, Newsome said.

In the past month, Fort Worth-based Lilis Energy and Oklahoma City-based fracking pioneer Chesapeake Energy sought bankruptcy protection. Oil major Royal Dutch Shell PLC wrote down the value of its assets by up to $22 billion on June 30, citing lower energy prices and a lack of demand during the pandemic. BP PLC did the same in early June.

Oil and gas assets are valued on how much a company holds in reserves. Reserves are estimated on an anticipated price of a barrel of oil. Companies reduce the value of assets when oil prices fall below predictions, said Michael Cooper, a Haynes and Boone energy lawyer who has worked in the industry for more than 40 years.

Cooper said he expects Exxon to eventually do the same, as even the oil patchs biggest players prepare for an uncertain future.

Theres no way I see this being like it has been in the past, Cooper said. Itll be a slow recovery. Slower than anything weve seen in the past.

Exxon did not respond to The News interview request, but CEO Darren Woods addressed the pandemic during a call with investors in late May when the company cut its spending in the oil-rich Permian Basin.

On average, we estimate that global demand for oil in 2020 to be down roughly 10%, Woods told investors. We expect demand for natural gas to be down less than 5%.

With the industrys boom periods in mind, Weinstein said he wont be surprised if Exxon loses the top spot and then regains it in the future after COVID-19 economic disruptions level out.

Exxons not going away, Weinstein said. Energy is kind of the lubricant for the national and global economy.

*J.C. Penney, Dean Foods, Pier 1 and Tuesday Morning filed for bankruptcy in 2020.

**Alliance Data and Howard Hughes Corp. moved their headquarters out of D-FW during 2019.

**Addus HomeCares employee total is as of Dec. 31, 2018.

****TPG Pace Holdings merged with Accel Entertainment in November 2019 and its headquarters moved to Illinois.

Fluor Corp., Hallmark Financial Services Inc. and Tandy Leather Factory Inc. delayed filing 2019 annual reports.

See the article here:

Exxon has topped North Texas' biggest-companies list for 3 decades. Now there's a challenger to the throne - The Dallas Morning News

Here are all the battlefronts TikTok is currently fighting on – KTVZ

In just three years since its launch outside of China, TikToks popularity has skyrocketed.

The video-sharing social media platform is the No. 1 app on the Google Play Store and number two on Apple App Store, and has been downloaded more than 165 million times by US consumers. The app is now a source for everything from viral dance routines to pranks on the President, and has propped up the plush lifestyles of teen influencers living in Los Angeles collab houses.

But TikToks success and its status as the first Chinese-owned social media platform to garner widespread adoption outside its home market is looking increasingly tenuous.

US officials say theyre considering banning the app over security concerns related to TikTok and its parent company, Beijing-based internet company ByteDance, following a similar decision by India. In the meantime, at least one US corporation is already taking action to restrict use of the app on company phones. The situation has TikTok scrambling to try to prove its reliability.

At the same time, the company joined other big tech firms in pulling out of Hong Kong after China imposed a controversial national security law. And TikToks competitors have proven eager to pounce on its challenges and try to win over its audience with similar offerings.

One of the things that troubles me about it is, its something that is counter to the spirit of the internet, said Mark Lemley, a law professor at Stanford who teaches internet law.

I think something significant is lost there if the only apps we get are US apps or apps from approved countries. We lose out as consumers on technology that people like but in the long run the US also loses out economically, because we have been the great driver of the Internet.

TikTok has already lost access to one of the worlds largest digital markets.

India banned TikTok and 58 other Chinese apps last month following a border clash between India and China, citing a threat to sovereignty and integrity. The app had been downloaded in India more than 660 million times since 2017, and some of its top stars live in the country.

Now, Trump administration officials are considering a similar measure.

Secretary of State Mike Pompeo told Fox News Laura Ingraham earlier this month that the White House is looking at banning Chinese apps, including TikTok, and said US officials are taking this very seriously. Pompeo added that people should only download TikTok if you want your private information in the hands of the Chinese Communist Party.

On Wednesday, Pompeo said, we hope to have a set of decisions shortly with regards to the app.

Were working through a process where all the relevant agencies and the private sector are getting to say their piece, Pompeo said in a live interview with The Hill. Whether its Tiktok or any of the other Chinese communications platforms, apps, infrastructure, this administration has taken seriously the requirement to protect the American people from having their information end up in the hands of the Chinese Communist Party.

US politicians have repeatedly criticized TikTok, accusing it of being a threat to national security because its parent company is based in China and could be compelled to share data with the Chinese government. TikTok has called the concerns unfounded and security experts say its not clear that the app presents a true national security concern.

Talk of the potential ban also comes amid larger tensions between the United States and China over technology.

Its not just the Trump administration lawmakers, including Missouri Republican Sen. Josh Hawley, have also introduced legislation that would ban TikTok from US government devices. Both Democratic and Republican national committees have warned their staffs about using the app.

Wells Fargo on Monday banned its employees from using the app on company devices because of security concerns.

Due to concerns about TikToks privacy and security controls and practices, and because corporate-owned devices should be used for company business only, we have directed those employees to remove the app from their devices, a statement from a Wells Fargo spokesperson said.

The Wells Fargo decision came after Amazon told employees to delete TikTok from work phones but Amazon quickly backtracked on the request, saying it had been sent in error.

For its part, TikTok says it operates separately from ByteDance.

TikToks head of US public policy Michael Beckerman said in a statement to CNN there is a lot of misinformation about TikTok right now.

The company says it stores US user data in Virginia, with backup in Singapore, and we work to minimize access across regions, Beckerman said. TikTok also hired an American CEO earlier this year, Disney veteran Kevin Mayer, a move widely seen at least in part as an effort to win over US lawmakers.

But it appears even those steps may not be enough to alleviate the security concerns that threaten to undermine its growth, so the company is now considering a corporate restructuring aimed further distancing itself from China.

The changes could include establishing a headquarters for the video app outside of China or a new management board to distance the service from the country, according to The Wall Street Journal.

The company is also quickly expanding its presence in Washington DC. Beckerman said the company is creating so-called Transparency Centers in the nations capital and in Los Angeles so that lawmakers and invited experts can see for themselves how we moderate content and keep our users data secure.

We remain fully committed to protecting our users privacy and security as we build a platform that inspires creativity and brings joy for hundreds of millions of people around the world, a TikTok spokesperson said in a statement to CNN last week.

Stanfords Lemley said the apps dedicated teen fanbase could also end up proving helpful.

Is there a revolt among the teenagers of the world? Lemley said. I say that jokingly, but only half jokingly. If a bunch of congressmen go to their teenagers and say theyve banned their favorite app, there might be a lot of pushback and that could matter.

Facebooks efforts to overtake TikTok with a copycat app have so far been unsuccessful, but new bans could change that.

Days after India banned TikTok, Facebook-owned Instagram began testing its own app, Reels, in the country. On Friday, Instagram said its preparing to launch reels in the United States and 50 other countries, just one week after it began testing the platform in India.

Indian companies are also looking to benefit. One homegrown video-sharing app, Roposo, said that before the TikTok ban was announced, it had recorded 50 million downloads since its 2014 launch. After the announcement, the company said it received another 22 million downloads in just two days.

And while TikTok is still fully functional in the United States, some creators on the app are already trying to transition their audiences to other platforms, including Instagram and YouTube, in anticipation of a ban.

YouTube plans to launch a competitor to TikTok, called Shorts, by the end of the year, according to The Information.

Continued here:

Here are all the battlefronts TikTok is currently fighting on - KTVZ

The Problem with Big Ideas (and Some Ramblings on Virtual Desktops & Tech’s Blurred Lines) – www.waterstechnology.com

This week, Im going to spend a fair amount of time talking about one story, but only because I think that its premise bleeds into the same underlying concept (and challenge) that face other large, industry-wide projects. Also, there are interesting things happening in the virtual desktop space, and there seems to be a lot more crossing-the-street when it comes to tech in the retail and capital market spaces. Lets get to it.

Back in 2017, the International Swaps and Derivatives Association (Isda) announced that it would work on defining processes and procedures in trading to a standard, machine-readable format, known as the common domain model, or CDM. At the time, Isda CEO Scott OMalia had this to say: The system as it stands is creaky, over-complicated, and outdated, [which increases] cost and compliance burdens for all market participants. New technologies can alleviate many of these problems, but first we need a reform of current standards and practices.

The idea makes sense: post-trades plumbing is everything that Isda says it is, and the CDM couldtransform data reporting across derivatives trading. Yet trying to solve one old problem inevitably runs into two others: how much it will cost, and who is going to pay for it? While Isda estimates that the CDM could save broker-dealers $3 billion a year in reconciliation costs,the bill for upgrading banks infrastructure could run into nine figures.

This week, Barclays released a new paper that addresses this issue, and puts the onus on exchanges and financial market infrastructures (FMI), such as clearinghouses. The banks director of research and engineering, Lee Braine, tells WatersTechnology that some banks are having trouble making a case internally for a project that promises to produce savings on post-trade processes, but generates no revenue. If an FMI leads the charge on driving adoption by offering new products or services that require CDM compatibility to access, that could help convince banks, he suggests.

The business-case challenge is not to persuade all the broker-dealers to migrate off existing functioning internal systems. It is merely to add new services, and thats an easier sell, says Braine, who, for my money, might be the best person to talk to in the capital markets on the subject of future technology.

Some reticence on the part of the banks is, perhaps, understandable. After all, the history of capital-markets technology is replete with projects that promise the world in terms of efficiency, but require up-front investment to make them a reality. Few end up achieving those goals.

For the CDM, a critical mass of banks is needed, and as our colleagues at Risk.net reported last year, the project is seeing patchy participation coming from the sell side. On the Isda calls, I would expect a healthy number of nine to 10 banks engaged, but there are less than half that. It doesnt work with just one or two banksit needs critical mass, one source told Risk. Isda refuted that tally, but it also didnt provide a number for how many banks were on the calls.

The Barclays paper lays out eight options that the industry could take to tackle inconsistent data and processes, as well as duplicated data, in the post-trade lifecycle.Its definitely worth giving this article a read, as it also features awhos who of the heavy hitters in this area. But, again, the key is going to be bank buy-in. From the story:A senior executive at another investment bank talks of the vast amount of money it would take to reconfigure post-trade plumbing and argues savings might not be felt for decades. He says: The cost of moving off your existing expensive legacy to this new stuff, the business case is like 20 years payback you cant quite justify the economics.

I also want to hit on two things that have nothing to do with that CDM story, but also track with the notion that the best laid plans of market-structure experts often go awry.

Naturally, the Consolidated Audit Trailaka, the CATcomes to mind. In 2012, following the 2010 Flash Crash, the US Securities and Exchange Commission (SEC) approved Rule 613, mandating the National Market System exchanges to begin work on a comprehensive audit trail of market activity. A full decade after the Flash Crash, the CAT is now live after a litany of delays and issues creating the actual platform. In private, when you talk to ops and compliance folks at the broker-dealers, theyre nonplussed, to say the very least, with the way it has been carried out.

With this thing finally starting to creak forward, were still going to have to wait some time to see if the output was worth the effort.

I also cant help but think about the Australian Securities Exchanges (ASX) distributed-ledger technology (DLT) replacement of its Clearing House Electronic Subregister System (CHESS). (That a lot of acronyms in one sentencesorry.) If successful, in the equity market it would be a major breakthrough of that technology in one of the major asset classes, said Axel Pierron at consultancy Opimas back in 2017. At the end of June the exchange operator set a new go-live date of April 2022, which amounts to a 12-month delay from the original target. Obviously and fairly, the pandemic was cited as a reason for the delay. But its also true that when the idea of a DLT replacement was first unveiled in 2016, market participants complained that implementing a shared-ledger environment wouldnt address their current needsits a technology shift that doesnt bring any upgrade at this point, Pierron told WatersTechnology.

When asked directly about participant concerns about the need for a DLT replacementagain, in 2017Cliff Richards, general manager for equity post-trade services at ASX, said he understood these concerns, but there was appetite for the project as exchange clients were also examining the potential of the technology.

Its that last point that is interesting. Yes, at the height of blockchain mania in 2017, financial institutions of all stripes were looking at DLT, either individually or as part of a consortium. But since then, some firms are having second thoughts about the value of DLT-based platform replacements.

You have to understand something about me: I care most about the people who work in tech and data, so I often wont look to defend these sweeping industry projects because at the end of the day, its tech and ops who most often take it on the chin.

Hey, weve got this wonderful initiative that will save your bank a lot of money down the line, but its going to cost some upfront investment and hundreds of working-group calls.

Oh, cool, just what I need because I dont have much going on, except for these 12 other reg reporting projects, were trying to switch out our OMS, our CEO wants us to explore blockchain technology, the PMs want me to integrate a half-dozen alternative datasets, everybody is bitching that this new vendor analytics platform that we bought doesnt integrate with our EMS, and theres an effing pandemic going on and everyone is working remotelyyou know, except for me, because I have to come in and make sure the goddamn lights stay on. So please, do tell me about this wonderful new idea you have for the exciting world of post-trade technology.

The CDM, CAT, CHESS, as well as any number of regulatory initiatives will ultimately make the markets stronger, more efficient, and saferif successful. From my seat, it feels like the industry often hitches its wagon to an idea, and then figures out what comes next as it goes. While that works well for exciting internal innovation projects that generate alpha for an individual firm, industry projects too oftenit would seem to meget stuck in the mud because theres limited excitement about these projects among the bank tech and ops rank and file, and theyre the ones ultimately charged with building the plumbing for these projects.

Ive also never worked in tech and opsI just drink with themso feel free to tell me if Im way off base: [emailprotected].

Moving on, as far as the day-to-day is concerned, interdealer broker Compagnie Financire Tradition (CFT) is considering moving to a fully virtual-desktop environment, after making a big investment in remote-working technology during the coronavirus pandemic. After shipping hardware to about 600 employees during the months of March and April, Yann LHuillier, CFT group chief information officer, had this to say to Jo Wright: I reviewed the costs and found we spent the equivalent of two-and-a-half years of work in a month. Everyone was on it, including me, building laptops and PCs and anything else we needed to work remotely. It was intense.

One other interesting thing from that story is the fact that IT staff still had to be in the office due to those unforeseen problems. We had issues one evening when we lost power on a number of PCs and we thought we had a network outage or something. It happened that it was the cleaning staff who knocked down a power supply, LHuillier said.

That shit does actually happenthats crazy. (Imagine the fear that must sweep across a cleaners face after they disconnect a power strip and see a bunch of monitors shut off.)

Also, last month, Mike Dargan, head of group technology at UBS, told Jo about how the firm migrated staff to a VDI setup some years ago, and Dargan says it gave the investment bank an edge during lockdown. Thats also a really informative and entertaining read.

Our veteran market data reporter Max Bowie gave his thoughts on how the industry is warming up to on-demand data as new technologies are coming to the forefront.

Max also wrote about how alt data provider Apteo has rolled out a new platform called Predictive Insights, which provides key indicators of a companys financial performance. The vendor anticipates it will help the company to broaden its client base and expand its business to sectors outside financial services.

From the story: Apteo has built a foundation of core functionality that can be used regardless of the data type being interrogated or the industry that the client works in, and can be tailored to the needs of financial professionals or people working in other sectors.

This particular part of the story jumped out for me because it loosely ties into two other stories we published this week. The first one was about how Finos, the open-source nonprofit, is looking to expand into the retail banking space; the second was about how alt data provider TruFactor, which first specialized in urban planning and ad targeting for telco companies, is now in talks with buy-side firms as it looks to expand into the capital markets.

I was thinking that as more banks and asset managers turn to the major public cloud providersthanks in part to the industrys embrace of open-source tools and APIsand as the alternative data space continues to explode, were going to see tech and data providers look to expand their sectors of coverage and not be so industry-specific.

Max says that he believes were seeing the emergence of generic business intelligence solutions that anyone from any background can use for any function, and integrate any dataset.Max has a lot more experience than me, so Ill let him have the final word. See you next Sunday.

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The Problem with Big Ideas (and Some Ramblings on Virtual Desktops & Tech's Blurred Lines) - http://www.waterstechnology.com

Congress has the legal power to investigate Silicon Valley. Let’s make it count – The Guardian

In the last decision of the 2019-2020 supreme court term, Trump v Mazars, John Roberts outdid himself in being John Roberts. He authored a 7-2 decision in which he appears to stand up against Donald Trumps lawlessness, by clarifying that Congress can issue subpoenas for Trump financial documents. However, the congressional power is constrained by a new, vague, four-part test for courts to use in approving subpoenas for presidential documents. Roberts grandly reaffirmed congressional power to investigate the executive branch in theory, while making it harder in practice. He presented himself as the sober, rule-of-law judge, calling balls and strikes in the childish conflict between Congress and the executive branch while giving himself more power.

Yet theres one big silver lining in Mazars: while shifting power from Congress to the courts in executive branch investigations, it gave Congress a huge green light for investigations into big corporations. According to the logic of the opinion, Congress is at the peak of its power when investigating economic behavior in service of prospective legislation.

Democratic Congress members should seize the moment. Trump is a major problem, but so too are corporate monopolies, and we need Congress working at full capacity to keep our democracy from both being devoured and drowning. In other words: we need Nancy Pelosi and the House judiciary committee to take the hammer that the supreme court just gave them and use it to investigate corporate malfeasance, and then pass major new legislation to rein in corporate and monopolistic abuses.

Will the big tech leaders dictate the terms of engagement, or will Congress?

The opinion came down just in time for one of the biggest congressional corporate showdowns in a decade. On 27 July, the congressional antitrust subcommittee is holding a major hearing with Jeff Bezos, Mark Zuckerberg, Sundar Pichai, and Tim Cook, the capstone of a year-long investigation into big tech companies. It is the first major antitrust investigation in 50 years. The goal of the investigation and the hearing is to understand how these famously opaque companies work, and to propose major new legislation in order to curtail abuses that are not currently illegal, but bad for our democracy and economy.

One big mystery surrounds the hearing: will the big tech leaders dictate the terms of engagement, or will Congress? In the past, when big tech has been allowed to design its own investigations, the results have been embarrassing: remember when Zuckerberg appeared before the Senate, orchestrated a day of five-minute questions, refusing followups, and senators started begging him to support their pet legislation?

It is critical that this hearing be conducted in a way that allows the subcommittee to grill each CEO individually, with time to dig into matters and serve followup questions. Big tech, on the other hand, wants the hearing to be anticlimactic, to turn this meaningful and important moment into an embarrassing one for Congress. Which will it be?

This is where Congresss subpoena power comes in. Because of the legal clarity provided by the Mazars decision, Congress holds the upper hand in any negotiation. It can demand whatever format it needs to pursue a real, fact-based, serious investigation. If Bezos says no, hell see a subpoena on his desk, and courts ready to enforce it.

Because the format hasnt been announced, it is possible that the big tech companies are playing chicken, threatening to pull out if they dont get the cushiest possible format limited questions, all the CEOs on one panel. But Mazars makes it clear that their threats are bluffs: the supreme court said Congresss power to hold them accountable is broad and indispensable.

The limits on this power that Roberts imposes due to Congress investigating the executive dont apply in the corporate setting at all. In this big tech investigation, Congress is operating right at the heart of its investigative role.

Last summer, the committee sent the big tech companies a series of queries about how their businesses operate. The companies answered some questions but were hiding the ball on others. Answers to these, and other questions, play a critical role in informing prospective legislation. The antitrust subcommittee is actively considering what new antitrust laws should be passed; it is their job and responsibility to ask.

Do we cede more power to the monopolists, or does Congress make clear who is in charge?

The chair of the antitrust subcommittee, David Cicilline, has been fierce and unbowed in his investigations. When Bezos said he wouldnt testify, Cicilline tweeted: We have asked Mr Bezos to testify before the US Congress about Amazons troubling business practices and false statement, and we expect him to do so. Whether he does so voluntarily or by subpoena is his choice. But the subpoena decision is not up to Cicilline: due to House rules, the decision to issue a subpoena falls to Pelosi and the House judiciary chairman, Jerry Nadler.

We know what a good hearing looks like: each CEO alone, in person, with sufficient time for Congress people to develop real lines of questioning, and plenty of opportunities for followup. The inverse is true: a bad hearing is all the CEOs together, with five minutes per Congress member.

Do we cede more power to the monopolists, or does Congress make clear who is in charge? What we dont want is theater: a hearing where four of the most powerful men in world history show up in theory, but use format to avoid hard fact questions and follow up, get the veneer of being good citizens and, with a big wink and nod to the rest of us, tell everyone who is really in charge.

The precedent matters here, too. If Congress folds when one CEO demands theater instead of investigation, what do you think the next CEO will do? Weakness begets weakness.

One of the big reasons for the hearing in the first place is that big tech has way too much power and has become a private, for-profit regulator of our communications system, our markets, and our democracy. If Congress submits when big tech asks for kinder, gentler questions, the symbolism is too on the nose for comfort.

Congress should use all the power the court just gave it.

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Congress has the legal power to investigate Silicon Valley. Let's make it count - The Guardian

Advertiser alliance, media companies, and Big Tech to collude and create a definition of hate speech – Reclaim The Net

The Global Alliance for Responsible Media (GARM), an alliance of advertisers, media companies, and Big Tech, have decided to find a mutual definition of hate speech. Social media companies have been under heavy criticism from politicians and legacy media outlets over their hate speech policies in recent times andGARM hopes that a mutual definition of hate speech across the industry will help address the supposed issue of moderation.

GARM was created in 2019 during the Cannes Lions Festival to help members with brand safety. Members include Big Tech companies such as Google, Facebook, and Twitter, legacy media companies such as NBC, and big advertisers such as Unilever and Procter & Gamble.

Advertising associations such as the Interactive Advertising Bureau and the Association of National Advertisers, and executives from ad agencies are also part of the alliance.

Over the past few months, GARM has been collaborating with big advertisers to create standards that address brand safety. They say an ad appearing next to harmful content compromises brand safety.

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According to Axios, Carolyn Everson, Facebooks VP of Global Marketing Solutions, alerted advertisers of GARM plans through a note. Everson told advertisers that the alliance had identified areas that need immediate action, such as definitions of harmful content.

GARM has arrived at 11 standard definitions of harmful content, which focus on hate speech and acts of aggression. The alliance plans to align on those definitions in August.

Everson also told advertisers that Facebook would soon be providing an update on how it ensures ads do not appear next to harmful content.

GARM, which is a member of the World Federation of Advertisers, holds a lot of meetings to discuss issues in the world of advertising. What the alliance recommends are not rules that all members should follow. The recommendations are simply standards the industry should consider to tackle various challenges.

Additionally, social media platforms still maintain the right to moderate hate speech in whatever way they see fit. However, most of them seem committed to GARM.

A Twitter rep said that it is an active GARM member, supports the movement towards industry standards and frameworks for content monetization, and is committed to ongoing work with industry leaders to find solutions to promote healthy public conversation.

YouTube said it remains committed to working with GARM and the industry to identify and treat harmful content in a consistent way in order to build a more sustainable and healthy, digital ecosystem for everyone. However, as the spokesperson noted, it still has the right to implement its own unique hate speech policies, and can, in some cases, define hate speech more broadly.

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Advertiser alliance, media companies, and Big Tech to collude and create a definition of hate speech - Reclaim The Net

Staten Island Home of the Week: 1901, Victorian, steps from the N.Y. Harbor shoreline, $1.5M – SILive.com

STATEN ISLAND, N.Y. -- This four-bedroom, three-bathroom home is located on 20 Hylan Blvd., has been masterfully restored over 25 years by its current owner and showcases true pride of ownership.

It is priced at $1,449,000 according to the listing on SILive.com.

SIBOR

The listing on Staten Island Multiple Listing Service at SIBOR.com states that the home set in the Fort Wadsworth neighborhood, is just steps from the shoreline of the N.Y. Harbor, and the home enjoys a water view from the covered front porch and nearly all interior living spaces.

SIBOR

The property is surrounded by Alice Austen Park on all sides and is directly adjacent to the historic Alice Austen House and museum.

SIBOR

Nearly all the woodwork extending from the foyer entry to every crevice of the home is original to the time it was first built yet features 21st century modern amenities, as listed.

Anthony Volpe of Laird Klein Realty LLC, is the listing agent. (Courtesy Staten Island Board of Realtors)

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Staten Island Home of the Week: 1901, Victorian, steps from the N.Y. Harbor shoreline, $1.5M - SILive.com

Quincy man faces charges after wreck near Rock Island kills a passenger in his car – NCWLIFE News

A Quincy man faces vehicular homicide charges after a wreck on Highway 28 Saturday evening east of Rock Island that killed a passenger in his vehicle.

The identity of the 36-year-old victim in the crash has not yet been released.

JesusIbarrabarragan, 41, is suspected of being under the influence when he wasdriving a 2001 Nissan Maxima west on the highway, drifted to the right shoulder,overcorrected and crossed the center line.

Hisvehicle was then hit by a 2015 Chevrolet Colorado being driven by ZacharyTurner, 30, of Quincy. Turners pickup then went over the guardrail and came torest on the south shoulder of the highway, according to the Washington StatePatrol.

Thevictim was dead at the scene.

Both Ibarrabarragan, who also faces a vehicular assault charge, and Turner were transported to Central Washington Hospital in Wenatchee with undisclosed injuries.

The accident happened about 7:36 p.m. at milepost 16 about eight moles east of Rock Island and caused traffic backups into early Sunday morning.

Theroadway was cleared of the accident about 12:30 a.m. but a disabled semiunrelated to the wreck blocked the eastbound lane until 2:17 a.m., the WSP said.

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Quincy man faces charges after wreck near Rock Island kills a passenger in his car - NCWLIFE News

Heat, air quality advisory issued for Staten Island Sunday – SILive.com

STATEN ISLAND, N.Y. -- An air quality advisory has been issued by the state Department of Environmental Conservation (DEC) for Staten Island for Sunday, according to AccuWeather.

The advisory extends from 10 a.m. to 11 p.m.

This comes after extreme heat is expected to hit the New York City area Sunday.

The advisory says that air quality levels in outdoor air are expected to be greater than the index value of 100.

Based on expected humidity, New York City may reach a heat index of 103 degrees between Sunday and Monday, according to the National Weather Service.

The advisory also mentions that pollution levels are expected to be elevated, which causes health concerns. Individuals who are looking to do strenuous outdoor physical activity are asked to reduce it, as those with preexisting respiratory problems are at risk, according to an alert put out by Notify NYC.

COOLING CENTERS

As the city continues its response to COVID-19, social distancing guidelines have been implemented to ensure the safety of any New Yorker who visits a cooling center to seek relief from the heat, according to city Emergency Management Department and the city Health Department. Face coverings must be worn at all times inside cooling centers, and attendees must adhere to social distancing guidelines of six feet or more, the Health Department said.

A citywide map of cooling elements can be found online at Cool It! NYC. To find your nearest cooling center, call 311 or visit the citys Cooling Center Finder. DOTs Open Streets also highlights each Cool Street across the city.

COOL STREETS

The city recently unveiled the first set of Cool Streets for this summer, announcing expanded cooling options on existing Open Streets in the most heat-burdened parts of New York City. The Cool It! NYC program prioritizes new cooling options on blocks in vulnerable neighborhoods with the highest tree-based shade and fire hydrants with spray caps, according to NYC Emergency Management. During heat advisories, NYCDEP and FDNY will proactively install spray caps on these streets hydrants to ensure every New Yorker living in a heat-burdened community is within 1/4 mile of an outdoor cooling element.

NYC Emergency Management released tips for protection against the heat:

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Heat, air quality advisory issued for Staten Island Sunday - SILive.com

Coast Guard rescues campers from Sleeping Bear Dunes island after unexpected 3-day stay – MLive.com

NORTH MANITOU ISLAND, MI Two campers were rescued from North Manitou Island this week after their boat ran aground, stranding them for three days.

U.S. Coast Guard Air Station Traverse City used a helicopter and a basket to hoist the man and woman to safety on Sunday, July 12.

They had spent the night there and woke up the next morning to find their boat aground, turning an overnight trip into three days spent on the island, officials said in a Facebook post.

Waves had pushed their anchored boat onto shore, preventing them from leaving the island within the Sleeping Bear Dunes National Lakeshore park, officials said.

There is currently no ferry service to the island, and large waves prevented other boats from reaching the stranded campers. With other resources unable to reach them, Air Station Traverse City stepped in to rescue them via helicopter.

RELATED: Ferry service taking passengers to Sleeping Bears Manitou Islands wont run this year

This case is a great reminder to be prepared for the worst-case scenario, and always tell someone where youll be going and when you plan to return, officials said.

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Coast Guard rescues campers from Sleeping Bear Dunes island after unexpected 3-day stay - MLive.com

Good news: Staten Island man helps recover lost chain in ocean – SILive.com

STATEN ISLAND, N.Y. -- When Louis DeFeo learned that a recent eighth-grade graduate, Peter, lost his chain and crucifix in the ocean at Rockaway Beach, he drove to Queens on Friday night to help search for it.

DeFeo of Annadale is part of three local metal detectors and treasure hunter groups, who use metal detectors, magnet fishing, prospecting, scrapping, scuba diving to enjoy history and nature. They also enjoy hunting for and finding treasures.

Aside from looking for treasures, DeFeo says the group helps recover lost items.

The other night a young gentleman was either boogie boarding or surfing. His chain came off that he got three weeks ago, so his family and their friends Googled how to get in touch with someone who can recover it and they contacted my friend Merrill [Kazanjian], who asked us all in our little group to come out there, DeFeo said.

DeFeo and Kazanjian, who lives on Long Island, were the only ones available to go search for the missing chain and crucifix. After arriving around 10 p.m. Friday night, DeFeo was able to find the chain and crucifix in the water within five minutes of meeting the family and seeing the area.

They [the family] were totally ecstatic, DeFeo said. The father actually said he went there twice during low-tide -- he didnt have a metal detector -- and he couldnt find it.

When DeFeo used his metal detector, he said it was beeping really loud in the range of gold.

It was pretty heavy, he explained. It came up and I couldnt believe it. I did it [used a metal detector] in the surrounding area on the sand and then I started walking in the water. [It was] a little bit above my ankles, but the waves were hitting my legs. Its very rough in the Rockaways and it was there. The sand was very packed so it didnt go too far deep luckily, and there wasnt a lot of trash, so that helped too.

You can watch a video of the recovery in DeFeos video below.

People interested in learning more about this activity can get involved in three local clubs that DeFeo belongs to: Staten Island History Hunters Metal Detecting Club, as well as New Jersey-based Deep Search Metal Detecting Club and East Coast Research & Discovery Association.

If you have a Good News story to share, email it to goodnews@siadvance.com.

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Good news: Staten Island man helps recover lost chain in ocean - SILive.com

Invasion of the green crab: Intruder gobbles key species in Island waters – Times Colonist

The invasive European green crab is proliferating at an alarming rate on the west and southern coasts of Vancouver Island, devouring smaller Dungeness crab and bivalves as well as the eelgrass that is critical to young salmon.

The Department of Fisheries and Oceans has identified hotspots around Sooke and Barkley Sound, but environmental groups and First Nations say the green crabs infestation extends to Haida Gwaii and likely most parts of the B.C. coast.

They say industrial trapping of the green crab is essential before it wipes out local species and key habitats.

An urgent coast-wide response is needed we have to get them out of the water, said Josh Temple, founder of the Coastal Restoration Society in Tofino. Its extremely concerning when we are trying to protect habitat, native species and save every last salmon we have.

The European green crab is considered one of the worlds 100 most devastating invasive species, hitching rides on ships to establish big populations along the coasts of every continent except Antarctica. It was believed to be introduced in the San Fransisco area in 1989, and has moved north, where the species was first found in Barkley Sound in 1999.

Temple said that since 2016, the green crab has exploded on the west coast.

It is a voracious predator, eating other crabs and destroying critical habitat such as eelgrass, which acts as a nursery for small pelagic fish such as herring, anchovies and juvenile salmonids.

Fishermen are also concerned that increasing populations of seals in estuaries are already threatening young salmon populations, so destruction of key hiding areas is considered a serious threat to salmon stocks.

The Nature Conservancy of Canada said green crabs chop off the shoots of eelgrass at the base, which can easily destroy an entire area.

The Coastal Restoration Society hopes to start a pilot project with First Nations to trap green crabs on a large scale. Some modified prawn traps to avoid excessive by-catch are already in use near Tofino and Sooke.

Ryan Chamberland, who operates Vancouver Island Lodge in Sooke, is working with the TSou-ke First Nation to tackle the green-crab problem. He said a single trap off his dock in the Sooke Basin can capture between 25 and 50 a day.

Trapping this week by the Tlaoquiaht First Nation in Barkley Sound found 105 green crabs in less than an hour.

Ive been doing my own trapping program for about 18 months to see how bad it was, said Chamberland. The results are alarming.

He is developing a community trapping program and a potential commercial trapping program with the TSou-ke First Nation. In the development stage with DFO, its awaiting final approvals and funding.

TSou-ke First Nation Chief Gordon Planes said the invasion of green crab in local waters is massive and a rapid response is needed to get populations under control.

He said green crabs are a direct threat to his nations food sources, such as Dungeness crab and salmon.

We would like to see a collective response up and down the coast the green crab isnt going anywhere; we wont get rid of it, but we have to control it, said Planes. This will all come at a cost. The [federal and provincial governments] have to understand the extent of this invasion and we have to decide quickly on how to control the numbers.

Chamberland said DFO has determined the green crabs in the Sooke Basin have already developed a unique DNA structure, likely because the basin is considered a closed system.

The DFO will likely start new controlling programs there first, said Chamberland, and move to other areas once more is known. The scary thing is, some of the crabs [from the Sooke Basin] have now been identified in the Burrard Inlet, the Gulf Islands and Washington state.

Chamberland hopes increased efforts to trap green crabs can provide a silver lining for a new First Nations fishery.

Green crab meat is good to eat perhaps not as good as a Dungeness, but edible nonetheless. Chamberland said it could be marketed on its own or as part of the imitation crab meat sector, which is made from pollock and other fillers.

The other silver lining to a potential green crab fishery is use of its shells in the biodegradeable plastics industry.

Associate professor Audrey Moores and a team at McGill University in Montreal have discovered a way to turn shell waste of green crabs into biodegradable plastics, which would break down under oceanic conditions.

The university started studying the problem after Atlantic Canada suffered severe infestations.

Moores said McGill is seeking financial support to use biochemical components of the European green crab to develop a marine biodegradable plastic, which would enhance recovery of deteriorated coastal ecosystems and provide a new industry to sustain coastal fishing communities.

DFO officials did not immediately return calls for comment. The departments website says the European green crab has the potential to upset the overall balance of the marine ecosystem. Unless controlled, this new aquatic invasive species will have a significant impact on biodiversity and habitat in the Canadian ecosystems.

The DFO encourages anyone who finds them to report them at dfo-mpo.gc.ca/species-especes/ais-eae/index-eng.html.

Temple believes the crabs are everywhere.

A lot more assessment has to be done in larger areas. European green crabs are likely up and down the coast and both sides of the Island and many started showing up in Haida Gwaii a few weeks ago, said Temple, a commercial fisherman and diver for more than three decades.

We really need to start a coast-wide industrial response. I think we have to go after every site. Get traps in the water in an industrial target trap program and work with DFO to equip and train First Nations to run the program in their territories.

Temple said his society can provide training to reduce risk of COVID-19 exposure in First Nations communities.

From 2016 to now, there have been massive outbreaks, and there are lots of gaps [in testing], said Temple. DFO has a very small department working on this. The [green crab] populations are exploding much faster than we can keep up.

Temple said female green crabs can produce 200,000 eggs a year, and over a lifespan of five or six years can produce 1.2 million.

Chamberland said they can stay in the larval stage for four to six months, which allows them to survive in ships bilges for long periods and spread to other areas easily.

The Maritime provinces have been battling the green-crab invasion since the 1950s. Over time, it has severely endangered native species such as the rock crab, Jonah crab and lady crab.

In 2008 and 2009, Fisheries and Oceans Canada collaborated with fish harvesters and the provincial Department of Fisheries and Aquaculture to try various methods to fight the green crab, specifically trapping and removal. The results showed that, in areas where sustained removal of green crabs took place, the catch rate for the crabs decreased considerably and the native species, the Jonah crab, regained the territory.

I think we can learn a lot about what happened on the East Coast, especially with the [green crabs] movements, habits and what it does to eelgrass. said Planes.

dkloster@timescolonist.com

The Global Invasive Species Database says the European Green Crab, or Carcinus maenas, is native to Europe and northern Africa. It is a voracious food generalist and in some locations it has caused the decline of other crab and bivalve species. The Nature Conservancy of Canada said the global fishing and shipping industries have helped the crab quickly broadened its range.

The species most distinctive feature is the greenish tinge on its shell. Although it can range from grey to red, it is primarily green in most regions. The shell has no bumps and extends to the eyes, giving it an almost saucer-like shape. On average, the crab is 60 millimetres long and 90 millimetres wide.

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Invasion of the green crab: Intruder gobbles key species in Island waters - Times Colonist