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Inventory Markets Stay Calm, Regardless of Turmoil Elsewhere: Reside Updates

Recognition…Hunter Kerhart for the New York Times

Hoping to catch up with the growing demand for fast delivery of goods amid the pandemic, airports are building new hubs for air freight companies.

Since the pandemic began almost a year ago, 15,000 fewer people are arriving and departing from the Cincinnati / Northern Kentucky International Airport, known as CVG, every day. However, the four runways carry a record amount of air cargo – almost 4,000 tons per day. Keith Schneider writes for the New York Times that a new construction project will become the center of Amazon Air’s national air transport network.

The new facility, which is located on 640 hectares along the southern border of the airport, is due to open in the fall. It will offer a 798,000 square meter sorting center, a seven-story parking structure and acres of freshly poured concrete for 20 aircraft.

The new building is a signal of Amazon’s influence as the largest online retailer and its commitment to fast delivery. Both have helped create a wave of air cargo construction at airports across the United States.

  • FedEx, the world’s largest air freight company, has just opened a 50-acre project at Ontario International Airport in Southern California.

  • Ted Stevens Anchorage International Airport, the second largest air cargo airport in the US after Memphis International Airport, is planning new facilities for cargo and parcel handling and sorting worth US $ 500 million.

  • Chicago Rockford International is building a 90,000 square foot cargo facility. As soon as the airport opens in spring, it will start another 100,000 square meter freight project for DB Schenker, Emery Air and Senator International.

“Freight traffic is now driving new demand in airports,” said Rex J. Edwards, industry analyst and vice president of Campbell-Hill Aviation Group, a consulting firm in Northern Virginia. “That’s the development of business now.”

Recognition…Nicholas Albrecht for the New York Times

Of the existing 18.5 million Bitcoin, around 20 percent – currently valued at around $ 140 billion – appear to be in lost or otherwise stranded wallets, according to cryptocurrency data company Chainalysis. Wallet Recovery Services, a company that helps find lost digital keys, said it received 70 requests a day from people seeking help recovering their wealth, three times as many as a month ago.

The unusual nature of cryptocurrency has left many people locked out of their Bitcoin fortune due to lost or forgotten keys. They had to watch helplessly as the price rose and fell sharply and could not benefit from their digital wealth.

Bitcoin owners locked out of their wallets speak of endless days and nights of frustration as they tried to gain access to their wealth. Many have owned the coins since Bitcoin’s inception a decade ago when no one trusted that the tokens would be worth anything.

The dilemma is a stark reminder of Bitcoin’s unusual technological foundations that set it apart from ordinary money and give it some of its most vaunted – and riskiest – properties. With traditional bank accounts and online wallets, banks like Wells Fargo and other financial firms like PayPal can provide users with the passwords for their accounts or reset lost passwords.

Bitcoin doesn’t have a company that provides or stores passwords. However, the structure of this system did not take into account how difficult it is for people to remember and secure their passwords.

“Even sophisticated investors have been unable to manage private keys at all,” said Diogo Monica, co-founder of a start-up called Anchorage, which helps companies manage the security of cryptocurrencies. Mr Monica founded the company in 2017 after helping a hedge fund regain access to one of their Bitcoin wallets.

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A information on what we all know thus far

An unused classroom at the Karl Marx Secondary School in Saxony-Anhalt, Gardelegen, in Germany. Due to the still comparatively tense situation in Covid-19, stricter rules apply both in Saxony-Anhalt and across the country. The schools should remain in emergency operation at least until the end of January.

Klaus-Dietmar Gabbert | Image Alliance | Getty Images

LONDON – The science of the link between children and the spread of the coronavirus is still developing, but growing body of evidence appears to suggest that children who go to school play an important role in community transmission.

It comes at a time when the resurgent spread of Covid-19 has led most of Europe to take the toughest public health measures. Many countries in the region have closed schools in an attempt to lower infection rates and reduce the burden on healthcare facilities that are already stressed.

The polarizing question of whether schools should stay open is far from clear. The World Health Organization urges policy makers to be guided by a risk-based approach in order to maximize the benefits to the population.

School closings clearly have a negative impact on children’s health, the United Nations Health Authority warned, citing setbacks in child education and development, family incomes and the wider economy.

It currently remains to be seen when exactly the schools will have to remain at least partially closed and when they can possibly be fully reopened.

Will Schools Closing Slow Down the Spread?

A study by researchers at the Swiss Federal Institute of Technology in Zurich found that Switzerland’s decision to close schools in March last year reduced mobility by 21.6%.

The study, which was published on Sunday and has not yet been peer-reviewed, found that school closings rank third in reducing mobility across the country – and therefore in the transmission of Covid.

A ban on gatherings of more than five people proved to be the most effective policy tool, reducing mobility by around a quarter, while the closings of restaurants, bars and non-essential shops resulted in the total number of trips increasing by 22.3% sank.

Teachers in a queue waiting for their Covid tests to be done. A group of teachers supposed to work in the youngest grades 1 to 3 of elementary school will be subjected to a Covid-19 test. (Photo by Alex Bona / SOPA Images / LightRocket via Getty Images)

Alex Bona | SOPA pictures | LightRocket via Getty Images

The study estimated that a 1% decrease in human mobility predicted a 0.88% to 1.11% reduction in daily reported Covid cases, underscoring the effectiveness of school closings in slowing the spread of the virus. It analyzed telecommunications data consisting of 1.5 billion trips made by the Swiss between February 10 and April 26 of last year.

“Studies of interventions in hundreds of countries around the world have consistently shown that school closings are associated with decreases in R and openings with increases,” said Dr. Deepti Gurdasani, clinical epidemiologist at Queen Mary University in London, emailed CNBC.

The so-called “R” rate or reproduction rate refers to the average number of secondary Covid infections caused by a single infected person.

What measures can be taken to reduce the risk?

In the UK, schools are expected to be closed for the vast majority of children in England, Scotland, Wales and Northern Ireland in the coming weeks. And QMU’s Gurdasani said data in England had previously shown that Covid cases decrease during school closings, for example during the holidays in the middle of the semester.

Referring to data from the UK National Statistics Office, she added that children between the ages of 2 and 11 were twice as likely as adults in the household zero, while children between the ages of 12 and 16 were seven times more likely to bring infection into the home Family.

Understanding the impact schools have on community transmission is critical to ensuring that the risk of transmission within schools as well as from schools to the community is minimized.

Deepti gurdasani

Clinical Epidemiologist at Queen Mary University of London

The ONS examined household data in England between April and November last year. It was also found that children between 2 and 16 years of age infected household contacts twice as likely as adults over 17 years of age.

“With this in mind, it is critical that governments introduce mitigation measures in schools, including smaller class and bubble sizes, better ventilation and air filtration with surveillance, mask use, social distancing, hygiene and the use of large empty spaces to reduce the risk,” so Gurdasani said.

“Recognizing the impact of schools on community transmission is critical to ensuring that the risk of transmission within schools as well as from schools to the community is minimized.”

What is the risk for young people?

The European Center for Disease Prevention and Control (ECDC) has stated that, according to an epidemiological investigation, transmission of Covid in schools represents a minority of all Covid cases in a given country.

The EU agency emphasizes that most children do not develop symptoms when infected with Covid. If symptoms develop, it is usually a very mild form of the disease.

Palestinian students wearing face masks stand in line to enter their school after personal training, interrupted as part of the new type of coronavirus (Covid-19) measures, resumed for elementary and secondary school students in the Gaza Strip today on January 13, 2021.

Ali Jadallah | Anadolu Agency | Getty Images

That is not to say that cases of critical illness for children have not been reported. According to the WHO, children under the age of 18 account for around 8.5% of the reported cases. And, as with adults, pre-existing medical conditions have been suggested as a factor in serious disease outcomes and ICU admission.

What does the ECDC recommend?

“If appropriate measures are taken in schools to reduce the risk of the virus spreading, school attitudes are unlikely to play a significant role in transmission,” the ECDC website said. “In addition, schools are an integral part of society and children’s lives.”

The agency added: “Widespread school closings should be seen as a last resort and only considered after other measures are taken within the community to contain the spread of the disease.”

Late last month, an ECDC review found that the return of school children in mid-August last year did not appear to have been the driving force behind the recovery in cases seen in many EU countries in the fall.

Further studies to understand the risk of infection in children and assess age group transmission are ongoing.

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YouTube Suspends Trump’s Channel for at Least Seven Days

OAKLAND, Calif. – YouTube announced Tuesday that President Trump’s channel had been banned because of concerns about the “ongoing potential for violence.” This was the latest move by one of the major tech companies to restrict the president online.

In a post on YouTube’s official Twitter account, Google’s own video page announced that Mr Trump’s account was banned after one of his recent videos violated the Incitement to Violence Policy.

That meant Mr Trump couldn’t upload any new content to his channel for at least seven days, which had around 2.8 million subscribers. YouTube also said it has indefinitely disabled all comments on its channel.

Older videos that did not violate any guidelines remained active on his channel.

Many tech companies have moved to curb Mr. Trump online since a violent presidential-instigated crowd of his supporters stormed the Capitol last week. Subsequently, Facebook suspended the president from Instagram and his core social network at least until the end of his term in office. Twitter followed by the permanent suspension of Mr. Trump’s account to deprive him of his favorite social media platform, which he had more than 88 million followers on. Other sites, like Snapchat, Reddit, and Twitch, have put Mr. Trump under pressure.

Big tech companies have also withdrawn support for other websites that host right-wing content. On Monday, Parler, a social networking site that had become popular with Trump supporters for its casual approach to freedom of expression, went dark after Amazon shut down computer services. Apple and Google had previously removed Parler from their app stores. Parler said they were looking for a way to get back online.

The moves were praised by liberals and others, who said the actions were long overdue because Mr Trump used the websites to spread falsehoods and incite violence. But conservatives have said that tech companies have censored Mr Trump and suppressed right-wing voices, raising questions about how much power tech companies have over online discourse.

The video that led to YouTube’s suspension comes from Mr. Trump’s remarks on Wednesday prior to a trip to Texas to visit a partially completed section of his long-promised wall along the Mexican border.

In his first address to reporters since last week’s events, Trump said that a speech he gave at a pre-riot rally in the Capitol was “entirely appropriate” and that Congress’s efforts to indict and condemn him “Anger would have enormous causes.”

YouTube’s seven-day suspension was an “important and necessary first step,” said Jim Steyer, executive director of Common Sense Media, a nonprofit news media monitoring group. “While it is disappointing that it took a Trump-instigated attack on our Capitol to get here, all major platforms seem to be finally rising,” he said.

During his presidency, Mr. Trump used YouTube differently from Twitter or Facebook. His YouTube channel is mostly filled with clips from speeches and rallies, as well as videos of supporters defending him on Fox News. The videos lack the carbon copy of his up-to-the-minute comment on Twitter and Facebook.

YouTube’s suspension comes after months of being pulled by the company. In the weeks following the November 3 election, Mr Trump’s channel was filled with videos showing him and his supporters questioning the outcome. YouTube refused to respond to these videos despite critics calling for it. The questioning of the election results is not a violation of his guidelines.

Last month, after most states confirmed their election results, YouTube announced it would remove videos that misleadingly stated that there had been widespread election fraud or election errors. However, the company said it would not punish channels for posting such content with suspensions until January 21, after inauguration day. YouTube said it removed thousands of videos spreading misinformation about the 2020 election.

Several videos were removed from Mr. Trump’s channel last week, including the one praising rioters and urging them to leave the Capitol. The Company, cited the spread of electoral misinformation.

A day later, YouTube removed the grace period and said it would “strike” channels for violating policies on election fraud. Channels that receive a strike will not be able to upload new videos for a week. After three strokes there can be a canal permanently banned from YouTube.

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Walmart prospects do not count on a speedy financial restoration, prime exec says

Shoppers wear masks while shopping at a Walmart store in Bradford, Pennsylvania on July 20, 2020.

Brendan McDermid | Reuters

Janey Whiteside, Walmart’s chief customer officer, said Tuesday that many of its shoppers don’t expect the economy to recover quickly from the coronavirus pandemic.

Nearly half of customers surveyed in November said Walmart were concerned about the current health of the economy, she said at the National Retail Federation’s virtual conference. She said 40% said they did not expect a “quick recovery”.

“Our main Walmart customer is absolutely not immune to the economic slowdown, and may even be disproportionately affected,” she said, noting that the pandemic has divided society as it has not hit some industries such as hospitality and others.

Walmart’s sales and earnings have increased during the pandemic as customers turned to its 4,700+ U.S. stores and website for groceries, hair colors, puzzles, and more. Revenue from the same store rose 6.4% and US ecommerce sales rose 79% year over year for the third quarter ended October 31. The company has yet to report its fourth quarter results, including Christmas shopping, of the season.

However, according to Whiteside, the company finds that customers are feeling financially troubled trying to put groceries on the table and juggle other expenses such as school supplies for their children. She said, “Taking care of this group of customers who need us more than ever is the fuel that keeps Walmart going.”

“We know they continue to look for ways to save money on basic items. Whether you’re moving from a national brand to a private brand, look for small pack sizes and cherry picking deals when they’re available.” said she said. “We also know that they continue to make sure they don’t have to forego experiences for their families, so take a look at where to balance the wallet.”

On Monday, Walmart announced that it had created a fintech start-up with the venture capital firm Ribbit Capital. It didn’t say what services it could launch, but said they’ll be affordable. Walmart already offers some financial products like prepaid debit cards for customers with bad credit or no relationship with a bank.

Walmart’s plan to open health clinics is also geared towards affordability. The clinics offer lower prices that are listed in advance and can be paid out of pocket, e.g. E.g. $ 30 for an annual examination or $ 45 for a consultation session.

“In these times when everyone has so much on their minds, we also know that saving time and relieving the cognitive burden on people is also important,” said Whiteside.

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Senate Democrats Plan to Prioritize Extra Direct Funds

Here’s what you need to know:

Credit…Al Drago for The New York Times

Senate Democrats plan to prioritize a bill containing more Covid relief, including additional $1,400 payments to many Americans and money to accelerate vaccine deployment, as their “first order of legislative business” when they assume control of the chamber.

The priorities, which Senator Chuck Schumer of New York, the incoming majority leader, outlined in a letter to colleagues on Tuesday, echo many of the policies that President-elect Joseph R. Biden Jr. has signaled he will officially unveil on Thursday.

The president-elect has said repeatedly in recent days that he will push Congress to pass an additional pandemic relief bill meant to boost the flagging economic recovery and to accelerate efforts to deploy vaccine doses. In a call with Mr. Schumer and Speaker Nancy Pelosi on Friday, Mr. Biden stressed the need for “immediate economic relief for families and small businesses, funding for Covid-19 response, including vaccinations, testing, school reopening, and state and local frontline workers,” according to a readout from the Biden transition team.

Mr. Schumer picked up on those themes in his letter. “The work of the 117th Congress will begin in the wake of a devastating attack, on the heels of a devastating year,” he wrote.

“We have an opportunity to work with our House colleagues and a new administration to defeat the virus, provide the relief the American people need, and reunite the country,” he said.

Mr. Schumer said the immediate relief bill would contain the additional money, on top of $600 individual payments Congress approved last month, to fulfill the promise of $2,000 payments that Mr. Biden made to voters in Georgia’s runoff elections this month: “We will get that done.”

He also said it would contain money for vaccine distribution, schools, small businesses and assistance for state and local governments, which was left out of the last Covid package in a dispute with Republicans. Mr. Schumer said senators would also prepare broader legislation to address climate change, infrastructure, manufacturing, immigration, criminal justice, inequality and elections.

Democrats will control the Senate by the narrowest of margins — it will be split 50-50, with Vice President-elect Kamala Harris holding the ability to break any ties. Mr. Schumer said Democrats would look to work with Republicans on legislation “when and where we can” but offered a warning to the other party: “If our Republican colleagues decide not to partner with us in our efforts to address these issues, we will not let that stop progress.”

Doug McMillon, the chief executive of Walmart, at a White House event in April. Walmart said it would pause political contributions to the Republicans who voted against certifying the results of the presidential election.Credit…Anna Moneymaker/The New York Times

Walmart on Tuesday said it would “indefinitely” suspend contributions to members of Congress who voted against certifying the results of the presidential election, as businesses come under pressure to respond after a mob stormed the Capitol last week.

On Sunday, when asked about the Walmart’s corporate donations, including those to the Republican Attorneys General Association, a spokesman told the Times that Walmart examines and adjusts its political giving strategy at the end of every election cycle.

“As we conduct our review over the coming months, we will certainly factor last week’s events into our process,” the spokesman, Randy Hargove, said at the time.

Mr. Hargove on Tuesday said Walmart “is indefinitely suspending contributions to those members of Congress who voted against the lawful certification of state Electoral College votes,” even as the company continues to review its donation strategy.

Many companies, including Google, Goldman Sachs and Coca-Cola, opted to pause donations to both parties following the violence at the Capitol.

Fewer companies specified they will halt funding to only the 147 Republican members of Congress who objected to certifying the election results, as Walmart did on Tuesday. That group includes Marriott International, Dow, Airbnb and Morgan Stanley.

Walmart’s political action committee spent $1.65 million on political donations last year, according to Open Secrets, a program from the Center for Responsive politics that tracks the influence of money in politics.

Walmart’s chief executive, Doug McMillon, chairs the influential business lobbying group Business Roundtable, which after the election released a strongly worded statement acknowledging Mr. Biden’s victory and saying there was no indication that investigations or lawsuits would change the result.

President Trump is rushing to put into effect new economic regulations and executive orders before his term comes to a close.Credit…Erin Schaff/The New York Times

President Trump is rushing to put into effect a raft of new regulations and executive orders that are intended to put his stamp on business, trade and the economy before President-elect Joseph R. Biden’s inauguration on Jan. 20. Here are some of the changes the administration is rushing to make.

Defining gig workers as contractors. The Labor Department on Wednesday released the final version of a rule that could classify millions of workers in industries like construction, cleaning and the gig economy as contractors rather than employees, another step toward endorsing the business practices of companies like Uber and Lyft. — Noam Scheiber

Limiting banks on social and environmental issues. The Office of the Comptroller of the Currency is rushing a proposed rule that would ban banks from not lending to certain kinds of businesses, like those in the fossil fuel industry, on environmental or social grounds. The regulator unveiled the proposal on Nov. 20 and limited the time it would accept comments to six weeks despite the interruptions of the holidays. — Emily Flitter

Rolling back a light bulb rule. The Department of Energy has moved to block a rule that would phase out incandescent light bulbs, which people and businesses have increasingly been replacing with much more efficient LED and compact fluorescent bulbs. The energy secretary, Dan Brouillette, a former auto industry lobbyist, said in December that the Trump administration did not want to limit consumer choice. The rule had been slated to go into effect on Jan. 1 and was required by a law passed in 2007. — Ivan Penn

“The President’s conduct last week was absolutely unacceptable and completely inexcusable,” said Thomas J. Donohue, chief executive of the Chamber of Commerce.Credit…Riccardo Savi/Getty Images for Concordia Summit

The U.S. Chamber of Commerce, the nation’s largest business lobbying group, condemned President Trump’s conduct that led to the siege of the Capitol last week and said on Tuesday that lawmakers who backed his efforts to discredit the election would no longer receive the organization’s financial backing.

The criticism was the latest backlash against Mr. Trump and Republicans from the business community, which has been united in its opposition to an assault on the democratic process, and represented a major rift in the traditional alliance between industry and the Republican Party.

“The president’s conduct last week was absolutely unacceptable and completely inexcusable,” Thomas J. Donohue, the chief executive of the Chamber of Commerce, said. “By his words and actions, he has undermined our democratic institutions and ideals.”

The group said that it is trusting Congress, the vice president and the cabinet to act “judiciously” as it considers whether to invoke the 25th Amendment or impeachment to remove Mr. Trump from office before his term ends next week. The statement did not go as far as one released by the National Association of Manufacturers last week that explicitly called for the removal of the president from office.

The Chamber operates a powerful political action committee that supports candidates across the country. Neil Bradley, the group’s chief policy officer, said that it is evaluating how lawmakers voted last week during the electoral vote certification process and how they vote in the coming days when the House moves to impeach Mr. Trump when making decisions about donations. He said that lawmakers who did not demonstrate respect for democracy would no longer receive financial support.

The relationship between the Chamber and Mr. Trump has at times been fraught. The group opposed his protectionist trade policies and efforts to restrict immigration but supported his moves to cut taxes and roll back regulations.

In a speech on the state of American business on Tuesday, Mr. Donohue called on Mr. Biden to roll back most of those tariffs and work with Congress on immigration reform legislation.

Visa and the financial technology start-up Plaid abandoned their $5.3 billion merger deal on Tuesday, citing a Justice Department antitrust lawsuit.

The agreement between Visa and Plaid, a service that allows companies and apps to securely share customer data, was challenged in November by Justice Department officials who said the credit card giant was trying to eliminate a “nascent threat” to its online payments business.

“Visa is a monopolist in online debit, charging consumers and merchants billions of dollars in fees each year to process online payments,” the Justice Department said in a statement on Tuesday. The department said that Plaid was developing its own payments platform, and that the merger “would have enabled Visa to eliminate this competitive threat to its online debit business before Plaid had a chance to succeed.”

The leaders of Visa and Plaid said they disagreed with the Justice Department’s stance but decided not to fight the lawsuit, which will be dismissed as a result of the merger’s cancellation.

Al Kelly, Visa’s chief executive, said Plaid’s capabilities were complementary, not competitive, to Visa and added that he believed the companies would have prevailed in court.

“However,” he said, “it has been a full year since we first announced our intent to acquire Plaid, and protracted and complex litigation will likely take substantial time to fully resolve.”

Plaid’s chief executive, Zach Perret, added: “While Plaid and Visa would have been a great combination, we have decided to instead work with Visa as an investor and partner.”

The past year was a busy one for financial data companies: Intuit, which owns TurboTax and the personal finance app Mint, announced a $7 billion takeover of the credit reporting company Credit Karma in February, another deal the Justice Department said it would review. In June, Mastercard said it would buy the financial data firm Finicity.

Boeing said that it had received orders for 90 new planes in December, after its 737 Max was allowed to fly again.Credit…Jason Redmond/Agence France-Presse — Getty Images

Boeing’s outstanding plane orders shrank by 500 in 2020, though its fortunes began to shift at the end of the year after the Federal Aviation Administration allowed the aircraft maker’s troubled 737 Max to fly again after a 20-month grounding.

The company said Tuesday that it had received orders for 90 new planes in December, most of which were part of a previously announced deal with the European airline Ryanair. The company also sold eight 777 freighters to DHL, the shipping company. Those orders were offset by 107 cancellations in the month.

“The resumption of 737 MAX deliveries in December was a key milestone as we strengthen safety and quality across our enterprise,” Greg Smith, Boeing’s chief financial officer, said in a statement.

In addition to the Max crisis, which has cost billions of dollars, Boeing was also hamstrung by the pandemic, which has sharply slowed air travel, and by concerns about manufacturing problems and defects involving the 787 Dreamliner, a popular plane airlines use for longer flights.

Boeing received just 184 new orders last year, compared with more than 650 cancellations, virtually all of them for the Max. After taking account of the planes it delivered, cancellations and orders that the company thinks might not be fulfilled, Boeing’s overall backlog shrank by nearly 1,000 planes.

The 2020 figure does not take into account a late-December announcement from Alaska Airlines that it would expand an existing purchase and lease order for the Max by 36 planes.

The Max crisis appears to be receding as aviation authorities around the world prepare to follow the F.A.A. in allowing airlines to resume commercial flights on the plane. Last week, the company also agreed to a $2.5 billion settlement with the Justice Department, resolving a criminal charge that it had sought to defraud the F.A.A.

The pandemic continues to take a toll on Boeing’s airline customers, but with vaccines being distributed, there is hope that travel demand might soon start recovering.

  • Stocks on Wall Street were mostly unchanged on Tuesday, after struggling to resume the advances that carried the major U.S. benchmarks to records last week.

  • After drifting between gains and losses, the S&P 500 ended the day with a gain of less than a tenth of a percent. Most major benchmarks in Europe were also flat or declined.

  • Energy prices rose, West Texas Intermediate crude touching its highest prices since February.

  • The S&P 500, Dow Jones industrial average and Nasdaq composite all closed at records last week but retreated on Monday.

  • Investors have mostly looked past the political turmoil in Washington and the state of the pandemic, focusing instead on a future ripe for gains in the U.S. equity market, in part because of the rollout of the coronavirus vaccine and supportive fiscal and monetary policies. They expect gains even though the American stocks haven’t been this expensive since the 2000 dot-com bubble, according to some measures of valuation.

  • Lombard Odier, a Swiss private bank, said it was also staying invested in U.S. stocks. “The shift in balance of power and stimulus support for the real economy is combining to create a sound environment for risky assets, in particular equities,” Stéphane Monier, the bank’s chief investment officer, wrote in a note. He added that the bank was betting on an economic recovery and was also buying more European and emerging market shares.

Adrian Wycisk, a manager at Henkel, left, during a meeting using SafeZone digital social distancing technology to prevent the spread of the coronavirus.Credit…Anna Liminowicz for The New York Times

A small piece of technology that played a big role in helping the National Basketball Association evade the virus in its 2019-20 season is garnering broader attention.

The device, a wristband that players, coaches and trainers could wear off the court, has a digital chip that enforces social distancing by issuing a warning — by light and sound — when wearers get too close to one another for too long.

The bands have been picked up by the National Football League, the Pacific-12 college football conference and other sports leagues around the world, Christopher F. Schuetze reports for The New York Times.

The Munich start-up behind the N.B.A.’s wristbands, Kinexon, is happy with the publicity of helping prevent top athletes from catching the virus, even as such devices raise privacy concerns. Now, it is looking toward broader arenas: factory production lines, warehouses and logistics centers where millions of people continue to work despite the pandemic.

One of the companies working with Kinexon is Henkel, a global industrial and household chemical manufacturer based in Germany. Henkel was already testing an earlier version of Kinexon’s wearable tech designed to avert collisions between forklifts and workers on high-traffic factory floors. Kinexon offered Henkel a chance to test a variation of that technology, called SafeZone.

The company said it was supplying the technology to more than 200 companies worldwide. It estimates its badges have prevented 1.5 million contacts a day, a difficult number to confirm. The sensors are priced at $100 to $200 each.

“What’s important in this is not only to have the technology working in a lab — what’s important now is to be able to bring the technology to where people need it,” said Oliver Trinchera, a co-founder of Kinexon and one of its directors, “be it on the factory floor or on the sports pitch.”

Mark Levin, a Trump-supporting radio host, has tweeted about a “massive fraud perpetrated against the president.” <a href=
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  • Twitter on Monday said that it had removed more than 70,000 accounts that promoted the QAnon conspiracy theory in recent days. Twitter, which carried out the suspensions over the weekend, said it acted to clamp down on posts that have “the potential to lead to offline harm.” It added that many of the users who were removed had operated multiple QAnon accounts, driving up the total number of accounts that were taken down.

  • Cumulus Media, a talk radio company with a roster of popular right-wing personalities including Dan Bongino, Mark Levin and Ben Shapiro, has ordered its employees at 416 stations nationwide to steer clear of endorsing misinformation about election fraud. “The election has resolved, there are no alternate acceptable ‘paths,’” read a memo sent to staff on Wednesday. “Please inform your staffs that we have ZERO TOLERANCE for any suggestion otherwise. If you transgress this policy, you can expect to separate from the company immediately. There will be no dog-whistle talk about ‘stolen elections,’ ‘civil wars’ or any other language that infers violent public disobedience is warranted, ever.”

  • Amazon said on Monday that it was removing products promoting QAnon, a baseless conspiracy, from its website, after QAnon supporters were prominent in the riot at the Capitol last week. The move followed Amazon’s decision to boot Parler, a right-wing social network, from its web servers and cloud services.

  • Marriott International, Dow, Airbnb and Morgan Stanley were among those that said they would halt donations from their political action committees to the 147 Republican members of Congress who objected to certifying the election results on Jan. 6. AT&T, whose PAC donated the most of any single public company in the 2019-20 election cycle, also said it would suspend contributions to those lawmakers. At the same time, Citigroup, Coca-Cola, Facebook, Goldman Sachs, JPMorgan Chase and Microsoft said they were pausing PAC donations to both Republican and Democratic candidates for various lengths of time — a tactic that will also penalize those who voted to uphold the election.

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Not in Trump’s ‘nature’ to do what’s proper for the U.S.,’ says Panetta

Former Secretary of Defense Leon Panetta told CNBC’s “The News with Shepard Smith” that lawmakers on both sides of the aisle “need to be realistic” that President Donald Trump will not attempt to attract violent demonstrators in the days leading up to President-elect Joe Biden’s inauguration to discourage.

“This president won’t do that,” said Panetta, who served as secretary of defense under President Barack Obama from July 2011 to February 2013. “It is not in his nature to do something that is important to the country. He thinks of himself. That will continue to consume him.”

At the Save America rally on January 6, Trump told thousands of spectators on Capitol Hill that “we will never admit” and added strength to his supporters. Minutes later, a crowd of his supporters stormed Congress and terrorized it. Trump has since taken no responsibility for the deadly uprising and has defended his speech.

“People found what I said completely appropriate,” Trump told a group of reporters on Tuesday.

Trump’s comments come at a time of heightened alertness to violence in the US after the FBI warned of possible armed protests. In a Tuesday night interview on The News with Shepard Smith, Michael Chertoff, Secretary of Homeland Security during the Bush administration, said there was a “real threat” to hostility in the country’s capitals.

“I’m very worried about the next few weeks,” said Chertoff. “I think that next week will be a moment when these groups feel encouraged to go into chaos and attack not only the Capitol but other locations as well.” . “

A state of emergency was declared in Richmond, Virginia because authorities described the protests prior to Inauguration Day on January 20 as a “credible threat.” Virginia Capitol Police announced they were increasing security.

Wisconsin Governor Tony Evers activated his state’s National Guard to protect the state’s Capitol and boarded up windows on the building’s ground floor. Michigan’s Attorney General Dana Nessel tweeted, “The Michigan Capitol is not safe.” Chertoff said he doesn’t expect the threats to stop after inauguration day.

“We could have active shooters, we could have pipe bombs, but honestly I think this will continue after January 20th,” said Chertoff. “I think these groups were brought up to believe that this is their moment.”

Panetta told host Shepard Smith that Trump must be “punished” last Wednesday for “instigating this uprising”. Trump is charged with rioting and House Democrats plan to vote Tuesday to demand that Vice President Mike Pence use the 25th amendment to remove Trump from office. Panetta said if Pence fails to implement the 25th Amendment, there will be no option but to impeach.

“That is the bottom line, we cannot ignore what happened last Wednesday and we must send a clear message to this president and future president that such behavior will never be tolerated in our country,” said Panetta.

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Diego Rivera Mural to Get Landmark Standing, Blocking Potential Sale

On Tuesday, the San Francisco Board of Trustees voted 11-0 to begin the process of designating a popular Diego Rivera mural as a landmark after the San Francisco Art Institute, which owns the $ 50 million painting, said that the sale would help pay off $ 19.7 million in debt.

Designating the mural as a landmark would severely limit the leverage of the 150-year-old institution, and officials behind the measure say the sale will likely be off the table for now. Removing the landmark mural would require approval from the city’s Historic Preservation Commission, which has extensive powers.

“There’s a lot of money in this city,” said Andrew Peskin, a board member from the district in which the institute is located and sponsor of the proposal. “There are better ways to get out of your mess than a mind-bending scheme to sell the mural.”

During a public hearing on the resolution Monday, Art Institute officials objected to the idea. Pam Rorke Levy, chairman of the art institute’s board of directors, said: “If the mural is milestone now, when there is no significant risk of sale, without taking sufficient account of the SFAI’s position, it would deprive the SFAI of its primary and most valuable asset . “

The 1931 work entitled “The Making of a Fresco Showing the Building of a City” is a fresco within a fresco. The tableau shows the creation of a city and a mural – with architects, engineers, craftsmen, sculptors and painters who work hard. Rivera himself can be seen from behind, holding a palette and a paintbrush with his assistants. It is one of three frescoes by the Mexican muralist in San Francisco that had a tremendous impact on other artists in the city.

Years of costly expansions and declining enrollments have placed the SFAI in a difficult financial position made worse by the pandemic and loan default. In July last year, a private bank announced it would sell the school’s collateral – including the Chestnut Street campus, the Rivera mural, and 18 other works of art – before the University of California’s Board of Regents bought the debt in October. A new agreement gives the institute six years to buy back the property. Otherwise, the University of California would take possession of the campus.

Faced with the threat of foreclosure, the school administrators have been looking for a suitable buyer, although Ms. Levy has said the school’s “first choice is to loan the mural on the spot and attract patrons or a partner institution who can raise substantial funds for it would allow us to preserve, protect and present the mural to the public. “

Last month, Ms. Levy discussed two options with board members and employees. For one, filmmaker George Lucas bought the mural for the Lucas Museum of Narrative Art in Los Angeles. (The museum said it wouldn’t comment on speculation about acquisitions.) Another would have seen the San Francisco Museum of Modern Art take possession of the mural but leave it as an adjoining room on campus.

However, a museum spokeswoman said nothing came from early discussions. “We have no plans to acquire or rent the SFAI mural,” said Jill Lynch, communications officer for SFMOMA, to the New York Times.

The school’s Chestnut Street campus has been a landmark since 1977, but it was possible that the mural could be sold as part of the interior or removed.

In recent days, former students and faculty members have organized to oppose a sale of the mural. This included the famous artist Catherine Opie, who published an open letter condemning the actions of the school board and announcing the withdrawal of a photo she was planning to sell in a fundraiser for the institute.

“I can no longer be part of a legacy that sells an essential unique piece of history,” she wrote.

After hearing that the mural would likely receive landmark status, Ms. Opie breathed a sigh of relief.

“I’m thrilled and relieved,” she told the Times. “I’m tired of seeing art being used as a first line of defense asset for institutions.”

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City Outfitters (URBN) shares tumble as 2020 vacation gross sales disappoint

Shoppers with their Urban Outfitters shopping bags in Soho in New York

Richard Levine | Corbis | Getty Images

Urban Outfitters’ shares fell Tuesday after the clothing retailer reported disappointing Christmas sales and announced that its current chief executive would leave later this month.

The stock fell roughly 11% after the close of trading, after rising nearly 6% on the day.

Urban Outfitters, which also owns the Anthropologie and Free People brands, said current CEO Trish Donnelly will be leaving effective Jan. 31 to pursue another career opportunity. She has named Sheila Harrington, the current CEO of Free People, as CEO of Urban Outfitters and will continue to oversee the Free People banner.

During the two-month period ending December 31, Urban announced that the company’s total sales were down 8.4% year over year, while sales in the same store had declined 9% due to the decline in business traffic due to the Covid pandemic. Sales in the same store tracks sales both online and in stores that have been open for at least 12 months.

Online sales rose double digits, the company said, but that wasn’t enough to make up for losses in stores. According to Urban, sales at Free People increased 1%, Urban Outfitters increased 8% and Anthropologie increased 12%.

In a virtual presentation at the annual ICR conference on Tuesday afternoon, CFO Frank Conforti said the company kept inventory levels low during the holidays, especially in stores, to avoid having to discount excess goods during the season. But that strategy could have backfired and hit store sales, Conforti said. “This may be the first time we’ve seen the negative impact of our product model,” he said.

Urban is also in the process of building another warehouse in Kansas to meet the peaks in online demand and will open a temporary warehouse in the meantime to help with digital orders.

The company found that sales in the same store across the portfolio “rebounded well” in January. However, earnings are expected to come under pressure in the fourth quarter, partly due to increased shipping and logistics costs due to the online surge.

For the eleven month period ending December 31, Urban announced that total sales were down 14.3%, while sales in the same store were down 12% overall.

Also on Tuesday, Urban named Gabrielle Conforti, her current chief merchandising officer, President of Urban’s North America division. Emma Wisden, the current General Manager of Urban’s Europe division, will lead Urban’s wholesale business.

Urban Outfitters’ shares were up nearly 15% over the past 12 months as of Tuesday’s close.

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‘Black Field’ From Indonesia Aircraft Crash Is Recovered

Divers of the Indonesian Navy have recovered the flight data recorder from Sriwijaya Air Flight 182, which crashed into the Java Sea shortly after take-off on Saturday with 62 people on board.

The remains of some victims were also brought ashore in dozens of body bags, officials said. So far, four victims have been identified. No survivors of the flight are expected.

The quick recovery of the flight data recorder, sometimes referred to as a “black box” and one of two on the plane, helps officials understand why the 26-year-old Boeing 737-500 was just four minutes after take off from Jakarta, the capital. The plane flew to Pontianak on the island of Borneo, a flight of about 90 minutes.

The divers retrieved the flight data recorder from the wreck in about 75 feet of water between the islets of Lancang and Laki, officials said.

The Boeing had two data recorders on opposite ends of the aircraft: a flight data recorder in the tail of the aircraft, which can provide information about the mechanical operation of the jet during its short flight, and a cockpit voice recorder, which records the conversation between the pilot and co-pilot .

Investigators hope that analyzing the information found on both devices can provide a clear picture of what happened during the flight.

The plane crashed nearly 300 meters shortly after taking off from Soekarno-Hatta International Airport in Jakarta. The wreck extends over an area of ​​about 300 meters in length and 300 meters in width, the authorities said.

The relatively compact size of the debris field is consistent with an airplane that did not explode before hitting the water.

Each data recorder has an acoustic underwater beacon that emits a signal in the event of a crash to help those searching for the recorder to recover.

In this case, the acoustic beacon broke away from the cockpit voice recorder and was found separately, said the commander of the Indonesian Armed Forces, Hadi Tjahjanto. Divers continue to search for the recorder itself, he told reporters.

“We are sure that the cockpit voice recorder will also be found,” he said.

Sriwijaya Air released a statement that the aircraft had received an airworthiness certificate from the Ministry of Transport, which is valid until December 17, 2021.

A ministry spokeswoman Adita Irawati said the aircraft’s certificate of operation was renewed in November.

“Sriwijaya Air met the conditions set,” she said.

The latest crash adds to a list of previous airline tragedies in Indonesia. Air Asia Flight 8501 crashed into the Java Sea off the coast of Borneo in December 2014. In October 2018, Lion Air Flight 610 plunged into the Java Sea northeast of Jakarta a few minutes after take-off.

Dera Menra Sijabat reported from Jakarta, Indonesia.

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Walmart will check grocery deliveries to clients’ properties

The Walmart + home screen on a laptop placed in the Brooklyn borough in New York, United States on Wednesday, November 18, 2020.

Gabby Jones | Bloomberg | Getty Images

Walmart is already bringing groceries to customers’ doors and putting them straight in the fridge in some cities. The company announced Tuesday that it will soon be testing another hands-on approach: deliveries to a smart cooler on customer porches or near their front door.

Starting earlier this spring, the big box dealer announced that it would be launching a pilot in its hometown of Bentonville, Arkansas. The participating customers receive a temperature-controlled smart cooler called HomeValet. The cooler is placed outside of the house so that safe and contactless food deliveries are possible around the clock.

“The prospect for this technology is fascinating for both customers and Walmart’s last mile delivery efforts,” said Tom Ward, senior vice president of customer products for Walmart US, in a post on the company’s website. “Customers don’t have to schedule their day to have their groceries delivered. Walmart has the ability to deliver items 24 hours a day, seven days a week.”

However, he said the retailer has no plans for 24/7 deliveries.

Walmart is testing the delivery of groceries to a HomeValet, a smart cooler that is placed outside of customers’ homes.

Walmart is the largest grocer in the United States and has made free unlimited grocery deliveries a key benefit of its new subscription-based service, Walmart +. The service started in September costs $ 98 per year or $ 12.95 per month compared to Amazon Prime which costs $ 119 per year or $ 12.99 per month. It includes other benefits such as: B. Fuel discounts and access to a smartphone app that allows buyers to skip the checkout.

The retail giant launched its grocery delivery service in 2018. During the Covid-19 pandemic, Walmart and other retailers have noticed that online grocery shopping is becoming increasingly popular. Customers are looking for convenient and contactless ways to store their pantries and refrigerators, from home deliveries to services like Instacart to roadside pickup outside of a retail store.

Even before the global health crisis, Walmart was experimenting with new food delivery options. In 2019, a membership program called InHome Grocery Delivery was launched in select cities, which brings fresh fruit, meat and other groceries straight to customers’ fridges for $ 19.95 per month. It requires additional security measures, including a smart door lock kit or smart garage door kit in buyers’ homes, as well as a background check and additional training for employees.

The service continues to operate in select cities: Pittsburgh, Kansas City, Vero Beach, Florida and West Palm Beach, Florida. During the pandemic, the company changed its approach to accommodate local restrictions, a company spokeswoman said: It only delivers in the Pittsburgh kitchen. In the other cities, objects are placed directly in the door of houses or in garages.

With the new HomeValet pilot, food is left in rectangular coolers developed by a start-up. You have three zones in which food can be kept at different temperatures – frozen, refrigerated or kept at room temperature like in a pantry. To make a delivery, a Walmart employee can lock and unlock the Smart Cooler with a device.