Tag: cut

Categories
Business

Ford F-150 manufacturing reduce resulting from semiconductor chip scarcity

Ford F-150 production cut due to semiconductor chip shortage

Ford began resuming vehicle production in the U.S. on May 18, 2020 with new coronavirus safety protocols like health assessments, personal protective equipment, and changes to facilities to increase social distancing.

ford

DETROIT – Ford Motor is significantly reducing production of its highly profitable F-150 pickup trucks due to a persistent shortage of semiconductor chips in the global automotive industry.

The automaker announced Thursday that its Dearborn, Michigan truck plant will decrease from three to one shift for one week starting Monday, while truck production at its Kansas City, Missouri assembly plant will decrease from three to two shifts. Ford spokeswoman Kelli Felker said both plants are expected to return in three shifts by the week of February 15.

“We are working closely with suppliers to address potential production constraints associated with global semiconductor shortages and to prioritize key vehicle lines for production and make the most of our semiconductor allocation,” she said in a statement sent via email.

Ford shares appeared unaffected by the cuts, rising about 3% during intraday trading late Thursday morning. The automaker is expected to announce its fourth quarter results and forecast for 2021 after the market closed on Thursday.

Automakers and suppliers warned of a semiconductor shortage late last year after vehicle demand rose faster than expected following a two-month shutdown of production facilities due to the coronavirus pandemic.

Semiconductors are extremely important components of new vehicles in areas that range from infotainment systems to more traditional parts like power steering. They are also used in consumer electronics.

Ford’s confirmed plans come a day after General Motors announced it would cease production at four assembly plants in Fairfax, Kansas, next week. Ingersoll, Ontario; and San Luis Potosi, Mexico. GM will also operate a half capacity plant in South Korea this week.

Ford and other automakers – from Nissan Motor to Volkswagen – previously stopped vehicle production due to the shortage of chips.

Kumar Galhotra, Ford President for the US and International Markets, described the chip shortage earlier this week as a “very dynamic situation”. He said the company had been working with its suppliers to reduce the impact on its plants and resolve the issue as soon as possible.

“It’s changing all the time, but we believe we will look into it for at least the first half of this year,” he told CNBC.

Categories
Business

The AstraZeneca vaccine is proven to drastically reduce transmission of the virus.

The AstraZeneca vaccine is shown to drastically cut transmission of the virus.

Developed by Oxford University and AstraZeneca, the vaccine not only protects people from serious illness and death, but also significantly slows down the transmission of the virus, according to a new study – a finding that underscores the importance of mass vaccination as a way out of the pandemic.

The study by researchers at Oxford University is the first to document evidence that any coronavirus vaccine can reduce transmission of the virus.

Researchers measured the effects on transmission by wiping participants down each week to look for signs of the virus. In the absence of a virus, it cannot be spread even if someone is infected. And they found a 67 percent reduction in positive swabs among those vaccinated.

The results, detailed by Oxford and AstraZeneca researchers in a non-peer-reviewed manuscript, found that the vaccine could reduce transmission by nearly two-thirds.

Matt Hancock, the UK Health Secretary, hailed the results on Wednesday as “absolutely outstanding”.

“We now know that the Oxford vaccine will also reduce transmission and help us all get out of this pandemic,” Hancock said in an interview with the BBC on Wednesday morning.

The results, he said, “should give everyone confidence that this shock will not only serve to protect you, but also to keep you from passing the virus on to others.”

Some scientists studying the limited information published warned that further analysis of the data would be needed before such broad conclusions could be drawn.

“While this would be extremely welcome news, we need more data before this can be confirmed, so it is important that we all continue to follow social distancing guidelines after vaccination,” said Dr. Doug Brown, executive director of the British Immunology Society.

The Oxford and AstraZeneca researchers also found that a single dose of the vaccine was 76 percent effective against Covid-19. The data was measured three months after the first shot, with no initial three week period required for the protection to take effect.

The encouraging results support the UK and other countries strategy of prioritizing the provision of as many first doses of vaccine as possible and ignore concerns that people will receive their second doses later than originally planned.

The latest data does not affect the debate over whether to further reduce doses of the two US-approved vaccines Pfizer-BioNTech and Moderna, as the data on AstraZeneca’s candidates cannot be transferred to other vaccines.

Some scientists have urged the United States to follow the example of the UK and other countries who have chosen to postpone the second dose of vaccine for up to 12 weeks. But U.S. federal officials refused, saying such a move would not be supported by clinical trial data for the two vaccines currently available nationwide. Tuesday’s results could add to pressure on US health officials to postpone AstraZeneca’s second dose of vaccine, even though it has not yet been approved by the country.

The vaccine appeared to be more effective when the interval between the two shots was longer than the four-week interval originally intended, the Oxford and AstraZeneca researchers found. Among clinical trial participants who received two standard strength doses at least three months apart, the vaccine was 82 percent effective, compared with 55 percent when the doses were given less than six weeks apart.

Covid19 vaccinations>

Answers to your vaccine questions

Am I eligible for the Covid vaccine in my state?

Currently more than 150 million people – almost half of the population – can be vaccinated. But each state makes the final decision on who goes first. The country’s 21 million healthcare workers and three million long-term care residents were the first to qualify. In mid-January, federal officials asked all states to open eligibility to anyone over 65 and adults of any age with medical conditions that are at high risk of becoming seriously ill or dying of Covid-19. Adults in the general population are at the end of the line. If federal and state health authorities can remove bottlenecks in the distribution of vaccines, everyone over the age of 16 is eligible as early as spring or early summer. The vaccine has not been approved in children, although studies are ongoing. It can take months before a vaccine is available to anyone under the age of 16. For the latest information on vaccination guidelines in your area, see your state health website

Is the Vaccine Free?

You shouldn’t have to pay anything out of pocket to get the vaccine, despite being asked for insurance information. If you don’t have insurance, you should still get the vaccine for free. Congress passed law this spring banning insurers from applying cost-sharing such as a co-payment or deductible. It consisted of additional safeguards prohibiting pharmacies, doctors, and hospitals from charging patients, including uninsured patients. Even so, health experts fear that patients will end up in loopholes that make them prone to surprise bills. This may be the case for people who are charged a doctor’s visit fee with their vaccine, or for Americans who have certain types of health insurance that are not covered by the new regulations. When you get your vaccine from a doctor’s office or emergency clinic, talk to them about possible hidden costs. To make sure you don’t get a surprise invoice, it is best to get your vaccine at a Department of Health vaccination center or local pharmacy as soon as the shots become more widely available.

Can I choose which vaccine to get?How long does the vaccine last? Do I need another next year?

That is to be determined. It is possible that Covid-19 vaccinations will become an annual event just like the flu vaccination. Or the vaccine may last longer than a year. We’ll have to wait and see how durable the protection from the vaccines is. To determine this, researchers will track down vaccinated people to look for “breakthrough cases” – those people who get Covid-19 despite being vaccinated. This is a sign of a weakening of protection and gives researchers an indication of how long the vaccine will last. They will also monitor the levels of antibodies and T cells in the blood of people who have been vaccinated to see if and when a booster shot might be needed. It is conceivable that people might need boosters every few months, once a year, or just every few years. It’s just a matter of waiting for the data.

Does my employer need vaccinations?Where can I find out more?

A vaccination strategy that cuts doses by three months “might be the optimum for pandemic vaccine rollout when supplies are limited in the short term,” the researchers wrote.

The newly published study builds on data published late last year. The vaccine was found to be 62 percent effective at two standard strength doses. In these initial findings, the vaccine effectiveness was 90 percent much higher when the first dose of the vaccine was given at half strength.

The researchers from Oxford and AstraZeneca initially attributed the different levels of effectiveness to the lower strength of the initial dose. Gradually, however, they came to a different conclusion: the time between doses was the more likely explanation.

In the United States, the Food and Drug Administration is waiting for data from a clinical trial that involved around 30,000 participants, mostly Americans. The results of this study are expected later this month.

The study is expected to provide AstraZeneca with enough safety data to enable it to obtain approval to make the emergency vaccine available by early March.

The United States has agreed to purchase 300 million doses of the vaccine from AstraZeneca, but neither the company nor the federal government has indicated when and in what quantities those doses will be available after the vaccine is approved.

Categories
Business

Inside Twitter’s Resolution to Lower Off Trump

Inside Twitter’s Decision to Cut Off Trump

SAN FRANCISCO – Jack Dorsey, der Geschäftsführer von Twitter, arbeitete remote auf einer privaten Insel in Französisch-Polynesien, die von Prominenten frequentiert wurde, die den Paparazzi entkamen, als ihn am 6. Januar ein Anruf unterbrach.

In der Leitung stand Vijaya Gadde, Twitter’s bester Anwalt und Sicherheitsexperte, mit einem Update aus der realen Welt. Sie sagte, sie und andere Führungskräfte des Unternehmens hätten beschlossen, das Konto von Präsident Trump vorübergehend zu sperren, um ihn daran zu hindern, Aussagen zu veröffentlichen, die zu mehr Gewalt führen könnten, nachdem ein Mob an diesem Tag das US-Kapitol gestürmt hatte.

Herr Dorsey war besorgt über den Umzug, sagten zwei Personen mit Kenntnis des Anrufs. Vier Jahre lang hatte er sich den Forderungen von Liberalen und anderen widersetzt, Twitter solle Mr. Trumps Konto kündigen, und argumentiert, dass die Plattform ein Ort sei, an dem die Führer der Welt sprechen könnten, selbst wenn ihre Ansichten abscheulich wären. Aber er hatte Moderationsentscheidungen an Frau Gadde, 46, delegiert und normalerweise auf sie verschoben – und er tat es erneut.

Herr Dorsey, 44, machte seine Bedenken nicht öffentlich. Am nächsten Tag mochte und teilte er mehrere Tweets, in denen er vor einem dauerhaften Verbot von Mr. Trump warnte. Dann, in den nächsten 36 Stunden, wechselte Twitter von der Aufhebung der Sperre von Mr. Trump zur dauerhaften Schließung seines Kontos und schnitt den Präsidenten von einer Plattform ab, auf der er ungefiltert nicht nur mit seinen 88 Millionen Anhängern, sondern mit der Welt kommuniziert hatte.

Die Entscheidung war ein Interpunktionszeichen für die Trump-Präsidentschaft, das sofort Vorwürfe politischer Voreingenommenheit und einer erneuten Überprüfung der Macht der Technologiebranche über den öffentlichen Diskurs hervorrief. Interviews mit einem Dutzend aktueller und ehemaliger Twitter-Insider in der vergangenen Woche öffneten ein Fenster, wie es gemacht wurde – angetrieben von einer Gruppe von Mr. Dorseys Leutnants, die die Vorbehalte ihres Chefs überwunden hatten, aber erst nach einem tödlichen Amoklauf im Capitol.

Nachdem Twitter die Suspendierung am nächsten Tag aufgehoben hatte, überwachte er die Reaktion auf Mr. Trumps Tweets im Internet, und Führungskräfte informierten Mr. Dorsey, dass Mr. Trumps Anhänger seine neuesten Nachrichten aufgegriffen hatten, um mehr Gewalt zu fordern. In einem Beitrag auf der alternativen Social-Networking-Website Parler sahen Mitglieder des Sicherheitsteams von Twitter, wie ein Trump-Fan die Milizen aufforderte, den gewählten Präsidenten Joseph R. Biden Jr. daran zu hindern, das Weiße Haus zu betreten, und gegen jeden zu kämpfen, der versuchte, sie aufzuhalten. Das Potenzial für weitere Unruhen in der realen Welt sei zu hoch.

Twitter stand auch unter dem Druck seiner Mitarbeiter, die jahrelang aufgeregt waren, Herrn Trump aus dem Dienst zu entfernen, sowie von Gesetzgebern, Technologieinvestoren und anderen. Aber während mehr als 300 Mitarbeiter einen Brief unterschrieben, in dem es heißt, dass das Konto von Herrn Trump gestoppt werden muss, wurde die Entscheidung, den Präsidenten zu sperren, getroffen, bevor der Brief an Führungskräfte zugestellt wurde, sagten zwei der Personen.

Am Mittwoch spielte Herr Dorsey auf die Spannungen innerhalb von Twitter an. In einer Reihe von 13 Tweets schrieb er, dass er “nicht gefeiert hat oder stolz darauf ist, dass wir @realDonaldTrump verbieten müssen”, weil “ein Verbot ein Versagen von uns ist, letztendlich gesunde Gespräche zu fördern”.

Aber Herr Dorsey fügte hinzu: „Dies war die richtige Entscheidung für Twitter. Wir waren mit einem außergewöhnlichen und unhaltbaren Umstand konfrontiert, der uns zwang, alle unsere Maßnahmen auf die öffentliche Sicherheit zu konzentrieren. “

Herr Dorsey, Frau Gadde und das Weiße Haus antworteten nicht auf Anfragen nach Kommentaren.

Seit Mr. Trump gesperrt wurde, wurden viele Bedenken von Mr. Dorsey bezüglich des Umzugs erkannt. Twitter war in eine heftige Debatte über die technische Macht und die mangelnde Rechenschaftspflicht der Unternehmen verwickelt.

Gesetzgeber wie der Republikaner Devin Nunes aus Kalifornien haben gegen Twitter gewettert, während Risikokapitalgeber aus dem Silicon Valley, First Amendment-Wissenschaftler und die American Civil Liberties Union das Unternehmen ebenfalls kritisiert haben. Gleichzeitig haben Aktivisten auf der ganzen Welt Twitter beschuldigt, einer Doppelmoral zu folgen, indem sie Mr. Trump abgeschnitten haben, aber keine Autokraten anderswo, die die Plattform nutzen, um Gegner zu schikanieren.

“Dies ist eine phänomenale Machtausübung, um den Präsidenten der Vereinigten Staaten zu entplattieren”, sagte Evelyn Douek, Dozentin an der Harvard Law School, die sich auf Online-Sprache konzentriert. “Es sollte eine breitere Abrechnung auslösen.”

Herr Trump, der 2009 zu Twitter kam, war ein Segen und ein Fluch für das Unternehmen. Seine Tweets machten auf Twitter aufmerksam, das manchmal Schwierigkeiten hatte, neue Benutzer anzulocken. Aber seine falschen Behauptungen und Drohungen im Internet veranlassten Kritiker auch zu der Aussage, dass die Website es ihm ermöglichte, Lügen zu verbreiten und Belästigungen zu provozieren.

Viele der mehr als 5.400 Mitarbeiter von Twitter waren dagegen, Mr. Trump auf der Plattform zu haben. Im August 2019, kurz nachdem ein Schütze bei einem Walmart in El Paso mehr als 20 Menschen getötet hatte, berief Twitter eine Mitarbeiterversammlung ein, um zu erörtern, wie der Schütze in einem Online-Manifest viele der Ansichten, die Herr Trump auf Twitter gepostet hatte, wiederholt hatte.

Bei dem Treffen, das als “Flock Talk” bezeichnet wurde, sagten einige Mitarbeiter, Twitter sei “mitschuldig”, indem sie Herrn Trump ein Megaphon gaben, um seinen Anhängern “Hundepfeife” zu geben, sagten zwei Teilnehmer. Die Mitarbeiter flehten die Führungskräfte an, Änderungen vorzunehmen, bevor mehr Menschen verletzt wurden.

Im Laufe der Zeit wurde Twitter proaktiver in Bezug auf politische Inhalte. Im Oktober 2019 beendete Herr Dorsey jegliche politische Werbung auf der Website und sagte, er befürchte, dass solche Anzeigen “erhebliche Auswirkungen haben, auf die die heutige demokratische Struktur möglicherweise nicht vorbereitet ist”.

Aber Herr Dorsey, ein Befürworter der Redefreiheit, lehnte es ab, die Posten der Weltführer zu streichen, weil er sie für aktuell hielt. Seit Twitter in diesem Jahr angekündigt hat, den führenden Politikern der Welt, die gegen seine Regeln verstoßen haben, mehr Spielraum zu geben, hatte das Unternehmen seine Tweets nur einmal entfernt: Im März letzten Jahres wurden Nachrichten der Präsidenten von Brasilien und Venezuela gelöscht, die falsche Heilmittel für das Coronavirus förderten. Herr Dorsey lehnte die Umzüge ab, sagte eine Person mit Kenntnis seines Denkens.

Herr Dorsey drängte auf eine Zwischenlösung: Anhängen von Etiketten an Tweets von Weltmarktführern, wenn die Beiträge gegen die Richtlinien von Twitter verstoßen. Im Mai, als Herr Trump ungenaue Informationen über Mail-In-Abstimmungen twitterte, gab Herr Dorsey Twitter die Erlaubnis, die Nachrichten des Präsidenten zu kennzeichnen.

Nach der Wahl am 3. November twitterte Herr Trump, dass es ihm gestohlen worden sei. Innerhalb weniger Tage hatte Twitter laut einer New York Times-Bilanz etwa 34 Prozent seiner Tweets und Retweets beschriftet.

Dann stürmte das Kapitol.

Am 6. Januar, als sich der Kongress traf, um die Wahl zu bestätigen, feierten die Führungskräfte von Twitter die Übernahme von Ueno, einem Marken- und Designunternehmen. Herr Dorsey, der oft Exerzitien gemacht hat, war auf die südpazifische Insel gereist, sagten die Leute mit Kenntnis seines Standorts.

Als Herr Trump Twitter nutzte, um Vizepräsident Mike Pence anzugreifen und das Wahlergebnis in Frage zu stellen, fügte das Unternehmen seinen Tweets Warnungen hinzu. Dann, als im Kapitol Gewalt ausbrach, drängten die Leute Twitter und Facebook, Mr. Trump komplett offline zu schalten.

Dies führte zu virtuellen Diskussionen zwischen einigen Leutnants von Herrn Dorsey. Zur Gruppe gehörten Frau Gadde, eine Anwältin, die 2011 zu Twitter gekommen war; Del Harvey, Vizepräsident für Vertrauen und Sicherheit; und Yoel Roth, der Leiter der Website-Integrität. Frau Harvey und Herr Roth hatten dazu beigetragen, die Reaktionen des Unternehmens auf Spam, Belästigung und Wahlstörungen zu verbessern.

Die Führungskräfte beschlossen, Herrn Trump zu suspendieren, weil seine Kommentare den Mob anzuregen schienen, sagten die Leute mit Kenntnis der Diskussionen. Frau Gadde rief dann Herrn Dorsey an, der nicht erfreut war, sagten sie.

Herr Trump wurde nicht vollständig gesperrt. Wenn er mehrere Tweets löschte, die den Mob geschürt hatten, würde es eine 12-stündige Bedenkzeit geben. Dann konnte er wieder posten.

Nachdem Twitter Mr. Trumps Konto gesperrt hatte, tat Facebook dasselbe. Auch Snapchat, Twitch und andere haben Mr. Trump Grenzen gesetzt.

Aber Herr Dorsey wurde nicht wegen eines dauerhaften Verbots von Herrn Trump verkauft. Am nächsten Tag schickte er eine E-Mail an die Mitarbeiter und sagte, es sei wichtig, dass das Unternehmen seine Richtlinien einhalte, einschließlich der Rückkehr eines Benutzers nach einer Suspendierung.

Viele Arbeiter, die befürchteten, dass die Geschichte sie nicht freundlich sehen würde, waren unzufrieden. Mehrere beriefen sich auf die Zusammenarbeit von IBM mit den Nazis, sagten aktuelle und ehemalige Twitter-Mitarbeiter, und starteten eine Petition, um Mr. Trumps Konto sofort zu entfernen.

Am selben Tag sperrte Facebook Herrn Trump mindestens bis zum Ende seiner Amtszeit. Aber er kehrte an diesem Abend mit einem Video zu Twitter zurück, in dem er sagte, dass es einen friedlichen Machtwechsel geben würde.

Am nächsten Morgen war Mr. Trump wieder da. Er twitterte, dass seine Basis eine “RIESENSTIMME” haben würde und dass er nicht an der Einweihung am 20. Januar teilnehmen würde.

Das Sicherheitsteam von Twitter sah sofort, wie Trump-Fans, die gesagt hatten, der Präsident habe sie verlassen, über weitere Unruhen berichteten, sagten die Leute mit Kenntnis der Angelegenheit. In einer vom Sicherheitsteam überprüften Parler-Nachricht sagte ein Benutzer, dass jeder, der sich wie er gegen „amerikanische Patrioten“ aussprach, Washington verlassen oder während der Einweihung körperlichen Schaden riskieren sollte.

Das Sicherheitsteam begann mit der Ausarbeitung einer Analyse der Tweets und der Frage, ob sie Gründe für den Start von Mr. Trump darstellten.

Gegen Mittag in San Francisco rief Herr Dorsey zu einem Mitarbeitertreffen an. Einige drängten ihn darauf, warum Mr. Trump nicht dauerhaft gesperrt war.

Herr Dorsey wiederholte, dass Twitter im Einklang mit seinen Richtlinien stehen sollte. Aber er sagte, er habe eine Linie in den Sand gezogen, die der Präsident nicht überschreiten könne, oder Mr. Trump würde seine Kontoprivilegien verlieren, sagten Leute mit Kenntnis des Ereignisses.

Nach dem Treffen waren sich Herr Dorsey und andere Führungskräfte einig, dass die Tweets von Herrn Trump an diesem Morgen – und die Antworten, die sie provoziert hatten – diese Grenze überschritten hatten, sagten die Leute. Der Mitarbeiterbrief, in dem um die Entfernung von Herrn Trump gebeten wurde, wurde später zugestellt, sagten sie.

Innerhalb weniger Stunden war Mr. Trumps Konto verschwunden, mit Ausnahme eines Etiketts mit der Aufschrift “Konto gesperrt”. Er versuchte, über das @ POTUS-Konto zu twittern, das das offizielle Konto des US-Präsidenten ist, sowie über andere. Aber auf Schritt und Tritt vereitelte Twitter ihn, indem er die Nachrichten herunterzog.

Einige Twitter-Mitarbeiter haben aus Angst vor dem Zorn der Unterstützer von Mr. Trump ihre Twitter-Konten nun auf privat gesetzt und Erwähnungen ihres Arbeitgebers aus Online-Biografien entfernt, sagten vier Personen. Mehrere Führungskräfte erhielten persönliche Sicherheit.

Twitter hat auch sein Vorgehen gegen Konten, die Gewalt fördern, ausgeweitet. Am Wochenende wurden mehr als 70.000 Konten entfernt, die die QAnon-Verschwörungstheorie vorangetrieben haben, wonach Herr Trump gegen eine Kabale von Pädophilen kämpft, die Satan verehren.

Am Mittwoch versammelten sich Mitarbeiter virtuell, um die Entscheidung zu besprechen, Herrn Trump zu sperren, sagten zwei Teilnehmer. Einige waren dankbar, dass Twitter Maßnahmen ergriffen hatte, während andere darauf aus waren, die Trump-Ära hinter sich zu lassen. Viele waren emotional; einige weinten.

An diesem Nachmittag kehrte Herr Trump erneut zu Twitter zurück, diesmal unter Verwendung des offiziellen @ WhiteHouse-Kontos, um ein Video zu teilen, in dem er Gewalt verurteilte – aber auch das anprangerte, was er als Einschränkungen der Redefreiheit bezeichnete. Twitter erlaubte dem Video, online zu bleiben.

Eine Stunde später twitterte Herr Dorsey sein Unbehagen über die Entfernung von Herrn Trumps Online-Konten. Es “stellt einen Präzedenzfall dar, den ich für gefährlich halte: die Macht, die eine Person oder ein Unternehmen über einen Teil des globalen öffentlichen Gesprächs hat”, schrieb er.

Aber er schloss: “Alles, was wir in diesem Moment lernen, wird unsere Bemühungen verbessern und uns dazu drängen, das zu sein, was wir sind: eine Menschheit, die zusammenarbeitet.”

Categories
Health

Money burn reduce in half

Cash burn cut in half

A Delta Air Lines plane lands at Los Angeles International Airport

Mario Tama | Getty Images

Delta Air Lines cut its cash burn in half in the fourth quarter and expects to be profitable this summer. This is a positive forecast after the coronavirus pandemic led the airline into its worst year ever.

Delta posted a net loss of nearly $ 12.39 billion in 2020 – a record and the Atlanta-based airline’s first annual loss since 2009.

Delta posted a net loss of $ 755 million for the fourth quarter compared to a profit of $ 1.1 billion a year earlier. Total revenue decreased 65% from $ 11.44 billion in the fourth quarter of 2019 to $ 3.97 billion. The company’s sales increased $ 441 million from the sale of third-party refineries. Adjusted, Delta posted a loss per share of $ 2.53, compared to analysts’ estimates of a loss of $ 2.50 per share.

However, the airline’s losses and cash consumption are on the decline, and the start of vaccine distribution has sparked optimism that travelers will return to heaven in the coming months.

Delta stock rose 2.5% to $ 41.47 on Thursday.

The carrier’s cash burn averaged $ 12 million per day for the quarter ended December 31, halving the average cash burn of $ 24 million per day in the third quarter.

The airline will face tough months in the coming months, but is aiming for a recovery in 2021 as Covid vaccines are administered across the country, CEO Ed Bastian said.

“As our challenges continue into 2021, I am optimistic that this will be a year of recovery and a turning point that will result in an even stronger delta return to revenue growth, profitability and free cash generation,” said Bastian.

Delta expects sales for the first quarter of the year to drop 60% to 65% year over year, just as the pandemic began. That’s worse than analysts’ estimates for a 48% year-over-year decline.

The pandemic devastated demand for travel as concerns about the virus, quarantines, travel restrictions and breaks in business travel kept millions of potential customers home. The Transportation Security Administration examined only 324 million travelers last year, up from 824 million in 2019.

Most of the demand is still coming from vacation travel and is likely to remain so in the medium term, Delta executives said on a earnings call Thursday. This is a challenge for Delta as it relied heavily on business travelers prior to the pandemic. A recent survey found that 51% of Delta’s corporate customers believe their business travel will return to 2019 levels by 2023, and 40% said they will return by 2022, according to Bastian. The demand for business travel has increased, dominated by small and medium-sized businesses.

International travel is also now more difficult than it was before the pandemic, as governments put in place entry restrictions as well as quarantine and testing requirements. On Tuesday, the Centers for Disease Control and Prevention said travelers, including U.S. residents, must prove they have tested Covid negative before heading to the U.S.

Bastian said he discussed with the CDC potential issues such as very short trips or a lack of available tests.

“I personally have had a number of conversations with Dr. [CDC Director Robert] Redfield, “he said.” So we’re working on the implementation details. I think it’s absolutely right for our industry in the long run, but it will cause hiccups in the short term. “

Here’s how Delta performed compared to Wall Street expectations for the quarter, based on average estimates made by Refinitiv:

  • Adjusted earnings per share: a loss of $ 2.53 versus an expected loss of $ 2.50
  • Total revenue: $ 3.97 billion versus expected $ 3.59 billion in revenue

Delta warned that the recovery will take time.

“The early part of the year will be marked by a troubled rebound in demand and a booking curve that remains compressed, followed by a tipping point and finally a sustained rebound in demand as customer confidence builds, vaccinations become widespread and offices reopen.” Delta President Glen Hauenstein said in the earnings release.

Delta announced it closed the fourth quarter with cash of $ 16.7 billion. Delta took on billions in debt last year, including a record $ 9 billion sale supported by the SkyMiles frequent flyer program.

The airline and its rivals are receiving additional federal funding to help weather the crisis. Congress approved additional $ 15 billion in state aid to airlines to pay workers late last year, on top of $ 25 billion in state salary support they received under the March CARES bill.

Subscribe to CNBC Pro to see the full interview with Delta CEO Ed Bastian.

Categories
Health

Economists lower forecasts for Malaysia’s 2021 progress on Covid lockdown

Economists cut forecasts for Malaysia’s 2021 growth on Covid lockdown

A woman can be seen in Kuala Lumpur with a Malaysia flag as a background.

SOPA pictures | Getty

SINGAPORE – Several economists have cut their growth forecasts for Malaysia for 2021 after the country announced stricter measures to contain a recent surge in Covid-19 cases.

The Malaysian government imposed a nationwide interstate travel ban and a ban on six states and territories for two weeks from Wednesday. The king of the country also declared a state of emergency which will last until August 1 or earlier if Covid cases are effectively lowered.

Here are some economists who have cut their forecasts for Malaysia:

  • Capital Economics, a consulting firm, said the Southeast Asian country will grow 7% this year, up from its previous forecast of 10%;
  • The Singaporean bank UOB downgraded its forecast from 6% to 5%;
  • The Japanese bank Mizuho lowered its forecast from 6.7% to 5.9%;
  • Fitch Solutions has lowered its forecast from 11.5% to 10%.

Malaysia was one of the worst performing economies in Asia over the past year. The International Monetary Fund announced in October that the Malaysian economy would contract 6% in 2020, up from 4.3% last year.

Alex Holmes, Asian economist with Capital Economics, said in a report Tuesday that Malaysia’s recent lockdown “is likely to hit the economy hard”. He pointed out that the six restricted states and areas – including the capital Kuala Lumper and Malaysia’s richest state, Selangor – account for 57% of the population and 65% of the gross domestic product.

The lockdown – known locally as a movement control order or MCO – includes banning all social gatherings and dine-ins, closing schools, and opening only “essential” businesses.

Most of the rest of the country has been made less stringent, with most companies allowed to operate but prohibited activities involving large gatherings.

UOB economists said in a Wednesday report that their growth forecast downgrade assumed the restrictions would be extended for another four weeks through the end of February. However, the macroeconomic impact of the latest measures is likely to be “less severe” than last year when the whole country was locked down, the economists added.

‘Blessing in disguise’

The state of emergency declared on Tuesday shook the country’s stocks and currency.

But the move will remove the short-term political uncertainty the country has struggled with over the past year – and that could be “a blessing in disguise” for the Malaysian ringgit, said Lavanya Venkateswaran, market economist at Mizuho.

The currency was down 0.5% against the US dollar in response to Tuesday’s state of emergency announcement. Since then it has strengthened against the greenback and has more than made up for these losses.

Malaysian Prime Minister Muhyiddin Yassin said that in a state of emergency there would be no curfew and that the government and judicial system would continue to function. But parliament will be suspended and elections cannot be held, he said.

Muhyiddin came to power in March last year and has been increasingly called on by his ruling coalition to resign and make way for an early election.

The emergency statement “removes unnecessary and self-inflicted political uncertainties that could jeopardize the political response to the COVID resurgence,” Venkateswaran wrote in a report on Tuesday.

“Instead a stable political platform to (the) An emergency pandemic is ultimately positive in getting the economy going again. “ She said.

Categories
Business

Apple and Google Reduce Off Parler, an App That Drew Trump Supporters

Apple and Google Cut Off Parler, an App That Drew Trump Supporters

According to a group of Amazon employees, Amazon assists Parler in operation by hosting its web traffic on its servers. These employees and at least one member of Congress have asked Amazon to ban Parler from this service, which could jeopardize its viability. Amazon did not respond to a request for comment.

Apple’s action is more of an issue for Parler than Google, as Apple requires all iPhone apps to go through the App Store. Google cut Parler out of its flagship Android app store, but it also allows apps to be downloaded from elsewhere, so Android users can still find the Parler app, just with a little more work. Parler will continue to be available through web browsers on phones and computers.

Before Apple blocked Parler on Saturday, Apple had given the company 24 hours to improve moderation and avoid being removed from the App Store. During this time, Parler appeared to have tried to remove some areas that appeared to call for violence.

For example, L. Lin Wood, an attorney who sued to overturn Mr. Trump’s election loss, wrote on Parler Thursday morning: “Prepare the firing squad. Pence goes first. “According to a screenshot in the Internet archive, the post was viewed at least 788,000 times. The post was removed on Saturday morning.

In a text message, Mr. Matze said the item had been removed “in accordance with Parler’s Terms of Use and Anti-Incitement to Violence Rules”. He said he wasn’t sure Apple knew Parler removed the post.

In a statement to Parler on Saturday, Apple said it had “continued to find direct threats of violence and incitement to illegal activity” in the app. Apple informed the company that its app cannot be approved in the App Store until “you have demonstrated your ability to effectively moderate and filter the dangerous and harmful content of your service”.

In an interview, Jeffrey Wernick, Parler’s chief operating officer, blamed “a culture of abandonment at Apple” for the company’s poor prospects. He said he would advise other platforms not to try and compete on Apple’s App Store. “Because if you raise money and attract investors and end up like Parler, what is it about?” he said.

Categories
Business

Semiconductor scarcity causes Ford and Nissan to chop automobile manufacturing

Semiconductor shortage causes Ford and Nissan to cut vehicle production

A Ford Escape Sport Utility Vehicle (SUV) undergoes a final inspection during production at the Ford Motor Co. assembly plant in Louisville, Kentucky, United States on Tuesday, April 28, 2015.

Luke Sharrett | Bloomberg | Getty Images

Ford Motor and Nissan Motor on Friday confirmed they were reducing vehicle production at plants in the US and Japan due to a semiconductor shortage, indicating growing concerns in the global auto industry in 2021.

Ford will shut down an SUV plant in Kentucky next week while Nissan is cutting production at a plant in Japan. Both companies said they are working closely with suppliers to resolve the situation and monitor for additional impacts.

Automakers and suppliers warned of a semiconductor shortage late last year after vehicle demand rose faster than expected after a two-month shutdown of production facilities due to the coronavirus pandemic.

Semiconductors are extremely important components of new vehicles for everything from infotainment systems to other more traditional parts like power steering. They are also easily used in consumer electronics.

German automaker Volkswagen announced last month it had adjusted production at plants in China, North America and Europe due to a lack of semiconductor shipments, according to Reuters. America’s largest automaker, General Motors, has not had to cut production, but the company is closely monitoring the situation, spokesman David Barnas said.

“We are aware of increased demand for semiconductor microchips as the auto industry continues to recover around the world,” he said in a statement sent via email. “Our supply chain organization works closely with our supply base to find solutions to our suppliers’ semiconductor needs and to reduce the impact on GM production.”

Ford’s affected plant, the Louisville Assembly Plant, builds the Ford Escape and Lincoln Corsair SUVs and employs around 3,900 hourly workers. According to Ford spokeswoman Kelli Felker, due to the shortage, it will be postponed to another planned one-week shutdown later in the year due to the shortage.

“We are working closely with suppliers to address potential production restrictions related to the global semiconductor shortage,” she said in a statement sent via email.

The affected Nissan plant, the Japanese Oppama plant, is building the Note, a small car that is not sold in the United States. Lloryn Love-Carter, a Nissan spokeswoman in the US, said the company’s domestic production was not affected by the semiconductor shortage.

“We are working closely with our supplier partners to monitor the situation and assess the potential impact on our operations in North America,” she said in a statement sent via email.

Categories
Health

U.S. Food plan Pointers Sidestep Scientific Recommendation to Lower Sugar and Alcohol

U.S. Diet Guidelines Sidestep Scientific Advice to Cut Sugar and Alcohol

“The report was introduced as science-based – they used the word ‘science’ many times and made a big point of it,” she added. “But they ignored the scientific committee they appointed, which I found amazing.”

In other respects, the new guidelines are consistent with previously issued federal recommendations. Americans are encouraged to eat healthier foods like vegetables, fruits, legumes, whole grains, nuts, seafood, low-fat or fat-free dairy products, and lean meats and poultry.

The guidelines urge the nation to consume less saturated fat, sodium and alcohol, and limit caloric intake.

Indeed, officials from the Center for Science in the Public Interest, an advocacy group, said they were pleased that the guidelines continued to affirm diets high in fruits and vegetables and less in red meat and processed meat, despite saying they were “Missed the mark” “On added sugars.

Jessi Silverman, a CSPI registered nutritionist and public health advocate, urged Biden’s new government to take action to remove barriers to healthy eating, such as restoring nutritional standards for whole grains, sodium and milk within the national framework School feeding programs were rolled back under President Trump.

For the first time, the guidelines take a “life-cycle approach” and seek to outline comprehensive advice for pregnant and breastfeeding adults, as well as children under 2 years of age.

One of the recommendations for pregnant women, pregnant women, and nursing mothers is to eat plenty of seafood and fish, which are high in omega-3 fatty acids but low in methylmercury and which can have deleterious effects on a developing fetus. This eating pattern has been linked to healthier pregnancies and better cognitive development in children.

Categories
Business

Coca-Cola will minimize 2,200 jobs worldwide as a part of restructuring plan

Coca-Cola will cut 2,200 jobs worldwide as part of restructuring plan

Cans made for the Cola drink by Coca-Cola Co. move along the production line.

Chris Ratcliffe | Bloomberg | Getty Images

Coca-Cola will cut around 2,200 jobs in its global workforce as part of a broader restructuring plan accelerated by the coronavirus pandemic.

In the United States, Coke will use layoffs and acquisitions to cut about 1,200 jobs, representing about 12% of the workforce in its home market. The news was first reported by the Wall Street Journal.

At the end of 2019, the Atlanta-based company had 86,200 employees worldwide. But the pandemic has weighed on their revenues and increased costs for the beverage giant. Around half of sales are typically made by consumers who drink their beverages from home. Net sales decreased 9% in the third quarter.

Coke has responded to the crisis and accelerated its plans to restructure its business and reduce its portfolio. The production of beverages such as Tab and the Odwalla brand, which do not sell well and do not offer great growth opportunities, has ceased. The company plans to build new operational units at the regional and local levels, working closely with five global marketing leadership teams divided by category.

Part of the restructuring includes job cuts. In August, Coke announced it would offer voluntary layoffs to 4,000 workers in the US, Canada and Puerto Rico.

Overall, Coke expects to spend $ 350 million to $ 550 million on severance costs. The employees of the bottlers are not included in the job losses.

Coke’s shares, valued at $ 230 billion, rose less than 1% in afternoon trading. The stock is down 3% in 2020.