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Business

Markets Rebound After Stimulus Bundle Is Handed: Reside Enterprise Updates

stimulus

Recognition…Ringo Chiu / Agence France-Presse – Getty Images

The pandemic relief bill includes $ 285 billion through March 31 for additional credit under the Paycheck Protection Program – the government’s small business program created under the CARES Act – while removing the restriction that put more than $ 100 billion in the summer. Dollars not spent. Stacy Cowley of the New York Times shares what we know based on the outline of the law that circulated among Congressional officials on Monday:

  • The new credit relief bill provides a second cash infusion for those meeting stricter conditions: Borrowers with fewer than 300 employees who have seen a 25 percent year-over-year revenue decline in at least one quarter could apply for an additional loan of up to $ 2 million Qualify dollars.

  • Hotels and food service companies are eligible for larger loans this time, up to 3.5 times their average monthly payroll. Other borrowers, in turn, would be limited to 2.5 times their payroll.

  • Listed companies will not be eligible for the new loans, removing a provision that caused public outcry as restaurant chains, software companies and drug makers, among others, received taxpayer-funded loans.

  • The new bill expands the list of expenses that could be paid for with a loan, which was previously mainly limited to payroll, rent, and utilities. Companies could now use the money to buy supplies from their suppliers, buy protective equipment for their employees, or repair property damage “due to public disruption,” according to a summary by the House Small Business Committee.

  • The plan would allow business owners who received tax-free loans under the program to claim deductions for expenses they paid for with loan proceeds.

  • The bill would also provide the Small Business Administration with $ 50 million for audits and other anti-fraud measures in the program, which was a significant problem in the first round of funding.

  • The bill contains other relief measures that are not specifically part of the paycheck protection program but could still help many small businesses. This includes a $ 15 billion grant fund for closed theaters, museums, zoos, and venues for live events, and $ 12 billion for community development financial institutions that provide loans and grants to people and communities who often don’t are able to get traditional banks to do business with them.

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Business

Tesla Joins the S&P 500: Dwell Inventory Market Updates

Here’s what you need to know:

By: Ella Koeze·Source: Refinitiv

Financial markets were jolted on Monday by the news that a fast-spreading variant of the coronavirus had led to the suspension of some trade and travel with Britain and another lockdown in London, a new threat that overshadowed progress in Washington toward a long-awaited economic aid package.

But Wall Street’s major benchmarks bounced off their lowest levels of the day, with the Dow Jones industrial average recouping all of its losses and the S&P 500 index down a little more than half a percent by 1 p.m. in New York.

The retreat was sharper in Europe, where the Stoxx Europe 600 index dropped 2.7 percent. The FTSE 100 in Britain fell 1.7 percent, while the FTSE 250, which includes companies that are more oriented to the British economy, declined more than 2 percent.

The British pound fell against all other major currencies. It declined as much as 1.8 percent against the dollar. Crude oil prices were nearly 4 percent lower, but also off of their worst levels of the day.

Over the weekend, nearby countries shut their borders to travelers from Britain as London and the surrounding area were put into a lockdown after the government’s health secretary said a new strain of the coronavirus was “out of control.” France also stopped freight imports from Britain, a move that will worsen border disruptions and has raised concerns about the supply of fresh food.

By Monday, some countries outside of Europe also began to close their borders to travelers. Israel said most foreign nationals wouldn’t be allowed to enter, while Saudi Arabia announced a one week ban on all international travel.
But concern about the economic impact of such restrictions didn’t weigh on Wall Street quite as heavily as it did in Europe, in part because of the fact that congressional leaders have reached a deal on a $900 billion stimulus package, which is expected to include $600 stimulus payments to millions of Americans and strengthen unemployment benefits.

The congressional spending package is expected to include most of the elements that economists have long said were crucial to avoiding further calamity and aiding a recovery. It extends unemployment benefits for millions at risk of losing them, and adds money to their checks to help pay their bills. It revives the Paycheck Protection Program, which kept many small businesses afloat last spring.

Trading in the U.S. did reflect some concerns about the new restrictions in Europe. Shares of Airlines, cruise lines and casinos — companies that will be hardest hit by travel restrictions — fared poorly. As crude oil prices retreated, reflecting worry about the global economy, energy stocks were also amng the worst performers.

But another factor was also weighing on the S&P 500 on Monday — the addition of Tesla to the index.

With a market cap of more than $600 billion, Tesla is the largest ever addition to the index, requiring roughly $90 billion worth of trading as fund managers who have to try and match their holdings to the index have to sell other stock.

Gainers were concentrated in the financial sector, after the Federal Reserve on Friday said that the country’s largest banks were sturdy enough financially to survive a severe economic shock related to the pandemic. The Fed will allow them to return more money to shareholders in early 2021 as long as the banks show that they are profitable.

Goldman Sachs rose over 7 percent, Morgan Stanley jumped nearly 6 percent and JPMorgan Chase climbed more than 4 percent.

United States › United StatesOn Dec. 20 14-day change
New cases 179,803 +10%
New deaths 1,422 +19%
World › WorldOn Dec. 20 14-day change
New cases 536,082 +4%
New deaths 7,561 +5%

Where cases per capita are
highest

U.K. Virus Crisis

Credit…Andy Rain/EPA, via Shutterstock

British shoppers were warned Monday of the possibility of a “serious disruption to U.K. Christmas fresh food supplies” stemming from France’s decision to suspend all trucks arriving from Britain.

Consumers were advised by trade groups not to panic shop in the days leading to Friday’s Christmas holiday.

France is trying to stop the spread of a more contagious strain of coronavirus that Britain’s health minister said had grown “out of control” in parts of England. Over the weekend, Prime Minister Boris Johnson announced tighter restrictions on people living in London and the surrounding area.

On Sunday night, France suspended the arrival of goods that are transported by truck and cross the English Channel either via ferry or through the Eurotunnel, over fears the drivers could carry the disease. The rules are to last 48 hours.

As a result, the Port of Dover, just 21 miles across the Channel from France and one of Europe’s busiest ferry ports, with just two operators moving 10,000 trucks each day, was closed to outbound traffic on Monday. About 20 miles west, the transport hub at Folkestone, connected to France by the Eurotunnel, was also closed. Truck drivers bound for the continent parked along the roadways leading to Dover, in a procedure known as Operation Stack that was devised to deal with potential disruptions caused by Brexit.

Grant Shapps, Britain’s transport minister, said about 20 percent of the freight moving in and out of England was affected by the closures. Unaccompanied goods — such as those loaded in shipping containers, carried on vessels — will continue to be admitted into France and goods can still be driven to other countries, such as the Netherlands, from smaller ports.

Still, Britain relies on imported fresh fruit and vegetables trucked in from Europe, especially in the winter. Food can still be taken by truck from France into Britain, but there are concerns truck drivers won’t go if they risk getting marooned in Britain.

The travel ban has “the potential to cause serious disruption to U.K. Christmas fresh food supplies — and exports of U.K. food and drink,” Ian Wright, the chief executive of the Food and Drink Federation, said in a statement.

The closure of ports is also disrupting parcel deliveries. Deutsche Post DHL said deliveries of parcels to Britain would also be stopped as more countries impose travel bans on Britain.

Mr. Johnson said on Monday afternoon that “the vast majority of food, medicines and other supplies are coming and going as normal.” In a news conference, Mr. Johnson added that he was in touch with French President Emmanuel Macron to try to find a way to get goods moving again “as fast as possible.”

The impact is also being felt in France, where shipments of fresh fish and shellfish will not arrive. Britain sends more seafood to the European Union than it imports, especially stocks of salmon, lobster and langoustines. A Scottish salmon trade group warned that more than £1 million of fresh salmon would be caught up in the port closure during this peak season.

The BBC reported that Sainsbury’s, one Britain’s largest supermarkets, said food for Christmas was already in hand, but if the travel suspension lasted longer, there would be “gaps over the coming days” in items such as lettuce, salad leaves, cauliflowers, broccoli and citrus fruit.

About a quarter of food consumed in Britain is imported from the European Union, Research from the London School of Economics estimated that more than half of the tomatoes, onions, cucumbers, mushrooms, peppers and lettuce Britain consumes are imported. And 75 percent to 100 percent of these were from the European Union last year.

Because Britain is set to end its transition period for leaving the European Union on Dec. 31, importers of many goods, including medicines, had already been stockpiling. London and Brussels haven’t reached a trade deal yet, and so importers have sought to get goods into the country ahead of customs checks and, potentially, new tariffs, actions that have caused delays and congestion at larger container ports.

U.K. Virus Crisis

Passenger numbers on the Eurostar have plunged 95 percent since March.Credit…Suzie Howell for The New York Times

A bad year for Eurostar, the international high-speed train, turned worse on Monday.

The sleek and speedy mode of travel that ties London, Paris, Amsterdam and other cities is a shadow of itself, crippled by the pandemic:

  • Its ridership has all but vanished.

  • Its finances are threatened.

  • More than 90 percent of its employees have been furloughed, one of its union said.

Heightening the crisis, all service from London to Paris, Brussels and Amsterdam was suspended on Monday for at least 48 hours as governments on the continent banned travelers from Britain, a precaution as health officials try to control a new variant of coronavirus sweeping across parts of England. Trains will continue operating from Paris to London, the company said.

The company’s woes reflect a struggle for survival playing out across the European train industry, as the pandemic continues to upend the business of transportation. Like Europe’s airlines, the railway sector is facing its worst crisis in modern history, reports Liz Alderman for The New York Times.

Ridership has slumped 70 to 90 percent amid lockdowns and social-distancing requirements, pushing the industry toward a staggering 22 billion euros in losses this year, around the same expected for European airlines, according to CER, a Brussels-based trade group representing passenger and freight train operators. Thousands of trains have been mothballed, and tens of thousands of workers are on government-subsidized furloughs.

“It’s a totally extraordinary situation,” said Libor Lochman, CER’s executive director. “There is no comparison for it, and it can and will lead to the bankruptcy of a number of companies, unless there is the political will to prevent it.”

With more than nine billion passengers and 1.6 billion tons of freight carried on tracks stretching from Spain to Sweden, Europe’s trains are as vital as planes for whisking people and goods across the continent.

But even after the pandemic, analysts say work-from-home practices, online socializing and the rise of internet shopping will have a lasting impact on rail travel of all types, leaving privately owned companies like Eurostar and state railways including DeutscheBahn in Germany and SNCF of France, Eurostar’s biggest shareholder, struggling to survive.

The Department of Housing and Urban Development has extend a moratorium on evictions and foreclosures on home mortgages its insures against default, protecting many first-time home buyers.

The moratorium will now run through Feb. 28. It had been set to expire at the end of the month.

The foreclosure moratorium applies to mortgages backed by the Federal Home Administration, a division of the federal housing department. In recent years, F.H.A. guaranteed mortgages have become a major way for first-time buyers to acquire homes. The biggest underwriters of F.H.A. mortgages have been so-called nonbank lenders that are not affiliated with a major bank.

HUD is also similarly extending the deadline for cash-strapped homeowners to seek a reprieve from making full mortgage payments for up to six months.

The HUD extensions are just the latest efforts by government housing officials to help homeowners. Earlier this month, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, extended the foreclosure moratorium for home loans guaranteed against default by those two big mortgage finance firms through the end of January.

The stimulus legislation under negotiation in Congress is expected to contain measures to help renters as well.

The new coronavirus stimulus agreement being finalized by Congress would make a fresh attempt to help Black Americans and other minorities who have been especially affected by the pandemic.

According to summaries of the bill prepared by Democrats in the House of Representatives, $12 billion out of the $900 billion aid package will be set aside for Community Development Financial Institutions, known as C.D.F.I.s, which make loans and grants to people and communities frequently unable to get traditional banks to do business with them.

The new aid package would give $3 billion to the Treasury for the C.D.F.I. Fund, a pool of money that C.D.F.I.s can draw from to make loans. Another $9 billion would be set aside for the Treasury to make more targeted investments in C.D.F.I.s and Minority Development Institutions, which also help distribute loans and grants in communities neglected by traditional banks.

These changes should help the kinds of minority-owned businesses that struggled to get help under earlier relief efforts. The Paycheck Protection Program, for example, relied heavily on the banking system to hand out forgivable loans to small businesses. But that put many Black business owners at an immediate disadvantage because they lacked lending relationships with traditional banks.

Research by social scientists in Utah and New Jersey has shown that Black business owners had a harder time getting Paycheck Protection Program aid compared with white business owners, and a survey by community advocates revealed that many minority-owned businesses did not get the help they asked for.

C.D.F.I.s, which are often nonprofits, became the go-to lenders for these business owners as they tried stay afloat during pandemic-induced lockdowns. But the Treasury Department was slow to allow many C.D.F.I.s to participate in the Paycheck Protection Program, and Congress set aside only a tiny portion of the initial aid package specifically for them. Only later, with $10 billion apportioned to C.D.F.I.s in late May, as well as grants from big banks like Goldman Sachs, did many C.D.F.I.s have the capacity needed to help minority communities.

Speaker Nancy Pelosi in the Capitol on Monday. After months of gridlock and debate, the House and Senate are expected to approve the spending measures on Monday.Credit…Stefani Reynolds for The New York Times

After congressional leaders struck a long-sought agreement on a $900 billion pandemic relief package, lawmakers in both chambers on Monday will race to finalize legislative text and send the measure to President Trump’s desk before government funding lapses.

An agreement in principle was reached late Sunday afternoon, hours before a midnight deadline to avoid a government shutdown. With additional time needed to transform their agreement into legislative text, both chambers had to approve a one-day stopgap spending bill, giving them an additional 24 hours to finalize the deal.

Lawmakers will have just a few hours to review the $2.3 trillion in relief legislation and a catchall omnibus to keep the government funded for the remainder of the fiscal year. But the process of compiling the behemoth package was already running into issues, according to aides familiar with the process, with a corrupt computer file in the education portion of the package delaying attempts to merge and upload the pieces of legislation.

But after months of gridlock and debate, both chambers are expected to approve the spending measures on Monday and send them to the president for his approval.

While the deal needs Mr. Trump’s signature, it bears, in part, the imprint of the man who is about to succeed him. President-elect Joseph R. Biden Jr. was not directly involved in the talks but Democratic aides said they have been in close contact with Mr. Biden’s team — and while the former Delaware senator suggested the package was not nearly enough to address the crisis, he promoted the pact as the sort of bipartisan deal that could become routine on his watch.

“I am optimistic that we can meet this moment, together,” he said in a statement released late Sunday. “My message to everyone out there struggling right now: Help is on the way.”

The magnitude of the challenge facing Mr. Biden was revealed in those two sentences.

He is eager to rush billions more in aid to localities and those hit hardest by the pandemic — aligning him with party progressives — but he also needs to gain leverage over Senate Republicans in future negotiations by convincing some Trump supporters he is willing to work with them.

The $900 billion agreement is set to provide $600 stimulus payments to millions of American adults earning up to $75,000. It would revive lapsed supplemental federal unemployment benefits at $300 a week for 11 weeks — setting both at half the amount provided by the first pandemic relief package in March.

The final proposal will also include $69 billion for the distribution of a Covid-19 vaccine and more than $22 billion for states to conduct testing, tracing and coronavirus mitigation programs.

The agreement is also expected to:

  • Continue and expand benefits for gig workers and freelancers, and extend federal payments for people whose regular benefits have expired.

  • Provide more than $284 billion for businesses and revive the Paycheck Protection Program, a popular federal loan program for small businesses that lapsed over the summer.

  • Expand eligibility under that program for nonprofit organizations, local newspapers and radio and TV broadcasters and allocate $15 billion for performance venues, independent movie theaters and other cultural institutions devastated by the restrictions imposed to stop the spread of the virus.

  • Provide $82 billion for colleges and schools, $13 billion in increased nutrition assistance, $7 billion for broadband access and $25 billion in rental assistance.

  • Extend an eviction moratorium set to expire at the end of the year.

  • Ban surprise medical bills that come when patients unexpectedly receive care from an out-of-network health provider. Instead of sending those charges to patients, hospitals and doctors will now need to work with health insurers to settle the bills.

Alan Bergman, left, is now chairman of the movie division, while Alan Horn will be chief creative officer.Credit…Alberto E. Rodriguez/Getty Images

Disney on Monday cleared up a lingering question at its movie division: Alan Bergman, 54, was named chairman, succeeding Alan F. Horn, 77, a venerable figure in Hollywood who has led Walt Disney Studios since 2012. Mr. Horn will continue to serve as chief creative officer.

“It has been an honor to lead the Walt Disney Studios over the past eight-plus years,” Mr. Horn said in a statement. “The time feels right to shift my focus solely to our enormous creative slate.” This month, Disney said the movie division would dramatically increase its output to supply Disney+, the company’s year-old streaming service, which has soared in popularity during the coronavirus pandemic.

Mr. Bergman joined Walt Disney Studios in 1996 and rose through the business affairs ranks, overseeing finance, technology, legal affairs and human resources. Most recently he served as co-chairman of the division, which includes Pixar, 20th Century Studios, Marvel, Lucasfilm, Blue Sky Studios, Searchlight Pictures, Walt Disney Animation, Disney live-action movies and Disney’s live stage shows. The heads of those units will report jointly to Mr. Bergman and Mr. Horn, Disney said. Mr. Bergman and Mr. Horn will report to Bob Chapek, Disney’s chief executive.

“With this new structure, we are ensuring a vital continuity of leadership,” Mr. Chapek said in a statement.

A spokesman declined to say how long Mr. Horn would serve in his role. The structure is reminiscent of how Disney recently handled succession at its highest level, announcing in February that Robert A. Iger would step down as chief executive to become executive chairman and focus on the company’s creative endeavors. Mr. Iger said he would exit entirely in late 2021, when his contract expires.

Under Mr. Horn’s leadership, Disney became Hollywood’s dominant movie company, by far. Last year, Disney controlled roughly 40 percent of the domestic box office, and six of its releases took in more than $1 billion worldwide. Mr. Horn was formerly the top film executive at Warner Bros., where he oversaw the eight-film “Harry Potter” series and Christopher Nolan’s “Dark Knight” trilogy. Before that, he co-founded Castle Rock Entertainment, where movies included “When Harry Met Sally” and “A Few Good Men.”

Catch up

  • European regulators gave the green light to a merger of Fiat Chrysler Automobiles and PSA, the maker of Peugeot, Citroën and Opel cars, paving the way for shareholders of the two companies to vote on the deal at a special meeting on Jan. 4. The European Commission said the transaction can go ahead, but with conditions. To preserve competition in the market for commercial vehicles, PSA must continue to allow Toyota to build vans and light trucks at its factories in Europe, and PSA and FCA must share specialized tools so that outside firms can do repairs.

  • The Federal Reserve said on Friday that the financial system’s biggest banks had the wherewithal to withstand a severe economic shock from the pandemic, and that they would be able to return more money to shareholders early next year as long as they showed that they were profitable. In June, the Fed put temporary caps on shareholder payouts by the nation’s biggest banks. Minutes after the regulator’s announcement on Friday, JPMorgan Chase said it would buy back $30 billion of its shares during the first three months of 2021.

  • In a novel case, federal prosecutors on Friday brought criminal charges against an executive at Zoom, the videoconferencing company, accusing him of engaging in a conspiracy to disrupt and censor video meetings commemorating the Tiananmen Square massacre. He is accused of working with others to log into the video meetings under aliases using profile pictures that related to terrorism or child pornography. Afterward, Mr. Jin would report the meetings for violating terms of service, prosecutors said.

Categories
Politics

Pence Will Be Vaccinated on Dwell TV, Including to Administration’s Combined Virus Message

WASHINGTON — At 8 a.m. on Friday, Vice President Mike Pence will roll up his sleeve to receive the coronavirus vaccine, a televised symbol of reassurance for vaccine skeptics worried about its dangers. President-elect Joseph R. Biden Jr. is scheduled to receive his injection on camera next week.

Notably absent from any planned public proceedings is President Trump, who has said relatively little about the vaccine that may be seen as a singular achievement and has made it clear that he is not scheduled to take it himself.

The vaccine may provide a ray of hope at a time when the surging coronavirus is regularly killing around 3,000 Americans a day. But the message on the virus from the Trump administration’s highest officials remains muddled and often contradictory as they continue to toggle between facing reality and trying to dictate an alternate one.

Mr. Pence, who will receive his first vaccine shot and encourage Americans to follow suit almost six months to the day after he published an op-ed in The Wall Street Journal titled “There Isn’t a Coronavirus ‘Second Wave,’” hosted a holiday party at his residence this week where guests mingled in an outdoor tent and posed for pictures without masks, according to attendees.

Secretary of State Mike Pompeo was forced into quarantine after being exposed to someone who had tested positive for the coronavirus after hosting a string of large, indoor holiday parties at the State Department and attending a private party Saturday to watch the annual Army-Navy football game. Only one unofficial adviser in the president’s circle has performed a public mea culpa for his earlier disregard of public health guidelines: Chris Christie, the former New Jersey governor, who on Wednesday released a television ad urging Americans who do not wear a mask to learn from his own harrowing medical experience and wear one.

The president, who recovered from his own bout with the virus after being treated with experimental drugs at Walter Reed National Military Medical Center, is described by aides and allies as preoccupied with the election results he still refuses to accept, and has shown no interest in participating in any kind of public health message.

Even in private conversations, they said, Mr. Trump rarely even brings up the vaccine that the White House press secretary, Kayleigh McEnany, described this week as a “medical miracle” that the president, “as the innovator,” deserved credit for.

Instead, Mr. Trump has been focused on his efforts to overturn the election results and consumed by his anger at Senator Mitch McConnell, the majority leader, who this week finally congratulated Mr. Biden on his victory and said that “the Electoral College has spoken.” And he remains frustrated that the vaccine was not available before Election Day, people who have spoken to him said.

But the president is also aware that a large part of his political base is made up of supporters who refuse to wear masks and so-called anti-vaxxers suspicious of the Covid-19 vaccine. After months of positioning himself in opposition to public health experts, people familiar with his thinking said, Mr. Trump feels on some level as if he does not want to be seen as caving in the end to the advice of the same people he has disparaged.

Some supporters with large online followings have even criticized him in recent days for promoting the vaccine at all. “You know, Trump, probably 80 percent of your base does not want that vaccine,” DeAnna Lorraine, a QAnon conspiracy theorist with a large following on Infowars, said on her program last week. “I don’t care who takes it. I don’t care if Jesus takes it. I’m not taking the vaccine.”

As Mr. Trump hesitates, lawmakers and Supreme Court justices are expected to begin receiving vaccines in the coming days, though the doses will be limited. Dr. Brian P. Monahan, the Capitol physician, wrote to lawmakers on Thursday that he had been notified by the National Security Council that his office would receive a “specific number” of doses to “provide for continuity-of-government operations.” He told lawmakers they could begin scheduling appointments to be vaccinated and suggested eventually some “continuity-essential staff members” could also receive doses.

“My recommendation to you is absolutely unequivocal: There is no reason why you should defer receiving this vaccine,” Dr. Monahan wrote. “The benefit far exceeds any small risk.”

Covid-19 Vaccines ›

Answers to Your Vaccine Questions

With distribution of a coronavirus vaccine beginning in the U.S., here are answers to some questions you may be wondering about:

    • If I live in the U.S., when can I get the vaccine? While the exact order of vaccine recipients may vary by state, most will likely put medical workers and residents of long-term care facilities first. If you want to understand how this decision is getting made, this article will help.
    • When can I return to normal life after being vaccinated? Life will return to normal only when society as a whole gains enough protection against the coronavirus. Once countries authorize a vaccine, they’ll only be able to vaccinate a few percent of their citizens at most in the first couple months. The unvaccinated majority will still remain vulnerable to getting infected. A growing number of coronavirus vaccines are showing robust protection against becoming sick. But it’s also possible for people to spread the virus without even knowing they’re infected because they experience only mild symptoms or none at all. Scientists don’t yet know if the vaccines also block the transmission of the coronavirus. So for the time being, even vaccinated people will need to wear masks, avoid indoor crowds, and so on. Once enough people get vaccinated, it will become very difficult for the coronavirus to find vulnerable people to infect. Depending on how quickly we as a society achieve that goal, life might start approaching something like normal by the fall 2021.
    • If I’ve been vaccinated, do I still need to wear a mask? Yes, but not forever. Here’s why. The coronavirus vaccines are injected deep into the muscles and stimulate the immune system to produce antibodies. This appears to be enough protection to keep the vaccinated person from getting ill. But what’s not clear is whether it’s possible for the virus to bloom in the nose — and be sneezed or breathed out to infect others — even as antibodies elsewhere in the body have mobilized to prevent the vaccinated person from getting sick. The vaccine clinical trials were designed to determine whether vaccinated people are protected from illness — not to find out whether they could still spread the coronavirus. Based on studies of flu vaccine and even patients infected with Covid-19, researchers have reason to be hopeful that vaccinated people won’t spread the virus, but more research is needed. In the meantime, everyone — even vaccinated people — will need to think of themselves as possible silent spreaders and keep wearing a mask. Read more here.
    • Will it hurt? What are the side effects? The Pfizer and BioNTech vaccine is delivered as a shot in the arm, like other typical vaccines. The injection into your arm won’t feel different than any other vaccine, but the rate of short-lived side effects does appear higher than a flu shot. Tens of thousands of people have already received the vaccines, and none of them have reported any serious health problems. The side effects, which can resemble the symptoms of Covid-19, last about a day and appear more likely after the second dose. Early reports from vaccine trials suggest some people might need to take a day off from work because they feel lousy after receiving the second dose. In the Pfizer study, about half developed fatigue. Other side effects occurred in at least 25 to 33 percent of patients, sometimes more, including headaches, chills and muscle pain. While these experiences aren’t pleasant, they are a good sign that your own immune system is mounting a potent response to the vaccine that will provide long-lasting immunity.
    • Will mRNA vaccines change my genes? No. The vaccines from Moderna and Pfizer use a genetic molecule to prime the immune system. That molecule, known as mRNA, is eventually destroyed by the body. The mRNA is packaged in an oily bubble that can fuse to a cell, allowing the molecule to slip in. The cell uses the mRNA to make proteins from the coronavirus, which can stimulate the immune system. At any moment, each of our cells may contain hundreds of thousands of mRNA molecules, which they produce in order to make proteins of their own. Once those proteins are made, our cells then shred the mRNA with special enzymes. The mRNA molecules our cells make can only survive a matter of minutes. The mRNA in vaccines is engineered to withstand the cell’s enzymes a bit longer, so that the cells can make extra virus proteins and prompt a stronger immune response. But the mRNA can only last for a few days at most before they are destroyed.

Dr. Monahan began notifying lawmakers who were eligible for vaccines, and Mr. McConnell and Speaker Nancy Pelosi indicated they would be among the first vaccinated.

Public health officials said they were pleased that the vice president was going to be vaccinated in public, along with Surgeon General Jerome Adams, despite the president’s own lack of interest in sending a similar public health message.

“It’s the right thing to do,” said Dr. Vinay Gupta, an assistant professor of pulmonary and critical care medicine at the University of Washington. “The question is why don’t they do it together, six feet apart? It would be really powerful for the president, who has gotten exceptional treatment, to say that even in spite of getting the best care, it’s important that I get this vaccine.”

Mr. Trump’s decision, so far, to not get vaccinated, Dr. Gupta said, risked undermining any confidence that Mr. Pence might instill among skeptics who take their cues from the president alone.

“The fact that he is not getting it makes one wonder if he’s worried,” Dr. Gupta said. He also said the muddled messages from the administration — hailing the vaccine while hosting holiday parties — risked “giving false reassurances to the American people that the vaccine is here and vigilance is no longer required.”

White House officials have said Mr. Trump does not need to get vaccinated because he still has the protective effects of the monoclonal antibody cocktail that was used to treat him for the virus in October. But Dr. Gupta said that was a misinterpretation of the results and that there was “no scientific reason not to get vaccinated.”

The first lady, Melania Trump, who tested positive for the virus in October and credited her recovery to a regimen of “vitamins and healthy food,” also has no plans to receive the vaccine in public. A spokeswoman, Stephanie Grisham, declined to say whether Mrs. Trump would get vaccinated.

Mr. Trump said on Sunday that he would delay a plan for senior White House staff members to receive the coronavirus vaccine in the coming days, hours after The New York Times reported that the administration was planning to rapidly distribute the vaccine to its staff.

“I am not scheduled to take the vaccine,” Mr. Trump added, “but look forward to doing so at the appropriate time.”

But many White House officials are eager to receive the vaccine, even as the president has made it clear he wants them to wait.

Doctors from Walter Reed this week set up vaccine stations inside the Indian Treaty Room in the Eisenhower Executive Office Building. There, they began vaccinating staff considered critical to the functioning of government: That included Secret Service members, some medical staff and some other support staff who work near Mr. Trump.

But Mr. Trump made it clear he does not like the optics of West Wing aides receiving the vaccine, and the White House declined to detail who exactly was receiving it. The number of doses they had received, an official said, was classified.

“His priority is frontline workers, those in long-term care facilities, and he wants to make sure that the vulnerable get access first,” Ms. McEnany said this week. When it came to staff working in the West Wing, she added, “it will be a very limited group of people who have access to it, initially.”

Mr. Pence declined to get the vaccine on the first day it was available to him, despite pressure from aides who wanted him to do so quickly, publicly — and before Mr. Biden held his own public event. Mr. Pence, people familiar with his thinking said, was concerned about the optics of jumping the line, when he wanted the administration to receive credit for the distribution of an effective vaccine to frontline medical workers without any distractions.

Instead, Mr. Pence chose to delay his own vaccination until Friday, when his office has asked all of the television networks to carry him live.

Lara Jakes and Nicholas Fandos contributed reporting.

Categories
Business

Unemployment Claims Present Toll of Rising Covid Instances: Reside Updates

Here’s what you need to know:

Credit…Maddie McGarvey for The New York Times

Rising Covid-19 cases are taking a steep toll on economic activity, battering the labor market even as new vaccines offer a ray of hope for next year.

The number of Americans filing initial claims for unemployment insurance remained high last week, the Labor Department reported Thursday. After dropping earlier in the fall, claims have moved higher, and they remain at levels that dwarf the pace of past recessions.

There were 935,000 new claims for state benefits, compared with 956,000 the previous week, while 455,000 filed for Pandemic Unemployment Assistance, a federally funded program for part-time workers, the self-employed and others ordinarily ineligible for jobless benefits.

On a seasonally adjusted basis, the number of new state claims was 885,000, an increase of 23,000 from the previous week.

Consumer caution, coupled with new restrictions on business activity like indoor dining, has pummeled the hospitality industry, lodging, airlines and other service businesses. The debut of a coronavirus vaccine this week offers the prospect of relief, but until mass inoculations begin next year, the economy will remain under pressure.

“Businesses are closing, and as a result, we are seeing job losses mount — and that’s exactly what we were fearful of going into the winter,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics. “It’s going to be a challenging few months, no doubt.”

At the end of November, more than 20 million workers were collecting unemployment benefits under state or federal programs, Labor Department data indicates.

With the weakening economy as the backdrop, Republican and Democratic leaders in Congress continued talks on Wednesday on another pandemic relief bill, something that economists have warned is overdue. Without action, two key programs for unemployed workers will expire this month, cutting off benefits to millions.

“We are not moving in the right direction,” said Gregory Daco, chief U.S. economist at Oxford Economics. “With the looming expiration of benefits, it’s even more worrisome.”

Data released on Wednesday showed a 1.1 percent drop in retail sales in November, a disappointing start to the crucial holiday season. Gus Faucher, chief economist at PNC Financial Services, expects economic growth to be weak for the next few months before picking up later in 2021.

“Until we get a lot of people vaccinated, the economy will face a difficult test,” he said. “I don’t know if we will see an outright contraction or the loss of jobs, but the pace of improvement will slow markedly.”

Christian Smalls leads a workers strike at the Amazon fulfillment center on Staten Island in May.Credit…Gabriela Bhaskar for The New York Times

The National Labor Relations Board said on Thursday that it had found merit in a complaint that Amazon wrongfully fired a warehouse worker in retaliation for organizing colleagues concerned about pandemic safety conditions.

Kevin Petroccione, a congressional liaison for the National Labor Relations Board, said if Amazon did not settle, the board would file a formal complaint against the company.

Amazon did not respond to a request for comment. The finding was earlier reported by Vice.

The charge of unfair labor practices was brought by Gerald Bryson, who worked at Amazon’s warehouse in Staten Island, N.Y. Mr. Bryson had joined with other workers, including one named Christian Smalls, in a protest over safety concerns in late March after the pandemic struck. Amazon immediately fired Mr. Smalls. About a week later, Mr. Bryson protested again in the parking lot of the building.

Amazon fired Mr. Bryson about two weeks later, saying he had violated the company’s vulgar language policy during a confrontation with another worker in the second protest, according to Frank Kearl, Mr. Bryson’s lawyer.

In June, Mr. Bryson filed a case with the National Labor Relations Board, effectively saying that Amazon selectively enforced its vulgar language policy as an excuse to retaliate against Mr. Bryson for his organizing. Mr. Kearl said the agency told him of the finding late last month.

If Amazon does not reach a settlement, which could include back pay or reinstating Mr. Bryson’s job, the agency plans to file a complaint to be heard by an administrative law judge. It filed a similar retaliation complaint against Amazon in a case of a worker in Pennsylvania who protested conditions during the pandemic. That case is pending.

Do you work in an Amazon warehouse and have a labor issue? We want to hear from you. Contact the reporter of this article at karen.weise@nytimes.com.

Nearly a year after the coronavirus outbreak, the full impact of the pandemic on the U.S. economy remains unclear. Some of the most obvious indicators are in conflict: As some companies report enormous profits, the number of unemployed Americans is nearly 10 million more than it was in February, and hundreds of thousands are expected to have filed new unemployment claims last week.

The Times interviewed a rage of economists and experts who suggested looking at eight measures to understand the state of the economy that President-elect Joseph R. Biden Jr. will face on Jan. 20.

  • Wages: That wages and salaries have bounced back quickly is a sign that things are on track for a rapid recovery. During the last recession — which Mr. Biden and then-President Barack Obama inherited in 2009 — drops of wages and salaries took years to recover.

  • Unemployment for Black men: The current crisis has had a particularly negative, persistent impact on employment for Black men, who face an unemployment rate of 11.3 percent, five percentage points higher than the unemployment rate for white men.

  • Long-term unemployment: The number of Americans who are still in the labor force but have been unemployed for more than six months has been increasing since April. A sociologist with a left-leaning think tank said the rise in long-term unemployment, coupled with the fact that millions of workers have left the labor market altogether since February, indicated “a very serious problem in connecting people who are able to produce needed goods and services with the opportunity to do so.”

  • Housing costs: Home prices and rents have risen during the pandemic. But while the rising costs have strained low-income renters, the rise in housing prices typically signals strong economic growth.

  • New businesses: Even as countless businesses have been forced to close over the course of the pandemic, the increase in business applications over the last year is a sign that the economy may be adapting rather than totally seizing.

  • Spending on goods: Though the pandemic has altered Americans’ day-to-day lives, it hasn’t halted their spending as much as some feared it would. Consumption has shifted toward goods over services — buying alcohol from stores instead of from bars, for example — bucking a generational trend toward a service economy.

  • Food scarcity — More families across the country are unable to meet their basic needs for housing and food security, according to a Census Bureau survey.

Speaker Nancy Pelosi in the Capitol. After months of stalemate, congressional leaders were on the verge of cementing a stimulus deal.Credit…Anna Moneymaker for The New York Times

Top Democrats and Republicans in Congress haggled on Thursday over the remaining hurdles to an emerging $900 billion stimulus deal, with Democrats making a last-ditch effort to use the package to deliver more emergency aid to states struggling amid the pandemic.

With Congress running out of time to deliver another round of relief to Americans and stave off a government shutdown on Friday, Speaker Nancy Pelosi reported more momentum toward a compromise that could be ready as early as today.

“We made some progress this morning,” Ms. Pelosi, of California, told reporters at the Capitol. Asked if a final agreement would be announced within the day, she said: “We’ll let you know.”

The plan under discussion would provide a dose of badly needed relief after months of stalled negotiations and amid a national public health crisis that has killed more than 307,000 people.

That includes a new round of stimulus payments, probably $600, to American adults; a temporary infusion of enhanced federal jobless aid of around $300 per week; and rental and food assistance. It would also revive a loan program for struggling small businesses and provide funding for schools, hospitals and the distribution of the vaccine.

With plans to merge a final agreement with a sweeping omnibus government funding package, Congress may have to approve another stopgap spending measure to avert a government shutdown on Friday while negotiators put the finishing touches on the stimulus deal. Senator Mitch McConnell, Republican of Kentucky and the majority leader, warned Republicans on Wednesday that they should prepare to remain in Washington through the weekend.

“I hope it wouldn’t be more than 24 or 48 hours,” Senator John Thune of South Dakota, the No. 2 Republican, said of a possible stopgap bill, adding, “I really think this is coming to a close.”

Ms. Pelosi, Senator Chuck Schumer of New York, the minority leader, and Steven Mnuchin, the Treasury secretary, spoke late Wednesday evening to continue ironing out differences over the measure, a spokesman for Ms. Pelosi said, and they planned to continue talks on Thursday.

In order to reach an agreement, Republicans appear to have dropped their demand for a sweeping coronavirus liability shield for businesses in exchange for Democrats agreeing to exclude a direct funding stream for state and local governments that are facing fiscal crises, according to two officials familiar with the discussions.

But Democrats were pushing to provide billions of dollars for governors to use for health-related expenses during the pandemic — including vaccine distribution — and extend emergency federal assistance for states and local governments through the Federal Emergency Management Agency. Republicans who have fiercely opposed sending more aid to states and cities were resisting the moves, concerned about leaving FEMA with enough money for future natural disasters and about the lack of restrictions on how the funds are spent.

Some Republicans — in particular Senator Patrick J. Toomey, Republican of Pennsylvania — were pushing to curtail the Federal Reserve’s emergency lending authority, which Democrats argue would hamper the Biden administration’s ability to continue supporting the country’s economic recovery. After the Federal Reserve used such authority earlier this year after the enactment of the $2.2 trillion stimulus law, Mr. Mnuchin clawed back the remaining funds in part to offset the cost of another stimulus bill.

There is also a push to include billions of dollars in relief for theaters and venues, something that lawmakers in both parties support.

Zach Montague contributed reporting.

By: Ella Koeze·Source: Refinitiv

  • A generally upbeat mood prevailed in global stock markets on Thursday, as lawmakers from both parties in Washington signaled they were close to reaching a deal on an economic aid package, an extraordinary shift in tone from both Republicans and Democrats, and more people received a coronavirus vaccine.

  • Investors are also looking toward an economic recovery sometime next year with one coronavirus vaccine already approved in several countries, and a second close to receiving emergency approval.

  • Still, the pandemic is far from over and continuing to take a staggering human and economic toll. Claims for state unemployment insurance illustrated this on Thursday, with 935,000 filing new claims last week, the Labor Department said.

  • The market gains on Thursday were relatively small: the S&P 500 rose about half a percent in early trading. The Stoxx Europe 600 gained 0.5 percent, while the FTSE in Britain was flat. Most Asian indexes closed the day with gains.

  • In Washington, talks continued on a $900 billion stimulus plan that would provide a new round of direct payments to millions of Americans as well as additional unemployment benefits, food assistance and rental aid. Republicans and Democrats alike signaled that they were ready to coalesce around the main elements, though a final agreement hasn’t been reached.

  • The Federal Reserve chair, Jerome H. Powell, on Wednesday made a point of saying the central bank was in no mood to begin scaling back its efforts to bolster the economy. He said the Fed’s policy decisions were intended to show that policymakers would “deliver powerful support to the economy until the recovery is complete.” He said the economy would face near-term challenges, but would likely bounce back quickly once vaccines were widely available, perhaps by midyear.

Baiju Bhatt and Vladimir Tenev, Robinhood’s co-founders, in 2018. Millions of investors have turned to the app in recent years.Credit…Reuters

The Securities and Exchange Commission on Thursday said that Robinhood, the stock trading app, had misled its customers about how it was paid by Wall Street firms for passing along customer trades, the latest enforcement action against the popular platform.

Robinhood agreed to pay a $65 million fine to settle the charges, the latest blow to the company whose popularity has surged since its founding, offering commission-free trading and an easy-to-use app. Critics have said that the company relied on practices that hurt its rapidly growing base of customers, who tend to be younger and less experienced.

The charges announced on Thursday apply to Robinhood’s disclosures from 2015 to late 2018, the regulator said.

The S.E.C. had charged Robinhood with “repeated misstatements that failed to disclose the firm’s receipt of payments from trading firms for routing customer orders to them, and with failing to satisfy its duty to seek the best reasonably available terms to execute customer orders,” it said in a statement.

“Robinhood provided misleading information to customers about the true costs of choosing to trade with the firm,” Stephanie Avakian, director of the S.E.C.’s enforcement division, said in a statement. “Brokerage firms cannot mislead customers about order execution quality.”

As part of the settlement, Robinhood did not admit or deny the allegations. But Dan Gallagher, its chief legal officer, said that the company was committed to helping meet its customers’ needs. “The settlement relates to historical practices that do not reflect Robinhood today,” he said in a statement.

Millions of investors have turned to Robinhood in recent years, lured by the simple fact that the site allows investors to trade without paying commissions. Much of the retail brokerage industry has since followed suit, resulting in a surge of retail trading activity this year.

Because they do not charge commissions, brokerage firms like Robinhood make money by charging high-speed trading firms for the right to execute their clients’ orders, a practice called payment for order flow. The trading firms are willing to pay Robinhood because they can eke out incremental gains on individual trades, which because of their speed and scale add up to large amounts of money.

But that also means that the high-speed trading firms determine the price one of Robinhood’s clients would pay for shares, or what they might receive for selling stock.

The S.E.C. said that for several years, the company had failed to be transparent with customers about its use of payment for order flow. It also said that the brokerage firm had violated a duty to get customers the best possible prices for their orders, tying that failure to the high payment rates it received from trading firms in exchange for customers’ trades.

In its order summarizing the settlement, the S.E.C. said that although the company was publicly declaring that its customers were getting trading terms as good as or better than what rivals offered, internal reviews showed that was far from the case.

The federal charges come a day after regulators in Massachusetts accused Robinhood of aggressively courting and manipulating inexperienced investors and then failing to protect them. In a complaint, the Massachusetts secretary of the commonwealth, William F. Galvin, said that Robinhood focused on signing up young traders with perks like free shares, and then used “gamification” marketing techniques to persuade them to trade often.

Matt Phillips and Gregory Schmidt contributed reporting.

Google received a kernel of good news on Thursday when European Union authorities approved its acquisition of the fitness-tracking company Fitbit after a lengthy review to determine whether the $2.1 billion takeover violated antitrust laws.

European regulators had been under pressure to block the deal, first announced last year, but allowed it to move forward after Google agreed not use the health and fitness data collected from Fitbit’s wearable devices and services to target ads at internet users. Google also agreed to continue providing its free Android software to competing makers of fitness and health devices.

The announcement comes as Google faces two antitrust lawsuits in the United States. On Wednesday, 10 state attorneys general accused the Silicon Valley giant of abusing its power in digital advertising. In October, the Justice Department accused the company of using illegal tactics to maintain dominance for its search engine.

The European Commission, the E.U.’s executive body, has brought three antitrust cases against Google in recent years. The company is appealing the fines.

The central bank left its benchmark interest rate at 0.1 percent and did not increase its purchases of government bonds. Credit…Andrew Testa for The New York Times

The Bank of England, which has been battling not only a pandemic but the threat of a disruptive exit from the European Union, made no changes to its monetary policy Thursday amid signs that both threats could be receding.

The central bank left its benchmark interest rate at 0.1 percent and did not increase its purchases of government bonds. In November, at its last meeting, the bank’s Monetary Policy Committee expanded the bond purchases, a way of holding down market interest rates, by £150 billion. The bank said Thursday it would continue to aim for total asset purchases of £895 billion, or $1.2 trillion.

The bank also extended by six months a program that allows commercial banks to borrow money at or close to the benchmark interest rate, if they funnel the money to small and midsize businesses.

Successful development of vaccines against the coronavirus are “likely to reduce the downside risks to the economic outlook from Covid,” the Monetary Policy Committee said in a statement. But the committee also said growth would be “a little weaker” than policymakers expected in November because of sharper lockdowns.

Negotiators for Britain and the European Union continued to meet in Brussels on Thursday, and there were indications they had narrowed their differences, potentially averting a no-deal Brexit that would be bad for both economies, but especially Britain’s.

In one example of the potential damage, the German automaker BMW warned that it would have to significantly raise prices for cars sold in Britain if there were no deal. Nicolas Peter, the company’s chief financial officer, told German media on Wednesday that BMW would also have to raise the price of British-made Minis sold in Europe because of import and export tariffs.

  • Unilever, a major advertiser, said it would resume spending in January on U.S. ads on Facebook, Instagram and Twitter but would continue to monitor the social media platforms for hate speech, misinformation and postelection “polarization.” The company stepped away in June but said on Thursday that it was “encouraged by the platforms’ new commitments and reporting to monitor progress.”

  • Ten state attorneys general on Wednesday accused Google of illegally abusing its monopoly over the technology that delivers ads online. The state prosecutors said that Google overcharged publishers for the ads it showed across the web and edged out rivals who tried to challenge the company’s dominance. They also said that Google had reached an agreement with Facebook to limit the social network’s own efforts to compete with Google for ad dollars. Google said the suit was “baseless” and that it would fight the case.

  • Tyson Foods has fired seven workers accused of being involved in a betting pool over how many employees would get the coronavirus, the company said Wednesday. The son of a meatpacking worker who died in April filed a suit claiming that the manager of the Waterloo, Iowa, pork plant organized a “cash buy-in, winner take all” betting pool. In all, about 1,000 workers at the plant — about a third of the work force — tested positive for the virus. Tyson had hired the law firm Covington & Burling to conduct an independent investigation of the matter, led by Eric H. Holder Jr., the former U.S. attorney general.

The Pandemic’s Toll

Credit…Audra Melton for The New York TimesCredit…Audra Melton for The New York Times

There remains widespread confusion about a key element of the plan to protect some of the most vulnerable Americans against the coronavirus, report Rebecca Robbins and Jessica Silver-Greenberg for The New York Times: how nursing homes will get consent to vaccinate residents who aren’t able to make their own medical decisions.

Some states are starting vaccinations in their nursing homes this week, but a broader nationwide effort will start in earnest on Monday as CVS and Walgreens employees begin to arrive at tens of thousands of nursing homes and assisted-living facilities to vaccinate staff and residents.

A CVS executive said such residents’ legal representatives will be able to provide consent to nursing homes electronically or over the phone, but officials at multiple large nursing home chains said they were not aware of that.

If residents or their representatives have not given consent before CVS or Walgreens employees show up, it is not clear whether or when they will have another chance to be inoculated.

There is no federal requirement for people to give consent before getting vaccinated, but it is standard practice and is often needed for billing purposes. States have different requirements about how medical consent can be given and what information needs to be provided to the person who is consenting. Guidance from the Centers for Disease Control and Prevention is that residents or their representatives should receive a fact sheet about the coronavirus vaccine and then consent to receiving it.

Executives from CVS and Walgreens said in interviews that they had been planning the vaccination campaign for months and were confident it would work. “If there are concerns or challenges, we certainly are open to work with facilities to try to minimize any disruption that they may have,” said Rick Gates, a Walgreens executive leading the company’s planning.

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Financial Stimulus Deal Takes Form in Congress: Stay Market Updates

Here’s what you need to know:

Credit…Anna Moneymaker for The New York Times

Congressional leaders on Wednesday closed in on an agreement on a coronavirus relief measure that could infuse the economy with as much as $900 billion, as they raced to complete both a pandemic aid package and a catchall federal spending measure before government funding lapses on Friday.

The top two Republicans and Democrats on Capitol Hill appeared to be coalescing around a plan that would include both another round of direct stimulus payments to Americans and additional unemployment benefits, according to people familiar with the emerging compromise who described it on condition of anonymity.

While the details were not yet final, the plan was also expected to provide billions of dollars for vaccine distribution, schools and small businesses, but omit coronavirus liability protections long sought by Republicans and a dedicated funding stream for state and local governments insisted upon by Democrats — the two most contentious sticking points.

The contours of the deal, reported earlier by Politico, became clear after a flurry of late-night negotiations among the four leaders and their staff on Capitol Hill. With Steven Mnuchin, the Treasury secretary, joining by phone, the four met twice on Tuesday in Speaker Nancy Pelosi’s office suite in the Capitol to work out the details.

“We committed to continuing these urgent discussions until there’s an agreement,” Senator Mitch McConnell, Republican of Kentucky and the majority leader, said Wednesday morning in a speech on the Senate floor.

It was unclear how large the direct payments would be, though the $2.2 trillion stimulus law enacted in March provided $1,200 per adult, and progressives and some conservative Republicans have recently called for the same amount or more to be included in the new round of aid.

Negotiators were also still haggling over an expansion and extension of unemployment benefits and how long they would last. They were also discussing reinstituting supplemental jobless payments — which were at $600 per week when they lapsed over the summer, but would likely be revived at a smaller amount. Although Democrats appeared to have dropped their demand for a major new infusion of aid for state and local governments, some officials familiar with the discussions said privately that there were other avenues to provide some of those funds in the final package.

An agreement on both the relief measure and must-pass legislation including the dozen spending bills needed to keep the government funded beyond Friday could emerge later on Wednesday.

Shoppers at Gateway Mall in Lincoln, Neb., on Black Friday. Retail sales fell 1.1 percent in November, the Commerce Department reported.Credit…Walker Pickering for The New York Times

For the first time since spring, U.S. retail sales have declined, raising questions about the strength of consumer spending and how retailers are faring in the all-important holiday shopping season.

Retail sales fell 1.1 percent in November as spending on categories like automobiles, electronic stores, clothing and restaurants and bars softened, according to a report from the Commerce Department on Wednesday.

Economists had expected a smaller decline amid robust holiday sales, driven by online spending. But the Commerce Department also revised its tally for October to a 0.1 percent decline, from an increase of 0.3 percent reported earlier.

The U.S. economy has slowed in recent months amid a surge in coronavirus cases and a steady increase in the ranks of the unemployed. Even as businesses have come under fresh pressure, lawmakers have yet to reach an agreement on a new stimulus package.

The uncertainty around holiday spending has been exacerbated as retailers pushed annual sales events into October, in a bid to jump-start the season and prevent crowded stores and shipping delays in November. Many major chains reported sales gains in October, but they were not certain about how it would affect spending in November and December.

Black Friday, which has traditionally signaled the start of the holiday shopping season, was also largely a bust for many retailers amid the rise in cases. Some companies reported that in-person traffic that day declined by as much as 50 percent from last year, as shoppers concerned about the virus stayed away from the stores.

With the new concerns around shopping in person, retailers have been racing to accommodate a surge in shipping demand, grappling with new surcharges and delays with major carriers including UPS and FedEx.

By: Ella Koeze·Source: Refinitiv

  • A surprisingly dour report on retail sales took some of the enthusiasm out of the stock markets on Wednesday.

  • Shares in Europe and the United States had been heading for a second day of solid gains before the Commerce Department said that retail sales fell 1.1 percent in November, a far sharper decline than economists had expected and fresh evidence of the resurgent coronavirus’s impact on the world’s largest economy.

  • Instead, the S&P 500 started the day with a small decline, and shares in Europe were also off their highs of the day. The Stoxx Europe 600 index and the FTSE 100 in Britain were both about half a percent higher.

  • Before the retail sales report, markets had been bolstered by signs of progress toward an economic stimulus package in Washington, and after the latest Purchasing Managers Index report offered a positive outlook on the European economy. The manufacturing index reached 56.6 points, up from 55.3 in November, and the composite output index hit 49.8 points, from 45.3 last month.

  • “The data hint at the economy close to stabilizing after having plunged back into a severe decline in November amid renewed Covid-19 lockdown measures,” said Chris Williamson, the chief business economist at IHS Markit, which compiles the reports.

  • Further insight on the state of the U.S. economy will come later on Wednesday when the Federal Reserve chair, Jerome H. Powell, speaks to reporters after the end of the central bank’s final scheduled meeting of the year. The Fed has been offering reassurance that it will continue supporting the economy, but some policymakers are divided over how much needs to be done now.

  • U.S. lawmakers held talks late Tuesday seeking an agreement on a pandemic stimulus bill ahead of a Friday deadline. Senator Mitch McConnell, the majority leader, said afterward that “we’re making significant progress,” and Speaker Nancy Pelosi offered a similar appraisal. On the table is a package of funding to support unemployed workers and troubled businesses, as well as an omnibus spending bill to keep government money flowing.

The European Central Bank headquarters in Frankfurt, Germany. Banks can begin paying dividends again, the central bank said, but with strict limits.Credit…Daniel Roland/Agence France-Presse — Getty Images

The European Central Bank said Tuesday that it would allow banks to resume limited payouts to shareholders, an indication that regulators are slightly less worried that the pandemic will set off a financial meltdown.

Since March, the central bank has been pressuring commercial banks to stockpile cash to deal with possible losses stemming from the devastating impact on the eurozone economy caused by the pandemic.

Banks can begin paying dividends again after consulting with regulators, the European Central Bank said in a statement on Tuesday, but it set strict limits on how much they can pay out as a percentage of profit and capital. The limits will remain in effect until at least the end of September 2021.

Still, the end of the dividend moratorium, which was technically a recommendation, is a sign that the banking system and the eurozone economy are inching toward normalcy.

“In revising its recommendation, the E.C.B. acknowledges the reduced uncertainty in macroeconomic projections,” the central bank said. An analysis earlier this year “confirmed the resilience of the European banking sector,” it said.

The economic crisis has forced most banks to set aside large sums to cover losses from borrowers who lost their jobs and businesses that suffered severe declines in sales. But there have been no major bank failures as a result of the pandemic, in part because regulators have forced lenders to stockpile capital in recent years and take less risk.

The central bank said that lenders should discuss dividend payments with regulators beforehand, and it cautioned banks to exercise “extreme moderation” in bonuses and other payouts to executives.

The European Central Bank is responsible for supervising banks in the eurozone that are considered big enough or important enough to set off a financial crisis. The bank said Tuesday that national regulators should apply the same standards to the smaller banks under their purview.

Philadelphia is a case study in the simple-but-not-easy task of helping tenants with the rent. Like most places, it isn’t close to satisfying the need.Credit…Hannah Yoon for The New York Times

Almost from the moment the pandemic spread across the United States, advocacy groups have warned that the economic fallout could cause mass displacement of low-income tenants.

In response, more than 400 state and local governments have used money from the federal CARES Act to set up funds to cover at least $4.3 billion in rental assistance — money that has helped tenants pay their bills and landlords stay current on their mortgages, according to a database set up by the National Low Income Housing Coalition, a policy group.

But many jurisdictions are reporting trouble spending it, and with barely two weeks left in the year, they are on pace to have more than $300 million left over, according to the coalition’s database. In a pattern that predated the pandemic, the programs have been complicated by bureaucratic hurdles, competing budget demands and a reluctance among landlords to take part, reports Conor Dougherty for The New York Times.

Philadelphia is a case study in the simple-but-not-easy task of helping tenants with the rent. Social programs are often a partnership in which cities provide funding and lay out rules but delegate the execution to quasi-governmental nonprofit organizations like the one Gregory Heller works at.

Like most places, Philadelphia is not close to satisfying the need for help. But through rounds of rejiggering and three phases of funding — each with its own maze of rules and requirements — Mr. Heller’s group built a team to distribute aid, whittled down the processes that delayed it and concluded that the best way to help was the most straightforward: Give the money directly to renters.

“There’s a societal belief that poor people can’t spend money the right way, and I think it’s important to start questioning that assumption,” Mr. Heller said.

The companies drawing Wall Street’s attention are notable for how niche their products and services are.Credit…Hannah Yoon for The New York Times

Until recently, the temperature-controlled storage and shipping of pharmaceutical products, known as the “cold chain,” was a relatively sleepy corner of the health care industry.

But the virus, and the temperature-sensitive vaccines that are poised to combat it, have brought new attention to the cold-chain delivery systems in the United States and beyond, Kate Kelly reports for The New York Times. Wall Street, which likes nothing better than a hot trade with the potential for big profits, is rushing to grab a piece of the action.

The companies getting attention from Wall Street are notable for how niche their operations are. Many use an elaborate network of freezers and specialized trucks and aircraft to move temperature-sensitive materials — such as blood, stem cells and tissue — around the world without compromising their efficacy. It’s a delicate process, because a product can go from vital to useless within minutes of being removed from cold storage.

Potential investors are constantly calling Stirling Ultracold, whose freezer equipment is powering UPS’s “freezer farms” in Louisville, Ky., and the Netherlands, where vaccines will be stored. “There’s not a day that goes by” that an inquiry doesn’t come in,” said Dusty Tenney, Stirling’s chief executive, who is running his Athens, Ohio, production lines around the clock.

Demand for Stirling’s freezer engines — the core component of their upright, under-the-counter and portable freezers — has soared, and the estimated waiting time for new orders is six to eight weeks, the company said. On Dec. 8, after multiple prospective investors studied the company’s financial metrics in a due diligence process, Stirling received a capital injection of an undisclosed amount that it planned to use to buy new equipment and expand production.

In October, Blackstone, the private equity giant, invested $275 million in Cryoport, a Nashville company that specializes in shipping sensitive medical materials at freezing temperatures. Investors have also been bullish on Ember, the beverage-heating company that has developed a refrigerated medical shipping box with built-in GPS and already counts two Jonas Brothers and the Brooklyn Nets forward Kevin Durant as shareholders.

Credit…WhistlePig

Moët Hennessy, the premium spirits arm of French luxury giant LVMH Moet Hennessy Louis Vuitton, is taking a stake in WhistlePig, in a bet that it can make typically American rye whiskey a global hit, the DealBook newsletter reports.

It’s the second American whiskey brand that Moët Hennessy, has invested in after Washington’s Woodinville in 2017. Terms of the deal were not disclosed.

WhistlePig brews its Whiskey in Vermont oak, and its 15-year aged whiskey sells for more than $200 a bottle. The company was founded by Wilco Faessen, now a senior banker at Evercore, and Raj Bhakta, an entrepreneur and onetime “Apprentice” contestant.

Mr. Bhakta sold his shares in the company when Byron Trott’s investment firm, BDT Capital, took a minority stake last year. BDT will keep its stake following the deal, in which no investors cashed out. The deal with Moët Hennessy does not include a path to an outright sale, Mr. Faessen said.

Mr. Faessen said that formal talks about a partnership began in January, and the pandemic that did not alter the deal, besides lengthening the time it took to work through the details. Sales for both WhistlePig and Moët Hennessy came under pressure as bars and restaurants shut, but the companies also noticed a shift to premium liquor during lockdowns.

“It’s just easier to treat yourself when you’re stuck at home and sick of doing Zoom meetings,” said Jeff Kozak, WhistlePig’s chief executive, who noted that sales were up this year.

Rye whiskey is consumed mostly in the United States, but Moët Hennessy thinks it can entice drinkers elsewhere. Connoisseurs who want to “expand their repertoire in the category of high-end whiskies” have recently turned to Japanese brands, said Philippe Schaus, the Moët Hennessy chief executive, “and we don’t see why we will not succeed to bring them to high-end American whiskeys.”

  • Domino’s Pizza said this week that it would pay a bonus of up to $1,200 apiece to more than 11,500 hourly workers in December. The bonuses will total more than $9.6 million, the pizza chain said. Earlier this year, Domino’s paid a bonus to frontline workers at its corporate stores and supply chain centers. “We have the honor and privilege of being open and operating throughout the U.S. during this crisis, and we recognize that we could not be doing it without the hard work and dedication of our team members,” Ritch Allison, the company’s chief executive, said in a statement.

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Business

Stay Market Updates: Shares Rise as Brexit Talks Are Prolonged

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Credit…Brendan Mcdermid/Reuters

Exxon Mobil announced on Monday that it would reduce methane and other greenhouse gas emissions from its exploration and production operations over the next four years.

The company said it would reduce emissions by 15 to 20 percent by 2025 compared with 2016 levels.

More significantly, the company said it would eliminate “routine” flaring by 2030 in an effort to reduce the carbon dioxide emissions generated when companies burn unwanted natural gas that is released during oil production.

The company stopped well short of the kind of targets set by BP and other European oil companies that have pledged to reduce emissions by much more and have said they would gradually move away from oil and gas as they invest more in renewable energy.

“We respect and support society’s ambition to achieve net zero emissions by 2050, and continue to advocate for policies that promote cost-effective, market-based solutions to address the risks of climate change,” Exxon’s chief executive, Darren Woods, said in a statement.

Exxon said that “meaningful decreases” in emissions of greenhouse gasses “will require changes in society’s energy choices coupled with the development and deployment of affordable lower-emission technologies.”

Rory Gamble, the president of the United Automobile Workers union, which agreed on changes meant to root out corruption at the union.Credit…Rebecca Cook/Reuters

The Justice Department and the United Automobile Workers union have reached a tentative agreement on changes meant to root out corruption at the union without putting it under government control.

The United States attorney for the eastern district of Michigan, Matthew J. Schneider, and the president of the union, Rory Gamble, are scheduled to announce details of the agreement Monday afternoon.

Mr. Schneider has been investigating corruption at the U.A.W. for several years and has secured guilty pleas by more than a dozen people, including two former union presidents.

Gary Jones, who became U.A.W. president in 2018 and resigned while under investigation a year later, in June plead guilty to tax fraud and improperly using union funds. He was accused of using more than $1 million in union funds for luxury travel and personal purchases.

Dennis Williams, who served as president from 2014 to 2018, pleaded guilty in September to conspiring with other union officials to embezzle union funds. He and Mr. Jones are awaiting sentencing.

Others who have pleaded guilty include three former executives of Fiat Chrysler and a senior union official, Joe Ashton, who once held a seat on the board of General Motors. In November, Mr. Ashton was sentenced to 30 months in prison.

Rihanna at a show for the Savage x Fenty collection in 2018.Credit…Nina Westervelt for The New York Times

Savage x Fenty, the lingerie company that the pop singer Rihanna helped found, has hired Goldman Sachs to raise $100 million in financing, sources with direct knowledge of the deal told the DealBook newsletter.

The company wants the money for new initiatives that may include new lines like athletic wear and expanding in Europe.

The high-flying lingerie brand generates about $150 million in revenue, but is not yet profitable, said the sources, who spoke on the condition of anonymity because the information was confidential.

The valuation it is seeking in the funding round could not be determined, A representative for Goldman Sachs declined to comment, while Savage x Fenty did not respond to requests for comment.

Rihanna’s business ventures have challenged the traditional playbook of fashion and beauty brands, taking an inclusive approach in an industry for which exclusivity is the norm. Her Fenty Beauty line, which she produces with a subsidiary of LVMH, introduced with 40 shades of foundation for a wide range of skin tones. The makeup brand packed the shelves of LVMH-backed Sephora, and paved the way for a Rihanna fashion line with the French luxury empire.

Rihanna started Savage x Fenty in 2018, aiming it at a broad range of body types. It is partly owned by Techstyle Fashion Group, the venture-backed company behind the actress Kate Hudson’s athleisure line Fabletics. Rihanna frequently promotes the brand on Instagram, where she has 87.5 million followers. Earlier this year, Savage x Fenty was accused of deceptive marketing, which it denies.

Savage x Fenty’s launch came as Victoria’s Secret stumbled. The brand that once dominated the lingerie industry had begun to turn off its customers with garments that emphasized sex appeal over comfort. Last year, Victoria’s Secret canceled its fashion show amid dwindling viewership. In what seemed a direct shot at its rival, Savage x Fenty held a body-positive extravaganza at the Barclays Center last year, returning again this year with “a forceful display of inclusivity” that streamed on Amazon.

Britain’s most modern operating power plant, known as Sizewell B, near Sizewell, a fishing village about 100 miles northeast of London. Credit…Dylan Martinez/Reuters

The British government said on Monday that it would enter formal negotiations with EDF, the French utility, to build a new nuclear power station on the east coast of England.

The plant, known as Sizewell C, would have an estimated price tag is 20 billion pounds, or about $27 billion. Negotiations with EDF, which owns most of the British nuclear power system, would cover financing and other arrangements.

In moving ahead with talks, the government is acknowledging that although Britain is investing heavily in clean energy sources like offshore wind, there may also be a need to construct new nuclear power plants to provide stable sources of power to achieve its ambitious climate goals of achieving net zero emissions by 2050, which is likely to require electrifying large parts of the economy.

Nuclear attracts criticism as expensive compared to renewables and for the risk of accidents and long-term toxic waste problems, but it has the advantage of providing very large and steady amounts of low carbon power that would be available when the wind stops. The Sizewell C plant could supply power for six million homes.

Finding a workable financing solution will be crucial. The government said it would “explore a range of financing options” for the plant, including a proposal that might have consumers pay costs of the plant in advance of its operation through charges on their bills, as well as the use of public money to finance construction. A plan by Hitachi, the Japanese company, to build a nuclear installation in Wales collapsed in 2019, in part over financing issues.

The plant would be near Britain’s most modern operating power plant, known as Sizewell B, in the vicinity of Sizewell, a fishing village about 100 miles northeast of London. It is likely to draw protests from local environmentalists who worry that the plant will threaten important wildlife habitat.

The plant would be similar to another installation that EDF and a Chinese partner are building at Hinkley Point in southwest England. The hope is that experience gained at Hinkley Point will translate into lower costs for Sizewell.

Senator Angus King wrote to the heads of several streaming services on Monday, asking them to consider lifting subscription fees.Credit…Gabriella Demczuk for The New York Times

What if Netflix and the other major streaming services were available free during the holiday season? Wouldn’t that keep people home in the coming weeks, reducing the further spread of the coronavirus?

Senator Angus King, independent of Maine, made that proposal in a letter on Monday to the heads of Netflix, Amazon, Disney, WarnerMedia and Apple.

“Americans are faced with even further social isolation — and increased free time — during the holidays,” Mr. King wrote in the letter. “This is a risk; it could also be an opportunity for creative, socially responsible thinking.”

The streaming services did not immediately respond to requests for comment.

In the past week, there has been an average of more than 200,000 new coronavirus cases a day in the United States, up nearly 30 percent from the average two weeks ago. And while the first health workers may start receiving shots of a new vaccine on Monday, the country faces a devastating winter if people become less vigilant, health officials say.

In an interview, Mr. King said that many people had “pandemic fatigue,” and his proposal was intended to encourage a safe activity, especially for those who don’t have the means to subscribe to streaming services.

“It’s a way to basically lift people’s spirits a bit and mitigate the heartbreak of not being able to be with family and friends at an important holiday,” he said.

Peter Vlitas, a travel industry executive, used the CommonPass app on a United Airlines flight to Newark from London in October.Credit…The Commons Project Foundation

In the coming weeks, major airlines including United, JetBlue and Lufthansa plan to introduce a health passport app, called CommonPass, that aims to verify passengers’ coronavirus test results — and perhaps soon, vaccinations.

CommonPass notifies users of local travel rules — like having to provide proof of a negative virus test — and then aims to check that they have met them. The app will then issue confirmation codes, enabling passengers to board certain international flights, Natasha Singer reports in The New York Times.

“This is likely to be a new normal need that we’re going to have to deal with to control and contain this pandemic,” said Dr. Brad Perkins, the chief medical officer at the Commons Project Foundation, a nonprofit organization in Geneva that developed CommonPass.

Electronic vaccination credentials could have a profound effect on efforts to control the virus and restore the economy. They could prompt more employers and college campuses to reopen. And developers say they may also give some consumers peace of mind by creating an easy way for movie theaters, cruise ships and sports arenas to admit only those with documented virus vaccinations.

But the digital passes also raise the specter of a society split into health pass haves and have-nots, particularly if venues begin requiring the apps as entry tickets. The apps could make it difficult for people with limited access to vaccines or online verification tools to enter workplaces or visit popular destinations. Civil liberties experts also warn that the technology could create an invasive system of social control, akin to the heightened surveillance that China adopted during the pandemic — only instead of federal or state governments, private actors like employers and restaurants would determine who can and cannot access services.

In October, United tested CommonPass on a flight to Newark Liberty International Airport in New Jersey from Heathrow Airport in London. United and four other airlines plan to start using it soon on some international flights.

Internet users worldwide received a jarring reminder on Monday about just how reliant they were on Google, when the Silicon Valley giant suffered a major outage for about an hour, sending many of its most popular services offline.

At a time when more people than ever are working from home because of the pandemic, Google services including Calendar, Gmail, Hangouts, Maps, Meet and YouTube all crashed, halting productivity and sending angry users to Twitter to vent about the loss of services. Students struggled to sign into virtual classrooms.

As users scrambled to figure out what was going on, Google disclosed the outages on a status dashboard that shares information about its various services. Downdetector, a website for tracking internet outages, also showed that Google was offline. Google’s search engine continued to work for some people.

But about an hour after the outages began, the services started working again.

Google initially provided limited information about what occurred, and it was not immediately clear how many users were affected by the outage. Several of Google’s products have more than a billion global users, including Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search and YouTube.

Later, the company attributed the problem to an “authentication system outage” that lasted for approximately 45 minutes starting at 7:32 a.m. Eastern time.

“All services are now restored,” Google said in a statement. “We apologize to everyone affected, and we will conduct a thorough follow up review to ensure this problem cannot recur in the future.”

Today, at 3.47AM PT Google experienced an authentication system outage for approximately 45 minutes due to an internal storage quota issue. This was resolved at 4:32AM PT, and all services are now restored.

— Google Cloud (@googlecloud) December 14, 2020

Product outages were once fairly common for growing internet companies. But as Google, Facebook and others have become larger, building complex networks of interconnected data centers around the world, the incidents have become less common. Google has privately financed undersea cables to move data between continents and improve performance in the event problems occur in a certain location.

The reliability of the systems have become increasingly important as people and businesses depend on the services, whether to search for information online, find directions, send email or get access to private documents stored on Google’s servers. Some users reported their appliances not working because they were linked to Google’s line of home products.

During lockdowns, schools have leaned on Google services to teach students forced to stay home. “At least we have an excuse for not doing our homework,” one person wrote on Twitter.

The incident is likely to provide fodder for those who say the biggest technology companies have grown too powerful and deserve more oversight. In the United States, Google and Facebook are facing antitrust lawsuits. In the European Union, new regulations will be introduced on Tuesday to limit the industry’s power.

William Dixon, a cybersecurity expert at the World Economic Forum, said the outage highlighted the fragility of the world’s digital networks.

“What you have is an increasingly smaller number of technology providers that are systemically important,” said Mr. Dixon, who used to work on cybersecurity issues for the British government. “If there is one issue, then the cascades of that are quite significant.”

Michel Barnier, the European Union’s chief negotiator on Brexit, speaking to reporters Monday morning in Brussels. Talks with Britain on a trade deal are continuing. Credit…Francois Walschaerts/Reuters

  • Stocks rose on Monday, rebounding from last week’s slump as negotiators trying to secure a Brexit trade deal and U.S. fiscal stimulus package were given a little more time to reach an agreement.

  • The S&P 500 rose about 0.6 percent in early trading, while the Stoxx Europe 600 gained 0.8 percent and the FTSE 100 in Britain was flat. In Asia, the Nikkei 225 closed 0.3 percent higher and the Shanghai composite index rose 0.7 percent.

  • The British pound strengthened against other major currencies, rising 1.1 percent against the euro and 1.4 percent against the U.S. dollar after Britain and the European Union decided on Sunday to extend talks on a trade deal. Britain voted to leave the European Union in a referendum over four years ago and formally did so on Jan. 31, entering a transition period that will end in 17 days’ time.

  • Last week, the pound suffered its steepest drop in three months after signs that Britain would not reach an agreement with its largest trading partner before the end of the year, which would lead to higher tariffs as well as trade and economic disruption.

  • In the United States, Congress has given itself another week to come to an agreement on package of measures to provide some relief to unemployed Americans and hard-hit businesses. A bipartisan group of lawmakers who have been working for a month on a $908 billion proposal met through the weekend. They plan to introduce a final product on Monday.

As the European Union has become the global leader in tech regulation, Google and other American tech giants have increasingly focused on Brussels in hopes of choking off even stiffer rules before they spread.

In Europe, the tech companies are spending more than ever, hiring former government officials, well-connected law firms and consulting firms, Adam Satariano and Matina Stevis-Gridneff reported in The New York Times. They funded dozens of think tanks and trade associations, endowed academic positions at top universities across the continent and helped publish industry-friendly research by other firms.

American lawmakers and regulators, too, have become much more aggressive in curbing the power of the technology industry’s biggest companies. Last week, federal and state officials accused Facebook of illegally crushing competition. In October, the Justice Department accused Google of illegally protecting its monopoly over search.

In the first half of 2020, Google, Facebook, Amazon, Apple and Microsoft declared spending a combined 19 million euros, or about $23 million, equal to what they had declared for all of 2019 and up from €6.8 million in 2014, according to Transparency International, a group that monitors E.U. lobbying.

“The budgets are really unrivaled — we’ve never seen this kind of money being spent by companies directly,” said Margarida Silva, a researcher at Corporate Europe Observatory, a group that tracks lobbying in Brussels. The totals are probably much higher, she noted, because disclosure rules do not capture all the spending on law firms, academic partnerships and activities in individual countries.

The spending is less than in the United States, but the growing influence industry is alarming European Union officials who believe that Big Tech is contributing to a Washingtonization of Brussels, giving money and connections an upper hand over the public interest.

Janet Yellen, Mr. Biden’s pick for Treasury secretary, has long argued for emissions reduction as an economic imperative.Credit…Kriston Jae Bethel for The New York Times

WASHINGTON — Even as President-elect Joseph R. Biden Jr. confronts the immediate task of accelerating the pandemic recovery, he has placed the longer-running climate challenge at the center of his administration’s economic priorities.

The pandemic recovery, too, will have climate-minded undertones, The New York Times’s Jim Tankersley and Lisa Friedman report.

Three of Mr. Biden’s picks for top roles — Janet L. Yellen as Treasury secretary, Brian Deese for National Economic Council director, and Neera Tanden, the nominee to head the White House Office of Management and Budget — are preparing to weave efforts to reduce greenhouse gas emissions and accelerate clean energy production into the economic stimulus legislation that his team is planning. Climate change is also expected to play a heavy role in a broader infrastructure initiative that could be one of Mr. Biden’s best hopes for a major bipartisan bill in his first year in office.

The climate battle is also likely to influence his economic approach more broadly, with his team preparing to use the government’s vast regulatory powers to reduce emissions via wind and solar energy, electric cars and other initiatives — an approach that Mr. Biden’s team insists will create jobs.

Those close to Mr. Biden said he was purposefully putting what scientists believe is the world’s largest looming crisis at the heart of the agencies most responsible for promoting the country’s economic security.

“Historically we have looked at climate change as an environmental issue,” said Christy Goldfuss, a former head of the White House Council on Environmental Quality under President Barack Obama. What Mr. Biden has done, she said, “is center climate policy in his economic team.”

People lined to find assistance with their unemployment claims in Frankfort, Ky.Credit…Bryan Woolston/Reuters

The federal program that covers gig workers, part-time hires, seasonal workers and others who do not qualify for traditional unemployment benefits has kept millions of Americans afloat.

Established by Congress in March as part of the CARES Act, the program, known as Pandemic Unemployment Assistance, has provided over $70 billion in relief.

But in carrying out the hastily conceived program, states have overpaid hundreds of thousands of workers — often because of administrative errors. Now states are asking for that money back, Gillian Friedman reports in The New York Times.

The notices come out of the blue, with instructions to repay thousands or even tens of thousands of dollars. Those being billed, already living on the edge, are told that their benefits will be reduced to compensate for the errors — or that the state may even put a lien on their home, come after future wages or withhold tax refunds.

Many who collected payments are still out of a job, and may have little prospect of getting one. Most had no idea that they were being overpaid.

“When somebody gets a bill like this, it completely terrifies them,” said Michele Evermore, a senior policy analyst for the National Employment Law Project, a nonprofit workers’ rights group. Sometimes the letters themselves are in error — citing overpayments when benefits were correctly paid — but either way, she said, the stress “is going to cost people’s lives.”

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Business

British Pound Tumbles as Prospects Dim in Brexit Talks: Dwell Enterprise Updates

Folgendes müssen Sie wissen:

Anerkennung…Frank Augstein / Associated Press

Als sich Großbritannien einer weiteren neuen Frist nähert, um am Sonntag ein Handelsabkommen mit der Europäischen Union abzuschließen, schließt das Pfund seine schlechteste Woche seit drei Monaten ab. Gegenüber dem Euro ging es am Donnerstag deutlich tiefer und am Freitag weiter zurück, als die Händler mit der Aussicht zu kämpfen hatten, dass die britischen Handelsgespräche mit der Europäischen Union wirklich scheitern könnten.

„Die Märkte neigen dazu zu denken, solange sie reden, gibt es Hoffnung. Da war ich sehr vorsichtig “, sagte Jane Foley, Strategin bei der Rabobank. „Es gibt vielleicht keinen Deal, aber es wird Störungen geben, selbst wenn es einen Deal gibt. Und es wird politische Auseinandersetzungen geben. “

All das ist schlecht für die Währung.

In knapp drei Wochen endet die Brexit-Übergangsfrist, und wenn keine Einigung erzielt wird, wird Großbritannien gezwungen sein, Geschäfte mit seinem größten Handelspartner zu Bedingungen der Welthandelsorganisation zu tätigen, was bedeutet, dass Zölle auf Waren eingeführt werden und es weniger gibt Chance auf zukünftige Zusammenarbeit zwischen Dienstleistungsunternehmen. Bisher haben drei Themen – Fischereirechte, Wettbewerbsregeln für Unternehmen und die Durchsetzung eines Abkommens – die Gespräche zum Stillstand gebracht.

Premierminister Boris Johnson ging am Mittwochabend nach Brüssel, um zu speisen mit der Präsidentin der Europäischen Kommission, Ursula von der Leyen, um zu versuchen, die Sackgasse zu durchbrechen. Als das Fischdinner vorbei war, gab es Berichte, dass die Aussichten für einen Deal noch düsterer waren. Für Sonntag wurde eine neue Frist festgelegt.

Am Donnerstag legte die Europäische Kommission dann ihre Pläne vor, was sie tun würde, wenn es keine Einigung gäbe. Und Herr Johnson sagte, eine Vereinbarung sei “noch gar nicht da” und es bestehe die “starke Möglichkeit”, keine Einigung zu erzielen.

Der anhaltende Optimismus der Finanzmärkte wurde schon oft getestet. Unzählige Brexit-Fristen sind gekommen und gegangen. Diesmal besteht jedoch ernsthafte Besorgnis darüber, wie eine Einigung, falls eine Einigung erzielt wird, vor dem 1. Januar in das Gesetz ratifiziert werden könnte. Das britische Parlament bereitet Pläne für eine Arbeit bis Weihnachten vor, aber die Europäische Union wird es schwerer haben, 27 zu sammeln Nationen während der Ferienzeit.

Diese Woche war die schlimmste für das Pfund seit Anfang September, als Händler erschreckt wurden, dass Boris Johnson ein Handelsabkommen vereiteln würde, indem er ein neues Gesetz einführte, das mit dem EU-Rückzugsabkommen kollidierte und gegen internationales Recht verstieß.

Noch vor dem Ende der Übergangszeit erhielt Großbritannien einen Einblick in die Art der Störung, die auftritt, wenn der Handel nicht reibungslos läuft, als Honda diese Woche sein Montagewerk in England stilllegte, weil Teile während des Transports feststeckten.

Die wirtschaftlichen Auswirkungen weiterer Handelsstörungen im neuen Jahr nach Beginn der Zollkontrollen werden die britische Wirtschaft belasten Versuch, eine Erholung während einer zweiten Welle der Pandemie herauszukratzen. Daten vom Donnerstag zeigten, dass das Bruttoinlandsprodukt im Oktober um 0,4 Prozent stieg, eine Verlangsamung, bevor England im November eine monatelange Sperrung durchführte.

Die Berater von Mitch McConnell, dem Mehrheitsführer des Senats, sagten, ein parteiübergreifendes Pandemie-Hilfspaket habe bei vielen republikanischen Gesetzgebern keine Unterstützung gefunden. Anerkennung…Anna Moneymaker für die New York Times

  • Die Aktien fielen am Freitag weltweit und Futures deuteten darauf hin, dass der S & P 500-Index um 1 Prozent niedriger öffnen würde, da sich die Anleger von riskanten Vermögenswerten fernhielten, obwohl bekannt wurde, dass die USA den Pfizer-BioNTech-Impfstoff wahrscheinlich innerhalb weniger Tage genehmigen würden. Stattdessen stehen Händler vor der Aussicht auf einen Brexit ohne Deal und monatelange wirtschaftliche Schwierigkeiten, da die Länder immer noch Schwierigkeiten haben, das Virus einzudämmen.

  • Der Stoxx Europe 600 Index fiel um 1,3 Prozent. Der FTSE 100-Index in Großbritannien fiel um 1,1 Prozent, der CAC in Frankreich um 1,3 Prozent und der DAX in Deutschland um 2 Prozent. In Asien schloss der Shanghai Composite Index um 0,8 Prozent und der Nikkei 225 in Japan um 0,4 Prozent.

  • Der S & P 500 Index ist auf dem richtigen Weg, um zwei Wochen lang Gewinne zu erzielen. Als die Märkte am Donnerstag schlossen, war der US-Referenzindex diese Woche bisher um 0,8 Prozent gefallen.

  • Die Ölpreise fielen am Freitag ebenfalls und zogen sich von einer Rallye am Vortag zurück, als die Preise auf den höchsten Stand seit März stiegen. Die Futures von West Texas Intermediate, der US-Benchmark, gingen um 0,5 Prozent auf 46,57 USD pro Barrel zurück.

  • Stattdessen kauften Händler traditionell sichere Vermögenswerte wie Staatsanleihen. Die Rendite 10-jähriger US-Staatsanleihen fiel diese Woche um 8 Basispunkte oder 0,08 Prozentpunkte, am stärksten seit Juni. Die Renditen bewegen sich umgekehrt zu den Preisen.

  • Der britische Premierminister Boris Johnson und die Präsidentin der Europäischen Kommission, Ursula von der Leyen, sagten beide, es sei wahrscheinlicher, dass Großbritannien und die Europäische Union bis Ende des Jahres keine Einigung über den Freihandel erzielen würden. Die Gespräche werden voraussichtlich über das Wochenende fortgesetzt.

  • In den Vereinigten Staaten wurden die Hoffnungen auf eine Einigung über neue fiskalische Anreize vor den Kongresspausen verringert. Am Donnerstag gaben Berater des republikanischen Mehrheitsführers Senator Mitch McConnell an, dass viele Republikaner einem überparteilichen Paket, das sich herausgebildet hatte, nicht zustimmen würden. Am selben Tag zeigten Daten, dass letzte Woche mehr als 947.000 Menschen Arbeitslosengeld beantragt haben, ein Sprung gegenüber der Vorwoche.

Da die wirtschaftliche Erholung ins Stocken gerät und die Bundeshilfe in Washington ins Stocken gerät, versuchen die Regierungen der Bundesstaaten, kleinen Unternehmen zu helfen, den Pandemiewinter zu überstehen.

Der Gesetzgeber von Colorado hat letzte Woche eine Sondersitzung abgehalten, um ein wirtschaftliches Hilfspaket zu verabschieden. Ohio bietet eine neue Runde von Zuschüssen für Restaurants, Bars und andere von der Pandemie betroffene Unternehmen an. Und in Kalifornien wird ein neuer Fonds staatliche Gelder verwenden, um private Kredite in Höhe von Hunderten von Millionen Dollar zu stoppen. Andere Staaten, angeführt von Republikanern und Demokraten, haben ähnliche Maßnahmen angekündigt oder erwägen diese.

Die Bemühungen kommen, da sich viele Unternehmen in einer zunehmend schwierigen Situation befinden, berichtet Ben Casselman von der New York Times.

Eine Umfrage der National Federation of Independent Business am Dienstag ergab, dass der Optimismus sinkt und die Unsicherheit steigt, da der landesweite Anstieg der Coronavirus-Fälle die Regierungen dazu veranlasst, Beschränkungen wieder einzuführen, und die Verbraucher, ihre Ausgaben zu reduzieren. Separate Daten des Census Bureau zeigen, dass immer mehr kleine Unternehmen Arbeitsplätze abbauen, und andere Umfragen haben ergeben, dass eine große Anzahl von Unternehmen vom Scheitern bedroht ist.

In diesem Fall könnte dies sowohl für die Volkswirtschaften als auch für die Staatshaushalte eine Katastrophe sein. Lokale Unternehmen sind wichtige Steuereinnahmequellen – sowohl direkt als auch über ihre Mitarbeiter – und wichtige Triebkräfte für die Wirtschaftstätigkeit. Wenn sie in großer Zahl scheitern, wird dies die wirtschaftliche Erholung verlangsamen, sobald die Pandemie vorbei ist.

  • Lululemon meldete am Donnerstag für das dritte Quartal einen Umsatz von 1,1 Milliarden US-Dollar, ein Plus von 22 Prozent gegenüber dem Vorjahr, da Käufer Leggings und andere Trainingsgeräte kauften, um bei der Arbeit von zu Hause aus bequem und in Form zu bleiben. In Nordamerika stieg der Nettoumsatz um 19 Prozent. Der direkte Umsatz mit Verbrauchern – einschließlich Online-Verkäufen – stieg um 94 Prozent.

  • Walmart bereitet mehr als 5.000 seiner Geschäfte darauf vor, Impfstoffdosen zu erhalten, damit sie bereit sind, die Aufnahmen zu verteilen, sobald sie die behördliche Genehmigung erhalten und verfügbar sind. Der Einzelhändler sagte in einer Erklärung am Donnerstag, dass er sicherstellen würde, dass genügend Gefrierschränke und Trockeneis vorhanden sind, um den Impfstoff zu lagern, und sich darauf vorbereite, den Impfstoff über seine Walmart- und Sam’s Club-Geschäfte sowie in Langzeitpflegeeinrichtungen wie Pflegeheimen zu verteilen. Das Unternehmen wird sich bei der Ausrichtung seiner Vertriebsanstrengungen auf die Regierungen der Bundesstaaten verlassen.

Die New Yorker Generalstaatsanwältin Letitia James hat am Mittwoch die Klagen gegen Facebook angekündigt.  Einige Rechtsexperten sagten, die Fälle seien weit entfernt von einem Slam Dunk.Anerkennung…über die Generalstaatsanwaltschaft von New York

Die US-Regierung und mehr als 40 Staaten verklagten Facebook am Mittwoch wegen illegaler Vernichtung von Wettbewerbern und forderten das Unternehmen auf, die Akquisitionen von Instagram und WhatsApp rückgängig zu machen.

Hier sind fünf wichtige Fragen zum Fall beantwortet:

Es gibt einen rechtlichen Grund, warum Instagram und WhatsApp im Mittelpunkt der staatlichen und bundesstaatlichen Klagen stehen. Der Versuch, den Wettbewerb durch den Kauf von Konkurrenten zu verringern, verstößt ausdrücklich gegen die amerikanischen Kartellgesetze. Genau das sagen Regierungsanwälte, Facebook habe es getan und werde es auch weiterhin tun.

Das Schwierige ist jedoch, dass die Regierung Facebook in den Jahren 2012 und 2014 die Erlaubnis zum Kauf von Instagram und WhatsApp erteilt hat. Facebook argumentiert, dass es für Regierungsbeamte unfair ist, jetzt eine Überarbeitung zu versuchen, und dass Facebook Instagram und WhatsApp besser gemacht hat als Sie hätten alleine sein können.

Die Beilegung solcher Klagen kann Jahre dauern. Ihre Erfahrung mit Facebook, Instagram, WhatsApp oder Messenger wird morgen nicht plötzlich anders sein.

Die unmittelbareren Auswirkungen dieses Rechtsstreits könnten subtile Änderungen an diesen sozialen Apps sein, da Facebook ein Auge auf seine Gerichtsverfahren hat.

Facebook arbeitet bereits daran, dass Messaging-Funktionen in mehreren Apps hinter den Kulissen nahtloser miteinander verschmelzen, was eine Trennung erschweren könnte. Es ist auch möglich, dass Facebook Neuerwerbungen zurückhält oder Funktionen in der Entwicklung ändert, um die rechtlichen Argumente des Unternehmens nicht zu verletzen.

In einem Interview im vergangenen Jahr sagte Bill Gates, dass das Windows seines Unternehmens – und nicht Googles Android – das beliebteste Smartphone-System der Welt gewesen sein könnte, wenn Microsoft nicht von den 1998 eingeleiteten Kartellverfahren der Regierung „abgelenkt“ worden wäre. Gates spiegelte eine gemeinsame Ansicht der Unternehmensleiter der Zeit wider, dass die Klagen Microsoft vorsichtiger machten und das Unternehmen infolgedessen die Chance verpasste, neue Wege zu gehen.

Es ist möglich, dass Facebook sein Verhalten ändert, weil es durch Gerichtsverfahren festgefahren ist oder sich Sorgen macht, wie Mobber auszusehen.

Die Regierung verklagt Facebook nach Jahren, in denen sie ihre Macht nicht eingeschränkt hat und weil es jetzt einen politischen Willen dazu gibt.

Die Federal Trade Commission ist dieselbe Regierungsbehörde, die im vergangenen Jahr angeprangert wurde, weil sie eine überschaubare Geldbuße von Facebook abgezogen hatte und Änderungen der Datenschutzrichtlinien im Unternehmen mit ungewissen Vorteilen für diejenigen von uns forderte, die die Apps des Unternehmens nutzen. Dieselbe Agentur genehmigte die Akquisitionen von Instagram und WhatsApp.

Was sich jetzt ändert, ist, dass gewählte Beamte und andere Regierungsmitglieder in ihrer Frustration über Amerikas Tech-Supermächte vereint sind und eher bereit sind, umfassende Änderungen zu fordern.

Menschen, die diese Unternehmen, das Internet und die amerikanische Wirtschaft verändern wollen, sehen Kartellklagen manchmal als allgemeine Lösung an. Aber Kartellfälle werden, selbst wenn sie erfolgreich sind, nicht unbedingt all die verschiedenen und manchmal inkonsistenten Beschwerden behandeln, die viele Menschen haben.

Egal, was mit dem Facebook-Fall passiert, es gibt kein Zurück zu unbeschwerteren Zeiten für die Technologiegiganten. In Hauptstädten der Welt, in Gerichtssälen und in der Öffentlichkeit kämpfen wir mit dem, was es für eine Handvoll reicher Technologieunternehmen bedeutet, unser Leben, unsere Wahlen, unsere Wirtschaft und unseren Geist zu beeinflussen.

Categories
Entertainment

Piano Bars and Jazz Golf equipment Reopen, Calling Reside Music ‘Incidental’

Although most indoor live performances in New York have been banned since the deadly spread of the coronavirus began in March, about a dozen people showed up at Birdland, the jazz club near Times Square, for a 7 p.m. performance on Wednesday night Live jazz was billed for dinner. They had reservations.

Among them was Tricia Tait, 63, from Manhattan, who came for the band, led by tuba player David Ostwald, who plays the music of Louis Armstrong. Until the pandemic, it had played on Birdland most Wednesdays. She admitted having health concerns “in the back of your mind” but said, “Sometimes you just have to take risks and enjoy things.”

As the daily number of new coronavirus cases in New York City has risen to levels not seen since April, face-to-face learning in public middle and high schools has been suspended, and Governor Andrew M. Cuomo warned this week not to allow indoors dine It could soon be banned in the city. Birdland and a number of other well-known jazz clubs and piano bars across town are once again offering quietly live performances, arguing that the music they are presenting is “random” and therefore will be allowed by the pandemic. Era guidelines set by the State Liquor Authority.

These guidelines state that “only random music is allowed at this time” and that “advertised and / or ticket shows are not allowed”. They continue: “Music should be part of the culinary experience, not the draw.”

That hasn’t stopped a number of New York City venues better known for their performances than their cuisine – including Birdland, the Blue Note, and Marie’s Crisis Cafe, a West Village piano bar that reopened on Monday with a show tune after she declared herself to be the establishment – from offering live music again.

“We think it’s coincidental,” said Ryan Paternite, Birdland’s program and media director, of its calendar of events, which includes a marching band and a jazz quartet. “It’s background music. That’s the rule. “

The rules have been challenged in court. After Michael Hund, a guitarist from Buffalo, filed a lawsuit against her in August, a US District Court judge in New York’s western district issued an injunction last month preventing the state from enforcing its ban on advertised and ticketed Enforce shows. “The minor music rule prohibits one type of live music and allows another,” wrote Judge John L. Sinatra Jr. in his November 13 ruling. “This distinction is arbitrary.”

The state appeals the judgment.

“Science recognizes that mass gatherings can easily become super-spreader events, and it cannot be overlooked that companies would seek to undermine tried and tested public health rules like these as infections, hospitalizations and deaths continue to rise “said William Crowley, a spokesman for the alcohol authority, said Thursday. He noted that a federal judge in New York City had ruled in another case that the restrictions were constitutional. He said the state will “continue to vigorously defend our ability to fight this pandemic if it is challenged”.

However, it is unclear what exactly “random” music means. Does that mean a guitarist in the corner? A six-piece jazz band like the one that played at Birdland on Wednesday night? The Harlem Gospel Choir, who will perform at Blue Note on Christmas Day? Mr Crowley on Thursday did not respond to questions seeking clarity or what enforcement action the state has taken.

Robert Bookman, an attorney who represents a number of New York City’s live music venues, said the venues interpreted the judgment as allowing them to advertise and sell tickets to occasional music performances during dinner.

Hence, the venues have carefully chosen their words. They take dinner reservations and announce line-up calendars for what Mr. Paternite of Birdland calls “background music during dinner.” Unlike Mac’s public house, the Staten Island Bar, which declared itself an autonomous zone and was recently ridiculed on Saturday Night Live, they have no interest in openly disregarding regulations.

Mr Paternite said that after laying off nearly all 60 employees in March, Birdland is now returning to what he calls the “skeletal staff” of about 10 people.

“It is a big risk for us to be open,” he said. “And it only pays in a cent. But it helps us with our arrangement with our landlord because in order to pay our rent over time and keep our utilities and taxes updated we need to stay open. But we lose huge amounts every day. “

If the venues don’t reopen now, he fears they may never do so. Jazz Standard, a popular 130-seat club on East 27th Street in Manhattan, announced last week that it would be permanently closed due to the pandemic. Arlene’s Grocery, a club in the Lower East Side where the Strokes took place before they became known, said it was “life sustaining” and had to close on February 1 without assistance.

Randy Taylor, the bartender and manager of Marie’s Crisis Cafe, said the last time the piano bar served food was likely in the 1970s – or maybe earlier. “There is a very old kitchen that is completely disconnected upstairs,” he said. Dining options are extremely limited: there are currently $ 4 bowls of chips and salsa on offer. “We have to sell them,” he said. “We can’t just give them away.”

Steven Bensusan, the president of Blue Note Entertainment Group, said he hoped the state doesn’t move to stop eating indoors.

“I know the cases are sharp,” he said. “But we’re doing our best to keep people safe, and I hope we can stay open. We won’t be profitable, but we have the opportunity to give work to some people who have been with us for a long time. “

The clubs said they are taking precautions. In the Blue Note, which reopened on November 27th, the tables that were previously divided are now two meters apart and separated from one another by plexiglass barriers. The two nightly seats for dinner are each limited to 25 percent or about 50 people. At Marie’s Crisis Cafe, where masked pianist Alexander Barylski sat behind a clear screen on Wednesday night as he led a cheering group choir from “Frosty the Snowman,” Taylor said the tables were separated by plastic barriers and that the venue conducted temperature tests and collected contact tracking information at the door.

Marie’s Crisis Cafe had streamed live on Instagram and his Facebook group page, but Mr. Taylor said it wasn’t the same. On Wednesday night, 10 customers strapped Christmas music through masks, some having had their first drinks at a venue since March.

“There were some tears,” said Mr. Taylor. “People really missed us. We can’t see their smiles through their masks, but their eyes say it all. “

Categories
World News

Covid-19 Information: Reside Updates – The New York Occasions

Here’s what you need to know:

Credit…Steve Helber/Associated Press

Pennsylvania announced statewide restrictions on Thursday that ban indoor dining and close gyms, theaters and casinos for three weeks to stem a “dire” surge in coronavirus cases, and Virginians were asked to stay home from midnight to 5 a.m. until the new year.

The clampdowns came as states across the country reported deaths and cases in numbers never seen before, and hospitals filled beyond capacity. Through Wednesday, there were seven-day records in both cases and deaths.

In Pennsylvania, Gov. Tom Wolf was unsparing Thursday in his characterization of the threat facing his state.

“This virus continues to rage in Pennsylvania,” Mr. Wolf said at a news conference. “Clearly we need to take future mitigation actions and stop the spread of Covid-19. We all hoped it would not come to this. The current state of the surge in Pennsylvania will not allow us to wait.”

And in Virginia, Gov. Ralph Northam announced a new executive order that imposes a nightly curfew, but it was unclear how — and how vigorously — it would be enforced.

The order lists categories of activity that will still be permitted during the curfew, including obtaining food, goods or services; seeking medical or law enforcement help; taking care of people or animals; child care; exercise; traveling to work, school or a house of worship; volunteering for charity; and leaving home to seek safety.

The governor urged residents not to go out without good reason. “We need to take this seriously,” Mr. Northam said. “We need to stay at home.”

But asked how the curfew would be enforced, the governor said it was “about messaging.”

Virginia reported at least 21 new coronavirus deaths and 4,398 new cases on Wednesday. Over the past week, the state has reported an average of 3,521 cases a day, an increase of 41 percent from the average two weeks earlier.

The new order also prohibits all public and private in-person gatherings of more than 10 people who do not live together, with exceptions for work and education, and requires people to wear masks “if they are in an indoor setting shared by others.” The state already requires masks outdoors.

Oklahoma also limited indoor activity, restricting indoor youth sporting events and public gatherings — which includes weddings, funerals and holiday parties held at event centers — to 50 percent capacity for the next 30 days. Places of worship are excluded.

On Wednesday, Pennsylvania reported 8,626 new cases and an additional 247 coronavirus deaths. The daily average over the past week has hovered near 10,000 cases per day, an increase of 51 percent from the average two weeks earlier.

Dr. Jaewon Ryu, the president and chief executive officer of Geisinger Health System, a regional hospital system, said the network was “operating pretty close to 100 percent capacity.”

Mr. Wolf, who announced on Wednesday that he had tested positive for the coronavirus and would be performing his duties remotely, said he was feeling well and that he had tested negative on Thursday. Mr. Wolf’s wife, Francis Wolf, also tested negative.

It was not immediately clear what type of test Mr. Wolf took, or if he had previously felt sick. Some types of coronavirus tests are prone to delivering incorrect results, especially when they are taken by people who are not experiencing symptoms.

Even before Governor Wolf issued his new order, the Pennsylvania House majority leader, Kerry Benninghoff, a Republican, pushed back against what many suspected was coming.

“Governor Wolf, do not cancel Christmas,” Mr. Benninghoff said in a statement. “Do not use your executive order pen to devastate lives and livelihoods. Government mandates will not cure COVID-19 and unilateral shutdowns will not create personal responsibility.”

In Virginia, speaking on the first night of Hanukkah, the governor also called on citizens to remember service members and essential workers during the holiday season.

“I know that Christmas and Hanukkah are truly cherished times,” he said. “The holidays look a bit different this year, and some of the traditions we treasure just aren’t possible.”

But he added, “As we look ahead to a new year, I see reason for hope and optimism that in the coming months, things will be better.”

The Pfizer/BioNTech vaccine being administered at a London hospital this week.Credit…Pool photo by Victoria Jones

Pfizer’s Covid-19 vaccine passed a critical milestone on Thursday when a panel of experts formally recommended that the Food and Drug Administration authorize its use.

The F.D.A.’s vaccine advisory panel, composed of independent scientific experts, infectious disease doctors and statisticians, voted in favor of emergency authorization for people 16 and older.

Although the F.D.A. does not have to follow the advice of its advisory panel, it usually does, and it is likely to do so within days, giving health care workers and nursing home residents first priority to begin receiving the first shots early next week.

The agency may act as soon as Saturday, though officials cautioned that last-minute legal or bureaucratic requirements might delay an announcement.

With that formal blessing, the nation may finally begin to slow the spread of the virus just as infections and deaths surge, reaching a record of more than 3,000 daily deaths on Wednesday.

The initial shipment of 6.4 million doses will leave Pfizer warehouses within 24 hours of being cleared by the F.D.A., according to federal officials. About half of those doses will be sent across the country, and the other half will be reserved for the initial recipients to receive their second dose about three weeks later.

It is the beginning of a complex, monthslong distribution plan coordinated by federal and local health authorities, as well as large hospitals and pharmacy chains.

If successful, the vaccine campaign should help return a grieving and economically depressed country back to some semblance of normal.

“With the high efficacy and good safety profile shown for our vaccine, and the pandemic essentially out of control, vaccine introduction is an urgent need,” Kathrin Jansen, a senior vice president and the head of vaccine research and development at Pfizer, said at the meeting.

The recommendation vote caps a whirlwind year for Pfizer and its German partner BioNTech, which began working on the vaccine 11 months ago, shattering all speed records for vaccine development, which typically takes years.

The Pfizer vaccine has already been given to people in Bahrain and Britain. Canada approved it on Wednesday. A U.S. authorization for it is expected to be followed soon by one for Moderna’s vaccine, which uses similar technology and has also shown promising results in clinical trials.

Dr. Robert Redfield, director of the Centers for Disease Control and Prevention, testifying before Congress in September.Credit…Anna Moneymaker/The New York Times

The editor in chief of a weekly report from the Centers for Disease Control and Prevention has told House Democrats that she was ordered to destroy an email showing that Trump political appointees attempted to interfere with its publication — and that she believes the order came from Dr. Robert R. Redfield, the agency’s director.

The explosive allegation from Dr. Charlotte Kent, the editor of the C.D.C.’s Morbidity and Mortality Weekly Report — the so-called “holiest of the holy” of health reports — is contained in a letter that Representative James E. Clyburn of South Carolina, the No. 3 House Democrat, sent Thursday morning to Dr. Redfield and the health secretary, Alex M. Azar II.

The email in question, dated Aug. 8, was sent by Dr. Paul Alexander, then a senior H.H.S. adviser, Mr. Clyburn’s letter said. In it, Dr. Alexander demanded that the C.D.C. insert new language in a previously published scientific report on coronavirus risks to children, or “pull it down and stop all reports immediately.”

Dr. Kent was on vacation when it arrived; the request to delete the message, she told investigators, was passed on to her by the woman who was filling in for her. She considered the request “very unusual,” she said. And when she tried to comply, she discovered the email had already been deleted — but she told investigators she had “no idea” by whom.

Dr. Redfield has said that the scientific integrity of the M.M.W.R., as the reports are known, has never been compromised — a point he reiterated in a statement on Thursday. He did not deny the order to delete the email, but said he had “instructed C.D.C. staff to ignore” Mr. Alexander’s comments.

“As I testified before Congress, I am fully committed to maintaining the independence of the M.M.W.R., and I stand by that statement.” Dr. Redfield said.

A separate statement from the C.D.C.’s parent agency, the Department of Health and Human Services, called Mr. Clyburn’s letter “irresponsible” and said it mischaracterized Dr. Kent’s testimony. House Republicans then released excerpts from Dr. Kent’s testimony in which she said she was “very committed to maintaining the scientific integrity of the M.M. WR.,” and would never let anything interfere with that.

Mr. Clyburn, who leads a committee that is investigating political interference with the C.D.C., wrote that after Dr. Kent spoke to the panel on Monday, the Trump administration abruptly canceled four more interviews with top C.D.C. scientists and officials, a move the congressman said amounted to obstructing his investigation.

“I am deeply concerned that the Trump administration’s political meddling with the nation’s coronavirus response has put American lives at greater risk,” Mr. Clyburn wrote, “and that administration officials may have taken steps to conceal and destroy evidence of this dangerous conduct.”

He told Mr. Azar and Dr. Redfield that if theydid not produce documents requested by his panel by Dec. 15, he would subpoena the records.

The issue of political interference in the weekly reports burst into the news in September, when current and former senior health officials disclosed that H.H.S. political appointees had repeatedly asked the C.D.C. to revise, delay and even scuttle reports on the coronavirus that they believed were unflattering to President Trump.

One point of contention was the C.D.C.’s guidance on school openings.

Mr. Clyburn’s letter quoted Mr. Alexander’s email as saying: “C.D.C. tried to report as if once kids get together, there will be spread and this will impact school reopening. … Very misleading by C.D.C. and shame on them. Their aim is clear. … This is designed to hurt this Presidnet [sic] for their reasons which I am not interested in.”

Mr. Alexander was dismissed from the department in September.

The committee is now seeking to interview the four other C.D.C. officials whose appearances were canceled: Dr. Anne Schuchat, the principal deputy director; Nina Witkofsky, the acting chief of staff; Trey Moeller, the acting deputy chief of staff; and Kate Galatas, the acting associate director for communications.

Volunteers for coronavirus vaccine trials in Soweto, South Africa.Credit…Jerome Delay/Associated Press

Wealthy nations have a firm upper hand in securing a coronavirus vaccine compared with developing countries, a global coalition of organizations and activists warned on Wednesday.

In about 70 developing countries, only one in 10 residents is expected to receive a Covid-19 vaccine within the next year, according to the People’s Vaccine Alliance, which consists of organizations such as Amnesty International, Frontline AIDS, Global Justice Now and Oxfam.

“The hoarding of vaccines actively undermines global efforts to ensure that everyone, everywhere can be protected from Covid-19,” said Steve Cockburn, Amnesty International’s head of economic and social justice. “Rich countries have clear human rights obligations not only to refrain from actions that could harm access to vaccines elsewhere, but also to cooperate and provide assistance to countries that need it.”

Rich countries representing 14 percent of the global population have bought over 50 percent of promising Covid-19 vaccines, according to data collected by Airfinity, a London-based software company tracking deals between countries and manufacturers. It looked at supply deals that included eight vaccine candidates in Phase 3 clinical trials.

The alliance called on pharmaceutical companies along with researchers to “share the science, technological know-how and intellectual property” of their vaccines. They also asked governments to ensure their Covid-19 vaccines are free to the public and equitably available.

Recently, countries including South Africa and India have pushed for loosened restrictions on intellectual property rights for Covid-19 vaccines, proposing that the World Trade Organization end global enforcement of the rights in the interest of accessibility.

“Governments must also ensure the pharmaceutical industry puts people’s lives before profits,” said Heidi Chow, a senior campaign and policy manager at Global Justice Now.

Developing countries that the alliance focused on currently have access to the vaccine only through Covax, a global initiative to vaccinate much of the world population. (The United States declined to be a part of the effort.)

The United Kingdom started vaccinations this week, after becoming the first Western country to authorize a Covid-19 vaccine. On Wednesday, the United Arab Emirates approved China’s coronavirus vaccine, signaling a win for that country’s vaccine ambitions. Canada approved Pfizer and BioNTech’s coronavirus vaccine, which was also approved in Britain. Both Pfizer and Moderna have submitted their applications for emergency approvals the U.S. Food and Drug Administration and vaccinations in the U.S. could start before next month.

However, the news of vaccination success in wealthy nations hasn’t necessarily equated to access for developing countries: Wealthy nations have purchased enough doses to vaccinate their populations three times over by the end of 2021, the alliance said.

“By buying up the vast majority of the world’s vaccine supply, rich countries are in breach of their human rights obligations,” Mr. Cockburn said. “Instead, by working with others to share knowledge and scale up supply, they could help bring an end to the global Covid-19 crisis.”

Weekly initial jobless claims through the week ending Dec. 5

Pandemic Unemployment

Assistance claims

Jump in claims the week after Thanksgiving

Weekly initial jobless claims through the week ending Dec. 5

Pandemic Unemployment

Assistance claims

Jump in claims the week after Thanksgiving

Applications for jobless benefits resumed their upward march last week as the worsening pandemic continued to take a toll on the economy.

More than 947,000 workers filed new claims for state unemployment benefits last week, the Labor Department said Thursday. That was up nearly 229,000 from the week before, reversing a one-week dip that many economists attributed to the Thanksgiving holiday. Applications have now risen three times in the last four weeks, and are up nearly a quarter-million since the first week of November.

On a seasonally adjusted basis, the week’s figure was 853,000, an increase of 137,000.

Nearly 428,000 applied for Pandemic Unemployment Assistance, a federal program that covers freelancers, self-employed workers and others who don’t qualify for regular state benefits.

Unemployment filings have fallen greatly since last spring, when as many as six million people a week applied for state benefits. But progress had stalled even before the recent increases, and with Covid-19 cases soaring and states reimposing restrictions on consumers and businesses, economists fear that layoffs could surge again.

“It’s very clear the third wave of the pandemic is causing businesses to have to lay people off and consumers to cut back spending,” said Daniel Zhao, senior economist for the career site Glassdoor. “It seems like we’re in for a rough winter economically.”

Jobless claims rose in nearly every state last week. In California, where the state has imposed strict new limits on many businesses, applications jumped by 47,000, more than reversing the state’s Thanksgiving-week decline.

The monthly jobs report released on Friday showed that hiring slowed sharply in early November and that some of the sectors most exposed to the pandemic, like restaurants and retailers, cut jobs for the first time since the spring. More up-to-date data from private sources suggests that the slowdown has continued or deepened since the November survey was conducted.

“Every month, we’re just seeing the pace of the recovery get slower and slower,” said AnnElizabeth Konkel, an economist with the job site Indeed. Now, she said, the question is, “Are we actually going to see it slide backward?”

Many economists say the recovery will continue to slow if the government does not provide more aid to households and businesses. After months of gridlock in Washington, prospects for a new round of federal help have grown in recent days, with congressional leaders from both parties signaling their openness to a compromise and the White House proposing its own $916 billion spending plan on Tuesday. But the two sides remain far apart on key issues.

The stakes are particularly high for jobless workers depending on federal programs that have expanded and extended unemployment benefits during the pandemic. Those programs expire later this month, potentially leaving millions of families with no income during what epidemiologists warn could be some of the pandemic’s worst months.

Richard Hinch was elected speaker of the New Hampshire House of Representatives at an outdoor meeting Dec. 2. He died a week later.Credit…Elise Amendola/Associated Press

The New Hampshire State Legislature was already fiercely divided over the coronavirus when the new Republican speaker of the House of Representatives, Richard Hinch, died suddenly on Wednesday. Then came the news on Thursday that the cause of his death was Covid-19.

Mr. Hinch, who was 71, died just a week after he was sworn in as speaker — and about three weeks after an indoor meeting of his caucus that led to several members contracting the virus, an event that Mr. Hinch had tried to play down in public remarks. It was not clear whether he, too, had caught the virus at the caucus meeting.

The news will undoubtedly heighten tensions among state lawmakers, who have been at odds over the refusal of many Republican lawmakers to wear masks or take other pandemic precautions seriously. Splits have opened not just along partisan lines but also within the Republican ranks.

William M. Marsh, a Republican state representative, said the responsibility for Mr. Hinch’s death lies on the shoulders of a group of Republican members who refused to take precautions like wearing masks and maintaining social distance, and who leaned on others to do the same. “The peer pressure from colleagues is the root cause of what happened to my friend,” Mr. Marsh said of Mr. Hinch.

Democratic lawmakers, who held a majority before the Nov. 3 election, have been in an uproar over the Republican caucus meeting, which was held on Nov. 20 at a ski area. Democrats say they were kept in the dark about the infected lawmakers while Republicans were informed.

The Democratic former speaker, Steve Shurtleff, said he was troubled by Mr. Hinch’s support of Republican lawmakers who refused to wear masks on the House floor, whom Mr. Hinch had called the “patriot section” and the “freedom group.”

“It’s so ironic, looking back,” Mr. Shurtleff said on Thursday. “I know he was just doing his job as a Republican leader, defending his members and his caucus, but it seems so senseless now.”

Mr. Shurtleff said he hoped that the acting speaker would arrange for the House to meet remotely when its next session convenes in January, because he did not expect the mask-resistant Republicans to change their behavior. “I don’t think there will be any remorse,” he said. “There may be remorse at his passing, but not so much at the cause.”

Gov. Chris Sununu, a Republican, said on Wednesday that Mr. Hinch was “a fierce defender” of the state, “a close friend and a respected public servant.” He, too, was critical of lawmakers who refuse to wear masks. “For those who are out there doing just the opposite, just to make some sort of bizarre political point, it’s horribly irresponsible,” he said. “Use your heads, don’t act like a bunch of children.”

The State Senate and House each held their organizational meetings outdoors in 40-degree weather last week. About 130 members of the 400-seat House did not attend in person and were sworn in remotely, according to The Associated Press.

Republican lawmakers in at least two other states where mask wearing and other restrictions have been politically contentious have tested positive in recent days:

  • A South Dakota state senator who attended a dinner with the governor on Monday, and then joined dozens of lawmakers for a budget speech on Tuesday, tested positive on Wednesday. Senator Helene Duhamel of Rapid City posed for a group photo, shoulder to shoulder with Gov. Kristi Noem and more than two dozen other women who attended the dinner. Governor Noem has fiercely resisted imposing a mask mandate or any other restrictions throughout the pandemic, even as the coronavirus raged through the state in the fall, overwhelming its hospitals. The governor’s office insisted that she had not had close contact with Ms. Duhamel, even though they were photographed standing only a few feet apart.

  • The chairman of the appropriations committee in the North Dakota State Senate, Ray Holmberg, confirmed to The Bismarck Tribune on Thursday that he had tested positive, and said he believed he was infected with the virus during the legislature’s organizational session last week. Three employees of the legislature’s nonpartisan research agency have also tested positive, The Associated Press reported.

Ellen DeGeneres announced in a tweet on Thursday that she had tested positive for the coronavirus.Credit…Chris Pizzello/Invision, via Associated Press

“The Ellen DeGeneres Show” has paused filming after its host said on Thursday that she had tested positive for the coronavirus.

“Fortunately, I’m feeling fine right now,’’ Ms. DeGeneres wrote in a statement she posted to Twitter.

Ms. DeGeneres said that anyone who had been in close contact with her had been notified, and that she was following guidelines from the Centers for Disease Control and Prevention.

“I’ll see you all again after the holidays,’’ she wrote. “Please stay healthy and safe.’’

The production company Telepictures, which is a unit of Warner Bros. Television, said in a statement that it had paused filming until January.

The talk show, which films in Burbank, Calif., has been a staple of daytime television since 2003.

After shifting to virtual audiences amid the pandemic, Ms. DeGeneres had resumed filming with a limited live audience in late October. Attendees were required to wear face masks and sit six feet apart.

Ms. DeGeneres had faced accusations of leading a toxic workplace earlier this year, after BuzzFeed News published an article in July in which former staff members said they faced “racism, fear and intimidation” on set. Warner Bros. announced an investigation, three producers left the show, and Ms. DeGeneres apologized on camera and to employees.

The European Medicines Agency, located in Amsterdam, did not disclose who was behind the cyberattack.Credit…Remko De Waal/EPA, via Shutterstock

The European Medicines Agency, the European Union’s top drug regulator, whose approval is necessary for countries in the bloc to begin rolling out the coronavirus vaccine, has begun an investigation after it was hit by a cyberattack, it said on Wednesday.

The agency, which is reviewing vaccine candidates, did not provide details about the target or the date of the attack. But shortly after the announcement, Pfizer and BioNTech said in their own statement that some documents related to the regulatory submission of their vaccine and which were hosted on a server of the European agency, had been “unlawfully accessed.”

Pfizer and BioNTech said their systems had not been breached, and that no study participants appeared to have been identified as a result of the cyberattack.

The breach comes at a time of heightened threats faced by pharmaceutical companies, health care institutions and agencies involved in the production, approval and distribution of the vaccine.

Last week, IBM said it had detected a series of cyberattacks in September against companies involved in the distribution of coronavirus vaccines across the world and against a branch of the European Commission, the E.U.’s executive arm.

The European Medicines Agency is set to announce a decision on the Pfizer/BioNTech vaccine by Dec. 29. Although each country in the bloc will be in charge of its own rollout, the agency’s approval will pave the way for the largest vaccination campaign in the West, dwarfing the rollout that started this week in Britain and most likely posing more considerable logistical and security challenges.

Canada approved the Pfizer/BioNTech vaccine on Wednesday, becoming the second Western country to do so. Russia began the rollout of its own Sputnik 5 vaccine on Saturday.

The European Medicines Agency didn’t disclose who was behind the cyberattack, saying that it “cannot provide additional details whilst the investigation is ongoing.” Pfizer and BioNTech said in their statement that they were awaiting further information from the agency.

Cybersecurity experts have said that only state actors could carry out such operations. Microsoft revealed last month that hacker groups backed by Russia and North Korea had targeted several vaccine makers in the United States, Canada and France, among other countries.

“The intentions behind those attacks are to parasite Western efforts on the vaccine,” said Julien Nocetti, a researcher at the French Institute of International Relations who studies cybersecurity with a focus on Russian activities.

By breaking into the system of key actors involved in the vaccine or by disrupting distribution efforts, attackers could exact considerable damage, said Claire Zaboeva, a senior cyberthreat analyst at IBM’s Security X-Force.

Ms. Zaboeva said about the production and delivery of the vaccine: “If you manage to get the key to the whole kingdom, you have 500 options on the menu: collecting key timetables, which nations will get the vaccine, how it will get there, what companies will be associated with the delivery, or how it will be handled.”

Healthcare workers and the Connecticut National Guard administering coronavirus tests in Stamford, Conn., on Wednesday.Credit…Dave Sanders for The New York Times

Months into the pandemic, many people still are frustrated and confused about virus testing.

Long lines at testing sites, delays in getting results and even surprise testing bills have discouraged some people from getting tested.

And many people don’t understand what a test can and can’t tell you about your risk, and wrongly think a test result that comes back negative guarantees they can’t spread the virus to others.

We asked some of the nation’s leading experts on testing to help answer common questions about how to get tested, what to expect and what the different tests and results really mean.

Among them:

  • When should be people be tested?

  • What are the tests like?

  • What type of test should people get?

  • And how do you interpret the results?

Airlines are just one piece of a massive global machine cranking up to tackle one of the biggest logistical challenges in recent memory.Credit…Kriston Jae Bethel for The New York Times

Months before anyone knew which of the coronavirus vaccine candidates would pull ahead or when they’d be available, airlines were trying to figure out how to transport doses around the world.

Over the summer, American Airlines, Delta Air Lines and United Airlines spoke with government officials, pharmaceutical companies and experts to understand where vaccines might be produced, how they would be shipped and how best to position people and planes to get them moving. More recently, they have flown batches of vaccines for use in trials and research or to prepare for wider distribution.

The industry will play a vital role in moving billions of doses in the months ahead, putting underused planes and crews to work while circulating the very medicine that airlines hope will get people to book tickets again.

“When a request comes in, it’s going to be urgent and we have to act immediately,” said Manu Jacobs, who oversees shipments of pharmaceuticals and other specialty products for United.

One of the biggest challenges for airlines has been ensuring that vaccines are transported at frigid temperatures. Pfizer’s must be stored at an incredibly low minus-94 degrees Fahrenheit. Moderna’s can be kept at a more easily managed minus-4 degrees.

For its vaccine, Pfizer designed special cooler containers that can be stuffed with dry ice, which is solid carbon dioxide. But aviation authorities limit how much dry ice can be carried on planes because it turns to gas, making the air potentially toxic for pilots and crews.

After running tests that showed it was safe, United last month asked the Federal Aviation Administration to raise the limit so it could fly the Pfizer vaccine from Brussels International Airport to Chicago O’Hare International Airport, according to an F.A.A. letter. The agency allowed the airline to carry up to 15,000 pounds of dry ice aboard a Boeing 777-224 plane, compared to the previous limit of 3,000 pounds, according to the letter. A single 777 can carry up to one million doses, the airline said.

In normal times, about half of all air cargo is transported by airlines, often beneath the feet of passengers. The steep decline in flights this spring removed much of that capacity, but the urgent need for masks, gloves and ventilators created a big opportunity for cash-starved carriers, allowing them to recapture at least some of that lost business.

Quarantine orders for the passenger’s close contacts aboard the ship were rescinded after he tested negative.Credit…Edgar Su/Reuters

An 83-year-old passenger who initially tested positive for the coronavirus on a “cruise to nowhere” from Singapore this week, forcing thousands of passengers and crew members to return to port a day early, did not have the virus after all, officials said on Thursday.

The passenger, who had diarrhea aboard the ship Quantum of the Seas and had taken a mandatory Covid-19 test, has since tested negative several times, Singapore’s Ministry of Health said in a statement.

“The sample taken from the individual this morning came back negative for the virus,” officials said on Thursday. It was the third negative test after two on Wednesday also came back negative.

Quarantine orders for the man’s close contacts and other passengers aboard the ship were then rescinded, the ministry said.

Singapore’s Tourism Board said that contact tracing began immediately after the man’s positive test and that all leisure activities on board were canceled. The ship’s captain had also ordered guests to remain in their cabins during the investigation.

Quantum of the Seas, which is owned by Royal Caribbean, returned to the Marina Bay Cruise Center in Singapore at 8 a.m. Wednesday. All remaining passengers and crew members were required to undergo mandatory testing upon disembarking, the tourism board said.

The board also asked that passengers monitor their health for 14 days and to undergo a swab test at a designated government center at the end of the monitoring period.

When the cruise left the city-state on Monday, all 1,680 passengers and 1,148 crew members had tested negative for Covid-19, according to the tourism board.

The incident underscores the uncertainties the global tourism industry, battered by the pandemic, faces as it struggles to restart. The cruise ship is one of two to operate out of Singapore this month while putting in place a long list of safety precautions to reassure passengers.

A New York Times reporter recently took a trip on the other one, the World Dream.

In February, the coronavirus infected more than 200 people board the Diamond Princess cruise ship, trapping its 3,600 passengers and crew. Governments later banned cruises, crews were sent home, and passengers canceled their bookings. But countries like Singapore, Japan and several in Europe have since allowed cruises to restart under the watchful eye of officials.

Dr. Vivek H. Murthy advised the N.C.A.A. Board of Governors in the early days of the coronavirus pandemic.Credit…Hilary Swift for The New York Times

President-elect Joseph R. Biden Jr.’s choice for surgeon general, Dr. Vivek H. Murthy, had a central role in the National Collegiate Athletic Association’s decision in March to cancel this year’s national basketball tournaments — one of the earliest and most culturally significant signs that the virus would upend ordinary life in America.

The work of Dr. Murthy, a member of the association’s powerful Board of Governors who was surgeon general during part of the Obama administration, offers a view into how he approached the pandemic’s initial threat in the United States, and how he might help shape the federal government’s response under Mr. Biden.

A newcomer to the insular world of college athletics, Dr. Murthy proved a cautious, deliberate expert who was wary of making drastic decisions prematurely, interviews with more than a dozen people who participated in the N.C.A.A.’s meetings suggest. But they said that as the tournaments approached and more data and scientific research emerged, Dr. Murthy was a forceful and effective champion of measures that had been unthinkable to most of society only days or weeks earlier.

Indeed, it was Dr. Murthy who urgently told board members that they risked fueling a deadly crisis if they allowed the tournaments to proceed as scheduled.

“He was instrumental in convincing the board that the time to act was now,” said Kenneth I. Chenault, a former chairman of American Express who sits on the N.C.A.A. board.

But board members like Mr. Chenault said that it was plain that Dr. Murthy understood the cultural and financial repercussions of a decision like canceling the basketball tournaments, which generate hundreds of millions of dollars.

GLOBAL ROUNDUP

A market in Seoul, South Korea, on Tuesday. Health officials warned that ​the number of coronavirus cases could rise to record highs in coming days.Credit…Kim Hong-Ji/Reuters

For most of the year, South Korea has kept its coronavirus numbers so low it was the envy of the world. Now, the country is grappling with the most elusive wave of infections it has seen, just as other nations prepare to roll out vaccinations.

South Korea’s daily number of new cases was once as low as two per day. That number soared to​ 682 on Thursday, with health officials warning it could reach record highs in coming days. On Wednesday​, 686 new cases were reported, the highest daily count since Feb. 29.

“We must exert all we can, considering this is our last hurdle to clear ​in our efforts to curb the coronavirus before vaccines and treatments come online,” President Moon Jae-in said this week. He has instructed his government to mobilize ​​soldiers​, police officers and civil servants ​to help epidemiologists’ contact-tracing efforts.

The country’s struggle to contain the recent surge is a race against time. Mr. Moon’s government announced this week that it had secured enough doses of coronavirus vaccines from companies like AstraZeneca and Pfizer to inoculate roughly 86 percent of the population, but that the first batch would not arrive until March.

South Korea has been hit by four waves of infections since its first case was reported in January. But the latest is by far the ​hardest to control, health officials said.

Previous waves included mass clusters that health officials were able to target and trace. The current wave spread through numerous small clusters that erupted in nursing homes, hospitals, saunas, bars, restaurants, music halls and factories, most of them in the Seoul metropolitan area, but also in towns farther away.

Daily cases continue to rise despite tightened social-distancing ​guidelines and other measures. Na Seong-woong, a deputy commissioner of the Korea Disease Control and Prevention Agency, warned that the daily caseload could surpass 900 next week.

“We are facing our biggest ever coronavirus crisis because the current wave is neither temporary nor regional, but steady and nationwide,” he said. “We don’t have one central cluster that we can shut down with a focused testing and isolating campaign, but it’s popping up here and there and everywhere through our daily lives.”

In other developments across the world:

  • Spain was hit far worse during the first wave of the coronavirus than official data showed at the time, according to new statistics published by Spain’s national statistics institute on Thursday. The institute said 45,684 people had died of Covid-19 between March and May, compared to the 27,127 dead that Spain’s health ministry had reported by May 31. The health ministry counts only deaths officially attributed to Covid-19, while the statistics institute counted those who died with the disease as the most likely cause.

  • Hospitals in Tokyo were strained as Japan’s capital city reported 602 new cases on Thursday, its first time topping 600 cases in a day, officials said. Government officials have recommended that residents avoid outings.

  • Pope Francis will hold midnight Mass in Rome two hours earlier on Christmas Eve than he has in previous years, beginning at 7:30 p.m. to comply with Italy’s 10 p.m. curfew. The pope will also give his annual Christmas Day blessing at noon from inside St. Peter’s Basilica instead of from the loggia, where thousands would usually gather.

  • Secondary school students in the seven worst-hit areas of London will be tested for the virus, Britain’s health secretary, Matt Hancock, said at a news conference on Thursday evening. Mr. Hancock said that group of students, which he described as being ages 11 to 18, is by far accounting for the fastest rise in cases, and that the virus rate among adults in London is “broadly flat.” He urged secondary school students to get tested regardless of whether they had symptoms and said more details on the plan would follow Friday. Mr. Hancock said with the vaccine now being administered in Britain, there is hope on the horizon. “So don’t blow it now.”

  • In New York City, Mayor Bill de Blasio outlined a plan on Thursday, without providing much specific detail, to help students recover from the educational disruption caused by the pandemic. “Clearly, there will be a Covid achievement gap, and we have to close that,” he said. The mayor noted several areas he would focus on before the start of the next school year in September: finding a baseline for the academic ground lost; developing digital content and a learning hub; expanding professional development; enlisting parents to help more in education; and helping students deal with mental health issues and trauma related to the pandemic.

The reopening of theaters, museums and cinemas in France will be delayed for another three weeks.Credit…Abdulmonam Eassa/Agence France-Presse — Getty Images

The French government on Thursday said that it will delay relaxing some Covid-19 lockdown restrictions because rates of new cases were not falling as fast as expected.

The reopening of theaters, museums and cinemas, which was planned for Dec. 15, will be pushed back another three weeks, and a curfew that will replace the current lockdown will run earlier than planned.

The authorities had announced that a reprieve from the restrictions would be implemented on the condition that France reached a target of 5,000 new cases per day and fewer than 3,000 Covid-19 patients in intensive care.

Although the target of 3,000 patients in intensive care is within sight, France on Wednesday reported about 15,000 new cases, dampening hopes that daily new cases could fall to 5,000 by next Tuesday.

“We are not yet at the end of this second wave and we will not reach the objectives we had set,” Prime Minister Jean Castex said at a news conference on Thursday.

“The battle is far from won,” he said, adding that although the health situation improved for the past few weeks, it has plateaued in recent days.

The health minister Olivier Véran said that “we know that from plateau to peak sometimes things can go very fast.”

France will stick to a previously announced plan to end the lockdown on Dec. 15 and replace it with a nightly curfew. But in a departure from the plan, the curfew will start one hour earlier, at 8 p.m., and will not be waived for New Year’s Eve.

An exception will be made for Dec. 24, Christmas Eve, when people will be allowed to move freely during the night.

“The risk is that if we don’t change anything, the second wave will start again in the next few weeks,” Mr. Véran said.

On Thursday, the French Senate released a scathing report of a parliamentary commission that dissected the government’s failures in its handling of the coronavirus crisis and denounced “late and uncoordinated decisions” that delayed the government’s response to the pandemic.

The report specifically pointed to the failure of the government’s management of critical stocks of face masks. “The shortage of masks will remain the unfortunate symbol of the unpreparedness of the country and the lack of anticipation of the health authorities in the face of the crisis,” the report said.

It pointed out that Jérome Salomon, a top official at the health ministry, chose not to replenish stocks of masks in 2018, despite being warned about risks of shortages, and lobbied to retrospectively amend a scientific report in order to justify this decision. In a statement sent on Thursday night, Mr. Salomon denied that any pressure was exerted on the authors of the report.

“The mask fiasco was deliberately concealed by the government during the crisis,” the report said, adding that “a communication crisis has undermined the credibility of public and scientific discourse, the effects of which will be lasting.”

The parliamentary commission added that France’s strategy to test, trace and isolate in order to prevent a second wave of the virus proved unsuccessful, because of backlogs of test results, a limited contact tracing operation and an almost nonexistent isolation strategy.

Mr. Castex did not comment on the report, but acknowledged that a sense of fatigue surrounding the pandemic was growing in the country.

“I know your weariness, your doubts, your suffering,” Mr. Castex said. “I share them.”

Staff aides to Senate Majority Leader Mitch McConnell warned that most Republicans are unlikely to support the bipartisan plan.Credit…Anna Moneymaker for The New York Times

Staff aides to Senator Mitch McConnell of Kentucky, the majority leader, have informed other congressional leaders that it is unlikely that the majority of Republicans could support compromise provisions addressing liability protections and state and local government funding in a $908 billion stimulus deal being hammered out by a bipartisan group of moderates.

Their warning reflected the deep resistance among several Republicans for another large round of federal relief. For months their reluctance has helped to stymie agreement on an economic recovery plan to help struggling businesses and individuals amid the pandemic. Mr. McConnell and Republicans have been particularly resistant to providing billions of dollars to cash-strapped state and local governments, a top Democratic priority that would receive $160 billion under the moderates’ emerging outline.

That package is likely to contain some form of limited liability protection to businesses, schools and hospitals, which most Democrats have dismissed as a nonstarter, but the shield could be temporary and not as sweeping as the one that Mr. McConnell has demanded, which prompted the private skepticism.

The potential Republican antipathy for the compromise that was conveyed by Mr. McConnell’s staff was first reported by Politico, and was relayed on condition of anonymity by a senior Democrat familiar with the conversation. Mr. McConnell’s office declined to comment.

“My view is that the best thing that could happen is the pieces of this that everybody agrees on, take that out — take the funding for state local governments out — and pass the rest of it,” Senator John Thune of South Dakota, the No. 2 Republican, told reporters, offering a suggestion Democrats have panned.”

The bipartisan group is still struggling to finalize its agreement, let alone produce legislation that could be voted on in the coming days.

With just a handful of days before the end of the 116th Congress and a number of critical programs established in previous coronavirus legislation set to expire, lawmakers agree that both chambers should not leave Washington until they reach consensus on both an omnibus government spending package and a pandemic aid deal.

The Senate is expected to approve a one-week stopgap bill before funding lapses on Friday, intended to buy additional time for negotiators on both issues. But the timing of the vote was unclear as of Thursday afternoon.

Top Democrats have signaled support for the bipartisan discussions, led by a handful of moderate lawmakers in both chambers, as a possible avenue for a final agreement. But in doing so, Democrats also rejected a proposal from Mr. McConnell to remove the provisions related to state and local government and liability protections and focus on approving funding for schools, education and small businesses.

Steven Mnuchin, the Treasury Secretary, presented Ms. Pelosi on Tuesday with a $916 billion alternative, but she and other Democrats rejected it given that it failed to revive lapsed federal supplemental jobless payments. Instead, it would include a round of $600 stimulus checks, half the amount initially approved earlier this year.

Categories
Business

Unemployment Claims Rise as Financial Disaster Grinds On: Reside Updates

Here’s what you need to know:

Credit…Anna Moneymaker for The New York Times

The Treasury secretary, Steven Mnuchin, was rebuked on Thursday at a congressional oversight hearing over his management of the economic relief effort, facing criticism from lawmakers over his decision to pull the plug on five of the Federal Reserve’s emergency lending programs.

Scrutiny of Mr. Mnuchin’s handling of the programs comes as he is negotiating with Congress over another $900 billion economic relief bill that lawmakers hope to pass before the end of the year.

The criticism over Mr. Mnuchin’s decision to end the Fed programs adds to the controversy surrounding one of his final acts as Treasury secretary. Mr. Mnuchin insisted again on Thursday that he was following the intent of the law in ending the lending programs at year-end and in clawing back billions from the Fed. That position is at odds with what many legal experts and Democrats in Congress say was actually required under the law.

“This was a political decision — one intended to hamstring the incoming administration even as Covid deaths are spiking and the economic recovery is slowing,” Bharat Ramamurti, an appointed member of the Congressional Oversight Commission, said at Thursday’s hearing. “Let me put it this way: Does anyone think the Treasury would have ended these programs if Donald Trump were re-elected?”

Mr. Ramamurti, a Democrat, noted that Mr. Mnuchin’s decision was only made public after the election and that Treasury had earlier indicated that the programs could continue depending on market conditions.

On Nov. 19, Mr. Mnuchin declared that the he believed all along that the programs could not continue past year-end and asked the Federal Reserve to give back the unused investments.

Mr. Mnuchin was also grilled over Treasury’s decision to extend a loan to a trucking company that was struggling before the coronavirus.

Republicans on the commission, Senator Patrick J. Toomey of Pennsylvania and Representative French Hill of Arkansas, both raised questions about why the company, YRC Worldwide, was worthy of loan that was justified on the grounds that the company was critical to national security.

“It’s been hanging on by a thread since the global financial crisis,” Mr. Hill said.

Mr. Toomey said that YRC, which had been contracted by the Defense Department to provide meal kits, protective equipment and other supplies to military bases, appeared to be nearly insolvent and asked whether giving it money was a prudent use of taxpayer funds.

Mr. Mnuchin, a former banker, agreed that he would not have underwritten the loan if he was still in private industry but said the law gave Treasury the ability to help prevent financial problems and job losses at companies deemed critical to national security.

There was a tremendous risk to the Deparment of Defense and a tremendous risk to the number of jobs,” Mr. Mnuchin said.

Lawmakers also pressed Mr. Mnuchin about one of YRC’s financial backers, Apollo Global Management, a private equity firm that also has ties to the White House.

Mr. Ramamurti asked Mr. Mnuchin if Jared Kushner, President Trump’s son-in-law and senior adviser, had encouraged him to approve the loan. In 2017, Apollo lent $184 million to Mr. Kushner’s family real estate firm, Kushner Companies, to refinance the mortgage on a Chicago skyscraper.

Mr. Mnuchin said that Mr. Kushner had no input and defended the loan, claiming that it staved off substantial job losses.

“I do think it would have been bankrupt and the company would have fired lots of people,” Mr. Mnuchin said.

Pandemic Unemployment

Assistance claims

Pandemic Unemployment

Assistance claims

Applications for jobless benefits resumed their upward march last week as the worsening pandemic continued to take a toll on the economy.

More than 947,000 workers filed new claims for state unemployment benefits last week, the Labor Department said Thursday. That was up nearly 229,000 from the week before, reversing a one-week dip that many economists attributed to the Thanksgiving holiday. Applications have now risen three times in the last four weeks, and are up nearly a quarter-million since the first week of November.

On a seasonally adjusted basis, the week’s figure was 853,000, an increase of 137,000.

Nearly 428,000 applied for Pandemic Unemployment Assistance, a federal program that covers freelancers, self-employed workers and others who don’t qualify for regular state benefits.

Unemployment filings have fallen greatly since last spring, when as many as six million people a week applied for state benefits. But progress had stalled even before the recent increases, and with Covid-19 cases soaring and states reimposing restrictions on consumers and businesses, economists fear that layoffs could surge again.

“It’s very clear the third wave of the pandemic is causing businesses to have to lay people off and consumers to cut back spending,” said Daniel Zhao, senior economist for the career site Glassdoor. “It seems like we’re in for a rough winter economically.”

Jobless claims rose in nearly every state last week. In California, where the state has imposed strict new limits on many businesses, applications jumped by 47,000, more than reversing the state’s Thanksgiving-week decline.

The monthly jobs report released on Friday showed that hiring slowed sharply in early November and that some of the sectors most exposed to the pandemic, like restaurants and retailers, cut jobs for the first time since the spring. More up-to-date data from private sources suggests that the slowdown has continued or deepened since the November survey was conducted.

“Every month, we’re just seeing the pace of the recovery get slower and slower,” said AnnElizabeth Konkel, an economist with the job site Indeed. Now, she said, the question is, “Are we actually going to see it slide backward?”

Many economists say the recovery will continue to slow if the government does not provide more aid to households and businesses. After months of gridlock in Washington, prospects for a new round of federal help have grown in recent days, with congressional leaders from both parties signaling their openness to a compromise and the White House proposing its own $916 billion spending plan on Tuesday. But the two sides remain far apart on key issues.

The stakes are particularly high for jobless workers depending on federal programs that have expanded and extended unemployment benefits during the pandemic. Those programs expire later this month, potentially leaving millions of families with no income during what epidemiologists warn could be some of the pandemic’s worst months.

Dara Khosrowshahi, Uber’s chief executive, said that drivers had served as a “lifeline” during the pandemic by delivering food and transporting health care workers.Credit…Jeenah Moon for The New York Times

Uber drivers and food delivery couriers should get priority access to the coronavirus vaccine, Dara Khosrowshahi, Uber’s chief executive, wrote in a letter to the governors of all 50 states.

Arguing that drivers had served as a “lifeline” during the pandemic by delivering food and transporting health care workers, Mr. Khosrowshahi said that they had earned a spot near the front of the vaccination line alongside other kinds of frontline workers.

“As you finalize your state-level allocation and distribution plans, I encourage you to recognize the essential nature of their work” Mr. Khosrowshahi wrote to the governors. “I want to ensure these individuals can receive immunizations quickly, easily and for free.”

He also offered to use Uber’s app to promote the vaccine and said Uber could be used to help people get to vaccination appointments.

The Centers for Disease Control and Prevention has recommended that health care workers who are at risk of contracting the virus and residents of long-term care facilities should be the first people to receive the vaccine.

Essential workers should be next, the C.D.C. suggested. But individual states have varied definitions of which workers meet the criteria. Uber drivers should be considered in that phase, Mr. Khosrowshahi said.

Volunteers prepare food for families in need in Newton Centre, Mass. Two federal unemployment programs are set to expire, potentially leaving millions vulnerable to eviction and hunger.Credit…Cody O’Loughlin for The New York Times

Millions of Americans will lose their only income in a few weeks if Congress doesn’t act soon to extend unemployment benefits.

Congress created two programs in the spring to expand the unemployment safety net: Pandemic Emergency Unemployment Compensation, which offers 13 weeks of payments to people whose regular state benefits have run out, and Pandemic Unemployment Assistance, which is intended for people left out of the regular unemployment insurance system. But the week ending Dec. 26 is the last for which people can claim benefits under the programs.

Figuring out how many people stand to lose benefits is surprisingly difficult. Data from the Labor Department on Thursday showed that 4.5 million people were enrolled in the program to extend state benefits as of the third week of November. That was down slightly from a week earlier but had been rising quickly as people exhaust their regular benefits, which last six months in most states. If the program ends, some people will qualify for a separate federal extended benefits program, but that extension isn’t available in all states.

Pandemic Unemployment Assistance is even more complicated. The report on Thursday showed that 8.6 million people were enrolled, but that figure is almost certainly an overestimate. A recent report from the Government Accountability Office found that the program had been plagued by fraud and double counting, rendering the data unreliable.

By any accounting, however, millions stand to lose their income if the programs end. Many have already drawn down savings, leaving them with little financial cushion and putting them at risk of eviction or foreclosure.

“They’re going to be very quickly forced to make a lot of bad financial decisions to put food on the table,” said Andrew Stettner, a senior fellow at the Century Foundation, a progressive group. “It can be something you can’t recover from or that takes years to recover from.”

Outside the European Central Bank’s former headquarters, in Frankfurt. Credit…Yann Schreiber/Agence France-Presse — Getty Images

The European Central Bank administered another dose of stimulus to the eurozone economy on Thursday, as policymakers signaled that they expected the impact of the pandemic to linger into 2022 even as the rollout of vaccines begins.

The bank’s Governing Council, which met on Wednesday and Thursday, extended and enlarged programs intended to keep borrowing costs low for eurozone businesses and consumer.

The bank said it would increase pandemic-related bond buying — essentially a money-printing program — by 500 million euros, to a total of €1.85 trillion euros, or $2.2 trillion. The bank said it expected to continue the purchases at least until March 2022, nine months longer than planned.

The central bank also extended by a year, to June 2022, an initiative that allows commercial banks to borrow money at negative interest rates, provided the banks pass the credit on to their customers.

The decisions indicate that the European Central Bank’s Governing Council believes economic recovery is still months away, and extraordinary measures are needed to blunt the damage caused by the pandemic.

A second wave of coronavirus infections provoked a renewed economic downturn in the last quarter of this year, prompting the bank to take action, Christine Lagarde, the president of the European Central Bank, told reporters during a news conference.

The most recent analysis by central bank economists suggests “a more pronounced near-term impact of the pandemic on the economy and a more protracted weakness in inflation than previously envisaged,” Ms. Lagarde said.

The new burst of stimulus was not a surprise after Ms. Lagarde telegraphed policymakers’ intentions at a news conference in October, and repeated the message several times afterward. The only unknowns were what precise form the stimulus would take, and how big it would be.

The measures announced Thursday were in addition to 1.35 trillion newly created euros that the central bank had allocated to buy government and corporate bonds. The purchases are a way of pushing down market interest rates to keep borrowing costs low.

Since April, the central bank has also been lending to commercial banks at interest rates as low as minus 1 percent, in effect paying lenders to take the money as a way of pumping credit into the economy. The commercial banks must lend the money to their customers and meet other conditions to qualify.

United Airlines agreed to invest in a venture plans to build large plants where carbon will be captured from the air and stored underground.Credit…Jeff Chiu/Associated Press

United Airlines said on Thursday that it planned to reduce its greenhouse gas emissions to zero by 2050, in part by investing in capturing and storing carbon.

The airline said it had agreed to invest in 1PointFive, a joint venture between a subsidiary of Occidental Petroleum and Rusheen Capital Management, a private equity firm. That venture plans to build large plants in the United States where carbon will be captured from the air and permanently stored deep underground. Each plant will be designed to remove a million tons of carbon dioxide a year, or the equivalent of the carbon removed by about 40 million trees, according to the airline.

United is among a growing list of companies to promise to effectively eliminate their contribution to climate change. Airlines face a particularly difficult challenge because the technology to produce a zero-emission jet that can economically ferry hundreds of people over long distances does not yet exist and may not for decades.

Some experts and corporate leaders, including United’s chief executive, Scott Kirby, said the world would not be able to meet its climate goals without capturing carbon dioxide in the air and storing it in perpetuity. The approach is technically feasible, but it is expensive and has yet to be deployed on a large scale.

“Everyone that really wants to get the globe down to zero is going to have to come to grips with direct capture and sequestration because that is going to be the only way to get there by 2050,” Mr. Kirby told reporters on a call on Wednesday.

To meet its goal, United also plans to invest in the development and use of “sustainable fuel” and undertake other measures. American Airlines recently announced a similar pledge to achieve net zero carbon emissions by 2050, and Delta Air Lines said this year it would invest $1 billion to become the world’s “first” carbon neutral airline.

  • Stocks drifted between gains and losses on Thursday, as new data showed that unemployment claims jumped sharply in the United States last week, and the European Central Bank’s plans to expand stimulus measures fell short of what some traders were expecting.

  • The S&P 500 fell half a percent in early trading before recouping those losses. The Stoxx Europe 600 slipped about 0.8 percent, while the FTSE 100 index in Britain was flat after giving up its early gains.

  • The Labor Department said on Thursday that more than 947,000 workers filed new claims for state unemployment benefits last week, up nearly 229,000 from the week before. Applications have now risen three times in the last four weeks.

  • The report highlights the importance of a new economic stimulus plan to shore up households and businesses as the pandemic grinds on. Prospects for a new round of federal help have grown in recent days, with the White House proposing its own $916 billion spending plan on Tuesday. But lawmakers remain far apart on key issues.

  • The E.C.B., which has bought more than 600 billion euros’ worth of European bonds as part of an effort to keep government borrowing costs low, said on Thursday that it would increase its bond-buying plan by 500 billion euros and keep purchasing the debt until at least March 2022.

  • The pound fell against all other major currencies, losing 0.9 percent against the euro and 0.6 percent against the dollar, after Prime Minister Boris Johnson of Britain returned from Brussels without a breakthrough on Brexit trade talks with the European Union. The two sides have set a new deadline of Sunday to secure a deal.

  • On Wednesday, Britain signed trade agreements with Singapore and Vietnam. Britain has rushed to sign dozens of free-trade agreements with countries because on Jan. 1 it will be independent of the European Union customs union. The agreements essentially replicate the terms of the E.U. pacts with those countries.

Merck’s chief executive, Kenneth C. Frazier, will lead a workplace diversity effort called OneTen.Credit…Mike Cohen for The New York Times

Jarred by the death of George Floyd and the issues of racial injustice raised in its wake, the chief executives of three dozen companies are starting an initiative to provide a million jobs for Black workers in the next decade.

The effort, called OneTen, is led by Merck’s chief executive, Kenneth C. Frazier, and IBM’s executive chairman, Ginni Rometty. It includes leaders at 37 companies like American Express, AT&T, Bank of America, Cisco, Delta Air Lines, General Motors, Johnson & Johnson, Nike, Stryker, Target and Wal-Mart.

The companies hope to draw in a more diverse community of workers through a recruiting start-up that will identify potential job applicants with the help of community colleges, nonprofit groups, and other organizations known for cultivating Black talent.

Organizers said the jobs would have a wide range, from nurse practitioners to roles relying on specialized technology skills. The hope, they said, is to put more Black employees into better-paying, more secure jobs that will help sustain working families and provide better access to the upper echelons of corporations.

“The primary creator of wealth in the United States is the private sector,” Mr. Frazier said. “We can rebuild our country coming out of this pandemic. And if private companies decide that they’re going to hire, as we rebuild our economy, with an equity lens, then we’ll change the country.”

Mr. Frazier, one of only a few chief executives in the Fortune 500 who is Black, said the OneTen effort began after the killing of Mr. Floyd last May by a Minneapolis police officer. The event set off angry protests over racial inequities and “soul searching” in corporate America as well, Mr. Frazier said.

Talking with other chief executives, business organizations and Ms. Rometty, who has emphasized the importance of a diverse work force at IBM, Mr. Frazier said he came to believe that, as employers, their best tool for combating systemic racism was to attract new Black talent into well-paying jobs at their companies. Given that only about 22 percent of Black people over the age of 25 in the United States have attained a bachelor’s degree — a markedly lower percentage than white and Asian people — Mr. Frazier and Ms. Rometty said that drawing more Black talent would probably require dropping certain college-education requirements.

“As an employer, if I state that every job has to have a college degree, I am predetermining the outcome,” said Ms. Rometty. “The talent is out there; I must find another pathway for it to come to me.”

OneTen — the name refers to hiring one million workers in 10 years — is set to begin its work in January. A chief executive has not yet been named.

Dr. Vivek H. Murthy advised the N.C.A.A. Board of Governors in the early days of the coronavirus pandemic.Credit…Hilary Swift for The New York Times

President-elect Joseph R. Biden Jr.’s choice for surgeon general, Dr. Vivek H. Murthy, had a central role in the National Collegiate Athletic Association’s decision in March to cancel this year’s national basketball tournaments — one of the earliest and most culturally significant signs that the virus would upend ordinary life in America.

The work of Dr. Murthy, a member of the association’s powerful Board of Governors who was surgeon general during part of the Obama administration, offers a view into how he approached the pandemic’s initial threat in the United States, and how he might help shape the federal government’s response under Mr. Biden.

A newcomer to the insular world of college athletics, Dr. Murthy proved a cautious, deliberate expert who was wary of making drastic decisions prematurely, interviews with more than a dozen people who participated in the N.C.A.A.’s meetings suggest. But they said that as the tournaments approached and more data and scientific research emerged, Dr. Murthy was a forceful and effective champion of measures that had been unthinkable to most of society only days or weeks earlier.

Indeed, it was Dr. Murthy who urgently told board members that they risked fueling a deadly crisis if they allowed the tournaments to proceed as scheduled.

“He was instrumental in convincing the board that the time to act was now,” said Kenneth I. Chenault, a former chairman of American Express who sits on the N.C.A.A. board.

But board members like Mr. Chenault said that it was plain that Dr. Murthy understood the cultural and financial repercussions of a decision like canceling the basketball tournaments, which generate hundreds of millions of dollars.

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