Tag: Live

Retail Gross sales Soar and Jobless Claims Drop in New Indicators of Restoration: Reside Updates

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Post date April 15, 2021

Shoppers in New York City on Tuesday. Retail sales surged last month, and the latest jobless claims report also provided fresh signs of economic revival.

Here’s what you need to know:

Credit…Gabby Jones for The New York Times

Jobless claims fell last week to their lowest level of the pandemic and the latest data on retail sales blew past expectations, renewing confidence in a dynamic economic revival.

About 613,000 people filed first-time claims for state unemployment benefits last week, the Labor Department said Thursday, a decrease of 153,000 from the previous week.

In addition, 132,000 filed for Pandemic Unemployment Assistance, a federal program that covers freelancers, part-timers and others who do not routinely qualify for state benefits. That was a decline of 20,000 from the previous week.

Neither figure is seasonally adjusted. On a seasonally adjusted basis, new state claims totaled 576,000.

“We’re gaining momentum here, which is just unquestionable,” said Diane Swonk, chief economist at the accounting firm Grant Thornton. But she cautioned that the jobless claims levels, while good news, were still extraordinarily high compared to what they were before the pandemic.

“You’re still not popping champagne corks,” she said. “I will breath again — and breath easy again — once we get these number back down in the 200,000 range.”

In another sign of the recovery underway, retail sales surged in March, the Commerce Department said Thursday, as Americans spent their latest round of government stimulus checks and the continued roll out of coronavirus vaccines lured more people back into stores.

The 9.8 percent increase last month was a strong comeback from the nearly 3 percent drop in February.

With the pandemic’s end seemingly in sight, the economy is poised for a robust comeback. But weekly applications for unemployment claims have remained stubbornly high for months, frustrating the recovery even as businesses reopen and vaccination rates increase. They have also been a volatile economic indicator, temporarily dipping to their lowest level of the pandemic in mid-March before rising again in recent weeks.

“The job market conditions for job seekers have really improved extremely quickly between January and now,” said Julia Pollak, a labor economist at the job site ZipRecruiter. “But there are still huge barriers to returning to work.”

Jobless claims for the next few months could remain significantly elevated as the labor market adjusts to a new normal.

Concerns about workplace safety persist, especially for workers on the younger end of the spectrum who have only just become eligible for vaccinations. Many children are still attending schools remotely, complicating the full-time work prospects for their caregivers.

But there is hope on the horizon as those barriers begin to fall. President Biden moved up the deadline for states to make all adults eligible for vaccination to April 19, and every state has complied. Students who have been learning remotely will begin to return to the classroom in earnest.

“This was the deepest, swiftest recession ever, but it’s also turning into the fastest recovery,” Ms. Pollak said. “And I don’t think we should lose sight of that just because some of the measures are a little stubborn.”

Retail sales surged in March, the Commerce Department said on Thursday, as Americans spent their latest round of government stimulus checks and the continued roll out of coronavirus vaccines lured more people back into stores.

The 9.8 percent increase last month was a strong comeback from the nearly 3 percent drop in February, when previous stimulus money had dissipated and a series of winter storms made travel difficult across much of the United States.

The rebound in March sales shows how, a year after the nation’s economy locked down to prevent the spread of the virus, consumer spending remains highly dependent on government support. It also reflects that many areas of consumption frozen by the pandemic have bounced back. Sales of clothing and accessories rose 18 percent, while restaurants and bars saw a 13 percent increase.

President Biden’s $1.9 trillion American Rescue Plan, which was signed into law last month, provides direct payments of $1,400 to lower-income Americans. Many of these checks began arriving in households toward the end of last month, when economists saw signs that spending was ramping up again, such as increased hotel occupancy and travel through airports.

Economists at Morgan Stanley had predicted that core retail sales would jump 6.5 percent in March, driven by the stimulus checks that started arriving in people’s bank accounts around March 17. The investment bank said 30 percent of consumers tend to spend their checks within the first 10 days, suggesting that many other consumers have yet to spend their checks, which could strengthen April sales.

More broadly, American consumers are also feeling increasingly optimistic as more people become vaccinated and venture out more frequently. One measure of consumer confidence, tabulated by the Conference Board, said confidence increased about 20 points in March from February, fueled by increased income and stronger business and employment expectations.

Credit…Elsa/Getty Images

Heavy trading volume greeted the highly anticipated market debut of Coinbase on Wednesday, which ended the day worth some $86 billion. The cryptocurrency company’s coming-out party made some insiders very rich, opened up new possibilities for cementing its position in the blockchain economy and blazed a trail for other crypto companies to follow its lead onto the public markets, the DealBook newsletter writes.

The stake held by Brian Armstrong, Coinbase’s co-founder and chief executive, is now worth roughly $13 billion. Shares held by its other co-founder, Fred Ehrsam, are worth about $6.7 billion. (Andreessen Horowitz’s stake is worth $11.2 billion, while Union Square Ventures’ holding is worth $5.3 billion.) Other investors who stand to collect big paper profits — if they held on to their shares — include the National Basketball Association star Kevin Durant, the rapper Nas and Alexis Ohanian, a co-founder of Reddit.

The market listing makes it easier for Coinbase to negotiate mergers and acquisitions. “We want to be able to have a public mark on our stock price because it helps us do more and more M.&A.,” Emilie Choi, the company’s chief operating officer, told the technology site Protocol. “There’s so much innovation happening in the crypto ecosystem, and we can’t possibly do it all in-house.” But the listing also brings more scrutiny of the company’s internal culture, which has included accusations of unfair treatment of Black and female employees and poor customer service.

Coinbase could lead the way for others. The tech investor Ron Conway called Coinbase “the Google for the crypto economy.” As crypto goes mainstream, others with similarly big ambitions may follow Coinbase onto the public markets, including rival markets like Binance, the biggest crypto exchange, and Gemini, the company founded by the Winklevoss twins. Exchange-traded funds that hold Bitcoin and other cryptocurrencies directly also haven’t yet been approved by the S.E.C., but proponents believe that could happen soon.

Coinbase has come a long way since its humble beginnings. Here’s Mr. Armstrong’s original Hacker News post from March 2012 looking for a co-founder for his crypto venture, which drew dismissive comments like, “Because bitcoin worked out so well. Have fun with that, dude.” Bitcoin was worth about $5 then; it’s more than $60,000 now.

Credit…Carlo Allegri/Reuters

Profit at both Bank of America and Citigroup jumped for the first three months of this year, bouncing back from the lows of the early stages of the pandemic in 2020, as they reduced their loss cushions to reflect an improving economy.

Citigroup more than tripled its profit from a year ago, reporting earnings of $7.9 billion even as its sales fell 7 percent, to $19.3 billion. Bank of America doubled its profit to $8.1 billion from $4 billion. Its revenue of $22 billion was flat.

Like JPMorgan Chase and Wells Fargo, which reported first-quarter results on Wednesday, both banks were aided by the release of the cash cushions they had set aside during the economic downturn last year to absorb potential losses. Citi released $3.9 billion of the reserve it had built up to absorb loan losses, whereas Bank of America’s provision for losses decreased $6.6 billion.

“It’s been a better than expected start to the year, and we are optimistic about the macro environment,” said Jane Fraser, who became Citi’s chief executive last month. “This is the healthiest we have seen the consumer emerge from a crisis in recent history.” Similarly, Bank of America’s chief, Brian Moynihan, noted that “progress in the health crisis and the economy point to an accelerating recovery.”

During a call Thursday morning with analysts and investors, Mr. Moynihan noted that March had been a record month for consumer spending by Bank of America customers.

Low interest rates, which have been a central feature of the Federal Reserve’s efforts to shore up the economy, dogged both companies. At Citi, investment banking and stock trading were areas of strength, rising 46 percent and 26 percent from the prior year.

At Bank of America, investment-banking fees for advising corporations on deals hit a record $2.2 billion, a 62 percent rise, thanks partly to a doubling of activity in stock underwriting deals, including initial public offerings. Global markets revenue rose 17 percent, which was primarily attributable to gains in the sales and trading of bonds and related products.

As part of its earnings release, Citi announced that would exit the consumer market in 13 countries in Asia and Europe, including Australia, China, India, and Russia, reflecting a desire to focus on the bank’s more profitable geographies. In those areas, “we don’t have the scale we need to compete,” Ms. Fraser said.

By: Ella Koeze·Data delayed at least 15 minutes·Source: FactSet

Stocks on Wall Street climbed on Thursday, with shares lifted by a new round of earnings reports and as economic data from the United States added to signs of a budding economic recovery.

The S&P 500 climbed about 0.7 percent, putting it on track for a record, while the Nasdaq composite rose by more than 1 percent. European stock indexes also rose. The Stoxx Europe 600 index increased about 0.3 percent, for a third straight day of gains in record territory.

The gains came after the U.S. government reported that jobless claims fell last week to their lowest level of the pandemic, and the latest data on retail sales blew past expectations.
About 613,000 people filed first-time claims for state unemployment benefits last week, the Labor Department said Thursday, a decrease of 153,000 from the previous week.

Separately, the Commerce Department said that retail sales surged 9.8 percent in March, a strong comeback from the nearly 3 percent drop in February, when previous stimulus money had dissipated and a series of winter storms made travel difficult across much of the United States.

Other signs of recovery came as companies reported earnings. Executives at Bank of America and Citigroup both joined their counterparts at other large financial firms in sounding an optimistic tone about the outlook for the economy. Shares of Citigroup rose more than 1.5 percent after its earnings report, while Bank of America’s stock fell slightly.

“It’s been a better-than-expected start to the year, and we are optimistic about the macro environment,” said Jane Fraser, who became Citi’s chief executive last month. “This is the healthiest we have seen the consumer emerge from a crisis in recent history.”

And Delta reported that it has stemmed daily operating losses, a sign that its planes are fuller and fares are returning to more normal levels. Its shares were lower, however, after the company said that in the first three months of the year, it lost $1.2 billion as revenue plunged from a year earlier.

After a bumper market debut, Coinbase shares rose 3 percent in early trading. On Wednesday, the cryptocurrency exchange ended its first day of trading at $328.28 a share, valuing the company at nearly $86 billion — more than 10 times its last valuation as a private company.

Despite the economic optimism, yields on 10-year U.S. Treasury notes dropped sharply to 1.58 percent. On Wednesday, Jerome H. Powell, the chair of the Federal Reserve, reiterated the central bank’s intention of keeping monetary policy accommodative for a long time. He said the bank would probably slow its bond-buying program “well before” it lifts its policy interest rate.

Credit…Charlie Riedel/Associated Press

Airlines are still racking up big losses even as ticket sales begin to recover.

Delta Air Lines said on Thursday that it lost $1.2 billion in the first three months of the year and its revenue fell about 60 percent, to $4.2 billion, from the first quarter of 2019.

But the airline said it was optimistic that business would soon improve.

“A year after the onset of the pandemic, travelers are gaining confidence and beginning to reclaim their lives,” Ed Bastian, the company’s chief executive, said in a statement. “Delta is accelerating into the recovery with our brand stronger and more trusted than ever before.”

The airline said it stemmed daily operating losses last month, a sign that its planes are fuller and fares are returning to more normal levels. Well over one million travelers have been screened at airport security checkpoints each day for more than a month, according to the Transportation Security Administration.

“If recovery trends hold, we expect positive cash generation for the June quarter and see a path to return to profitability in the September quarter as the demand recovery progresses,” Mr. Bastian said.

The airline said it expected revenue in the current quarter to be down about 50 to 55 percent compared with the same period in 2019. It expects to fly about 68 percent as many people in the quarter as it did in 2019.

The airline said ticket sales for domestic flights had recovered to 85 percent of 2019 levels, though lucrative corporate and international travelers have yet to come back in meaningful numbers. Delta will officially lift its ban on the sales of middle seats next month, allowing it to earn more from each flight.

“In the June quarter, we expect significant sequential improvement in revenue as leisure demand accelerates into the peak summer period and we add capacity,” Glen Hauenstein, Delta’s president, said in the statement.

Delta is the first major U.S. airline to report first-quarter results. United Airlines and American Airlines are scheduled to do so next week.

Credit…Jenny Kane/Associated Press

An international coalition of 35 children’s and consumer groups called on Instagram on Thursday to scrap its plans to develop a version of the popular photo-sharing app for users under age 13.

Instagram’s push for a separate children’s app comes after years of complaints from legislators and parents that the platform has been slow to identify underage users and protect them from sexual predators and bullying.

But in a letter to Mark Zuckerberg, the chief executive of Facebook — the company that owns the photo-sharing service — the nonprofit groups warned that a children’s version of Instagram would not mitigate such problems. While 10- to 12-year-olds with Instagram accounts would be unlikely to switch to a “babyish version” of the app, the groups said, it could hook even younger users on endless routines of photo-scrolling and body-image shame.

“While collecting valuable family data and cultivating a new generation of Instagram users may be good for Facebook’s bottom line,” the groups, led by the Campaign for a Commercial-Free Childhood in Boston, said in the letter to Mr. Zuckerberg, “it will likely increase the use of Instagram by young children who are particularly vulnerable to the platform’s manipulative and exploitative features.”

The coalition of nonprofit groups also includes the Africa Digital Rights’ Hub in Ghana; the Australian Council on Children and the Media; the Center for Digital Democracy in Washington; Common Sense Media in San Francisco; the Consumer Federation of America; and the 5Rights Foundation in Britain.

Stephanie Otway, a Facebook spokeswoman, said that Instagram was in the early stages of developing a service for children as part of an effort to keep those under 13 off its main platform. Although Instagram requires users to be at least 13, many younger children have lied about their age to set up accounts.

Ms. Otway said that company would not show ads in any Instagram product developed for children younger than 13, and that it planned to consult with experts on children’s health and safety on the project. Instagram is also working on new age-verification methods to catch younger users trying to lie about their age, she said.

“The reality is that kids are online,” Ms. Otway said. “They want to connect with their family and friends, have fun and learn, and we want to help them do that in a way that is safe and age-appropriate.”

Credit…Andrew Kelly/Reuters

Reuters will begin charging for access to its website as it tries to capture a slice of the digital subscription business.

The company, one of the largest news organizations in the world, announced the new paywall on Thursday, as well as a redesigned website aimed at a “professional” audience wanting business, financial and general news.

After registration and a free preview period, a subscription to Reuters.com will cost $34.99 a month, the same as Bloomberg’s digital subscription. The Wall Street Journal’s digital subscription costs $38.99 a month, while The New York Times costs $18.42 monthly.

Reuters.com attracts 41 million unique visitors a month. Months of audience research showed that those readers were divided in two separate groups: those wanting breaking news and professionals looking for context and analysis about how news affected their industry, Josh London, chief marketing officer at Reuters, said in an interview.

Reuters will roll out new sections on its website for subscribers in coming weeks that include coverage of legal news, sustainable business, energy, health care and the auto industry. It also plans to introduce industry-specific newsletters.

Mr. London described the new website as “the largest digital transformation at Reuters in a decade.” He declined to provide specifics on digital subscription goals but said that it represented “a major opportunity for us.”

Arlyn Gajilan, the digital news director at Reuters, said she expected to expand the digital team working on the revamped website.

On Monday, Reuters announced that Alessandra Galloni, a global managing editor, would become its next editor in chief. Ms. Galloni, who will be the first woman to helm the news agency in its history, starts her new role on Monday. She takes over from Stephen J. Adler, who retired after running Reuters for a decade.

Ms. Gajilan said that Ms. Galloni had been closely involved in the new direction of Reuters.com.

“She’s a very strong advocate for all things digital at Reuters,” Ms. Gajilan said.

Credit…Ilana Panich-Linsman for The New York Times

Shortages of semiconductors, fueled by pandemic interruptions and production issues at multibillion-dollar chip factories, have sent shock waves through the economy. Questions about chips are reverberating among both businesses and policymakers trying to navigate the world’s dependence on the small components.

Most attention has focused on temporary closings of big U.S. car plants. But the chips are in everything from cash registers and kitchen appliances, and the problem is affecting many other sectors, particularly the server systems and PCs used to deliver and consume internet services that became crucial during the pandemic, Don Clark reports for The New York Times.

“Every aspect of human existence is going online, and every aspect of that is running on semiconductors,” said Pat Gelsinger, the new chief executive of the chip maker Intel who attended the meeting with the president on Monday. “People are begging us for more.”

The chip shortage potentially affects just about any company adding communications or computing features to products. Many examples were described in 90 comments filed by companies and trade groups to a supply chain review by President Biden, including a laundry list of needs from industry giants like Amazon and Boeing.

Dan Rozycki is the president of a small engineering firm, that sells small sensors used to monitor construction sites to ensure concrete is hardening properly. His firm is for now among the lucky chip users. It planned ahead and has enough chips to keep making the roughly 50,000 sensors it supplies each year to construction sites. But his distributor has warned him it might not be able to deliver more of them until late 2022, he said.

“Is that going to halt those projects?” Mr. Rozycki asked. He is scouring the market for other distributors that might have the two needed chips in stock. Other possibilities include redesigning the sensors to use different chips.

A former editor at Vanity Fair has been working to create a new digital publication, in which writers will share in subscription revenue — Vanity Fair meets Substack. The new company behind the publication, Heat Media, hopes to unveil it in the coming months, four people with knowledge of the matter said. The start-up is partly the brainchild of Jon Kelly, a former editor at Vanity Fair. One of the backers is the private equity firm TPG, which would take three seats on the Heat Media board, the people said. Another investor is 40 North, a related investment arm of Standard Industries, a global industrials company, the people said. Heat Media has raised around $7 million so far, according to the people.
Kimberly Godwin, a veteran CBS News executive, was named the next president of ABC News on Wednesday, making her the first Black woman to lead a major broadcast network’s news division. Ms. Godwin succeeds James Goldston, who announced his departure from ABC in January. She will begin in her job in early May. Ms. Godwin most recently served as CBS’s executive vice president of news.

Tags Claims, drop, jobless, jump, Live, recovery, retail, sales, signs, Updates

World News

The Johnson & Johnson Vaccine: Dwell Updates on States, Blood Clotting and Europe

Post author By
Post date April 13, 2021

Nearly seven million people in the United States have received Johnson & Johnson shots so far.

Here’s what you need to know:

Credit…Mary Altaffer/Associated Press

Injections of Johnson & Johnson’s single-dose coronavirus vaccine came to a sudden halt in much of the United States on Tuesday after federal health agencies called for a pause in the vaccine’s use following the emergence of a rare blood clotting in six recipients.

All six were women between the ages of 18 and 48 and all developed the illness within one to three weeks of vaccination. One woman died and a second woman in Nebraska has been hospitalized in critical condition.

“We are recommending a pause in the use of this vaccine out of an abundance of caution,” Dr. Peter Marks, director of the Food and Drug Administration’s Center for Biologics Evaluation and Research, and Dr. Anne Schuchat, principal deputy director of the C.D.C., said in a joint statement. “Right now, these adverse events appear to be extremely rare.”

At a news conference later on Tuesday morning, Dr. Marks said that “on an individual basis, a provider and patient can make a determination whether or not to receive the vaccine” manufactured by Johnson & Johnson.

While the move was framed as a recommendation to health practitioners in the states, the federal government is expected to pause administration of the vaccine at all federally run vaccination sites. Federal officials expect that state health officials will take that as a strong signal to do the same. Within two hours of the announcement, Gov. Mike DeWine of Ohio, a Republican, advised all health providers in his state to temporarily stop giving Johnson & Johnson shots. In New York, the health commissioner, Dr. Howard Zucker, said the state would halt the use of the vaccine statewide while federal officials evaluate the safety risks. Appointments for Johnson & Johnson’s shot on Tuesday at state mass sites would be honored with Pfizer doses, Dr. Zucker said.

Several other states quickly followed the call from federal health agencies on Tuesday to pause the administration of Johnson & Johnson’s vaccine after six women in the United States developed a rare disorder involving blood clots within about two weeks of vaccination.

The other states include: Connecticut, Georgia, Illinois, Indiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, Nebraska, Oregon, Texas, Utah, Vermont and Virginia.

CVS and Walgreens, the nation’s largest retail pharmacy chains, also said that they would immediately stop Johnson & Johnson vaccinations. Both companies said they were emailing customers whose appointments would be canceled and would reschedule appointments when able.

Dr. Janet Woodcock, the acting commissioner of the F.D.A., said at the news conference Tuesday that the pause was only expected to last “a matter of days,” although she said the time frame depends on “what we learn in the next few days.” Dr. Schuchat said at the same briefing that the pause was enacted in part to “prepare the health care system to recognize and treat patients appropriately.”

Scientists with the F.D.A. and C.D.C. will jointly examine possible links between the vaccine and the disorder and determine whether the F.D.A. should continue to authorize use of the vaccine for all adults or limit the authorization.

“For people who recently got the vaccine within the last couple of weeks, they should be aware, to look for any symptoms. If you receive the vaccine and develop severe headaches, abdominal pain, leg pain or shortness of breath, you should contact your health care provider and seek medical treatment,”Dr. Schuchatsaid. She emphasized that an emergency meeting of the C.D.C.’s outside advisory committee, which has been scheduled for Wednesday, to discuss how to handle the vaccine in the future is made up of independent experts. Officials also stressed that no serious safety problems have emerged with either of the other two federally authorized vaccines, developed by Pfizer-BioNTech and Moderna.

The move could substantially complicate the nation’s vaccination efforts at a time when many states are confronting a surge in new cases and seeking to address vaccine hesitancy. Regulators in Europe and elsewhere are concerned about a similar issue with another coronavirus vaccine, developed by AstraZeneca and Oxford University researchers. That concern has driven up some resistance to all vaccines, even though the AstraZeneca version has not been authorized for emergency use in the United States.

The vast majority of the nation’s vaccine supply comes from Pfizer-BioNTech and Moderna, which together deliver more than 23 million doses a week of their two-shot vaccines.

But while shipments of the Johnson & Johnson vaccine have been much more limited, the Biden administration had still been counting on using hundreds of thousands of doses every week. In addition to requiring only a single dose, the vaccine is easier to ship and store than the other two, which must be stored at extremely low temperatures.

Jeffrey D. Zients, the White House Covid-19 response coordinator, said Tuesday the pause “will not have a significant impact” the Biden administration’s plans to deliver enough vaccine to be able to inoculate all 260 million adults in the United States by the end of May. With the Johnson & Johnson setback, federal officials expect there will only be enough to cover fewer than 230 million adults. But a certain percentage of the population is expected to refuse shots, so the supply may cover all the demand.

Mr. Zients said the administration will still “reach every adult who wants to be vaccinated” by the May 31 target.

Federal officials are concerned that doctors may not be trained to look for the rare disorder if recipients of the vaccine develop symptoms of it. The federal health agencies said Tuesday morning that “treatment of this specific type of blood clot is different from the treatment that might typically be administered” for blood clots.

“Usually, an anticoagulant drug called heparin is used to treat blood clots. In this setting, administration of heparin may be dangerous, and alternative treatments need to be given,” the statement said.

In a news release, Johnson & Johnson said: “We are aware that thromboembolic events including those with thrombocytopenia have been reported with Covid-19 vaccines. At present, no clear causal relationship has been established between these rare events and the Janssen Covid-19 vaccine.” Janssen is the name of Johnson & Johnson’s division that developed the vaccine.

In the United States alone, 300,000 to 600,000 people a year develop blood clots, according to C.D.C. data. But the particular blood clotting disorder that the vaccine recipients developed, known as cerebral venous sinus thrombosis, is extremely rare.

All of the women developed the condition within about two weeks of vaccination, and government experts are concerned that an immune system response triggered by the vaccine was the cause. Federal officials said there was broad agreement about the need to pause use of the vaccine while the cases are investigated.

The decision is a fresh blow to Johnson & Johnson. Late last month, the company discovered that workers at a Baltimore plant run by its subcontractor had accidentally contaminated a batch of vaccine, forcing the firm to throw out the equivalent of 13 million to 15 million doses. That plant was supposed to take over supply of the vaccine to the United States from Johnson & Johnson’s Dutch plants, which were certified by federal regulators earlier this year.

The Baltimore plant’s certification by the F.D.A. has now been delayed while inspectors investigate quality control issues, sharply reducing the supply of Johnson & Johnson vaccine. The sudden drop in available doses led to widespread complaints from governors and state health officials who had been expecting much bigger shipments of Johnson & Johnson’s vaccine this week than they got.

United States ›	United StatesOn Apr. 12	14-day change
New cases	72,286	+6%
New deaths	476	–27%

World ›	WorldOn Apr. 12	14-day change
New cases	617,202	+22%
New deaths	9,253	+25%

U.S. vaccinations ›

Credit…Phil Long/Associated Press

Several states quickly followed the call from federal health agencies on Tuesday to pause the administration of Johnson & Johnson’s vaccine after six women in the United States developed a rare disorder involving blood clots within one to three weeks of vaccination.

The states include: Connecticut, Georgia, Illinois, Indiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, Nebraska, New York, Ohio, Oregon, Rhode Island, South Dakota, Texas, Utah, Vermont and Virginia.

Gov. Mike DeWine of Ohio and the state’s chief health official said they were advising all state vaccine providers to temporarily halt use of the single-dose vaccine. Connecticut health officials said they told vaccine providers to delay planned appointments or give an alternative option if they had the supply. New York’s health commissioner, Dr. Howard Zucker, said the state would stop using the Johnson & Johnson vaccine while the Food and Drug Administration and the Centers for Disease Control and Prevention evaluate the safety risks.

The C.D.C.’s outside advisory committee of independent experts has scheduled an emergency meeting for Wednesday.

The White House on Tuesday said that the pause will not have a significant effect on the country’s vaccination campaign, which has accelerated in recent weeks as a rise in new virus cases threatens a fourth possible surge. Many states have already opened vaccination eligibility to all adults and others plan to by next week.

“Over the last few weeks, we have made available more than 25 million doses of Pfizer and Moderna each week, and in fact this week we will make available 28 million doses of these vaccines,” Jeff Zients, the White House Covid-19 response coordinator, said on Tuesday. “This is more than enough supply to continue the current pace of vaccinations of 3 million shots per day.”

As of Monday, 36 percent of the country’s total population has received at least one shot of a vaccine, and 22 percent are fully vaccinated, according to data from the C.D.C.

Even though the reaction to the Johnson & Johnson shot is rare, any questions about the safety of the shots could bolster vaccine hesitancy.

Nearly seven million people in the United States have received Johnson & Johnson shots so far, and roughly nine million more doses have been shipped out to the states, according to data from the C.D.C. The six women who developed blood clots were between the ages of 18 and 48. One woman died and a second woman in Nebraska has been hospitalized in critical condition.

“I know there are people who have gotten the vaccine, who are probably very concerned. For people who got the vaccine more than a month ago, the risk to them is very low at this time,” Dr. Schuchat said. “For people who recently got the vaccine within the last couple of weeks, they should be aware to look for any symptoms.”

Like many states, New York had already prepared for a significant drop in its supply of the Johnson & Johnson vaccine after federal officials said that supplies would be limited because of a production issue at a Baltimore manufacturing plant. On Friday, Gov. Andrew M. Cuomo said that New York expected to receive 34,900 Johnson & Johnson shots, a decrease of 88 percent from the previous week.

Dr. Zucker, New York’s health commissioner, said that the state would honor appointments made at state-run mass vaccination sites for the Johnson & Johnson vaccine by giving people the Pfizer-BioNTech vaccine instead. That vaccine requires two doses, and it was not immediately clear how the state would handle the additional strain on its supply.

New Jersey health officials said the state would work with its vaccination sites to help people get appointments for the Pfizer or Moderna vaccine instead. Mayor Bill de Blasio of New York City said that the city would do the same, rescheduling appointments at city-run vaccine sites.

“Every site has been told this morning to stop giving the J&J shots,” he said at a news conference.

The city’s health commissioner, Dr. Dave Chokshi, said that around 234,000 residents have received the Johnson & Johnson vaccine and none had reported any blood clots so far. The city had been relying on the vaccine to inoculate hard-to-reach New Yorkers, including people who are homebound.

Both Mr. Cuomo and Mr. de Blasio received the Johnson & Johnson vaccine at separate appearances last month, which they framed as an effort to boost confidence in that vaccine’s efficacy rate and to address vaccine hesitancy.

Regulators in Europe and elsewhere are concerned about a similar issue with another coronavirus vaccine, developed by AstraZeneca and Oxford University researchers. That vaccine has not been authorized for emergency use in the United States.

Rebecca Robbins contributed reporting.

Credit…Szilard Koszticsak/EPA, via Shutterstock

Johnson & Johnson on Tuesday said it would delay the rollout of its vaccine in Europe amid concerns over rare blood clots, in another blow to the continent’s ambition to ramp up inoculation campaigns that have lagged behind other countries in the West.

Several countries of the bloc were poised to start administering the vaccine later this week, in what would have been a boost to efforts by the European Union to vaccinate 70 percent of adults by September.

“The safety and well-being of the people who use our products is our number one priority,” Johnson & Johnson said in a statement, adding that it had been reviewing the cases of blood clots detected in the United States with European health authorities.

The first signs of concern in Europe came last week. The European Medicines Agency, the bloc’s drug regulator, said it was investigating reports of four cases of blood clots in people who had received a shot of Johnson & Johnson’s Janssen vaccine in the United States, one of them being fatal. The regulator said it wasn’t clear if there was a link between the vaccine and the clots, adding that it treated the reports as “safety signal” that required further assessment.

Johnson & Johnson started delivering its one-shot vaccine to the bloc on Monday, with some member countries like Spain and Belgium already having received modest quantities of the shot, and preparing for the rollout later in the week. Fifty-five million doses of Johnson & Johnson’s vaccine are expected to be delivered to the European Union by the end of June, and another 120 million later in the year, according to Thierry Breton, the bloc’s top industry official.

On Tuesday, injections of Johnson & Johnson’s single-dose coronavirus vaccine came to a sudden halt in much of the United States on Tuesday after federal health agencies called for a pause in the vaccine’s use following the emergence of a rare blood clotting in six recipients.

All six were women between the ages of 18 and 48 and all developed symptoms within about two weeks of vaccination. One woman died and a second woman in Nebraska has been hospitalized in critical condition.

Nearly seven million people in the United States have received Johnson & Johnson shots so far, and about nine million more doses have been shipped out to the states, according to data from the Centers for Disease Control and Prevention.

Johnson & Johnson’s announcement comes as Europe has been embroiled in a regulatory back-and-forth over another vaccine, AstraZeneca’s. Several countries have restricted the use of the vaccine in younger people, after the European Medicines Agency said there was “a possible link” between blood clots and the vaccine earlier this month, and said it should be listed as a rare side effect.

Both Johnson & Johnson and AstraZeneca use the same technology, prompting concerns that the blood clots reported in recipients of both vaccines could be the same rare, yet sometimes fatal side effect.

The agency stopped short of advising to curb the use of the vaccine in 27 member countries, saying that it was up to the national authorities to decide who should receive which vaccine, which resulted in a patchwork of different national regulations.

France and Belgium have restricted its use for those older than 55, and Germany, Italy and Spain, for those over 60. Some other countries, such as Poland, which rely heavily on AstraZeneca in their national rollouts, decided to go ahead with AstraZeneca’s vaccine.

Credit…Emily Elconin for The New York Times

The virus is again surging in parts of the United States, but it’s a picture with dividing lines: ominous figures in the Northeast and Upper Midwest, but largely not in the South.

Experts are unsure what explains the split, which doesn’t correspond to vaccination levels. Some point to warmer weather in the Sun Belt, while others suspect that decreased testing is muddying the virus’s true footprint.

The contours of where the virus is resurgent can be drawn around one figure: states that are averaging about 15 new cases a day for every 100,000 people. The 23 states — including Alabama, Mississippi and Arkansas — that have averaged that or fewer over the past week seem to be keeping cases relatively low, according to a New York Times database. Nationally, the country is averaging 21 new cases per 100,000 people.

In the 27 states above that line, though, things have been trending for the worse. Michigan has the highest surge of all, reporting the most drastic increase in cases and hospitalizations in recent weeks. Illinois, Minnesota and others have also reported worrisome increases.

Nationally, reported cases in the United States are growing again after a steep fall from the post-holiday peak in January. In the past two weeks, new confirmed cases have jumped about 11 percent, even though vaccinations picked up considerably, with an average of 3.2 million doses given daily.

Some Southern states, like Alabama and Mississippi, are lagging in vaccinations. Only about 28 percent of people in each state have received at least one shot, according to a New York Times vaccine tracker. Still, case counts continue to drop in both states.

Health experts say cases are rising in the Northeast and Upper Midwest for several reasons, including pandemic fatigue, the reopening of schools and the resumption of youth sports.

Hospitalizations tend to follow the trend line in cases by a few weeks, and have been rising in some states, most notably in Michigan.

Officials are also concerned about the spread of more contagious virus variants, especially B.1.1.7, first identified in Britain. The variant is now the leading source of new coronavirus infections in the United States, the director of the Centers for Disease Control and Prevention said last week.

Just why those factors might affect some states more than others is hard to pinpoint, experts say.

Dr. David Rubin, the director of PolicyLab at the Children’s Hospital of Philadelphia, said warmer weather in Southern states and California was probably playing a role, because it allows people to gather outdoors, with less risk of transmission.

New case reports have fallen by about 11 percent in Georgia over the past two weeks. And in Alabama, new cases are down roughly 29 percent, with a 17 percent decline in hospitalizations.

Some experts say, though, that reduced testing in some states could be obscuring the true picture. Testing in Alabama, for instance, has started to dip, but the share of tests that come back positive has remained high, at 11.1 percent, compared with a nationwide average of 5.1 percent, according to data compiled by Johns Hopkins University.

“People who are symptomatic and go to their provider are going to get a test,” said Dr. Michael Saag, the associate dean for global health at the University of Alabama at Birmingham, but “the desire for people to go get tested just because they want to know what their status is has dropped off dramatically.”

Still, Dr. Saag said, there is probably not a hidden spike in cases in Alabama right now, since hospitalizations in the state remain low.

Credit…Ahmad Gharabli/Agence France-Presse — Getty Images

Millions of Muslims on Tuesday began celebrating a second Ramadan in the middle of the pandemic, although in many countries the first day of the holy month offered the promise of a Ramadan with fewer restrictions than last year.

Mosques across the Middle East and other parts of the world were closed for prayer last year, and lockdowns prevented festive gatherings with friends and family. In Jerusalem, for instance, the Old City was largely empty and the Aqsa Mosque compound was closed to the public, as coronavirus cases were surging.

But a large degree of normalcy was back on Tuesday: The Old City’s narrow alleys were crowded, sweet shops were preparing Ramadan desserts, clothing stores were open and the Aqsa compound was welcoming worshipers.

“Last year, I felt depressed and I didn’t know how long the pandemic would last,” said Riyad Deis, a co-owner of a spice and dried fruit shop in the Old City, while selling whole pieces of turmeric and Medjool dates to a customer. “Now, I’m relaxed, I have enough money to provide for my family and people are purchasing goods from my shop — it’s a totally different reality.”

The enthusiasm of some didn’t mean the Ramadan would go as normal. Across several countries in the Middle East, the authorities imposed limitations on customs and festivities, requiring that mosques enforce social distancing and telling worshipers to bring their own prayer rugs and to wear face masks.

In Dubai, Saudi Arabia and Egypt, taraweeh, the optional extra prayers that worshipers can observe at night, were capped at half an hour. No one will also be allowed to spend the night in a mosque, as is common during the last 10 days of Ramadan.

Mosques around the region were also prohibited from serving the fast-breaking meal of iftar or the predawn meal of suhoor. Though Muslims could still gather for those meals with friends and family, the authorities asked them to limit those gatherings this year.

In Jerusalem, Omar Kiswani, the director of Al Aqsa Mosque, said he was overjoyed that the compound was open to worshipers, but still urged caution.

“These are times of great happiness — we hope the blessed Aqsa Mosque will return to its pre-pandemic glory — but these are also times of caution because the virus is still out there,” Mr. Kiswani said.

In Egypt, government officials and prominent television hosts linked to the authorities warned Egyptians of a third wave of infections as Ramadan approached, hinting that another curfew or other lockdown restrictions could be imposed if cases rose.

“If you want the houses of God to remain open,” Nouh Elesawy, an official who oversees mosques at the Egyptian Ministry of Endowments, said earlier this month, “adhere to the precautionary procedures and regulations.”

The Ramadan restrictions may hit the hardest in poor neighborhoods, where residents depend on iftar banquets usually sponsored by wealthy individuals or organizations. For those people, feasting and Ramadan gifts are likely to be rarer, with tourism still at a trickle and many small businesses still suffering from the economic effects of the pandemic.

In Lebanon and Syria, the pandemic has worsened economic crisis that will likely squeeze people’s ability to enjoy the holy month, more than the governments’ limited restrictions aimed at curbing the spread of the coronavirus.

In Syria, where experts say the official infection and death numbers for Covid-19 are far below the reality, the government has few restrictions in place. Worshipers will even be allowed to stand in line inside of mosques to pray together after breaking their fast, the Syrian Ministry of Religious Affairs said.

In Lebanon, which emerged recently from a strict lockdown, shops and restaurants can operate regularly during the day but must offer only delivery service during a nighttime curfew from 9:30 p.m. to 5 a.m.

Global Roundup

Credit…Rebecca Conway for The New York Times

India said on Tuesday that it would fast-track the approval of vaccines in use in other countries, a move aimed at rapidly increasing the country’s vaccine supply as it battles what is currently the world’s biggest coronavirus outbreak.

The Indian government said that it would grant emergency authorization to any foreign-made vaccine that had been approved for use by regulators in the United States, the European Union, Britain or Japan, or by the World Health Organization. The move had been recommended by a panel of Indian scientists and eliminates a requirement for drug companies to conduct local clinical trials.

“The decision will facilitate quicker access to such foreign vaccines” and encourage imports of materials that would boost India’s vaccine manufacturing capacity, the government said in a statement.

Earlier on Tuesday, India’s top drug regulator granted emergency approval to Sputnik V, the Russian-made vaccine, adding a third vaccine to the country’s arsenal on the same day that health officials recorded 161,736 new coronavirus infections in 24 hours.

It was the seventh straight day that India has added more than 100,000 cases, according to a New York Times database. Only the United States has seen a faster rise in infections during the pandemic.

India has administered about 105 million domestically produced vaccine doses for a population of 1.3 billion, but it is widely believed that the country needs to scale up inoculations rapidly because other measures have failed to control the virus. Many states have reimposed partial lockdowns and weekend curfews. In the country’s financial hub, Mumbai, health officials are racing to erect field hospitals as facilities report shortages of oxygen, ventilators and coronavirus testing kits.

And there is the risk of a superspreading event with the gathering of millions of Hindu pilgrims for the annual Kumbh Mela festival on the banks of the Ganges River, where the authorities say they are powerless to enforce social distancing.

India’s outbreak is reverberating worldwide as its pharmaceutical industry — which was supposed to manufacture and export hundreds of millions of doses of the AstraZeneca vaccine — is keeping most supplies at home. The approval of the Sputnik vaccine, whose first doses are expected to be available for use in weeks, offers hope that India could speed up its inoculation drive.

But it is unclear at this stage whether India will be able to procure significant quantities of other vaccines, including the Pfizer, Moderna and Johnson & Johnson shots in use in the United States. Major Western nations have accumulated much of the global supply of those vaccines and manufacturers are struggling to meet the surging demand.

India will import millions of Sputnik doses from Russia and then begin manufacturing the vaccine domestically, officials said. More than 850 million doses will be made, with some intended for export, Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, a sovereign wealth fund that has financed the vaccine’s development, said in an interview with India’s NDTV channel.

“India is a vaccine-manufacturing hub and our strategic partner for production of Sputnik V,” Mr. Dmitriev said.

India has more than 13.6 million confirmed coronavirus cases, the second most after the United States, and 171,058 deaths, the fourth highest toll.

In other news around the world:

Japan has begun vaccinating 36 million people over age 65, the first time shots have been made available to the public during the country’s slow vaccine rollout. Officials said that 1,139 people nationwide had received doses on Monday, and that doses to cover all Japanese above the age threshold would reach municipal health facilities by the end of June. Although Japan has weathered the pandemic better than most countries, the pace of its vaccination effort, which until now had only covered 1.1 million frontline medical workers, has sparked public criticism and raised questions about readiness for the Tokyo Summer Olympics in just over three months.
Scotland on Tuesday moved forward plans to loosen its coronavirus lockdown, a day after the British government eased many restrictions in England. New rules beginning Friday will permit Scots to meet outdoors in groups of up to six adults from six households. The current rules restrict travel and set the maximum group size at four, from two households. Restrictions on shops and outdoor service in pubs, now relaxed in England, are scheduled to remain in Scotland until April 26.
Austria’s health minister resigned on Tuesday, citing personal health problems that he said have been exacerbated by the grueling job of helping lead the country’s response to the pandemic. “It feels like it has not been 15 months, but 15 years,” the minister, Rudolf Anschober, said in a statement. Mr. Anschober, 60, was appointed in January last year, as a Green party minister in a Conservative-led coalition, and has been one of the main faces of Austria’s coronavirus response. “In the worst health crisis in decades, the republic needs a health minister who is 100 percent fit. That is not currently me,” he said.
France will suspend all flights to and from Brazil, because of growing worries about the virus variant spreading there. “We see that the situation is getting worse” in Brazil, Prime Minister Jean Castex told lawmakers. The country previously permitted essential travel from Brazil, subject to testing and isolation requirements.
The World Health Organization on Monday evening called on governments to suspend the sale of live wild mammals in food markets to help prevent the emergence of new diseases. “Traditional markets, where live animals are held, slaughtered and dressed, pose a particular risk for pathogen transmission to workers and customers alike,” the agency said in a statement. Animals are the source of more than 70 percent of emerging infectious diseases in humans, it said. Early in the pandemic, Chinese officials suggested that the coronavirus outbreak might have started at a market. But W.H.O. experts said in a report last year that the role of animal markets in the story of the pandemic was still unclear.

Credit…Pool photo by Andreas Gora

BERLIN — Chancellor Angela Merkel’s government moved a step closer on Tuesday to securing the right to force restrictions on areas where the coronavirus is spreading rapidly, overriding state leaders reluctant to take action.

Ms. Merkel and her ministers approved a legislative proposal that would make it easier for the national government to enforce lockdowns and other limits on movement in regions where infection levels pass a set threshold. At current levels, it could lock down more than half of the country.

Under Germany’s decentralized leadership structures, the 16 state leaders have been meeting regularly with the chancellor to agree on nationwide coronavirus response policies. But with different regions experiencing different rates of infection, some state leaders have been reluctant to enforce the agreed limitations, leading to confusion and frustration among many Germans.

“I believe this amendment is as important as it is an urgent decision about how to proceed in the coronavirus pandemic,” the chancellor told reporters after meeting with her ministers.

Parliament still has to debate and approve the proposal, which would take the form of an amendment to the Protection Against Infection Act, and that process is expected to begin this week.

“We are in a situation where an emergency mechanism is necessary,” Ralph Brinkhaus, the leader of the Christian Democratic Union in Parliament, told reporters, before a meeting of his party lawmakers to discuss the amendment.

Under the proposed amendment, the federal government could force stores and cultural institutions to close and enforce limits on the number of people allowed to meet up in any region where infections surpass 100 new cases per 100,000 residents over a period of seven days.

More controversially, the law would also allow Ms. Merkel’s government to order that schools and day care centers close if the number of new infections reaches more than 200 per 100,000 inhabitants. Schools fall under the jurisdiction of the states, and local leaders are reluctant to relinquish that control.

Germany has registered more than three million infections and more than 78,700 deaths from Covid-19 since the virus began moving through the country last spring. It recorded 10,810 new cases of infection on Tuesday, bringing the national rate of infection to more than 140 per 100,000.

The number of patients in intensive care is expected to hit a record this month, as the country struggles to vaccinate enough people to get ahead of the spread of the highly contagious B.1.1.7 variant.

Credit…Andrew Testa for The New York Times

Britain has now offered vaccinations to everyone in the country age 50 and older, the government announced late on Monday, and is extending its program to another age group, the latest sign that the national rollout is continuing at pace.

On Tuesday, the authorities opened vaccinations to anyone 45 or older, yet the announcement came with a small hiccup: The website for the country’s National Health Service crashed for a short time after the younger cohort was invited to book appointments online.

The new step in the country’s vaccine rollout comes as the authorities eased several restrictions in England on Monday after months of stringent lockdowns, with pubs and restaurants opened for drinks and dining outside, and nonessential shops once again opening their doors.

Prime Minister Boris Johnson called the moment a “hugely significant milestone” and in a statement thanked those involved with the vaccine rollout. Mr. Johnson said the country was on track to offer all adults a vaccination by the end of July. More than 32 million people across Britain have received their first dose of one of the vaccines, according to government data.

The government said it had also already offered vaccinations to every health or care worker, and to everyone with a high-risk medical condition.

England has also began rolling out the Moderna vaccine, which will be offered as an alternative alongside the Pfizer BioNTech vaccine for those under 30, instead of AstraZeneca’s, which has been the mainstay of Britain’s program so far.

There have been concerns about a possible link between the AstraZeneca vaccine and very rare blood clots, and last week British regulators said an alternative should be provided for younger people. Potential infection still poses much greater risks than any vaccine side effect for all those over 30, they said, and could do so for younger people if cases surged again.

“The Moderna rollout marks another milestone in the vaccination program,” Stephen Powis, the medical director of the National Health Service, said in a statement. “We now have a third jab in our armory.”

The vaccination program, he added, “is our hope at the end of a year like no other” as he encouraged people to book their appointments.

But despite the hopeful vaccine news and the return to public life, the country is still battling new cases of the virus, and a cluster in two London neighborhoods of a worrisome variant first discovered in South Africa has prompted mass testing. Health workers have gone door to door to urge residents to get tested, even if they are not showing symptoms, as dozens of cases have emerged. Similar measures were carried out elsewhere in the city earlier this month.

Studies have shown that the variant contains a mutation that diminishes the vaccines’ effectiveness against it. Dr. Susan Hopkins, the chief medical adviser for the country’s test and trace campaign, said the cluster of cases in parts of South London was “significant.”

“It’s really important people in the local area play their part in stopping any further spread within the local community,” she said in a statement.

Credit…Victor J. Blue for The New York Times

More than a year after the coronavirus first swept through New York, the streets of Sunset Park in southern Brooklyn reflect the pandemic’s deep and unhealed wounds intertwined with signs of a neighborhood trying to edge back to life.

The sidewalks are filling with shoppers and vendors. More businesses are welcoming customers. But owners still struggle to pay rent and keep their enterprises afloat, while many workers laid off after the city locked down last year remain without jobs.

And while the rate of vaccination in New York has increased significantly, the coronavirus still percolates through this densely packed neighborhood. The ZIP code that includes Sunset Park had the highest rate of positive cases in Brooklyn in early April, nearly double the citywide rate. Some residents have expressed skepticism about the vaccines, spooked by false information circulated over TikTok and other social media.

Adding to the stress is a spate of hate crimes and violence against people of Asian descent in New York and around the country, fed in some cases by racist claims that Asian-Americans are responsible for spreading the virus.

About a third of the residents in Sunset Park have received at least one dose of the vaccine, roughly the same level as the city overall, according to the city health data. But local leaders say they want to push that number much higher.

Kuan Neng, 49, the Buddhist monk who founded Xi Fang Temple on Eighth Avenue, said that people had come to him in recent weeks to express concerns over vaccines.

“Why do I need to do that?” is a common refrain, according to Mr. Kuan, followed by: “I’m healthy now. The hard times are over, more or less.”

“Many people want to delay and see,” Mr. Kuan said, himself included.

Credit…Kate Warren for The New York Times

ArcLight Cinemas, a beloved chain of movie theaters based in Los Angeles, including the Cinerama Dome in Hollywood, will permanently close all its locations, Pacific Theaters announced on Monday, after the pandemic decimated the cinema business.

ArcLight’s locations in and around Hollywood have played host to many a movie premiere, in addition to being favorite spots for moviegoers seeking out blockbusters and prestige titles. They are operated by Pacific Theaters, which also manages a handful of theaters under the Pacific name, and are owned by Decurion.

“After shutting our doors more than a year ago, today we must share the difficult and sad news that Pacific will not be reopening its ArcLight Cinemas and Pacific Theaters locations,” the company said in a statement.

“This was not the outcome anyone wanted,” it added, “but despite a huge effort that exhausted all potential options, the company does not have a viable way forward.”

Between the Pacific and ArcLight brands, the company owned 16 theaters and more than 300 screens.

The movie theater business has been hit particularly hard by the pandemic. But in recent weeks, the majority of the country’s largest theater chains, including AMC and Regal Cinemas, have reopened in anticipation of the slate of Hollywood films that have been put back on the calendar, many after repeated delays because of pandemic restrictions. A touch of optimism is even in the air as a result of the Warner Bros. movie “Godzilla vs. Kong,” which has generated some $70 million in box office receipts since opening over Easter weekend.

Still, the industry’s trade organization, the National Association of Theater Owners, has long warned that the punishing closures were most likely to affect smaller regional players like ArcLight and Pacific. In March, the Alamo Drafthouse Cinema chain, which operates about 40 locations across the country, announced that it had filed for Chapter 11 bankruptcy protection but would keep most of its locations operational while it restructured.

That does not seem to be the case for Pacific Theaters, which, according to two people with knowledge of the matter, fired its entire staff on Monday.

The reaction to ArcLight’s closing around Hollywood has been emotional, including an outpouring on Twitter.

Devastating. Too many losses to process. It’s just too much… At some point when I’m less upset, I’ll tell you guys a funny story about my first time meeting Quentin Tarantino in the lobby of Hollywood Arclight. https://t.co/cFypJxEk4L

— Lulu Wang (@thumbelulu) April 13, 2021
Credit…Robert Ghement/EPA, via Shutterstock

Three people infected with the coronavirus died at a hospital in Bucharest on Monday evening after the oxygen supply stopped functioning, according to the authorities, the latest incident involving oxygen failure, which in many countries has driven up the virus death toll.

It was also another fatal setback for Romania’s ageing and overwhelmed health care system, which has suffered two fires in Covid-19 wards in recent months, killing at least 15 people.

Ventilators shut down at a mobile intensive care unit set up at the Victor Babes hospital in Bucharest after oxygen pressure reached too high a level, the country’s health authorities said in a statement, depriving patients of a vital supply. In addition to the three patients who died, five others were evacuated and moved to other facilities in the city.

Romania has recorded its highest rate of Covid-19 patients in intensive care units since the pandemic began, and on Sunday Prime Minister Florin Citu said that there were just six intensive care beds available across Romania, out of nearly 1,600.

Intensive care units in Hungary and Poland have also been at risk of being overwhelmed, as much of Eastern Europe has struggled to cope with a third wave of infections across the continent. Some Hungarian hospitals have sought medical students and volunteers to assist in Covid-19 wards, giving training to those without previous medical experience.

The mobile unit struck by the oxygen problem on Monday had only been in operation since Saturday, and it has epitomized long-running concerns over the country’s fragile health care system. In January, five patients died and a further 102 were evacuated from a different hospital in Bucharest after a fire broke out. In November, 10 patients hospitalized with the coronavirus died after a fire broke out in a hospital in the northeastern city of Piatra Neamt.

Romania’s spending on health care is among the lowest in the European Union, with just over five percent of gross domestic product allocated toward it, compared with 10 percent on average among other countries of the bloc.

More than 25,000 people who tested positive for the virus have died in Romania, and the authorities have closed schools and kindergartens throughout April as part of an extended Easter holiday.

The authorities have so far administered more than 3.5 million vaccine doses, in a population of about 19 million.

Credit…Hannah Yoon for The New York Times

Studies have found that women in academia have published fewer papers, led fewer clinical trials and received less recognition for their expertise during the pandemic.

Add to that the emotional upheaval of the pandemic, the protests over structural racism, worry about children’s mental health and education, and the lack of time to think or work, and an already unsustainable situation becomes unbearable.

Michelle Cardel, an obesity researcher at the University of Florida, worries that this confluence of factors could push some women to leave the sciences.

“My big fear is that we are going to have a secondary epidemic of loss, particularly of early career women in STEM,” she said.

Female scientists were struggling even before the pandemic. It was not unusual for them to hear that women were not as smart as men, or that a woman who was successful must have received a handout along the way, said Daniela Witten, a biostatistician at the University of Washington in Seattle.

Women in academia often have little recourse when confronted with discrimination. Their institutions sometimes lack the human resources structures common in the business world.

Compounding the frustration are outdated notions about how to help women in science. But social media has allowed women to share some of those concerns and find allies to organize and call out injustice when they see it, said Jessica Hamerman, an immunologist at the Benaroya Research Institute in Seattle.

In November, for example, a study on female scientists was published in the influential journal Nature Communications suggesting that having female mentors would hinder the career of young scientists and recommending that young women seek out male help.

The response was intense and unforgiving: Nearly 7,600 scientists signed a petition calling on the journal to retract the paper — which it did on Dec. 21.

The study arrived at a time when many female scientists were already worried about the pandemic’s effect on their careers, and already on edge and angry with a system that offered them little support.

Alisa Stephens found working from home to be a series of wearying challenges. Dr. Stephens is a biostatistician at the University of Pennsylvania, and carving out the time and mental space for that work with two young children at home was impossible.

Things eased once the family could safely bring in a nanny, but there was still little time for the deep thought Dr. Stephens had relied on each morning for her work.

Over time, she has adjusted her expectations of herself. “Maybe I’m at 80 percent as opposed to 100 percent,” she said, “but I can get things done at 80 percent to some extent.”

Tags Blood, Clotting, Europe, Johnson, Live, states, Updates, Vaccine

Business

Inflation Fee Rises because the Economic system Reawakens: Dwell Updates

Post author By
Post date April 13, 2021

Here’s what you need to know:

Consumer prices rose in March at their fastest pace in nearly nine years, an increase that may fuel inflation fears but that likely overstates the extent of the acceleration.

The Consumer Price Index, a closely watched inflation measure, rose 0.6 percent in March from February, the Labor Department said Tuesday. That was up from February’s 0.4 percent increase, and a bit faster than economists’ expectations.

Prices at the pump drove the increase: Gasoline prices rose 9.1 percent in March.

Core inflation, which ignores volatile food and energy prices, rose 0.3 percent, up from 0.1 percent in February.

Prices were up 2.6 percent from a year ago. But that measure — usually closely watched by economists — was skewed by the comparison to March 2020, when prices fell as consumers pulled back spending in the face of the pandemic.

Inflation rose substantially above 2 percent in March.

PERCENT CHANGE

IN CONSUMER

PRICE INDEX

FROM A YEAR AGO

However, some of the jump can be explained

through what’s known as base effects — prices fell

significantly last spring, so the increase now from the

year prior is larger, even if prices are not rising as

dramatically.

2021 Consumer price index

Inflation rose substantially above 2 percent in March.

PERCENT CHANGE IN CONSUMER

PRICE INDEX FROM A YEAR AGO

However, some of the jump can be explained through what’s known as base effects —

prices fell significantly last spring, so the increase now from the year prior is larger, even

if prices are not rising as dramatically.

2021 Consumer price index

Inflation rose substantially above 2 percent in March.

PERCENT CHANGE IN

CONSUMER PRICE INDEX

FROM A YEAR AGO

However, some of the jump can be explained through what’s known as base effects — prices fell significantly last spring, so the increase now from the year prior is larger, even if prices are not rising as dramatically.

2021 Consumer price index

Economists surveyed by Bloomberg expected an increase of 0.5 percent in overall C.P.I. from February, and 2.5 percent from March 2020.

Inflation data matters because it gives an up-to-date snapshot of how much it costs Americans to buy the goods and services they regularly consume. And because the Federal Reserve is charged in part with keeping increases in prices contained, the data can influence its decisions — and those affect financial markets.

Consumer inflation is measured by statisticians who take a bundle of goods and services Americans buy — everything from fresh fruit to rent — and aggregate it into a price index. The inflation rate that is reported each month shows how much that index changed.

Why the annual rate may overstate the situation.

For a quarter century, most measures of inflation have held at low levels. The C.P.I. moves around a bit because of volatile food and fuel prices, but a “core” index that strips out those factors has mostly increased at a year-over-year rate of less than 2 percent.

But the data reported for March reflects a drop in prices last year, as the country went into lockdown and airlines slashed ticket costs, clothing stores discounted sweaters, and hotels saw occupancy plunge.

That means inflation measures are lapping low readings, and as that low base falls out, it will cause the year-over-year percent changes to jump — a little bit in March, and then a lot in April.

To be sure, climbing prices could last for a while as businesses reopen, consumers spend down big pandemic savings and producers scramble to keep up with demand. Economists and Federal Reserve officials do not expect those increases to persist for more than a few months, but if they did, it would matter to consumers and investors alike.

Credit…Jim Watson/Agence France-Presse — Getty Images

Americans pay $17 billion in overdraft fees every year. PNC Bank announced on Tuesday its plans to help customers reduce that burden, which often falls on those who can least afford it.

The bank is introducing measures that it said would cut customers’ overdraft fees about 60 percent, and its own annual revenue by $125 million to $150 million, the DealBook newsletter reports. It comes as PNC prepares to close its deal with BBVA, which would make it the country’s fifth-largest retail bank.

Eight percent of account holders generate three-quarters of overdraft fees, according to the Consumer Financial Protection Bureau. Lawmakers have worried that banks obfuscate these fees as they become a reliable source of revenue. The fees are expected to come under scrutiny by the Biden administration, particularly if Rohit Chopra, a consumer advocate, is confirmed take over the C.F.P.B.

“Overdraft is an expensive fee they charge only on those people who run out of money that goes straight to short-term profits,” said Aaron Klein, a senior fellow at the Brookings Institution.

PNC is hoping to change that with a new feature in its app. “We weren’t doing the best we could do by our clients,” PNC’s chief executive, William Demchak, said in an interview. In the PNC app’s new “low cash mode,” when an account goes negative, the customer has at least 24 hours to fix it, including by reviewing pending payments and deciding which to prioritize.

For the largest banks to adopt a similar approach is a matter of technology — and desire. On a scale of which banks earn the most from the fees, overdraft fees generate $35.61 per account for JPMorgan Chase on the high end and $4.90 per account for Citi on the low end, according to Mr. Klein. PNC fell in the middle, with $14.96 per account.

PNC already assumed a short-term revenue drop into projections as part of its deal with BBVA, but over the long term, it expects the move will help it gain market share. “We’re in a consolidated industry where we want to be one of the consolidators,” Mr. Demchak said. “In the short run, if it costs us 100 million bucks or something — so what?”

Credit…Greg Baker/Agence France-Presse — Getty Images

China has ordered 34 of its most prominent internet companies to ensure their compliance with antimonopoly rules within the next month and to submit to official inspections thereafter — with “severe punishment” promised for any illegal practices that are uncovered.

The demand, which China’s market regulator announced on Tuesday, represents the government’s latest cracking of the whip in its campaign to tighten supervision over giant internet platforms.

For years, Beijing gave internet companies wide berth to grow rich and innovate. But in China, as in the West, concerns have been growing about the ways the companies use their clout to edge out rivals, their use and abuse of algorithms and big data and their acquisitions of smaller peers. In recent months, China has begun using both regulatory enforcement actions and public shaming to keep tech companies in check.

The country’s market regulator imposed a record $2.8 billion antitrust fine on Alibaba, the e-commerce titan, on Saturday. And on Monday, Alibaba’s fintech sister company, Ant Group, unveiled a revamp of its business in response to government demands.

Officials from China’s market watchdog, internet regulator and tax authority met with the companies on Tuesday, according to the government’s statement. At the meeting, the officials “affirmed the positive role of the platform economy” but also told the companies to “give full play to the cautionary example of the Alibaba case.”

The nearly three dozen companies included almost all of the top names in the Chinese internet industry, from established titans like Alibaba, Tencent and Baidu to newer powerhouses such as TikTok’s parent, ByteDance; the food delivery giant Meituan; the e-commerce site Pinduoduo; and the video platform Kuaishou.

At Tuesday’s meeting, the companies were told to strengthen their “sense of responsibility” and to “put the nation’s interests first,” the regulator’s statement said.

Credit…Wallace Woon/EPA, via Shutterstock

Grab — a ride-hailing company, bank and food delivery business all rolled into one — is set to make its debut in the largest offering by a Southeast Asian company on a U.S. stock exchange.

The company, which is based in Singapore, announced a deal on Tuesday with Altimeter Growth, a company listed for the sole purpose of buying a business. These special purpose acquisition vehicles, or SPACs, have snapped up companies over the past year at a rapid-fire pace. But this deal, which values Grab at roughly $39.6 billion, is expected to the largest such deal to date. Grab shares will trade on the Nasdaq stock exchange

The deal also includes an investment of more than $4 billion from a group that includes BlackRock, T. Rowe Price Associates and Temasek. Altimeter Capital Management, the investment firm backing the vehicle acquiring Grab, has agreed to hold certain shares in the company for at least three years.

Grab offers a “super app” that allows users to order food, pay bills and hail a car. It’s a model already popular in China, where WeChat offers a range of services, but is growing in Southeast Asia, particularly as the region builds its digital businesses. The pandemic helped propel the trend forward, with Southeast Asian consumers spending more than $10 billion online last year.

Grab acquired Uber’s Southeast Asia operations in 2018 and a digital banking license as part of a consortium in 2020. It has attracted investors including Booking Holdings, Hyundai, Microsoft, SoftBank and Toyota.

The company is going public as deal-making is flourishing in Southeast Asia. Bain, the consulting firm, said in 2018 it expected that the region would have had at least 10 unicorns, or start-ups valued at $1 billion or more, by 2024. One of those, the e-commerce company Sea, went public in the United States in 2017. Shares of the company have risen more than 400 percent over the past year, giving it a market capitalization of $125 billion.

“It gives us immense pride to represent Southeast Asia in the global public markets,” Grab’s chief executive, Anthony Tan, said in a statement. “This is a milestone in our journey to open up access for everyone to benefit from the digital economy.”

Credit…Oli Scarff/Agence France-Presse — Getty Images

Credit Suisse said it would be able to pay back additional money to investors in funds whose troubles were among a series of disasters that have battered the Swiss bank’s reputation and finances.

The bank said it would pay an additional $1.7 billion to investors in funds linked to Greensill Capital, which collapsed last month. The latest payment means that investors will get back close to half of their money, with the prospect for more payments as Credit Suisse liquidates the funds.

Credit Suisse’s asset management unit oversaw $10 billion in funds put together by Greensill based on financing it provided to companies, many of which had low credit ratings or were not rated at all.

“There is potential for recovery in these cases although clearly there is a considerable degree of uncertainty as to the amounts that ultimately will be distributed to investors,” Credit Suisse said in a statement.

The more money that Credit Suisse can salvage from the funds, the better its chances of repairing its reputation and its ability to attract new customers. The bank has been in crisis following a series of debacles, including its disclosure last week that it will lose almost $5 billion because of money it lent to Archegos Capital Management, which crumbled this month after a high-risk stock market play went sour.

Including the $1.7 billion payment announced Tuesday, Credit Suisse has paid $4.8 billion to investors in the Greensill funds. The bank said it would take legal action to recover more money and “is engaging directly with potentially delinquent obligors and other creditors.” Some losses may be covered by insurance.

“We remain acutely aware of the uncertainty that the wind-down process creates for those of our clients who are invested in the funds,” Credit Suisse said. “We are doing everything that we can to provide them with clarity, to work through issues as they arise and, ultimately, to return cash to them.”

Credit…Jeenah Moon for The New York Times

Tech workers at The New York Times announced on Tuesday that they had formed a union and would ask the company to recognize it.

The group of more than 650 employees includes software engineers, designers, data analysts and product managers. It will be represented by the NewsGuild of New York. NewsGuild membership already includes more than 1,300 newsroom workers and business staff members at The Times, as well as workers at other media outlets.

As part of the Times Tech Guild, the tech workers would be in a separate bargaining unit from other Times employees represented by the NewsGuild.

In recent years, The Times has ramped up its hiring of tech workers as part of its strategy to reach 10 million paid digital subscribers by 2025. In 2020, digital-only subscriptions neared seven million and became the company’s largest revenue stream.

Kathy Zhang, a senior analytics manager and a member of the organizing committee, said in an interview that The Times felt like “an emerging company” in some ways, although it is a 170-year-old institution.

“There’s a lot of stuff we’re trying out,” she said. “There’s a lot of starting and stopping of different projects. It’s been really exciting, but it’s also been pretty exhausting.”

The tech workers were concerned about pay equity, health care costs, job security and career advancement, Ms. Zhang added. The union also hoped to improve diversity and inclusion in the department.

A spokeswoman for The New York Times Company said in a statement that the company had received the request for voluntary recognition from the union on Tuesday morning.

“At The New York Times, we have a long history of positive and productive relationships with unions, and we respect the right of all employees to decide whether or not joining a union is right for them,” the spokeswoman said. “We will take time to review this request and discuss it soon with representatives of the NewsGuild.”

The organizing of The Times’s tech workers came months after more than 400 Google engineers and other workers formed a union, a rarity in Silicon Valley. An organizing drive at an Amazon warehouse in Alabama was voted down last week.

Media companies have had a surge in such efforts. Workers at publications like BuzzFeed News, Vice, The New Yorker, Slate and Vox Media have all formed unions in recent years.

Stock trading on Wall Street was quiet for a second day on Tuesday, even as investors worried about a new setback in the fight to control the coronavirus and also considered updated inflation data.

The S&P 500 was essentially unchanged in early trading, after recovering from an early swoon that came in response to federal health agencies recommending an immediate pause to the use of the Johnson & Johnson’s single-dose coronavirus vaccine.

The Food and Drug Administration and Centers for Disease Control and Prevention said on Tuesday that six women who received the vaccine had developed rare blood clots. “We are recommending a pause in the use of this vaccine out of an abundance of caution,” the agencies said.

Shares of Johnson & Johnson fell about 3 percent in early trading, weighing on the Dow Jones industrial average.

News of the vaccine setback had sent stock futures lower earlier Tuesday, but the market regained its footing as investors seemed to read the latest consumer price inflation report as less worrisome than they might have expected.

Investors have been focused on rising prices lately, worried that fast economic growth might fuel a jump that prompts the Federal Reserve to raise interest rates or otherwise remove its support for the economy.

Consumer prices did increase in March at their fastest pace in nearly nine years, and a rate slightly higher than economists had expected. But the increase wasn’t enough to spook investors. Government bond yields, which have jumped sharply this year over concerns about inflation, held steady after the report.

The Stoxx Europe 600 reversed earlier gains and was little changed by early afternoon in Europe.

Oil prices rose. Futures of West Texas Intermediate, the U.S. crude benchmark, gained 1 percent to just above $60 a barrel.

The stock market’s rally during the pandemic has been nothing short of amazing. But rising interest rates are raising the question of how long this bull market can last.

In the 12 months through March, the average general stock mutual fund tracked by Morningstar returned nearly 66 percent — a remarkable rebound after a three-month loss of nearly 22 percent at the start of last year.

The turnaround came after the Federal Reserve stepped in with support for financial markets and the economy, fueling much of the stock market’s exuberance with low interest rates.

But with the economy taking off, rates have begun to rise. At the start of a new quarter, it is a good moment to ask, how long can these strangely prosperous times last?

My crystal ball is no clearer now than it has ever been, alas, and I can’t time the market’s movements any better than anyone else. But this certainly is a good time to assess whether you are well positioned for a possible downward shift.

As always, the best approach for long-term investors is to set up a portfolio with a reasonable, diversified asset allocation of stocks and bonds and then live with it, come what may.

Our quarterly report on investing is intended to help. If you haven’t been an investor before, we’ve included tips on how to get started. Here you will find broad coverage of recent trends, guidance for the future and reflections on personal finance in a challenging era.

An Uneasy Exuberance in the Stock Market

It’s been a long, fine run for the stock market, but a great deal of the upswing has depended on low interest rates, and in the bond market rates have been rising. Investment strategists are taking a wide array of approaches to deal with this difficult problem. For now, the bull market rides on.

Finding Safety Through Global Diversity

Bonds provide ballast in diversified portfolios, damping the swings of the stock market and sometimes providing solid returns. Because bond yields have been rising — and yields and prices move in opposite directions — bond returns have been suffering lately. But adding a diversified selection of international bonds to domestic holdings can reduce the risk in the bond side of your investments.

It’s Not Really All That Complicated

Yes, the markets and the economy are complicated. That often puts people off, and stops them from taking action that can help them and their families immeasurably: investing. But investing need not be complicated. A succinct article gives pointers on how to get started, and on how to navigate the markets for the long haul.

NFTs Are Great, but the Real Money Is in Dollars

After a piece of virtual art known as a nonfungible token — an NFT — sold at auction for $70 million recently, NFTs have suddenly became an asset that you can invest in. Our columnist prefers real dollars.

Fossil Fuel Prices Recovered, but for How Long?

Short-term demand for oil and gas is rising, but if climate change is to be reversed, consumption of fossil fuels will have to diminish. This leaves investors in a tough spot.

Credit…Kate Warren for The New York Times

“This was not the outcome anyone wanted,” it added, “but despite a huge effort that exhausted all potential options, the company does not have a viable way forward.”

Between the Pacific and ArcLight brands, the company owned 16 theaters and more than 300 screens.

That does not seem to be the case for Pacific Theaters, which, according to two people with knowledge of the matter, fired its entire staff on Monday.

The reaction to ArcLight’s closing around Hollywood has been emotional, including an outpouring on Twitter.

— Lulu Wang (@thumbelulu) April 13, 2021

Tags Economy, inflation, Live, Rate, Reawakens, rises, Updates

World News

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

Post author By
Post date April 13, 2021

People crowding for outdoor dining at a restaurant in Ann Arbor, Mich., last week.

Here’s what you need to know:

Credit…Emily Elconin/Reuters

The Biden administration and Michigan’s Democratic governor are locked in an increasingly tense standoff over the state’s worst-in-the-nation coronavirus outbreak, with a top federal health official on Monday urging the governor to lock down her state.

As the governor, Gretchen Whitmer, publicly called again for a surge of vaccine supply, the director of the Centers for Disease Control and Prevention said at a White House news conference that securing extra doses was not the most immediate or practical solution to the outbreak. She said that Michigan — whose metro areas include 16 of the 17 worst outbreaks in the nation — needed to enact shutdown measures to stamp out the crush of infections.

“The answer is not necessarily to give vaccine,” said the director, Dr. Rochelle Walensky. “The answer to that is to really close things down, to go back to our basics, to go back to where we were last spring, last summer, and to shut things down.”

Michigan’s outbreak — driven by a highly infectious virus variant, loosened restrictions, travel, youth sporting events and uneven compliance with the remaining rules — is by far the worst in the country. The state is averaging seven times as many cases each day as it was in late February, and hospitalizations have roughly doubled in the past two weeks. Nonetheless, Ms. Whitmer has stopped well short of the far-reaching shutdowns that made her a political lightning rod last summer, with armed protesters storming the Statehouse to demand an end to coronavirus restrictions.

The Biden administration, however, has held fast to distributing vaccines by state population, not by triage, shying away from anything that could look like inequitable distribution or political favoritism at a time when vaccine supply remains tight in many places.

“It’s important to understand how we’ve approached vaccine distribution from the beginning: It’s done with equity in mind. It’s done with the adult population in mind,” the White House press secretary, Jen Psaki, said Monday. “We don’t pick by our friends. We don’t pick through a political prism.”

Michigan’s renewed fight with the virus was a warning for other states seeing new increases in cases and could have far-reaching consequences. Reports of new cases have increased by 45 percent in Illinois over the past two weeks, with especially high infection rates around Peoria. And as new, more contagious variants spread, caseloads are rising in Minnesota, Pennsylvania and several other states.

In an interview on Sunday with CBS’s “60 Minutes,” the Federal Reserve chair, Jerome H. Powell, said the American economy had “brightened substantially” as more people have been vaccinated and businesses have reopened. But he cautioned that “there really are risks out there,” specifically coronavirus flare-ups, if Americans return to normal life too quickly.

“The principal risk to our economy right now really is that the disease would spread again more quickly,” Mr. Powell said.

In recent days, Ms. Whitmer, an ally of President Biden’s, has diverged repeatedly from the president, asking him in a private call last week for extra vaccines, and, after being turned down, continuing to press her case in public that vaccination is the answer.

Bobby Leddy, a spokesman for Ms. Whitmer, said the state was suffering not from a failure of policymaking, but from the new variants that are more contagious and from Michiganders who are not complying with the governor’s orders. “Which is why it’s important for us to ramp up vaccinations as quickly as possible,” he said.

Ms. Whitmer was joined in the call for more vaccines by Representatives Fred Upton, a Republican, and Debbie Dingell, a Democrat, who sent a letter last week to Mr. Biden pleading for extra doses for their state.

Ms. Whitmer, who called last week for voluntary pauses to indoor dining, youth sports and in-person high school, said on Monday that she planned to extend existing restrictions on in-person officework for six more months. She has also appealed to Michigan residents to take more “personal responsibility,” language that echoed Republican governors and contrasted sharply with her own response to earlier surges.

United States ›	United StatesOn Apr. 11	14-day change
New cases	48,271	+11%
New deaths	300	–26%

World ›	WorldOn Apr. 11	14-day change
New cases	711,671	+21%
New deaths	8,750	+23%

U.S. vaccinations ›

Credit…Anna Watts for The New York Times

Starting later this month, about 51,000 New York City public school students who have been learning remotely for the past year will be able to return to classrooms, Mayor Bill de Blasio announced on Monday, including middle and high school students.

The announcement marks one of the most significant changes prompted by last month’s guidance from the Centers for Disease Control and Prevention that schools could reduce social distancing between students in classrooms to three feet from six. For now, only elementary schools will switch to three feet.

Students in all grades who signed up for in-person classes over the last several weeks will be able to return starting April 26, Mr. de Blasio said. Previously, the city had committed only to bringing back elementary school students who wanted to switch to in-person classes.

Though a large number of families are eager for their children to return to classrooms, the families of about 650,000 of the city’s roughly 1 million students have decided to have them continue learning from home through the end of the school year in June. The families have made that choice even though the city schools have had very low transmission, and tens of thousands of educators are fully vaccinated. Last week, the city also eased a school closure rule that had led to frequent temporary closures, which frustrated many parents.

It is difficult to generalize why hundreds of thousands of families have kept their children home. Some parents may prefer to keep a remote schedule for the next few months for the sake of consistency. Other families have expressed concern about relatively high test positivity rates in New York City’s wider population. Some parents of high school students in particular are concerned that their students would be learning from their laptops even in classrooms.

Mr. de Blasio has said he expects most schools to offer full-time in-person instruction for all or most students for the final months of the school year. The mayor said the school system would be operating at full capacity come September, with all students able to attend school full-time.

Credit…Carlo Allegri/Reuters

New York City health officials said on Monday that infections with the coronavirus variant that first emerged in Britain, B.1.1.7, have been increasing in every borough, but slightly more in southern Brooklyn, eastern Queens, and Staten Island. Genetic analysis shows that B.1.1.7 now accounts for about 30 percent of cases sequenced citywide.

The data, which was included in new maps and a report released by the city, represents the first time officials have offered a ZIP-code level look at how worrisome variants have been spreading in New York, overtaking original versions of virus and clustering in some parts of the city more than others.

The report and maps, which were published Monday afternoon on the city’s health department website, also show that a variant first emerged in New York City, B.1.526, has been increasing at even a faster clip, and now represents some 45 percent of cases genetically sequenced in the city. The maps released Monday show that while B.1.526 is found in all five boroughs, it is slightly more common in the Bronx and parts of Queens.

Overall, more than 70 percent of genetically sequenced coronavirus cases now circulating in the city represent worrisome variants. The data, which spans January 1 to March 27, represents less than 5 percent of all positive test results in the city, as sequencing capabilities remain limited. As a result, it only provides a glimpse of the full picture of how the variants are impacting each community.

New York City has remained at a high plateau of coronavirus cases since February, with some 3,000 to 4,000 new cases reported per day, according to city data. The spread of these variants is likely a key reason that cases have not fallen more even as vaccinations rise, the city’s health department said in the report.

Hospitalizations have been falling, but very gradually, as the most vulnerable get vaccinated. Deaths have also been declining, but at a slower than desired pace, and have been averaging about 50 per day.

The United States has seen an exponential rise of B.1.1.7, which is now the most dominant variant across the country, according to the Centers for Disease Control and Prevention. That variant is about 60 percent more contagious and 67 percent more deadly than the original form of the coronavirus, according to the most recent estimates.

It has slammed Europe and helped fuel the worst-in-the-nation outbreak in Michigan. Until recently, the variant’s rise in the United States was somewhat camouflaged by falling infection rates overall, leading some political leaders to relax restrictions on indoor dining, social distancing and other measures. The C.D.C.’s efforts to track down the variants have greatly improved in recent weeks and will continue to grow, though Britain, which has a more centralized health care system, began a highly promoted sequencing program last year that allowed it to track the spread of the B.1.1.7 variant.

Vaccines do appear to be effective against the variant.

Less is known about the B.1.526 variant, which was first documented by researchers in the Upper Manhattan area of New York City last November and has since spread widely through the city and beyond. City officials have said that the variant may be more transmissible, and is outpacing even B.1.1.7 in some neighborhoods.

But it is still unknown whether the variant has an impact on disease severity, re-infection, or vaccine effectiveness. The city said it has no evidence that it does, but that it is studying those possibilities.

The city also warned on Monday that the P.1 variant, which was first identified in Brazil, is increasing its presence, though its incidence as a percentage of total cases remains very low.

The city did not release data or a map showing where P.1 cases have been identified. It has previously said that the variant accounted for 1.3 percent of sequenced samples as of late March — just 24 total cases of P.1. The variant maps released on Monday also excluded all ZIP codes where the total number of sequenced cases was fewer than three.

P.1 is also more transmissible than original versions of the virus, and there is some evidence of immunity evasion among both people who previously had Covid-19 and fully vaccinated people. It is spreading widely in South America and has appeared in many states.

The city’s report did not mention the B.1.351 variant, first found in South Africa, which can partially dodge the body’s immune system response. The city had previously reported sequencing 6 total cases of B.1.351.

Credit…Andrew Testa for The New York Times

On Monday, Britain’s lockdown — one of the longest and most stringent in the world — finally began drawing to an end.

For people across Europe, struggling with yet another wave of the pandemic and demoralized by a vaccine rollout that, outside of Britain, has been deeply troubled, this is hardly a time to rejoice.

And Britons — who have lost more than 150,000 people to the pandemic — know better than anyone that they are facing a wily adversary, a shape-shifter of a virus that spins off variants that can threaten medical advances with a few mutations.

But just past the stroke of midnight on Monday, a few select establishments in England served their first drinks since being forced to close in December and January, and more than a year after the first of three national lockdowns was imposed to limit the spread of the virus.

Later in the morning, thousands of gyms, salons and retail stores opened their doors for the first time in months, bringing a frisson of life to streets long frozen in a state of suspended animation. Friends reunited, and families shared a meal at outdoor cafes for the first time in months.

The weather may have been chilly — there were even some snow flurries — and pubs were limited to outdoor service. But the moment was embraced with an enthusiasm born of more than a year of on-and-off deprivation and uncertainty, one in which a once-unimaginable level of government decree became a way of life.

Prime Minister Boris Johnson called it “a major step forward in our road map to freedom.”

Monday was the start of a phased reopening that is scheduled to culminate on June 21, when the government says it hopes to lift almost all restrictions in England. Scotland, Wales and Northern Ireland are following separate but similar timetables, which means that some of the restrictions eased on Monday in England will remain in place a while longer in those places.

Lockdowns of one form or another have become so commonplace around the world that it can be hard to recall a time when they did not exist. The word began entering the popular lexicon in the weeks and months after the virus first emerged in China and the authorities there moved aggressively to restrict the movement of its citizens.

While no country matched China’s draconian measures, liberal democracies have been engaged in a yearlong effort to balance economic, political and public health concerns. Last spring, that meant about four billion people — half of humanity — living under some form of stay-at-home order.

Britain, which held out longer than many of its European neighbors, entered its first national lockdown on March 26, 2020.

At the height of the epidemic in January, Britain was averaging almost 60,000 new coronavirus infections and more than 1,200 Covid-19 deaths each day. In the past week, the daily averages were about 2,500 cases and 36 fatalities.

On Monday, as Britons flocked to stores and restaurants, there was widespread hope that after so many false dawns, there will be no going back.

Credit…Spencer Platt/Getty Images

New York will no longer require international travelers arriving in the state to quarantine though it continues to recommend they do so, according to new guidance released by the Health Department.

The change was intended to bring the state in line with travel recommendations issued earlier this month by the Centers for Disease Control and Prevention.

In that guidance for international and domestic travel, the C.D.C. said that people fully vaccinated against the coronavirus could travel safely “at low risk to themselves” but should still follow health precautions in public such as wearing masks. Federal health officials also said that they preferred all people avoid travel while the threat of the virus remained so high in the United States. The C.D.C. also cited a lack of vaccine coverage in other countries, and concern about the potential introduction and spread of new variants of the virus that are more prevalent overseas.

The C.D.C. requires all international travelers arriving in the United States to show proof of a recent negative test result before boarding their flights. When fully vaccinated Americans travel abroad, they only need to get a coronavirus test or quarantine if the country they are going to requires it. However, the guidance says they must have a negative coronavirus test before boarding a flight back to the United States, and they should get tested again three to five days after their return.

New York State health officials said in their guidance, released Saturday, that they still recommend all international travelers get tested three to five days after arriving in the state.

They also suggested that unvaccinated travelers should self-quarantine for as many as 10 days and avoid people at risk of serious illness from the virus for two weeks.

The new international guidance came after the state also ended its requirement that domestic travelers to New York quarantine upon arrival. At the time, Gov. Andrew M. Cuomo traced the decision to the pace of vaccinations and a decline in virus figures across the state, though the state was adding new cases at a higher rate than the country as a whole.

As of Sunday, the state’s average daily positivity test rate over the previous week was at 3.27 percent. Virus-related hospitalizations were at 4,083, their lowest number since Dec. 2, according to Mr. Cuomo’s office.

According to a New York Times database, New York State is adding new virus cases at the fifth-highest rate in the country. As of Sunday, the state was reporting an average of 37 new virus cases a day for every 100,000 residents over the last week. The nation as a whole was averaging 21 new cases per 100,000 people.

Credit…Emily Matthews/Pittsburgh Post-Gazette, via Associated Press

The state of Pennsylvania and the city of Los Angeles are accelerating plans for wider Covid-19 vaccine eligibility this week, as the United States approaches universal eligibility for adults.

Most states and U.S. territories have already expanded access to include anyone over 16. Others, including Massachusetts, New Jersey, Oregon and Washington State, have plans in place for universal adult access to start in the next few days. All states are expected to get there by Monday, a deadline set by President Biden.

Some states have local variations in eligibility, including Illinois, where Chicago did not join a statewide expansion that began Monday.

California as a whole has set Thursday as its date, but Mayor Eric Garcetti of Los Angeles said on Sunday that all residents age 16 or older in his city, the nation’s second largest, would become eligible two days earlier. In Pennsylvania, Gov. Tom Wolf said on Monday that all adults there would be eligible on Tuesday, six days earlier than previously planned.

“We need to maintain acceleration of the vaccine rollout, especially as case counts and hospitalization rates have increased,” Mr. Wolf said in a statement.

Expanded eligibility has not always brought immediate access. Demand for vaccination continues to outstrip supply in much of the nation, with people scrambling to book scarce appointments as they become available. And supplies of Johnson & Johnson’s one-dose vaccine will be extremely limited until federal regulators approve production at a Baltimore manufacturing plant with a pattern of quality-control lapses, the White House’s pandemic response coordinator said on Friday.

“We urge patience as we continue to ramp up our operations, obtain more doses, and enter this new phase of our campaign to end the pandemic,” Mr. Garcetti said.

More than 120 million people — or more than one-third of the U.S. population — have now received at least one dose of a Covid-19 vaccine, according to the Centers for Disease Control and Prevention. The nation is administering about 3.2 million doses a day on average.

Two of the three vaccines authorized for use in the U.S. — those made by Moderna and Johnson & Johnson — are authorized for use in adults. The third, from Pfizer-BioNTech, is authorized for anyone 16 or older, and the company is seeking to expand that range to include youths 12 to 15. No vaccine has yet been authorized for use in younger children.

Global Roundup

Credit…Karma Sonam/Associated Press

Even as India hit a record for daily coronavirus infections, and its total caseload rose to second in the world behind the United States, the images that dominated Indian news media on Monday were of a crowded religious festival along the banks of the Ganges River.

The dissonance was a clear manifestation of the confusing messages sent by the authorities just as India’s coronavirus epidemic is spiraling, with a daily high of 168,000 cases and 900 deaths reported on Monday.

Yet millions of devotees have thronged the holy city of Haridwar for the monthlong Kumbh Mela, or pitcher festival, when Hindu pilgrims seek absolution by bathing in the Ganges. Officials have said that about one million people will participate every day, and as many as five million during the most auspicious days, all crowded into a narrow stretch along the river and searching for the holiest spot to take a dip.

Already, fears are running high that one of the most sacred pilgrimages in Hinduism could turn into a superspreading event.

Dr. S. K. Jha, a local health officer, said that an average of about 250 new cases had been registered each day recently. Experts have warned that many more infections are going unrecorded, and that devotees could unwittingly carry the virus with them as they return to their homes across the country.

India is in the grip of the world’s fastest growing outbreak, with more and more jurisdictions going back into varying stages of lockdown. Infections are spreading particularly fast in Mumbai, the country’s financial hub, and the surrounding state of Maharashtra, where the government has announced a partial weekday lockdown and near-total closure over the weekends.

The situation is also worsening in the capital, New Delhi, which reported more than 10,000 new cases on Sunday, surpassing the previous daily high of nearly 8,500. The state government has imposed a curfew and ordered restaurants and public transport systems to run at half capacity. Arvind Kejriwal, Delhi’s top official, has said more restrictions may follow.

Hospitals in several states are reporting shortages of oxygen, ventilators and coronavirus testing kits, and some are also running low on remdesivir, a drug used in serious Covid-19 cases. India has halted the export of remdesivir until the situation improves.

India is also trying to ramp up its vaccination drive, with about three million people being inoculated daily and 104 million doses administered so far. But with many vaccination centers nationwide expressing concern over possible shortages, India’s large pharmaceutical industry has sharply reduced its exports of the AstraZeneca vaccine in order to keep more doses at home, creating serious challenges for other countries that had been relying on those shipments.

On Monday, Indian experts recommended the use of Russia’s Sputnik-V coronavirus vaccine, which would become the third available in the country if approved by the authorities.

After months of lower-than-expected infections and deaths from the virus, critics say Indian officials have sent dissonant messages about the seriousness of the crisis. Police officers are enforcing curfew and mask rules, sometimes resorting to beatings captured on videos shared across social media. But senior political leaders, including the prime minister, Narendra Modi, have been holding large rallies for local elections.

Mr. Modi’s Hindu nationalist government has also allowed the religious festival to proceed — in contrast to what happened last spring, at the start of the pandemic, when India’s health ministry blamed an Islamic seminary for fanning a far smaller outbreak. Critics say rhetoric from members of Mr. Modi’s party contributed to a spate of attacks against Muslims, a minority of about 200 million people in a Hindu-dominated country of 1.3 billion.

In other news around the world:

Bangladesh has announced a weeklong lockdown, closing offices, factories and transport services starting Wednesday, and banning domestic and international flights. The country is facing its severest coronavirus outbreak so far, averaging nearly 7,000 daily new infections, according to a New York Times database, as the virus sweeps across South Asia.
In France, all people over 55 are eligible to receive the AstraZeneca and Johnson & Johnson vaccines starting Monday, as the authorities try to ramp up their vaccination campaign after a sluggish start. Health Minister Olivier Véran said on Sunday that France would also extend the period between the first and second shots of the Pfizer and Moderna vaccines to six weeks from four, echoing Britain’s strategy. Over 14 million people have received a first injection.
High schools reopened in Greece on Monday after five months closed. The reopening only applies to senior high-school classes, and pupils and teachers will have to take a virus test twice a week before returning to classrooms. Thousands did so at home on Sunday, with just 613 positives out of some 380,000, a rate of 0.16 percent, according to state television. Stores in the country reopened last week.
The world’s wealthy nations should commit $30 billion to a global mass vaccination campaign, Gordon Brown, a former prime minister of Britain, said on Monday. Lower-income countries’ inoculation efforts are trailing far behind richer nations’ and the divide has led to allegations of a “vaccine apartheid,” Mr. Brown warned in an op-ed for The Guardian. “The costs may still be in billions, but the benefit will be in trillions,” he wrote.

Anna Schaverien, Constant Méheut and Niki Kitsantonis contributed reporting.

Credit…James Estrin/The New York Times

Schools and colleges across New York State will be allowed to hold graduation ceremonies for students this spring, with restrictions depending on type of venue or its capacity, Gov. Andrew M. Cuomo said on Monday.

Outdoor ceremonies with more than 500 people, for example, must not exceed 20 percent of the venue’s capacity, and attendees must have proof of vaccination or a recent negative coronavirus test result. Indoor ceremonies with fewer than 100 people cannot exceed 50 percent of the venue’s capacity, though the vaccination or test requirement in that case will be optional, Mr. Cuomo said.

After the pandemic hit last spring, officials in New York and across the nation warned that graduation ceremonies could fuel the virus’s spread, and many such events were canceled.

Colleges and universities began experiencing major outbreaks after students returned in the fall, and more than 120,000 cases have been linked to U.S. colleges and universities since Jan. 1. As they’ve been shuttled back and forth to campuses, depending on whether they’ve been open or closed, scientists have feared students were spreading the virus.

This spring, vaccinations have tracked upward, but dangerous virus variants are spreading and case counts remain high in many places. That has left colleges struggling to find a consensus on how best to mark commencement.

Mr. Cuomo said that New York State’s new rules on graduation will take effect on May 1. But he said officials are still encouraging drive-through or virtual graduation ceremonies as safer options, and he warned that the pandemic was far from over.

Credit…Regeneron, via Associated Press

A monoclonal antibody cocktail developed by the drug maker Regeneron offered strong protection against Covid-19 when given to people living with someone infected with the coronavirus, according to clinical trial results announced on Monday. The drug, if authorized, could offer another line of defense against the disease for people who are not protected by vaccination.

The findings are the latest evidence that such lab-made drugs not only prevent the worst outcomes of the disease when given early enough, but also help prevent people from getting sick in the first place.

Using the cumbersome drugs preventively on a large scale won’t be necessary: Vaccines are sufficient for the vast majority of people and are increasingly available.

Still, antibody drugs like Regeneron’s could give doctors a new way to protect high-risk people who haven’t been inoculated or who may not respond well to vaccination, such as those taking drugs that weaken their immune system. That could be an important tool as rising coronavirus cases and dangerous virus variants threaten to outpace vaccinations.

Regeneron said in a news release that it would ask the Food and Drug Administration to expand the drug’s emergency authorization — currently for high-risk people who already have Covid but are not hospitalized — to allow it to be given for preventive purposes in “appropriate populations.”

There’s “a very substantial number of people” in the United States and globally who could be a good fit to receive these drugs for preventive purposes, said Dr. Myron Cohen, a University of North Carolina researcher who leads monoclonal antibody efforts for the Covid Prevention Network, a National Institutes of Health-sponsored initiative that helped to oversee the trial.

“Not everyone’s going to take a vaccine, no matter what we do, and not everyone’s going to respond to a vaccine,” Dr. Cohen said.

Regeneron’s new data come from a clinical trial that enrolled more than 1,500 people who lived in the same household as someone who had tested positive for the virus within four days. Those who got an injection of Regeneron’s drug were 81 percent less likely to get sick with Covid compared to volunteers who got a placebo.

Dr. Rajesh Gandhi, an infectious diseases physician at Massachusetts General Hospital who was an investigator for the study, said the data were “promising” for people who have not yet been vaccinated. (An earlier version of this item incorrectly said that Dr. Gandhi was not involved in the study.)

Even so, he said, the study did not enroll the type of patients that would be needed to assess whether the drug should be used preventively for immunocompromised patients. “I would say we don’t yet know that,” Dr. Gandhi said.

Regeneron’s cocktail, a combination of two drugs designed to mimic the antibodies generated naturally when the immune system fends off the virus, got a publicity boost last fall when it was given to President Donald J. Trump after he got sick with Covid.

The treatment received emergency authorization in November. Doctors are using it, as well as another antibody cocktail from Eli Lilly, for high-risk Covid patients.

But use of the antibody drugs has been slowed not by a shortage of doses, but by other challenges, though access has improved in recent months. Many patients don’t know to ask for the drugs or where to find them.

Many hospitals and clinics have not made the treatments a priority because they have been time-consuming and difficult to administer, in large part because they must be given via intravenous infusion. Regeneron plans to ask the F.D.A. to allow its drug to be given via an injection, as it was administered in the results of the study announced on Monday, which would allow it to be given more quickly and easily.

Credit…Mohammed Abed/Agence France-Presse — Getty Images

Severe and critical cases of Covid-19 have hit record highs this week in the blockaded Gaza Strip, a development that health experts attributed to the proliferation of the highly transmissible coronavirus variant first identified in Britain.

Medical officials in the Hamas-run Health Ministry estimated that the variant now accounts for four out of five new cases in Gaza. They detected it in the densely populated territory for the first time in late March.

“We are in a dangerous place,” said Dr. Majdi Dhair, the director of the ministry’s preventive medicine department. “We expect more people to become infected and more people to enter hospitals. We ask God to pull us out of this situation.”

Over the past three weeks, severe cases — typically when a patient’s oxygen level falls to 94 percent or less — have risen to 219 from 58, according to ministry data. Critical cases, which can involve respiratory failure, septic shock or multiple organ dysfunction, jumped to 58 from 17.

On top of that, the ministry said on Monday that about 38 percent of the 4,700 virus test results it had received over the preceding 24 hours were positive — one of the highest rates in the past month.

Dr. Dhair said he believed that hospitals in Gaza were prepared to handle more severe and critical cases, but that they would probably have to postpone some surgical procedures to free up intensive care beds.

Devastated by years of conflict, Gaza’s hospitals were already dealing with challenging circumstances before the first cases of community transmission of the virus were discovered in the territory in August.

Gaza’s population is overwhelmingly young, and less than 1 percent of residents have been vaccinated so far.

The sharp rise in severe and critical cases has come just before the Muslim holy month of Ramadan, which begins on Tuesday. Traditionally during Ramadan, many Palestinians in Gaza would gather for large meals after sunset, pack streets in popular commercial districts and crowd into mosques for special evening prayers. But a number of those traditions will be prohibited this year because of the pandemic, the authorities said.

Credit…Neil Hall/EPA, via Shutterstock

An update to the contact tracing app used in England and Wales has been blocked from release by Apple and Google because of privacy concerns, renewing a feud between the British government and the two tech giants about how smartphones can be used to track Covid-19 cases.

In an attempt to trace possible infections, the update to the app would have allowed a person who tests positive for the virus to upload a list of restaurants, shops and other venues they recently visited, data that would be used by health officials for contact tracing. But collecting such location information violates the terms of service that Google and Apple forced governments to agree to in exchange for making contact tracing apps available on their app stores.

The dispute, first reported by the BBC, highlights the supernational role that Apple and Google have played responding to the virus. The companies, which control the software of nearly every smartphone in the world, have forced governments to design contact tracing apps to their privacy specifications, or risk not having the tracking apps made available to the public. The gatekeeper role has frustrated policymakers in Britain, France and elsewhere, who have argued those public health decisions are for governments, not private companies to make.

The release of the app update was to coincide with England’s relaxation of lockdown rules. On Monday, the country began loosening months of Covid-related restrictions, allowing nonessential shops to reopen, and pubs and restaurants to serve customers outdoors.

An older version of the contact tracing app continues to work, but the data is stored on a person’s device, rather than being kept in a centralized database.

To use the app, visitors to a store or restaurant take a photo of a poster with a QR code displayed in the business, and the software keeps a record of the visit in case someone at the same location later tests positive.

Apple and Google are blocking the update that would let people upload the history of the locations they have checked into directly to health authorities.

The Department of Health and Social Care said it is in discussions with Apple and Google to “provide beneficial updates to the app which protect the public.”

Apple and Google declined to comment.

Credit…James Ross/EPA, via Shutterstock

Australia has given up on the goal of vaccinating its entire population against Covid-19 by the end of the year, following updated advice from health officials that younger people should not receive the AstraZeneca vaccine, as well as delays in the delivery of doses.

The Australian government said last week that it had accepted a recommendation by a panel of health experts that people under 50 receive the Pfizer-BioNTech vaccine instead of the one developed by AstraZeneca, which had been the centerpiece of Australia’s vaccination program. The change in guidance came after European regulators found links between the AstraZeneca vaccine and rare blood clots, prompting several countries to restrict use of the shot.

Prime Minister Scott Morrison said Friday that the government had ordered another 20 million doses of the Pfizer vaccine, doubling what it had already purchased. But they are not expected to be available until the fourth quarter of this year, dealing a blow to the government’s previously stated goal of inoculating all of its 25 million people by then.

Mr. Morrison appeared to acknowledge the change in timeline in a Facebook post on Sunday.

“The government has also not set, nor has any plans to set any new targets for completing first doses,” Mr. Morrison said. “While we would like to see these doses completed before the end of the year, it is not possible to set such targets given the many uncertainties involved.”

Public health experts have criticized Mr. Morrison’s government for relying too heavily on the AstraZeneca vaccine, a relatively cheap and easy-to-use shot but one whose troubles have jeopardized inoculation efforts in multiple countries. They said the setback to Australia’s vaccination program risked undermining the country’s success in containing the spread of the coronavirus since recording its first case in January 2020.

“We’re in a position a year later where that hard-won success is jeopardized by a completely incompetent approach to a vaccine rollout,” said Bill Bowtell, a public health policy expert and adjunct professor at the University of New South Wales in Sydney.

Australia has made four separate agreements for the supply of Covid-19 vaccines that would give it a total of 170 million doses, enough to inoculate its population more than three times over. Plans to manufacture almost all of its 54 million AstraZeneca doses domestically were approved last month.

But the Australian government has been under fire for weeks over the sluggish pace of its vaccination rollout, which began in late February. By the end of March, when the government had aimed to vaccinate four million people, only about 600,000 had actually been inoculated. As of Sunday, Australia had administered fewer than 1.2 million doses.

Australian officials have attributed the slow rollout to delays in the delivery of millions of vaccine doses manufactured in the European Union, which has curbed exports amid its own supply shortages. The export restrictions mainly affect the AstraZeneca vaccine.

After enduring strict lockdowns for much of the past year, Australians are now enjoying relatively normal life in a country that has all but stamped out the virus. But public health experts warn that until more of the population is vaccinated, those freedoms are precarious.

“Having eliminated Covid, they thought a mass vaccination campaign would lock that in,” Mr. Bowtell said of the Australian public. “Now they are being deeply disillusioned.”

Credit…Adam Dean for The New York Times

Thailand is facing its worst coronavirus outbreak just as millions of people head to their home provinces during the country’s biggest travel holiday.

The latest wave of infections, which has sent at least eight cabinet members into isolation, is centered in a Bangkok nightlife district said to be popular with government officials and wealthy partygoers. The country, which until now has largely kept the virus under control, set a record Monday for new daily cases with 985.

One top health official warned that Thailand could soon face as many as 28,000 new cases a day in the worst-case scenario. The government announced it would set up field hospitals as Covid-19 wards at existing facilities begin to fill up.

Officials ordered the closure of hundreds of bars and nightclubs, but critics say the government has been inconsistent in its efforts to bring the outbreak under control. The prime minister, Prayuth Chan-ocha, stopped short of banning travel between provinces for the Songkran holiday, which begins on Tuesday and marks the beginning of the Thai New Year.

“Whatever will be, will be,” he said last week in explaining his decision. “The reason is it’s a matter that involves a huge number of people. The government will have to try to cope with that later.”

Dozens of provinces have imposed their own restrictions on travelers coming from Bangkok and other affected areas, prompting many Thais to cancel their trips. But many others set off over the weekend.

During earlier outbreaks, the government often acted quickly to require face masks, ban foreign tourists, impose quarantine restrictions and lock down hard-hit areas. It has reported fewer than 34,000 cases — mostly from a January surge traced to a seafood market near Bangkok — and just 97 deaths.

But it has been lax in testing and slow to vaccinate. So far, it has procured about 2.2 million doses and given at least one to about 500,000 people. Thailand’s population is 70 million.

Vaccine production is not expected to begin in earnest until June, when a manufacturer in Thailand is scheduled to begin producing 10 million doses a month of the AstraZeneca vaccine.

Health officials were alarmed by the recent discovery of dozens of cases of the highly infectious coronavirus variant first identified in Britain. The finding highlighted the inadequacy of Thailand’s virus testing and suggested that its quarantine procedures have not been as effective as officials believed.

Tourism operators have been especially angered by the government’s lackadaisical approach to obtaining vaccine supplies. The tourism industry, which normally accounts for about 20 percent of the nation’s economy, is highly dependent on foreign visitors and has been calling for widespread vaccinations to speed its recovery.

The outbreak in Bangkok has also prompted questions about the activities of some top officials and their aides.

The transportation minister, Saksayam Chidchob, who was hospitalized with Covid-19, was criticized for not being forthcoming about his whereabouts during times when he may have been exposed to the virus. He denied visiting the gentlemen’s club at the center of the outbreak and said he believed he had contracted the virus from an aide.

Credit…Gabriella Demczuk for The New York Times

Parents with school-age children have struggled to combine their usual work and family responsibilities this past year with at least some degree of home-schooling.

But mothers and fathers of middle-schoolers — the parenting cohort long known to researchers as the most angst-ridden and unhappy — are connecting now in a specific sort of common misery: the pressing fear that their children, at a vital point in their academic and social lives, have tripped over some key developmental milestones and may never quite find their footing.

Experts say some of their worries are justified — up to a point. The pandemic has taken a major toll on many adolescents’ emotional well-being.

Yet as the nation begins to pivot from trauma to recovery, many mental-health experts and educators are trying to spread the message that parents, too, need a reset. If adults want to guide their children toward resilience, these experts say, then they need to get their own minds out of crisis mode.

Early adolescence is considered a critical period, a time of brain changes so rapid and far-reaching that they rival the plasticity and growth that take place in the newborn to 3-year-old phase.

These changes make children more capable of higher-level thinking and reasoning. They also make them crave social contact, attention and approval.

Remote learning and social distancing are in many ways the opposite of what children in this age group want and need.

“It’s been hardest on middle schoolers,” said Phyllis Fagell, a therapist and school counselor who wrote the 2019 book “Middle School Matters.” “It is their job to pull away from parents, to use these years to really focus on figuring out where they are in the pecking order. And all of that hard work that has to happen in these years was just put on hold.”

Yet Ms. Fagell and many other experts in adolescent development were adamant that parents should not panic — and that the spread of the “lost year” narrative needed to stop.

Getting a full picture of what’s going on with middle schoolers, they agreed, requires holding two seemingly contradictory ideas simultaneously in mind: The past year has been terrible. And most middle schoolers will be fine.

Tags Covid19, Live, News, Times, Updates, York

Business

Company Leaders Urged to Wade Into Debate Over Voting Legal guidelines: Dwell Updates

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Post date April 12, 2021

Ken Frazier, the Merck chief executive, has called on corporate executives to publicly state their support for broader ballot access.

Here’s what you need to know:

Credit…Mike Cohen for The New York Times

More than 100 corporate leaders attended a Zoom meeting on Saturday afternoon to discuss what they should do, if anything, to shape the debate around restrictive voting laws under discussion across the United States.

On the call, which was organized by Jeffrey Sonnenfeld, a Yale professor who regularly gathers executives to discuss politics, several senior business leaders spoke forcefully about the need for companies to use their clout to oppose new state legislation that would make it harder to vote.

The call began with Ken Chenault, the former American Express chief, and Ken Frazier, the Merck chief executive, urging the executives to publicly state their support for broader ballot access, according to several people who attended the meeting. Earlier this month, the two gathered 70 fellow Black leaders to sign a letter last month calling on companies to fight bills that restrict voting rights, like the one that recently passed in Georgia.

Mr. Chenault and Mr. Frazier have prepared a new statement that broadly supports voting rights, and they are asking big companies to sign it this week.

Later on the call, several other chief executives shared their views on the wave of restrictive new voting laws being advanced by Republicans, according to the people who attended the meeting.

Chip Bergh, the chief executive of Levi’s, called the movement a threat to democracy, while Mia Mends, a Black executive at Sodexo who is based in Houston, spoke about restrictive voting legislation that was making its way through the Texas state legislature.

Toward the end of the call, Reid Hoffman, the LinkedIn co-founder, discussed the importance of having corporate leaders affirm that the last election was secure, and James Murdoch, the former chief executive of 21st Century Fox, talked about the importance of a healthy democracy.

The voting-rights debate is fraught for companies, putting them at the center of an increasingly heated partisan battle.

“C.E.O.s are grappling right now with what to do and how to respond,” said Daniella Ballou-Aares, chief executive of Leadership Now, who helped organize the call. “There is a lot of confusion.”

But beyond making statements, business leaders are at a loss over what they can do to influence the policy decisions made by Republican lawmakers who have embraced overhauling voting rights as a priority.

Companies like Delta Air Lines and Coca-Cola lobbied behind the scenes before the Georgia law was passed last month, and the companies say their efforts had a hand in removing some of the most restrictive provisions, such as eliminating Sunday voting.

But after Delta and Coca-Cola came out in opposition to the final law, and other corporations began sounding the alarm about the voting legislation being advanced in nearly every state, Republican leaders lashed out.

“My warning, if you will, to corporate America is to stay out of politics,” Senator Mitch McConnell, Republican of Kentucky, said last week. “It’s not what you’re designed for. And don’t be intimidated by the left into taking up causes that put you right in the middle of America’s greatest political debates.”

Yet the business community appears to be emboldened, with more companies and business groups preparing to get involved.

Brad Karp, chairman of the law firm Paul Weiss, who attended the meeting on Saturday but did not speak at it, said he was organizing the legal community in an effort to support voting rights, and potentially challenge new laws.

“We plan to challenge any election law that would impose unnecessary barriers on the right to vote and the would disenfranchise underrepresented groups in our country,” Mr. Karp said.

So far, however, there is little indication that the growing outcry from big business is changing Republicans’ priorities, with legislation in Texas and other states still moving ahead.

“Texas is the next one up,” said one chief executive who attended the meeting but asked to remain anonymous. “Whether the business commitments will have a meaningful impact there, we’ll see.”

Credit…Neil Hall/EPA, via Shutterstock

The dispute, first reported by the BBC, highlights the supernational role that Apple and Google have played responding to the virus. The companies, which control the software of nearly every smartphone in the world, have forced governments to design contact tracing apps to their privacy specifications, or risk not have the tracking apps made available to the public. The gatekeeper role has frustrated policymakers in Britain, France and elsewhere, who have argued those public health decisions are for governments, not private companies to make.

An older version of the contact tracing app continues to work, but the data is stored on a person’s device, rather than being kept in a centralized database.

Apple and Google are blocking the update that would let people upload the history of the locations they have checked into directly to health authorities.

The Department of Health and Social Care said it is in discussions with Apple and Google to “provide beneficial updates to the app which protect the public.”

Apple and Google declined to comment.

Credit…Amr Alfiky/The New York Times

A year into the pandemic, there are signs that the American economy is stirring back to life, with a falling unemployment rate and a growing number of people back at work. Even mothers — who left their jobs in droves in the last year in large part because of increased caregiving duties — are slowly re-entering the work force.

But young Americans — particularly women between the ages of 16 and 24 — are living an altogether different reality, with higher rates of unemployment than older adults. And many thousands, possibly even millions, are postponing their education, which can delay their entry into the work force.

New research suggests that the number of “disconnected” young people — defined as those who are in neither school nor the work force — is growing. For young women, experts said, the caregiving crisis may be a major reason many have delayed their education or careers.

Last year, unemployment among young adults jumped to 27.4 percent in April from 7.8 percent in February. The rate was almost double the 14 percent overall unemployment rate in April and was the highest for that age group in the last two decades, according to the Bureau of Labor Statistics.

At its peak in April, the unemployment rate for young women over all hit 30 percent — with a 22 percent rate for white women in that age group, 30 percent for Black women and 31 percent for Latina women.

Those numbers are starting to improve as many female-dominated industries that shed jobs at the start of the pandemic, like leisure, retail and education, are adding them back. But roughly 18 percent of the 1.9 million women who left the work force since last February — or about 360,000 — were 16 to 24, according to an analysis of seasonally unadjusted numbers by the National Women’s Law Center.

At the same time, the number of women who have dropped out of some form of education or plan to is on the rise. During the pandemic, more women than men consistently reported that they had canceled plans to take postsecondary classes or planned to take fewer classes, according to a series of surveys by the U.S. Census Bureau since last April.

“We’ve focused in particular on the digital divide and the impact of that on the learning loss for kids,” said Reshma Saujani, founder of the nonprofit group Girls Who Code. “But we’re not talking about how the caregiving crisis is impacting the learning loss for kids and how it’s disproportionately impacting girls and girls of color.”

All of this can have long-term knock-on effects. Even temporary unemployment or an education setback at a young age can drag down someone’s potential for earnings, job stability and even homeownership years down the line, according to a 2018 study by Measure of America that tracked disconnected youth over the course of 15 years.

Credit…Andrew Testa for The New York Times

For the past year, the British economy has yo-yoed with the government’s pandemic restrictions. On Monday, as shops, outdoor dining, gyms and hairdressers reopened across England, the next bounce began.

The pandemic has left Britain with deep economic wounds that have shattered historical records: the worst recession in three centuries and record levels of government borrowing outside wartime.

Last March and April, there was an economic slump unlike anything ever seen before when schools, workplaces and businesses abruptly shut. Then a summertime boom, when restrictions eased and the government helped usher people out of their homes with a popular meal-discount initiative called “Eat Out to Help Out.”

Beginning in the fall, a second wave of the pandemic stalled the recovery, though the economic impact wasn’t as severe as it had been last spring. Still, the government has spent about 344 billion pounds, or $471 billion, on its pandemic response. To pay for it, the government has borrowed a record sum and is planning the first increase in corporate taxes since 1974 to help rebalance its budget.

By the end of the year, the size of Britain’s economy will be back where it was at the end of 2019, the Bank of England predicts. “The economy is poised like a coiled spring,” Andy Haldane, the central bank’s chief economist said in February. “As its energies are released, the recovery should be one to remember after a year to forget.”

Even though a lot of retail spending has shifted online, reopening shop doors will make a huge difference to many businesses.

Daunt Books, a small chain of independent bookstores, was busy preparing to reopen for the past week, including offering a click-and-collect service in all of its stores. Throughout the lockdown, a skeleton crew “worked harder than they’ve ever worked before, just to keep a trickle” of revenue coming in from online and telephone orders, said Brett Wolstencroft, the bookseller’s manager.

“The worst moment for us was December,” Mr. Wolstencroft said, when shops were shut in large parts of the country beginning on Dec. 20. “Realizing you’re losing your last bit of Christmas is exceptionally tough.”

He says he is looking forward to having customers return to browse the shelves and talk to the sellers. “We’d sort of turned ourselves into a warehouse” during the lockdown, he said, “but that doesn’t work for a good bookshop.”

With the likes of pubs, hairdressers, cinemas and hotels shut for months on end, Brits have built up more than £180 billion in excess savings, according to government estimates. That money, once people can get out more, is expected to be the engine of this recovery — even though economists are debating how much of this windfall will end up in the tills of these businesses.

Monday is just one phase of the reopening. Pubs can serve customers only in outdoor seating areas, and less than half, about 15,000, have such facilities. Hotels will also remain closed for at least another month alongside indoor dining, museums and theaters. The next reopening phase is scheduled for May 17.

Over all, two-fifths of hospitality businesses have outside space, said Kate Nicholls, the chief executive of U.K. Hospitality, a trade group.

“Monday is a really positive start,” she said. “It helps us to get businesses gradually back open, get staff gradually back off furlough and build up toward the real reopening of hospitality that will be May 17.”

Credit…Ahmed Jadallah/Reuters

Saudi Aramco, the national oil company of Saudi Arabia, has reached a deal to raise $12.4 billion from the sale of a 49 percent stake in a pipeline-rights company.

The money will come from a consortium led by EIG Global Energy Partners, a Washington-based investor in pipelines and other energy infrastructure.

Under the arrangement announced on Friday, the investor group will buy 49 percent of a new company called Aramco Oil Pipelines, which will have the rights to 25 years of payments from Aramco for transporting oil through Saudi Arabia’s pipeline networks.

Aramco is under pressure from its main owner, the Saudi government, to generate cash to finance state operations as well as investments like new cities to diversify the economy away from oil.

The company has pledged to pay $75 billion in annual dividends, nearly all to the government, as well as other taxes.

Last year, the dividends came to well in excess of the company’s net income of $49 billion. Recently, Aramco was tapped by Crown Prince Mohammed bin Salman, the kingdom’s main policymaker, to lead a new domestic investment drive to build up the Saudi economy.

The pipeline sale “reinforces Aramco’s role as a catalyst for attracting significant foreign investment into the Kingdom,” Aramco said in a statement.

From Saudi Arabia’s perspective, the deal has the virtue of raising money up front without giving up control. Aramco will own a 51 percent majority share in the pipeline company and “retain full ownership and operational control” of the pipes the company said.

Aramco said Saudi Arabia would retain control over how much oil the company produces.

Abu Dhabi, Saudi Arabia’s oil-rich neighbor, has struck similar oil and gas deals with outside investors.

Credit…Pool photo by Susan Walsh.

Global stocks drifted lower from recent highs on Monday ahead of a batch of first-quarter earnings reports.

The S&P 500 dipped 0.1 percent after reaching a record on Friday. The Stoxx Europe 600 also declined from a high reached on Friday, dropping 0.2 percent . The FTSE 100 in Britain was also down slightly.

Stocks have recently been propelled higher by expectations that the global economy will recover strongly from the pandemic this year. Much of the impetus is expected to come from the United States, where trillions of dollars are being spent on various economic recovery packages. On Sunday, Federal Reserve chair, Jerome H. Powell, said the economy was at an “inflection point” and on the cusp of growing more quickly.

But there are still concerns about the uneven nature of the recovery within countries and between them. For example, parts of Europe and South America are still struggling to contain outbreaks of the coronavirus and the vaccine rollout is slower than in the United States and Britain.

Oil prices and Treasury notes

Oil futures rose. Futures of West Texas Intermediate, the U.S. crude benchmark, rose 2 percent to $60.49 a barrel.
Yields on 10-year U.S. Treasury notes were little changed at 1.66 percent.

Retail sales

Retail sales in the eurozone rose more than economists forecast, data published Monday shows. Sales jumped 3 percent in February from the previous month, compared with predictions of a 1.7 percent increase.
In England, nonessential retail stores opened on Monday for the first time in more than three months. Shares in JD Sports, a clothing retailer, rose in the morning and hit a record high. But by midmorning shares were down alongside several other large British brands, including Marks & Spencer and Next. Foot traffic in shopping locations across Britain was three times greater than last week, according to data from Springboard.

The deadline to file a 2020 individual federal return and pay any tax owed has been extended to May 17. But some deadlines remain April 15, Ann Carrns reports for The New York Times. So it’s a good idea to double-check deadlines.

Most, but not all, states are following the extended federal deadlines, and a few have adopted even more generous extensions.

But the Internal Revenue Service has not postponed the deadline for making first-quarter 2021 estimated tax payments. This year, the first estimated tax deadline remains April 15. Some members of Congress are pushing for the I.R.S. to reconcile the deadlines, but it’s unclear whether that will happen, with April 15 less than a week away.

Most states have retained their usual deadlines for first-quarter estimated taxes. One exception is Maryland, which moved both its filing deadline and the deadline for first- and second-quarter estimated tax payments to July 15.

Credit…Elaine Cromie for The New York Times

Even as unionization elections, like the lopsided vote against a union at Amazon’s warehouse in Bessemer, Ala., have often proven futile, labor has enjoyed some success over the years with an alternative model — what sociologist of labor calls the “air war plus ground war.”

The idea is to combine workplace actions like walkouts (the ground war) with pressure on company executives through public relations campaigns that highlight labor conditions and enlist the support of public figures (the air war). The Service Employees International Union used the strategy to organize janitors beginning in the 1980s, and to win gains for fast-food workers in the past few years, including wage increases across the industry, Noam Scheiber reports for The New York Times.

“There are almost never any elections,” said Ruth Milkman, a sociologist of labor at the Graduate Center of the City University of New York. “It’s all about putting pressure on decision makers at the top.”

Labor leaders and progressive activists and politicians said they intended to escalate both the ground war and the air war against Amazon after the failed union election, though some skeptics within the labor movement are likely to resist spending more revenue, which is in the billions of dollars a year but declining.

Stuart Appelbaum, the president of the retail workers union, said in an interview that elections should remain an important part of labor’s Amazon strategy. “I think we opened the door,” he said. “If you want to build real power, you have to do it with a majority of workers.”

But other leaders said elections should be de-emphasized. Jesse Case, secretary-treasurer of a Teamsters local in Iowa, said the Teamsters were trying to organize Amazon workers in Iowa so they could take actions like labor stoppages and enlist members of the community — for example, by turning them out for rallies.

Credit…Alyssa Schukar for The New York Times

President Biden’s sweeping pandemic relief bill and his multitrillion-dollar initiatives to rebuild infrastructure and increase wages for health care workers are intended to help ease the economic disadvantages facing racial minorities.

Yet academic experts and some policymakers say still more will be needed to repair a yawning racial wealth gap, in which Black households have a mere 12 cents for every dollar that a typical white household holds.

The disparity results in something of a rigged game for Black Americans, in which they start out behind in economic terms at birth and fall further behind during their lives, Patricia Cohen writes in The New York Times. Black graduates, for example, have to take out bigger loans to cover college costs, compelling them to start out in more debt — on average $25,000 more — than their white counterparts.

The persistence of the problem affects the entire economy: A study by McKinsey & Company found that consumption and investment lost because of the gap cost the U.S. economy $1 trillion to $1.5 trillion over 10 years.

It also has deep historical roots. African-Americans were left out of the Homestead Act, which distributed land to citizens in the 19th century, and largely excluded from federal mortgage loan support programs in the 20th century.

As a result, the gap is unlikely to shrink substantially without policies that specifically address it, such as government-funded accounts that provide children with assets at birth. Several states have experimented with these programs on a small scale.

“We have very clear evidence that if we create an account of birth for everyone and provide a little more resources to people at the bottom, then all these babies accumulate assets,” said Michael Sherraden, founding director of the Center for Social Development at Washington University in St. Louis, which is running an experimental program in Oklahoma. “Kids of color accumulate assets as fast as white kids.”

Tags Corporate, Debate, Laws, leaders, Live, Updates, Urged, Voting, Wade

Business

Amazon Vote Depend Outcomes: Dwell Updates

Post author By
Post date April 9, 2021

There were 3,215 ballots cast, according to the Retail, Wholesale and Department Store Union, from 55 percent of the 5,805 eligible voters at the warehouse.

Here’s what you need to know:

Credit…Bob Miller for The New York Times

The counting of ballots in the closely watched unionization drive at the Amazon warehouse in Bessemer, Ala., is set to resume Friday at 8:30 a.m. Central time.

With about half the ballots counted late Thursday, votes against unionization had an advantage of more than 2-to-1 over those in favor, according to a live broadcast of the counting that was tallied by The New York Times. When the counting paused, there were 1,100 votes against unionization and 463 in support.

There were 3,215 ballots cast, according to the Retail, Wholesale and Department Store Union, from 55 percent of the 5,805 eligible voters at the warehouse. The union must get support from more than half of the votes cast to prevail.

Unofficial Tally of Amazon Warehouse Unionization Votes

1,608 yes votes are needed for the union to win today.

The New York Times·As of 9:39 a.m. Hundreds of ballots have been contested, which could delay either side from reaching the threshold. One ballot was marked as void.

The ballots were being counted in random order in the National Labor Relations Board’s office in Birmingham, Ala., and the process was broadcast via Zoom to more than 200 journalists, lawyers and other observers.

The voting was conducted by mail from early February until the end of last month. A handful of workers from the labor board called out the results of each vote “Yes” for a union or “No” for nearly four hours on Thursday.

Amazon and the union had spent more than a week in closed sessions, reviewing the eligibility of each ballot cast with the labor board, the federal agency that conducts union elections. The union said several hundred ballots had been contested, largely by Amazon, and those ballots were set aside to be adjudicated and counted only if they were vital to determining an outcome. If Amazon’s large margin holds steady throughout the count, the contested ballots are likely to be moot.

The incomplete tally put Amazon on the cusp of defeating the most serious organized-labor threat in the company’s history. Running a prominent campaign since the fall, the Retail, Wholesale and Department Store Union aimed to establish the first union at an Amazon warehouse in the United States. The result will have major implications not only for Amazon but also for organized labor and its allies.

Labor organizers have tapped into dissatisfaction with working conditions in the warehouse, saying Amazon’s pursuit of efficiency and profits makes the conditions harsh for workers. The company counters that its starting wage of $15 an hour exceeds what other employers in the area pay, and it has urged workers to vote against unionizing.

Amazon has always fought against unionizing by its workers. But the vote in Alabama comes at a perilous moment for the company. Lawmakers and regulators — not competitors — are some of its greatest threats, and it has spent significant time and money trying to keep the government away from its business.

The union drive has had the retailer doing a political balancing act: staying on the good side of Washington’s Democratic leaders while squashing an organizing effort that President Biden has signaled he supported.

Labor leaders and liberal Democrats have seized on the union drive, saying it shows how Amazon is not as friendly to workers as the company says it is. Some of the company’s critics are also using its resistance to the union push to argue that Amazon should not be trusted on other issues, like climate change and the federal minimum wage.

Sophia June contributed to this report.

Credit…Matt Mcknight/Reuters

Boeing said Friday it had notified 16 customers of a potential electrical issue with its troubled 737 Max plane and recommended that they temporarily stop flying some planes.

Boeing said airlines should verify that “that a sufficient ground path exists for a component of the electrical power system” on certain Max planes. The statement comes just months after airlines resumed flying the jet, which had been grounded for nearly two years because of a pair of accidents that killed nearly 350 people.

“We are working closely with the U.S. Federal Aviation Administration on this production issue,” Boeing said in a statement. “We are also informing our customers of specific tail numbers affected and we will provide direction on appropriate corrective actions.”

Southwest Airlines, one of the biggest customers of the plane, said that 30 of its 58 Max jets were affected by the notification and that it was swapping those planes out for now. The airline is only flying 15 or fewer Max jets each day.

“Southwest anticipates minimal disruption to our operation, and we appreciate the understanding of our customers and employees as safety is always our uncompromising priority,” it said in a statement.

The Max was banned from flying globally in March 2019 after the crashes. After a lengthy review, the F.A.A. allowed the Max to fly again in November, provided that Boeing and airlines make required changes to the jet, including updating its flight control software.

Since then, aviation regulators around the world have followed suit and the plane has been used on thousands of flights.

Credit…Amr Alfiky/The New York Times

The White House budget office will release the first fragments of President Biden’s budget proposals to Congress on Friday, providing a fresh sense of his priorities as lawmakers wait on his administration’s full budget.

Officials have stressed that the document — which will outline plans for discretionary spending within government agencies — is not a formal budget and will not include tax proposals or so-called mandatory spending in areas like Social Security. Instead, it will provide overall funding levels for agencies, like the Treasury and Defense Department, and some detail on proposed spending across the administration in areas like combating climate change.

The request will cover the 2022 fiscal year, which starts in October. White House officials had originally announced it would be released last week, before pushing back the timeline. The budget office does not have a confirmed director, after Mr. Biden’s first pick for the job, Neera Tanden, withdrew from consideration amid Republican opposition centered on her past statements on Twitter that were critical of conservatives.

Shalanda D. Young, who was confirmed by the Senate last month to be deputy director of the Office of Management and Budget, is serving as Mr. Biden’s acting budget director.

Officials have promised that Mr. Biden’s full budget will be released later this spring. They have blamed delays on a lack of cooperation from outgoing members of the Trump administration.

“Well there’s no question, as we talked about during the transition, that we dealt with some impactful intransigence from the outgoing political appointees,” Jen Psaki, the White House press secretary, told reporters this week.

“We had some cooperation from the career staff, but we didn’t have all of the information that we needed,” she added. “As you all know, we also don’t have a budget director. We have not had a budget director confirmed. We have now an acting budget director, which is an important step forward.”

Congress, which is responsible for approving government spending, is under no requirement to adhere to the White House budget, which is generally viewed as a political messaging document. In recent years, lawmakers rejected many of the Trump administration’s efforts to gut domestic programs.

Officials say the proposal that will be released on Friday will not reflect the details in Mr. Biden’s $2.3 trillion infrastructure plan, which he introduced last week, or of a second plan he has yet to roll out, which will focus on what officials call “human infrastructure” like education and child care.

Credit…Kate Munsch/Reuters

After weeks of wading into the debate over how to regulate SPACS, the popular blank-check deals that provide companies a back door to public markets, the Securities and Exchange Commission is sending its first shot across the bow.

John Coates, the acting director of the corporate finance division at the S.E.C., issued a lengthy statement on Thursday about how securities laws apply to blank-check firms, the DealBook newsletter reports.

In particular, he is interested in a crucial (and controversial) difference between SPACs and traditional initial public offerings: blank-check firms are allowed to publish often-rosy financial forecasts when merging with an acquisition target, while companies going public in an I.P.O. are not.

“With the unprecedented surge has come unprecedented scrutiny,” Mr. Coates wrote of the recent boom in blank-check deals.

Investors raise money for SPACs via an I.P.O. of a shell company, and those funds are used to merge with an unspecified company within two years, which then also becomes a publicly traded company. Because the deal is technically a merger, it’s given the same “safe harbor” legal protections for its financial forecasts as a typical M.& A. deal.

With traditional I.P.O.s, companies can’t issue such projections to prospective investors, because regulators consider it too risky for firms as yet untested by the public markets. And that’s why there are flying-taxi companies with little revenue going public via a SPAC while promising billions in sales far in the future.

The S.E.C. thinks allowing financial forecasts for these deals might be a problem. They can be “untested, speculative, misleading or even fraudulent,” Mr. Coates wrote. And he concludes his statement by suggesting a major rethink of how the “full panoply” of securities laws applies to SPACs, which could upend the blank-check business model.

If the S.E.C. does not treat SPAC deals as the I.P.Os they effectively are, he writes, “potentially problematic forward-looking information may be disseminated without appropriate safeguards.”

The letter serves as a warning, but perhaps not much else — yet. Unless the S.E.C. issues new rules (as it did for penny stocks) or Congress passes legislation, SPAC projections will continue. But this strongly worded statement could moderate or even mute them.

“The S.E.C. has now put them on notice,” Lynn Turner, a former chief accountant of the agency, said.

Credit…Tom Jamieson for The New York Times

Before the pandemic, companies used to lure top talent with lavish perks like subsidized massages, Pilates classes and free gourmet meals. Now, the hottest enticement is permission to work not just from home, but from anywhere — even, say, from the French Alps or a Caribbean island.

Revolut, a banking start-up based in London, said Thursday that it would allow its more than 2,000 employees to work abroad for up to two months a year in response to requests to visit overseas family for longer periods.

“Our employees asked for flexibility, and that’s what we’re giving them as part of our ongoing focus on employee experience and choice,” said Jim MacDougall, Revolut’s vice president of human resources.

Georgia Pacquette-Bramble, a communications manager for Revolut, said she was planning to trade the winter in London for Spain or somewhere in the Caribbean. Other colleagues have talked about spending time with family abroad.

Revolut has been valued at $5.5 billion, making it one of Europe’s most valuable financial technology firms. It joins a number of companies that will allow more flexible working arrangements to continue after the pandemic ends. JPMorgan Chase, Salesforce, Ford Motor and Target have said they are giving up office space as they expect workers to spend less time in the office, and Spotify has told employees they can work from anywhere.

Not all companies, however, are shifting away from the office. Tech companies, including Amazon, Facebook, Google and Apple, have added office space in New York over the last year. Amazon told employees it would “return to an office-centric culture as our baseline.”

Dr. Dan Wang, an associate professor at Columbia Business School, said he did not expect office-centric companies to lose top talent to companies that allow flexible working, in part because many employees prefer to work from the office.

Furthermore, when employees are not in the same space, there are fewer spontaneous interactions, and spontaneity is critical for developing ideas and collaborating, Dr. Wang said.

“There is a cost,” he said. “Yes, we can interact via email, via Slack, via Zoom — we’ve all gotten used to that. But part of it is that we’ve lowered our expectations for what social interaction actually entails.”

Revolut said it studied tax laws and regulations before introducing its policy, and that each request to work from abroad was subject to an internal review and approval process. But for some companies looking to put a similar policy in place, a hefty tax bill, or at least a complicated tax return, could be a drawback.

Online stores offering counterfeit or stolen vaccine cards have mushroomed in recent weeks, according to Saoud Khalifah, the founder of FakeSpot, which offers tools to detect fake listings and reviews online.

The efforts are far from hidden, with Facebook pages named “vax-cards” and eBay listings with “blank vaccine cards” openly hawking the items, Sheera Frenkel reports for The New York Times.

Last week, 45 state attorneys general banded together to call on Twitter, Shopify and eBay to stop the sale of false and stolen vaccine cards.

Facebook, Twitter, eBay, Shopify and Etsy said that the sale of fake vaccine cards violated their rules and that they were removing posts that advertised the items.

The Centers for Disease Control and Prevention introduced the vaccination cards in December, describing them as the “simplest” way to keep track of Covid-19 shots. By January, sales of false vaccine cards started picking up, Mr. Khalifah said. Many people found the cards were easy to forge from samples available online. Authentic cards were also stolen by pharmacists from their workplaces and put up for sale, he said.

Many people who bought the cards were opposed to the Covid-19 vaccines, Mr. Khalifah said. In some anti-vaccine groups on Facebook, people have publicly boasted about getting the cards.

Other buyers want to use the cards to trick pharmacists into giving them a vaccine, Mr. Khalifah said. Because some of the vaccines are two-shot regimens, people can enter a false date for a first inoculation on the card, which makes it appear as if they need a second dose soon. Some pharmacies and state vaccination sites have prioritized people due for their second shots.

Credit…George Etheredge for The New York Times

In only a year, the market value of office towers in Manhattan has plummeted 25 percent, according to city projections released on Wednesday.

Across the country, the vacancy rate for office buildings in city centers has steadily climbed over the past year to reach 16.4 percent, according to Cushman & Wakefield, the highest in about a decade. That number could climb further if companies keep giving up office space because of hybrid or fully remote work, Peter Eavis and Matthew Haag report for The New York Times.

So far, landlords like Boston Properties and SL Green have not suffered huge financial losses, having survived the past year by collecting rent from tenants locked into long leases — the average contract for office space runs about seven years.

But as leases come up for renewal, property owners could be left with scores of empty floors. At the same time, many new office buildings are under construction — 124 million square feet nationwide, or enough for roughly 700,000 workers. Those changes could drive down rents, which were touching new highs before the pandemic. And rents help determine assessments that are the basis for property tax bills.

Many big employers have already given notice to the owners of some prestigious buildings that they are leaving when their leases end. JPMorgan Chase, Ford Motor, Salesforce, Target and more are giving up expensive office space and others are considering doing so.

The stock prices of the big landlords, which are often structured as real estate investment trusts that pass almost all of their profit to investors, trade well below their previous highs. Shares of Boston Properties, one of the largest office landlords, are down 29 percent from the prepandemic high. SL Green, a major New York landlord, is 26 percent lower.

Credit…Rebecca Noble for The New York Times

U.S. stock futures rose on Friday along with government bond yields after the Federal Reserve chair, Jerome Powell, reiterated his intention to keep supporting the economic recovery until it is complete.
The rollout of vaccinations meant the United States economy could probably reopen soon, but the recovery was still “uneven and incomplete,” Mr. Powell said at the International Monetary Fund annual conference on Thursday.
He pointed out that the economic burden of the pandemic was falling most heavily on low-income service workers who were least able to bear it. “I really want to finish the job and get back to a great economy,” Mr. Powell said.
The yield on 10-year Treasury notes jumped 5 basis points, or 0.05 percentage point, to 1.67 percent. The yield on 10-year government bonds rose across Europe, too.

Stocks, low volatility and oil prices

The S&P 500 index was set to open 0.1 percent higher and has risen 0.4 percent so far this week.
The relatively quiet week in the stock market has sent the VIX index, a measure of volatility, to its lowest level since February 2020. The index was at 17 points on Friday. In mid-March, as the pandemic shut down huge parts of the global economy, it spiked above 80.
European stock indexes were mixed on Friday, though the Stoxx Europe 600 was heading for its sixth straight week of gains. The DAX index in Germany rose 0.1 percent after data showed an unexpected drop in industrial production.
Oil prices rose slightly with futures of West Texas Intermediate, the U.S. crude benchmark, 0.2 percent higher to $59.70 a barrel.

Tags Amazon, Count, Live, results, Updates, Vote

Business

State Jobless Claims Climb, Exhibiting Continued Stress on Labor Market: Stay Updates

Post author By
Post date April 8, 2021

Essen im Freien in einem Restaurant in Philadelphia letzte Woche. Wirtschaftswissenschaftler rechnen mit einer Verbesserung des Arbeitsmarktes, da sich die Einführung von Impfstoffen beschleunigt und immer mehr Staaten die Geschäftsbeschränkungen aufheben.

Folgendes müssen Sie wissen:

Anerkennung…Hannah Beier für die New York Times

Der Arbeitsmarkt bleibt herausfordernd. Die Regierung berichtet am Donnerstag, dass die ersten Ansprüche auf staatliche Arbeitslosenunterstützung letzte Woche gestiegen sind.

Insgesamt 741.000 Arbeitnehmer haben letzte Woche erstmals Anträge auf staatliche Arbeitslosenunterstützung gestellt, was einer Zunahme von 18.000 entspricht, teilte das Arbeitsministerium mit. Es war der zweite wöchentliche Anstieg in Folge, nachdem neue Ansprüche ein Pandemietief erreicht hatten.

Gleichzeitig wurden 152.000 neue Anträge auf Pandemic Unemployment Assistance gestellt, ein Bundesprogramm für Freiberufler, Teilzeitbeschäftigte und andere Personen, die nicht routinemäßig Anspruch auf staatliche Leistungen haben. Das war ein Rückgang von 85.000.

Keine der Zahlen ist saisonbereinigt.

Die Ansprüche stiegen zu Beginn des Jahres auf über eine Million, haben es aber getan seitdem gesunken, unterstützt durch die Verbreitung von Impfungen, die Lockerung der Beschränkungen für Unternehmen in vielen Staaten und die Ankunft von Konjunkturfonds.

Die meisten Personen erhielten in den letzten Wochen Zahlungen in Höhe von 1.400 US-Dollar als Teil des Hilfspakets der Biden-Regierung in Höhe von 1,9 Billionen US-Dollar, und die Mittel sollten die Verbraucherausgaben in den kommenden Monaten stützen.

Am Freitag berichtete die Regierung, dass die Arbeitgeber im März 916.000 Arbeitsplätze geschaffen haben, doppelt so viel wie im Februar und am meisten seit August. Die Arbeitslosenquote sank auf 6 Prozent, den niedrigsten Stand seit Beginn der Pandemie. Fast 350.000 Menschen sind wieder erwerbstätig.

Trotzdem gibt es viel zu tun.

Selbst nach dem Beschäftigungszuwachs im März sind in der Wirtschaft 8,4 Millionen Arbeitsplätze weniger als im Februar 2020. Ganze Sektoren wie Reisen und Freizeit sowie Restaurants und Bars erholen sich erst allmählich von den Millionen von Arbeitsplatzverlusten, die sich daraus ergaben Ankunft der Pandemie.

Anerkennung…Charity Rachelle für die New York Times

Die Gewerkschaft, die Arbeiter in einem Amazonas-Lagerhaus in Alabama vertreten will, gab am späten Mittwoch bekannt, dass 3.215 Stimmzettel abgegeben wurden – oder etwa 55 Prozent der rund 5.800 wahlberechtigten Arbeiter.

Die Stimmzettel werden nach Angaben der Retail Wholesale and Department Store Union voraussichtlich ab Donnerstagnachmittag oder Freitagmorgen im Büro des National Labour Relations Board in Birmingham von Hand gezählt. Hunderte von Stimmzetteln werden angefochten, hauptsächlich von Amazon, sagte die Gewerkschaft.

Die Stimmenzählung wird in einem Videokonferenzaufruf an eine kleine Anzahl von Außenstehenden, einschließlich Journalisten, sowie an Vertreter der Gewerkschaft und des Unternehmens gezeigt.

Gewerkschaftswahlen werden in der Regel persönlich abgehalten, aber die Arbeitsbehörde entschied, dass die Wahlen per Post durchgeführt werden sollten, um die Risiken während der Pandemie zu minimieren. Die Stimmzettel wurden Anfang Februar an die Arbeitnehmer verschickt und waren vor dem 30. März bei der Agentur fällig. Seitdem hatten Amazon und die Gewerkschaft die Möglichkeit, zu prüfen, ob bestimmte Arbeitnehmer wahlberechtigt waren.

Wenn die öffentliche Zählung abgeschlossen ist, wird die Agentur die formellen Ergebnisse bekannt geben, wenn die Gewinnspanne für eine Seite größer ist als die Anzahl der umstrittenen Stimmzettel.

Wenn der Spielraum enger ist, kann es zwei bis drei Wochen dauern, bis die NLRB eine Anhörung abhält, um die angefochtenen Stimmzettel zu sortieren und von beiden Seiten Beweise dafür zu erhalten, ob sie gezählt werden sollten.

Anerkennung…Ein Rong Xu für die New York Times

Beamte nennen Taiwans Dürre die schlimmste seit mehr als einem halben Jahrhundert. Und es stellt die enormen Herausforderungen dar, die mit dem Hosting der Halbleiterindustrie der Insel verbunden sind, die ein zunehmend unverzichtbarer Knotenpunkt in den globalen Lieferketten für Smartphones, Autos und andere Grundpfeiler des modernen Lebens ist.

Chiphersteller verwenden viel Wasser, um ihre Fabriken und Wafer zu reinigen, die dünnen Siliziumscheiben, aus denen die Chips bestehen. Raymond Zhong und Amy Chang Chien berichten für die New York Times. Im Jahr 2019 verbrauchten die Anlagen der Taiwan Semiconductor Manufacturing Company in Hsinchu nach Angaben des Unternehmens 63.000 Tonnen Wasser pro Tag oder mehr als 10 Prozent der Versorgung aus zwei lokalen Lagerstätten.

In den letzten Monaten hat die Regierung:

Die umfassendste Maßnahme war jedoch die Einstellung der Bewässerung, die 183.000 Morgen Ackerland betrifft, rund ein Fünftel von Taiwans bewässertem Land.

Die taiwanesische Öffentlichkeit scheint entschieden zu haben, dass der Reisanbau sowohl für die Insel als auch für die Welt weniger wichtig ist als Halbleiter. Die Regierung subventioniert die Erzeuger für die Einkommensverluste. Der 55-jährige Chuang Cheng-deng befürchtet jedoch, dass die vereitelte Ernte die Kunden dazu bringen wird, andere Lieferanten zu suchen, was Jahre mit schwachen Erträgen bedeuten könnte.

Anerkennung…Elliott-Werte für die New York Times

Die Staatsanwaltschaft beschuldigt den französischen Arm von Ikea, dem schwedischen Einrichtungsgiganten, und einigen seiner ehemaligen Führungskräfte, in einem Strafverfahren, das die Aufmerksamkeit der Öffentlichkeit in Frankreich erregt hat, von 2009 bis 2012 ein „Spionagesystem“ entwickelt zu haben.

Das angebliche Schnüffeln wurde verwendet, um Mitarbeiter und Gewerkschaftsorganisatoren zu untersuchen, die im Urlaub befindlichen Arbeitnehmer zu untersuchen und Kunden einzuschätzen, die Rückerstattungen für verpfuschte Bestellungen beantragen, berichtet Liz Alderman für die New York Times. Ein ehemaliger Militäragent wurde angeheuert, um einige der geheimeren Operationen durchzuführen.

Insgesamt werden 15 Personen belastet. Ein Urteil einer Jury ist für den 15. Juni geplant.

Der Fall erregte 2012 Empörung, nachdem die E-Mails an die französischen Nachrichtenmedien durchgesickert waren und Ikea sofort mehrere Führungskräfte in seiner französischen Einheit entlassen hatte, darunter auch seinen Geschäftsführer. Es gibt keine Hinweise darauf, dass in einem der anderen 52 Länder, in denen der globale Einzelhändler ein frisches Bild von stilvoller Sparsamkeit mit schwedischen Fleischbällchen serviert, eine ähnliche Überwachung stattgefunden hat.

Die Anwälte der Opfer beschrieben eine methodische Operation, die auf zwei Wegen verlief: eine, die Hintergrund- und Strafkontrollen von Bewerbern und Arbeitnehmern ohne deren Wissen beinhaltete, und eine andere, die sich an Gewerkschaftsführer und -mitglieder richtete.

Der Anwalt von Ikea, Emmanuel Daoud, bestritt, dass in den französischen Geschäften von Ikea eine systemweite Überwachung durchgeführt worden sei. Er argumentierte, dass jegliche Verletzung der Privatsphäre die Arbeit einer einzelnen Person gewesen sei, Jean-François Paris, dem Leiter des Risikomanagements der französischen Einheit.

E-Mails und Quittungen zeigten, dass Herr Paris einen Großteil der Arbeit an Jean-Pierre Fourès übergab, der Hunderte von Bewerbern überwachte und Informationen aus sozialen Medien und anderen Quellen sammelte, um die Überprüfung und Einstellung zu beschleunigen. Er führte auch Hintergrundprüfungen bei ahnungslosen Kunden durch, die sich wegen großer Rückerstattungen mit Ikea verhedderten. Er bestand darauf, dass er beim Sammeln von Hintergrundmaterial nie gegen das Gesetz verstoßen hatte.

Die Überwachung umfasste Berufstätige. In einem Fall wurde Herr Fourès beauftragt, zu untersuchen, ob der stellvertretende Direktor für Kommunikation und Merchandising von Ikea France, der sich ein Jahr lang krank hatte und sich von Hepatitis C erholt hatte, die Schwere ihrer Krankheit vorgetäuscht hatte, als Manager erfuhren, dass sie nach Marokko gereist war.

Anerkennung…Lucy Nicholson / Reuters

Carnival Cruise Line, der größte Kreuzfahrtanbieter in den USA, ist optimistisch, dass mehrere seiner in den USA ansässigen Linien bis Juli in Betrieb sein werden, teilte das Unternehmen am Mittwoch mit, als es seine Finanzdaten für das erste Quartal meldete. Das Buchungsvolumen für zukünftige Karnevalskreuzfahrten war im ersten Quartal 2021 um etwa 90 Prozent höher als im Vorquartal, was „sowohl die erhebliche aufgestaute Nachfrage als auch das langfristige Potenzial für Kreuzfahrten widerspiegelt“, so Arnold Donald, Geschäftsführer der Carnival Corporation , sagte die Muttergesellschaft der Kreuzfahrtgesellschaft in einer Erklärung am Mittwoch. Das Unternehmen meldete für das erste Quartal 2021 einen Nettoverlust von 2 Milliarden US-Dollar.
Gewerkschaften, die Mitarbeiter von zwei bekannten Podcasting-Unternehmen von Spotify, dem Audiostreaming-Riesen, vertreten, gaben am Mittwoch bekannt, dass sie ihre ersten Arbeitsverträge ratifiziert haben. Die größere der beiden Gewerkschaften mit 65 Mitarbeitern befindet sich bei The Ringer, einer Website für Sport- und Popkultur mit einem Podcasting-Netzwerk. Die zweite Gewerkschaft der Podcast-Produktionsfirma Gimlet Media beschäftigt knapp 50 Mitarbeiter. Die beiden Gruppen gehörten zu den ersten in der Podcasting-Branche, die sich gewerkschaftlich organisiert haben, und beide werden von der Writers Guild of America, East, vertreten.

Anerkennung…Nam Y. Huh / Associated Press

Die S & P 500-Futures stiegen am Donnerstag und deuteten auf einen Anstieg zu Beginn des Wall Street-Handels hin, einen Tag nachdem der Referenzindex am Vortag einen weiteren Rekord aufgestellt hatte. Die Anleger warten auf den neuesten wöchentlichen Bericht über Arbeitslosenansprüche, der ein neues Maß für eine sich stärkende Wirtschaft darstellen könnte.
Die europäischen Märkte waren überwiegend höher und die asiatischen Aktien hatten einen überwiegend positiven Tag. Die Öl-Futures waren niedriger und die Renditen für Staatsanleihen gaben nach.
Die Anleger am Mittwoch wurden von den Bemerkungen im Protokoll der Sitzung der Federal Reserve im vergangenen Monat beflügelt, wonach Richtlinien, die die Märkte und Unternehmen durch die Pandemie unterstützt haben, nicht entfernt werden sollten.
Die politischen Entscheidungsträger der Fed haben erklärt, dass sie “erhebliche weitere Fortschritte” bei der Erreichung ihrer Beschäftigungs- und Inflationsziele sehen wollen, bevor sie die akkommodierenden Maßnahmen zurückfahren.
Wöchentliche Zahlen zu Arbeitslosenansprüchen, die später am Donnerstag veröffentlicht werden sollen, stehen angesichts des wachsenden Vertrauens in Bezug auf Einstellungen in der US-Wirtschaft. Der Lohnbericht für März zeigte einen beeindruckenden Zuwachs von 916.000 Arbeitsplätzen. Aber trotz dieser Verbesserung sind in der Wirtschaft immer noch 8,4 Millionen Arbeitsplätze weniger als im Februar 2020.
Die Anleger gehen auch näher auf den Unternehmenssteuerplan von Präsident Biden ein, der darauf abzielt, in 15 Jahren bis zu 2,5 Billionen US-Dollar aufzubringen. Es beinhaltet eine strenge neue Mindeststeuer auf globale Gewinne und das Vorgehen gegen Unternehmen, die versuchen, Gewinne offshore zu verlagern.

Aktien, Anleihen und Öl

In Europa war der Handel mit dem Stoxx Europe 600 um 0,4 höher, nachdem er am Mittwoch zum Handelsschluss ein Rekordhoch erreicht hatte. In Großbritannien war der FTSE 100 ebenfalls um 0,4 Prozent höher. In Asien beendete der Hang Seng in Hongkong den Tag um 1,2 Prozent höher.
In New York stiegen die S & P 500-Futures um 0,3 Prozent, nachdem der Index am Mittwoch um 0,2 Prozent gestiegen war.
Die Öl-Futures rutschten ab, da steigende Coronavirus-Infektionen die Prognosen der Ölnachfrage belasten. Brent-Rohöl, die globale Benchmark, fiel um 0,2 Prozent auf 63 USD pro Barrel, und die US-Benchmark West Texas Intermediate fiel um 0,5 Prozent auf 59,47 USD pro Barrel.
Die Renditen 10-jähriger Schatzanweisungen gingen um mehr als 2 Basispunkte auf 1,64 Prozent zurück.

Tags Claims, climb, continued, jobless, Labor, Live, market, Showing, state, Stress, Updates

Business

‘The U.S. Economic system Will Possible Increase,’ Jamie Dimon Predicts: Reside Updates

Post author By
Post date April 7, 2021

Jamie Dimon, the chief executive of JPMorgan Chase.

Here’s what you need to know:

Credit…Jeenah Moon/Reuters

The annual letter to shareholders by JPMorgan Chase’s chief executive, Jamie Dimon, was published early Wednesday. The letter, which is widely read on Wall Street, is not just an overview of the bank’s business but also covers Mr. Dimon’s thoughts on everything from leadership lessons to public policy prescriptions.

“The U.S. economy will likely boom.” A combination of excess savings, deficit spending, vaccinations and “euphoria around the end of the pandemic,” Mr. Dimon wrote, may create a boom that “could easily run into 2023.” That could justify high stock valuations, but not the price of U.S. debt, given the “huge supply” soon to hit the market. There is a chance that a rise in inflation would be “more than temporary,” he wrote, forcing the Federal Reserve to raise interest rates aggressively. “Rapidly raising rates to offset an overheating economy is a typical cause of a recession,” he wrote, but he hopes for “the Goldilocks scenario” of fast growth, gently increasing inflation and a measured rise in interest rates.

“Banks are playing an increasingly smaller role in the financial system.” Mr. Dimon cited competition from an already large shadow banking system and fintech companies, as well as “Amazon, Apple, Facebook, Google and now Walmart.” He argued those nonbank competitors should be more strictly regulated; their growth has “partially been made possible” by avoiding banking rules, he wrote. And when it comes to tougher regulation of big banks, he wrote, “the cost to the economy of having fail-safe banks may not be worth it.”

“China’s leaders believe that America is in decline.” The United States has faced tough times before, but today, “the Chinese see an America that is losing ground in technology, infrastructure and education — a nation torn and crippled by politics, as well as racial and income inequality — and a country unable to coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals,” he wrote. “Unfortunately, recently, there is a lot of truth to this.”

“The solution is not as simple as walking away from fossil fuels.” Addressing climate change doesn’t mean “abandoning” companies that produce and use fossil fuels, Mr. Dimon wrote, but working with them to reduce their environmental impact. He sees “huge opportunity in sustainable and low-carbon technologies and businesses” and plans to evaluate clients’ progress according to reductions in carbon intensity — emissions per unit of output — which adjusts for factors like size.

Other notable news (and views) from the letter:

With more widespread remote working, JPMorgan may need only 60 seats for every 100 employees. “This will significantly reduce our need for real estate,” Mr. Dimon wrote.
JPMorgan spends more than $600 million a year on cybersecurity.
Mr. Dimon cited tax loopholes he thought the United States could do without: carried interest, tax breaks for racing cars, private jets and horse racing, and a land conservation tax break for golf courses.

This was Mr. Dimon’s longest letter yet, at 35,000 words over 66 pages. The steadily expanding letters — aside from a shorter edition last year, weeks after Mr. Dimon had emergency heart surgery — could be seen as a reflection of the range of issues top executives are now expected, or compelled, to address.

Credit…Kendrick Brinson for The New York Times

Target will spend more than $2 billion with Black-owned businesses by 2025, it announced on Wednesday, joining a growing list of retailers that have promised to increase their economic support of such companies in a bid to advance racial equity in the United States.

Target, which is based in Minneapolis, will add more products from companies owned by Black entrepreneurs, spend more with Black-owned marketing agencies and construction companies and introduce new resources to help Black-owned vendors navigate the process of creating products for a mass retail chain, the company said in a statement.

After last year’s protests over police brutality, a wave of American retailers, from Sephora to Macy’s, have committed to spending more money with Black-owned businesses. Many of them have joined a movement known as the 15 Percent Pledge, which supports devoting enough shelf space to Black-owned businesses to align with the African-American percentage of the national population.

Target’s announcement appears to be separate from that pledge. It said its commitment added to other racial-equity and social-justice initiatives in the past year, including efforts to improve representation among its work force.

Credit…Jung Yeon-Je/Agence France-Presse — Getty Images

Samsung’s sales grew by an estimated 17 percent in the first quarter from a year earlier, and operating profit increased by 44 percent, the company said on Wednesday. The South Korean electronics titan’s growth has been helped during the pandemic by strong demand for televisions, computer monitors and other lockdown staples.

The company released its latest flagship smartphones, the Galaxy S21 series, in January. In the United States, the devices handily outsold Samsung’s last line of premium phones in their first six weeks on the market, according to Counterpoint Research, which attributed the strong performance in part to Americans receiving stimulus payments.

Samsung’s handset business has also been buoyed of late by the U.S. campaign against Huawei, one of the company’s main rivals in smartphones. The Chinese tech giant’s device sales have plummeted because American sanctions prevent its phones from running popular Google apps and services, limiting their appeal to many buyers.

Another competitor, LG Electronics, said this week that it was getting out of the smartphone business to focus on other products.

Samsung’s first-quarter revenue was likely hurt by February’s winter storm in Texas, which caused the company to halt production for a while at its manufacturing facilities in Austin.

The company is expected to report detailed financial results later this month.

Credit…Jared Soares for The New York Times

Jeff Bezos, Amazon’s founder and chief executive, said on Tuesday that he supported an increase in the corporate tax rate to fund investment in U.S. infrastructure.

President Biden is pushing a plan to spend $2 trillion on infrastructure improvements, in part by raising the corporate tax rate to 28 percent, from its current rate of 21 percent.

Mr. Bezos said in a statement on Amazon’s corporate website that he applauded the administration’s “focus on making bold investments in American infrastructure.”

“We recognize this investment will require concessions from all sides — both on the specifics of what’s included as well as how it gets paid for (we’re supportive of a rise in the corporate tax rate),” Mr. Bezos said.

For years, Amazon has been a model for corporate tax avoidance, fielding criticism of its tax strategies from Democrats and former President Donald J. Trump. In 2019, Amazon had an effective tax rate of 1.2 percent, which was offset by tax rebates in 2017 and 2018, according to the Institute on Taxation and Economic Policy, a left-leaning research group in Washington. In 2020, the company paid 9.4 percent in taxes on U.S. pretax profit of about $20 billion, the group said.

The company has said in the past that it “pays all the taxes we are required to pay in the U.S. and every country where we operate.”

Companies employ varied strategies to reduce their tax liabilities. In 2017, the same federal bill that lowered the tax rate to 21 percent expanded tax breaks, including allowing the immediate expensing of capital expenditures. The goal was to lift investment, but the change also caused the number of profitable companies that paid no taxes to nearly double in 2018 from prior years.

Credit…Brian Kaiser for The New York Times

American Diesel Training, a school in Ohio that prepares people for careers as diesel mechanics, is part of a new model of work force training — one that bases pay for training programs partly on whether students get hired.

The students agree to an share about 5 percent to 9 percent of their income depending on their earnings. The monthly payments last four years. If you lose your job, the payment obligation stops.

Early results are promising, Steve Lohr reports for The New York Times, and experts say the approach makes far more economic sense than the traditional method, in which programs are paid based on how many people enroll. But there are only a relative handful of these pay-for-success programs. The challenge has been to align funding and incentives so that students, training programs and employers all benefit.

State and federal officials are now looking for new ways to improve work force development. President Biden’s $2 trillion infrastructure and jobs plan, announced last week, includes billions for work force development with an emphasis on “next-generation training programs” that embrace “evidence-based approaches.”

Social Finance, a nonprofit organization founded a decade ago to develop new ways to finance results-focused social programs, is seeking, designing and supporting new programs — for-profit or nonprofit — that follow the pay-for-success model.

“There is emerging evidence that these kinds of programs are a very effective and exciting part of work force development,” said Lawrence Katz, a labor economist at Harvard. “Social Finance is targeting and nurturing new programs, and it brings a financing mechanism that allows them to expand.”

Credit…James Estrin/The New York Times

Major U.S. and European stock indexes hovered near record highs on Wednesday after a stream of mostly upbeat economic data and the progress on vaccinations.

U.S. stock futures were little changed on Wednesday, but the S&P 500 was set to open within half a percentage point of its record. The Stoxx Europe 600 and DAX index in Germany both fell about 0.1 percent after climbing to new highs on Tuesday.

On Tuesday, the International Monetary Fund upgraded its forecast for global economic growth and said some of the world’s wealthiest countries would lead the recovery, particularly the United States, where the economy is now projected to grow by 6.4 percent this year.

The rollout of vaccines is a major reason for the rosier forecast in some countries, the I.M.F. said. President Biden said that he wanted states to make all adults eligible for vaccines by April 19, two weeks earlier than his previous deadline. In Britain, the Moderna vaccine was administered for the first time on Wednesday, making it the third vaccine available.

Still, the I.M.F. warned on Tuesday against an unequal recovery because of the uneven distribution of vaccines around the world with some lower-income countries not expected to be able to vaccinate their populations this year.

Elsewhere in markets

The yield on U.S. 10-year bonds dropped for a third straight day to 1.64 percent, the lowest in two weeks, before the Federal Reserve publishes the minutes from its mid-March meeting. Last month, policymakers released new economic projections that had the central bank’s interest rate near zero for several more years.
Oil price fell with futures for West Texas Intermediate, the U.S. benchmark, declining 0.5 percent to $59.06 a barrel.
Shares in Carnival, the cruise ship operator, rose nearly 5 percent in premarket trading after the Centers for Disease Control and Prevention said sailings could restart “hopefully, by midsummer,” Bloomberg reported. Carnival shares have already jumped 10 percent since the C.D.C. issued new guidance for the cruise industry on Friday.

Tags boom, Dimon, Economy, Jamie, Live, predicts, Updates

Business

Inventory Market Information: Reside Updates

Post author By
Post date April 6, 2021

Mickey Mantle’s 1952 Topps rookie card is one of the most sought-after cards. While a Mantle with a rating of SGC 7 like this one is valuable, a version of the same card rated PSA Mint 9 recently sold for $5.2 million.

Here’s what you need to know:

Credit…Jeenah Moon for The New York Times

Topps, known for its trading cards and Bazooka gum, is going public by merging with a blank-check firm in a deal that values the company at $1.3 billion, the DealBook newsletter was the first to report.

The transaction includes an investment of $250 million led by Mudrick Capital, the sponsor of the special purpose acquisition company, or SPAC, along with investors including Gamco and Wells Capital. Michael Eisner, the chairman of Topps and former chief executive of the Walt Disney Company, will roll his entire stake into the new company and stay on.

“Everybody has a story about Topps,” Mr. Eisner said. That’s what initially attracted him to the trading card company, which he acquired in 2007 via his investment firm, Tornante, and Madison Dearborn for $385 million. Buying Topps was a bet on a brand that elicits an “emotional connection” as strong as Disney, the company Mr. Eisner ran for 21 years.

In the years since Mr. Eisner’s initial purchase, Topps has focused on a shift to digital, starting online apps for users to trade collectibles and play games. It also created “Topps Now,” which makes of-the-moment cards to capture a defining play or a pop culture meme. (It sold nearly 100,000 cards featuring Senator Bernie Sanders at the presidential inauguration in his mittens.) And it has moved into blockchain, too, via the craze for nonfungible tokens, or NFTs.

The pandemic has driven new interest in memorabilia, especially trading cards. Topps generated record sales of $567 million in 2020, a 23 percent jump over the previous year.

The secondhand market is particularly hot, with a Mickey Mantle card recently selling for more than $5 million. “Topps probably made something like a nickel on it, 70 years ago,” said Jason Mudrick, the founder of Mudrick Capital. NFT mania will allow Topps to take advantage of the secondhand market by linking collectibles to digital tokens. Topps is also growing beyond sports, like its partnerships with Marvel and “Star Wars.”

It continues to see value in its core baseball-card business, as athletes come up from the minor leagues more quickly. “The trading card business has been growing for the last several years,” Michael Brandstaedter, the chief executive of Topps, said. “While it definitely grew through the pandemic — and perhaps accelerated — it did not arrive with the pandemic.”

That resilience is part of the bet that Mudrick Capital is making on the 80-year old Topps. It’s a surer gamble, Mr. Mudrick said, than buying one of the many unprofitable start-ups currently courting SPAC deals. “Our core business is value investing,” he said.

Credit…Andrew Harnik/Associated Press

The global economy is recovering from the coronavirus pandemic faster than previously expected, largely thanks to the strength of the United States, but the International Monetary Fund warned on Tuesday that major challenges remained as the uneven rollout of vaccines threatens to leave developing countries behind.

The I.M.F. said it was upgrading its global growth forecast for the year thanks to vaccinations of hundreds of millions of people, efforts that are expected to help fuel a sharp rebound in economic activity. The international body now expects the global economy to expand by 6 percent this year, up from its previous projection of 5.5 percent, after a contraction of 3.3 percent in 2020.

“Even with high uncertainty about the path of the pandemic, a way out of this health and economic crisis is increasingly visible,” Gita Gopinath, the I.M.F.’s chief economist, said in a statement accompanying the fund’s World Economic Outlook report.

The emergence from the crisis is being led by the wealthiest countries, particularly the United States, where the economy is now projected to expand by 6.4 percent this year. The euro area is expected to expand by 4.4 percent and Japan is forecast to expand by 3.3 percent, according to the I.M.F.

Among the emerging market and developing economies, China and India are expected to lead the way. China’s economy is projected to expand by 8.4 percent and India’s is expected to expand by 12.5 percent.

Ms. Gopinath credited the robust fiscal support that the largest economies have provided for the improved outlook and pointed to the relief effort enacted by the United States. The I.M.F. estimates that the economic fallout from the pandemic could have been three times worse if not for the $16 trillion of worldwide fiscal support.

Despite the rosier outlook, Ms. Gopinath said that the global economy still faced “daunting” challenges.

Low-income countries are facing bigger losses in economic output than advanced economies, reversing gains in poverty reduction. And within advanced economies, low-skilled workers have been hit the hardest and those who lost jobs could find it difficult to replace them.

“Because the crisis has accelerated the transformative forces of digitalization and automation, many of the jobs lost are unlikely to return, requiring worker reallocation across sectors — which often comes with severe earnings penalties,” Ms. Gopinath said.

The I.M.F. cautioned that its projections hinged on the deployment of vaccines and the spread of variants of the virus, which could pose both a public health and economic threat. The fund is also keeping a close eye on interest rates in the United States, which remain at rock-bottom levels but could pose financial risks if the Federal Reserve raises them unexpectedly.

The global economy is on firmer ground one year into the pandemic thanks to the rollout of vaccines, the International Monetary Fund said on Tuesday. But the recovery will be uneven around the world because of persistent inequality and income gaps.

“Emerging market and developing economies are expected to suffer more scarring than advanced economies,” the I.M.F. said in its World Economic Outlook report, which projected 6 percent global growth in 2021. Here are projections for the growth of some individual countries:

The United States economy will expand 6.4 percent this year, after contracting 3.5 percent the year before, while Britain will grow 5.3 percent this year, after shrinking 9.9 percent in 2020.
China, the world’s second-largest economy after the United States, is expected to grow 8.4 percent this year, after expanding 2.3 percent in 2020.
India’s economy is expected to see the biggest jump among major economies and climb 12.5 percent this year, after contracting 8 percent last year.

Credit…Chris Helgren/Reuters

United Airlines said on Tuesday that it had started accepting applications to its new pilot school, promising to use scholarships, loans and partnerships to help diversify a profession that is overwhelmingly white and male.

The airline said it planned to train 5,000 pilots at the school by 2030, with a goal of half of those students being women or people of color. The school, United Aviate Academy in Phoenix, expects to enroll 100 students this year, and United and its credit card partner, JPMorgan Chase, are each committing $1.2 million in scholarships.

About 94 percent of aircraft pilots and flight engineers are white and about as many are male, according to federal data. United said 7 percent of its pilots were women and 13 percent were not white.

Airlines have had more employees than they needed during the pandemic, when demand for tickets fell sharply, and they have encouraged thousands, including many pilots, to retire early or take voluntary leaves. Since September, nearly 1,000 United pilots had retired or taken leave. Last week, the airline said it would start hiring pilots again after stopping last year.

But the industry is facing a long-term shortage of pilots because many are nearing retirement age and many potential candidates are daunted by the cost of training, which can reach almost $100,000 after accounting for the cost of flight lessons.

United is the first major U.S. carrier to run its own pilot academy, although many foreign airlines have run such programs for years. The company said it hoped the guarantee of a job after graduation would be a draw. In addition to the 5,000 pilots it plans to train, United said it would hire just as many who learned to fly elsewhere.

United Aviate is meant for people with a wide range of experience, from novices who have never flown to pilots who are already flying for one of United’s regional partners. A student with no flying experience could become a licensed pilot within two months and be flying planes for a living after receiving a commercial pilot license within a year, the airline said. Within five years, that person could fly for United after a stint at a smaller airline affiliate to gain experience.

The airline said it was also working with three historically Black colleges and universities — Delaware State University, Elizabeth City State University and Hampton University — for recruitment. The first class of 20 students is expected to start this summer.

Credit…Christian Hartmann/Reuters

Air France on Tuesday said it would receive a new bailout from the French government worth 4 billion euros ($4.7 billion) to help the beleaguered airline cope with mounting debts as a third wave of pandemic lockdowns around Europe prolong a slump in continental air travel.

The support comes on top of €10.4 billion ($12.3 billion) in loans and guarantees that Air France and its partner, the Netherlands-based KLM, received from the French and Dutch governments last year.

Air France-KLM chief executive, Benjamin Smith, citing an “exceptionally challenging period,” said the funds would “provide Air France-KLM with greater stability to move forward when recovery starts, as large-scale vaccination progresses around the world and borders reopen.”

Bruno Le Maire, France’s finance minister, said Tuesday that the new aid is taking the form of a state-backed recapitalization, which involves converting €3 billion in loans the government granted the airline last year into bonds with no maturity, as well as €1 billion in fresh capital through the issuance of new shares.

The French government is the airline’s largest shareholder, at 14.3 percent. The agreement could allow the government to raise its stake as high as 30 percent, Mr. Le Maire and Air France said, by buying some of the new shares. China Eastern Airlines, also a large shareholder, will also participate, Air France said.

Air France-KLM lost two-thirds of its customers last year, and its debt has nearly doubled to €11 billion. It expects an operating loss of €1.3 billion in the first quarter.

As vaccinations speed ahead in the United States, air travel has started to recover, fueling a return of ticket sales. Delta Air Lines announced it would add more passengers and start selling middle seats for flights starting May 1.

By contrast, Europe’s vaccine rollout has faltered and variants of the virus have gained ground, prompting renewed travel restrictions. That has left major flagship air carriers, including Air France-KLM, Lufthansa of Germany, and Alitalia of Italy, struggling.

The French government recently cut its economic growth forecast for 2021 to 5 percent, down from 6 percent.

Air France’s board approved the deal on Tuesday after the French government and European regulators agreed on the terms.

The Dutch government is holding separate talks with European regulators over converting a €1 billion loan to KLM into hybrid debt in return for slot concessions at the Schiphol Airport in Amsterdam.

Air France employs tens of thousands of workers in France and is considered too big to fail. Still, Mr. Le Maire said the aid was not a “blank check,” adding that the company would have to “make efforts on competitiveness” in exchange for the support and must continue to reduce its carbon emissions.

To conform to European competition rules, Air France was forced to relinquish 18 slots per day, representing nine round-trips, to competing airlines at Orly, Paris’ second-largest airport after Charles de Gaulle.

Credit…Rebecca Noble for The New York Times

Some midsize cities — like Austin, Texas; Boise, Idaho; and Portland, Ore. — may be poised to rebound faster than others because they have developed strong relationships with their local economic development groups.

These partnerships have established comeback plans that incorporate a number of common goals, like access to affordable loans, relief for small businesses and a focus on downtown areas, Keith Schneider reports for The New York Times.

In Tucson, the revitalization plan, which goes into effect this month, calls for assessing the effect of the pandemic on important business sectors, including biotech and logistics. Other provisions advocate recruiting talented workers and preparing so-called shovel-ready building sites of 50 acres or more.

City leaders are building on a five-year, $23 billion growth plan in industrial and logistics development in the Tucson region that resulted in 16,000 new jobs before the pandemic, according to Sun Corridor, the regional economic development agency that sponsored the recovery plan. Caterpillar and Amazon moved into the region, while Raytheon, Bombardier and GEICO were among the many prominent companies that expanded operations there.

Other cities are struggling to recover after pandemic restrictions emptied their central business districts. The question is how much these downtowns will bounce back when the pandemic ends.

“The number of square feet per worker has declined really dramatically since 1990,” said Tracy Hadden Loh, a fellow at the Brookings Institution. Couple that with recent announcements from companies like Google, Microsoft, Target and Twitter about remote work, and some cities could see less office construction activity.

Credit…Ed Jones/Agence France-Presse — Getty Images

Starbucks says it plans to eliminate all single-use cups from its South Korean stores by 2025, the chain’s first move of this sort as it seeks to reduce its carbon footprint.

The coffeehouse chain plans to introduce a “cup circularity program” in some stores beginning this summer, in which customers would pay a deposit for reusable cups that would be refunded when the containers are returned and scanned at contactless kiosks, the company said in a statement on Monday. The arrangement will be expanded to cafes across the country over the next four years.

“Starbucks Coffee Korea is a leader in sustainability for the company globally, and we are excited to leverage the learnings from this initiative to drive meaningful change in our stores and inform future innovation on a regional and global scale,” Sara Trilling, the president of Starbucks Asia Pacific, said in the statement.

South Korea has in recent years tried to cut back on disposable waste in cafes, banning the use of plastic cups for dine-in customers in 2018. Legislation introduced last year would require fast food and coffee chains to charge refundable deposits for disposable cups to encourage returns and recycling. Last year, the environmental ministry said it planned to reduce the country’s plastic waste by one-fifth by 2025.

The increased use of plastic packaging and containers amid the coronavirus pandemic has been a setback for initiatives aimed at reducing single-use plastic waste. In March 2020, Starbucks and other chains said they would no longer offer drinks in washable mugs or customer-owned cups to help prevent the spread of the virus.

Credit…Mike Blake/Reuters

U.S. stocks dipped on Tuesday, a day after Wall Street’s major benchmarks climbed to records.

The S&P 500 dipped 0.1 percent, and the Dow Jones industrial average fell 0.3 percent.

Last week, the S&P 500 climbed above 4,000 points for the first time amid signs that the economic recovery was strengthening, with manufacturing activity quickening and the biggest jump in jobs since the summer. The United States is administering three million vaccines per day on average, but the number of coronavirus cases has started to tick up again because of the spread of new variants.

That said, many investors have focused on the vaccine rollout and the potential impact of the Biden administration’s large spending plans, including the $2 trillion American Jobs Plan, intended to upgrade the nation’s infrastructure and speed up the shift to a green economy.

“Investors should not fear entering the market at all-time highs,” strategists at UBS Global Wealth Management said in a note on Tuesday, recommending stocks in the financial, industrial and energy sectors. The reopening of economies because of the vaccine rollout also favored small and medium-size companies, they wrote.

The Stoxx Europe 600 index rose 0.7 percent to a record in its first day of trading since Thursday because of the long Easter weekend. In Britain, mining companies led the FTSE 100 up 1.3 percent. The DAX in Germany rose 0.6 percent

Asian stock indexes were mixed. The Hang Seng in Hong Kong rose 2 percent and the Nikkei 225 fell 1.3 percent.

The yield on 10-year Treasury notes slipped to 1.65 percent.

Oil prices rose. West Texas Intermediate, the U.S. crude benchmark, rose 1.2 percent to about $59.33 a barrel.

Disney Cruise Line will suspend departures through June after reviewing guidance from the Centers for Disease Control and Prevention, the company said Tuesday on its website. The C.D.C. recommends that people avoid travel on cruises worldwide because of the high risk of contracting the coronavirus aboard ship. The cruise line also canceled sailings in Europe through Sept. 18. Guests who have paid their reservations in full can choose either a credit with Disney Cruise Line for a future sailing or a full refund.

VideoCreditCredit…By Jinhwa Oh

In today’s On Tech newsletter, Shira Ovide explains why the technology industry was relieved by the Supreme Court’s ruling siding with Google over Oracle, and the ways this might be relevant for artists, writers and archivists.

Tags Live, market, News, Stock, Updates

World News

Covid-19 Reside Updates: Vaccines, Instances and Variants

Post author By
Post date April 6, 2021

Leanne Montenegro, 21, covered her eyes to avoid seeing the needle when she received the coronavirus vaccine in Miami on Monday.

Here’s what you need to know:

Credit…Lynne Sladky/Associated Press

President Biden plans to announce on Tuesday that he is speeding up the deadline for states to make all adults eligible for a coronavirus vaccine — to April 19 — according to an administration official familiar with his planned remarks.

The announcement will come as nearly every U.S. state has already heeded earlier calls by the president to accelerate their timelines for when all adult residents will be eligible to be vaccinated — the vast majority now meeting or beating the April 19 target. On Tuesday, Oregon said those who are 16 or older will be eligible for vaccination on April 19.

Mr. Biden’s newest target comes almost a month after he set an original deadline of May 1 for every state, and a week after he said that by April 19, 90 percent of adults would be eligible for a shot and within five miles of a site.

A White House official said last week that Mr. Biden revised the timeline because states, encouraged by increases in shipments, were ramping up their vaccination programs more rapidly than expected.

Mr. Biden on Tuesday plans to visit a vaccination site at Virginia Theological Seminary in Alexandria, Va., then deliver a speech at the White House on the state of vaccinations across the nation.

The U.S. vaccination campaign has steadily picked up pace: More than three million doses are being given on average each day, compared with well under one million when Mr. Biden took office in January, according to the Centers for Disease Control and Prevention. Every state has now given at least one dose to a quarter or more of its population. About 62.4 million people — 19 percent of Americans — have been fully vaccinated.

Mr. Biden has said he hopes for 200 million doses to be administered by his 100th day in office, a goal that the nation is on pace to meet. The federal government has delivered about a total of 207.9 million doses to states, territories and federal agencies since last year.

The recent burst in supply has prompted governors to move up eligibility timelines on their own weeks ahead of Mr. Biden’s original May 1 marker.

“Today, we are pleased to announce another acceleration of the vaccine eligibility phases to earlier than anticipated,” Gov. Larry Hogan of Maryland said on Monday, announcing that all Maryland residents 16 or older would be eligible from Tuesday for a vaccine at the state’s mass vaccination sites, and from April 19 at any vaccine provider in the state.

Also on Monday, Gov. Philip D. Murphy of New Jersey said residents 16 or older in his state would be eligible on April 19. Mayor Muriel Bowser of Washington said later on Monday that city residents 16 or older would also be eligible on April 19.

Public health experts have said that the vaccines are in a race against worrisome coronavirus variants that were identified in Britain, South Africa and Brazil. New mutations have continued to pop up in the United States, from California to New York to Oregon.

The shots will eventually win, scientists say, but because each infection gives the coronavirus a chance to evolve further, vaccinations must proceed as fast as possible.

As that race continues, the optimism sown by the steady pace of vaccinations may be threatening to undermine the progress the nation has made. Scientists also fear Americans could let their guard down too soon as warmer weather draws them outside and case levels drop far below the devastating surge this winter.

Cases are now rising sharply in parts of the country, with some states offering a stark reminder that the pandemic is far from over: New cases in Michigan have increased 112 percent and hospitalizations have increased 108 percent over the past two weeks, according to a New York Times database.

The United States is averaging more than 64,000 new cases each day, an 18 percent increase from two weeks earlier. That’s well below the peak of more than 250,000 new cases daily in January, but on par with last summer’s surge after reopenings in some states, like Arizona, where patrons packed into clubs as hospital beds filled up. The United States is averaging more than 800 Covid-19 deaths each day, the lowest level since November.

United States ›	United StatesOn April 5	14-day change
New cases	76,594	+20%
New deaths	530	–24%

World ›	WorldOn April 5	14-day change
New cases	505,121	+20%
New deaths	7,565	+11%

U.S. vaccinations ›

Credit…Gilles Sabrié for The New York Times

In Beijing, the vaccinated qualify for buy-one-get-one-free ice cream cones. In the northern province of Gansu, a county government published a 20-stanza poem extolling the virtues of the jab. In the southern town of Wancheng, officials warned parents that if they refused to get vaccinated, their children’s schooling and future employment and housing were all at risk.

China is deploying a medley of tactics, some tantalizing and some threatening, to achieve mass vaccination on a staggering scale: a goal of 560 million people, or 40 percent of its population, by the end of June.

China has already proven how effectively it can mobilize against the coronavirus. And other countries have achieved widespread vaccination, albeit in much smaller populations.

But China faces a number of challenges. The country’s near-total control over the coronavirus has left many residents feeling little urgency to get vaccinated. Some are wary of China’s history of vaccine-related scandals, a fear that the lack of transparency around Chinese coronavirus vaccines has done little to assuage. Then there is the sheer size of the population to be inoculated.

To get it done, the government has turned to a familiar tool kit: a sprawling, quickly mobilized bureaucracy and its sometimes heavy-handed approach. This top-down, all-out response helped tame the virus early on, and now the authorities hope to replicate that success with vaccinations.

Already, uptake has skyrocketed. Over the past week, China has administered an average of about 4.8 million doses a day, up from about one million a day for much of last month. Experts have said they hope to reach 10 million a day to meet the June goal.

“They say it’s voluntary, but if you don’t get the vaccine, they’ll just keep calling you,” said Annie Chen, a university student in Beijing who received two such entreaties from a school counselor in about a week.

Credit…Alessandro Grassani for The New York Times

A top vaccines official at the European Medicines Agency said on Tuesday that AstraZeneca’s vaccine was linked to blood clots in a small number of recipients, the first indication from a leading regulatory body that the clots may be a real, if extremely rare, side effect of the shot.

The agency itself has not formally changed its guidance, issued last week, that the benefits of the AstraZeneca vaccine outweigh the risks. It said on Tuesday that its review was ongoing and that it would announce its findings this week. But any further ruling from regulators would be a setback for a shot that Europe and much of the world are relying on to save lives amid a global surge in coronavirus cases.

The medicines agency said last week that no causal link between the vaccine and rare blood clots had been proven. Only a few dozen cases of blood clots have been recorded among the many millions of people who have received the vaccine across Europe.

But the vaccines official, Marco Cavaleri, told an Italian newspaper that “it is clear there is an association with the vaccine.” He said that it would likely remain up to individual countries to decide how to respond, given the variation in supply of Covid-19 vaccines and in the state of the virus.

Those comments represented the first indication from a member of a leading regulatory body that the blood clots could be a genuine, if extremely rare, side effect of the AstraZeneca vaccine. Previously, health officials in several European countries temporarily restricted the use of the shot in certain age groups, despite the European Medicines Agency’s recommendation to keep administering it.

Regulators in Britain and at the World Health Organization have also said that, while they were investigating any rare side effects, the shot was safe to use and would save many lives.

Mr. Cavaleri told the Italian newspaper Il Messaggero that European regulators had not determined why the vaccine might be causing the rare blood clots, which generated concern because the cases were so unusual. They involved blood clots combined with unusually low levels of platelets, a disorder that can lead to heavy bleeding.

The most worrisome of the conditions, known as cerebral venous sinus thrombosis, involves clots in the veins that drain blood from the brain, a condition that can lead to a rare type of stroke.

The clots are, by all accounts, extremely rare. European regulators were analyzing 44 cases of cerebral venous sinus thrombosis, 14 of them fatal, among 9.2 million people who received the AstraZeneca vaccine across the continent. Emer Cooke, the European Medicines Agency’s director, said that the clotting cases in younger people translated to a risk for one in every 100,000 people under 60 given the vaccine. Younger people, and especially younger women, are at higher risk from the brain clots, scientists have said.

In Britain, regulators last week reported 30 cases of the rare blood clots combined with low platelets among 18 million people given the AstraZeneca vaccine, which was developed with the University of Oxford. No such cases were reported in people who had received the Pfizer-BioNTech vaccine in Britain.

Regulators in Britain have said that people should get the vaccine “when invited to do so.” But British news reports indicated Monday night that regulators were considering updating that guidance for certain age groups.

Monika Pronczuk and Emma Bubola contributed reporting.

Credit…Edgar Su/Reuters

North Korea said on Tuesday that it had decided not to participate in the Tokyo Olympic Games this summer because of the coronavirus pandemic.

The North’s national Olympic Committee decided at a March 25 meeting that its delegation would skip the Olympics “in order to protect our athletes from the global health crisis caused by the malicious virus infection,” according to Sports in the Democratic People’s Republic of Korea, a government-run website.

It is the first Summer Olympics that the North has missed since 1988, when they were held in Seoul, the South Korean capital.

North Korea, which has a decrepit public health system, has taken stringent measures against the virus since early last year, including shutting its borders. The country officially maintains that it has no virus cases, but outside health experts are skeptical.

North Korea’s decision deprives South Korea and other nations of a rare opportunity to establish official contact with the isolated country. Officials in the South had hoped that the Olympics — to be held from July 23 to Aug. 8 — might provide a venue for senior delegates from both Koreas to discuss issues beyond sports.

The 2018 Winter Olympics, held in the South Korean city of Pyeongchang, offered similar hope for easing tensions on the Korean Peninsula. Kim Yo-jong, the only sister of North Korea’s leader, Kim Jong-un, grabbed global attention when she attended the opening ceremony, becoming the first member of the Kim family to cross the border into South Korea.

Mr. Kim used the North’s participation in the Pyeongchang Olympics as a signal to start diplomacy after a series of nuclear and long-range missile tests. Inter-Korean dialogue soon followed, leading to three summit meetings between Mr. Kim and President Moon Jae-in of South Korea. Mr. Kim also met three times with President Donald J. Trump.

But since the collapse of Mr. Kim’s diplomacy with Mr. Trump in 2019, North Korea has shunned official contact with South Korea or the United States. The pandemic has deepened the North’s diplomatic isolation and economic difficulties amid concerns over its nuclear ambitions. North Korea launched two ballistic missiles on March 25 in its first such test in a year, in a challenge to President Biden.

Since North Korea’s first Olympic appearance in 1972, it has participated in every Summer Games except for the Los Angeles event in 1984, when it joined a Soviet-led boycott, and in 1988, when South Korea played host. North Korean athletes have won 16 gold medals, mostly in weight lifting, wrestling, gymnastics, boxing and judo, consistently citing the ruling Kim family as inspiration.

The Tokyo Games were originally scheduled for 2020 but were delayed by a year because of the pandemic. The organizing committee has been scrambling to develop safety protocols to protect both participants and local residents. But as a series of health, economic and political challenges have arisen, large majorities in Japan now say in polls that the Games should not be held this summer.

Even though organizers have barred international spectators, epidemiologists warn the Olympics could still become a superspreader event. Thousands of athletes and other participants will descend on Tokyo from more than 200 countries while much of the Japanese public remains unvaccinated.

Credit…Matthew Abbott for The New York Times

Prime Minister Jacinda Ardern of New Zealand announced on Tuesday that her nation would establish a travel bubble with Australia, allowing travelers to move between the countries without needing to quarantine for the first time since the pandemic began.

The bubble, which will open just before midnight on April 19, is expected to deliver a boost to tourism and to families that have been separated since both countries enacted strict border closures and lockdown measures that have all but eliminated local transmission of the coronavirus.

The announcement came after months of negotiations and setbacks, as Australia battled small outbreaks and officials in both countries weighed testing requirements and other safety protocols.

“The director general of health considers the risk of transmission of Covid-19 from Australia to New Zealand is low and that quarantine-free travel is safe to commence,” Ms. Ardern said at a news conference.

Since last year, Australia has permitted travelers from New Zealand to bypass its hotel quarantine requirements. New Zealand’s decision to reciprocate makes the two countries among the first places in the world to set up such a bubble, following a similar announcement last week by Taiwan and the Pacific island nation of Palau.

Australians flying to New Zealand will be required to have spent the previous 14 days in Australia, to wear a mask on the plane and, if possible, to use New Zealand’s Covid-19 contact tracing app. In the event of an outbreak in Australia, New Zealand could impose additional restrictions, including shutting down travel to a particular Australian state or imposing quarantine requirements, Ms. Ardern said.

She warned that the new requirements would not necessarily free up many spaces in New Zealand’s overwhelmed hotel quarantine system, which has a weekslong backlog for New Zealanders wishing to book a space to return home. Of the roughly 1,000 slots that would now become available every two weeks, around half would be set aside as a contingency measure, while most of the others would not be appropriate for travelers from higher-risk countries, Ms. Ardern said.

Before New Zealand closed its borders to international visitors in March 2020, its tourism industry employed nearly 230,000 people and contributed 41.9 billion New Zealand dollars ($30.2 billion) to economic output, according to the country’s tourism board. Most of the roughly 3.8 million foreign tourists who visited New Zealand over a 12-month period between 2018 and 2019 came from Australia.

Ms. Ardern encouraged Australians to visit New Zealand’s ski areas, and said she would be conducting interviews with Australian media outlets this week to promote New Zealand as a tourism destination.

The bubble would also make it easier for the more than 500,000 New Zealanders who live in Australia to visit their families.

“It is ultimately a change of scene that so many have been looking for,” Ms. Ardern said, addressing Australians. “You may not have been in long periods of lockdown, but you haven’t had the option. Now you have the option, come and see us.”

Credit…Tom Pennington/Getty Images

There was no need to pipe in crowd noise at Globe Life Field on Monday, as the Texas Rangers hosted the Toronto Blue Jays in front of the largest crowd at a sporting event in the United States in more than a year.

From the long lines of fans waiting to get into the stadium to the persistent buzz of the spectators during quiet moments, the game in Arlington, Texas, was a throwback to a time before the coronavirus crippled the country.

“It felt like a real game,” Rangers Manager Chris Woodward said. “It felt like back to the old days when we had full capacity.”

The official crowd of 38,238 fans, which was announced as a sellout, represented 94.8 percent of the stadium’s 40,300-seat capacity. It topped the Daytona 500 (which allowed slightly more than 30,000 fans) and the Super Bowl (24,835), both of which were held in February, as the largest crowd at a U.S. sporting event since the pandemic began last year.

The lifting of capacity restrictions in Texas made the enormous crowd possible. And for Major League Baseball, which claims its teams collectively lost billions during a largely fanless 2020 season, it was a hopeful sign that large crowds can return to all of the league’s games before too long. The open question is whether such events can be safe as the pandemic continues.

M.L.B. requires all fans over age 2 to wear masks at games this season, but a large percentage of the fans in Arlington went maskless. That will undoubtedly raise fears of the event resulting in a spike in coronavirus cases.

Credit…Enric Catala/Wsm

Garment workers in factories producing clothes and shoes for companies like Nike, Walmart and Benetton have seen their jobs disappear in the past 12 months, as major brands in the United States and Europe canceled or refused to pay for orders after the pandemic took hold and suppliers resorted to mass layoffs or closures.

Most garment workers earn chronically low wages, and few have any savings. Which means the only thing standing between them and dire poverty are legally mandated severance benefits that are often owed upon termination, wherever the workers are in the world.

According to a new report from the Worker Rights Consortium, however, garment workers are being denied some or all of these wages.

The study identified 31 export garment factories in nine countries where, the authors concluded, a total of 37,637 workers who were laid off did not receive the full severance pay they legally earned, a collective $39.8 million.

According to Scott Nova, the group’s executive director, the report covers only about 10 percent of global garment factory closures with mass layoffs in the last year. The group is investigating an additional 210 factories in 18 countries, leading the authors to estimate that the final data set will detail 213 factories with severance pay violations affecting more than 160,000 workers owed $171.5 million.

“Severance wage theft has been a longstanding problem in the garment industry, but the scope has dramatically increased in the last year,” Mr. Nova said. He added that the figures were likely to rise as economic aftershocks related to the pandemic continued to unfold across the retail industry. He believes the lost earnings could total between $500 million and $850 million.

The report’s authors say the only realistic solution to the crisis would be the creation of a so-called severance guarantee fund. The initiative, devised in conjunction with 220 unions and other labor rights organizations, would be financed by mandatory payments from signatory brands that could then be leveraged in cases of large-scale nonpayment of severance by a factory or supplier.

Several household names implicated in the report made money during the pandemic. Amazon, for example, reported an increase in net profit of 84 percent in 2020, while Inditex, the parent company of Zara, made 11.4 billion euros, about $13.4 billion, in gross profit. Nike, Next and Walmart all also had healthy earnings.

Some industry experts believe the purchasing practices of the industry’s power players are a major contributor to the severance pay crisis. The overwhelming majority of fashion retailers do not own their own production facilities, instead contracting with factories in countries where labor is cheap. The brands dictate prices, often squeezing suppliers to offer more for less, and can shift sourcing locations at will. Factory owners in developing countries say they are forced to operate on minimal margins, with few able to afford better worker wages or investments in safety and severance.

“The onus falls on the supplier,” said Genevieve LeBaron, a professor at the University of Sheffield in England who focuses on international labor standards. “But there is a reason the spotlight keeps falling on larger actors further up the supply chain. Their behavior can impact the ability of factories to deliver on their responsibilities.”

Credit…Jeenah Moon for The New York Times

More than a year after the pandemic brought down the curtain at theaters and concert halls around the world, the performing arts are beginning to return to the stage.

A smattering of theater and comedy shows lit up New York stages over the last few days, but next week will see one of the higher-profile arts returns. The New York Philharmonic is scheduled to give its first live performance in a concert hall since the pandemic began: “a musical musing on Goethe,” at the Shed at the Hudson Yards development on April 14.

The reopenings come at a confusing moment in the pandemic. Vaccinations are rising in the United States — Saturday was the first time the country reported more than four million doses in a single day, according to data compiled by The New York Times — but so are case counts.

While new cases, deaths and hospitalizations are far below their January peak, the average number of new reported cases has risen 19 percent over the past two weeks.

Still, performance spaces are carefully starting to welcome audiences, at a fraction of their capacity. There remains much debate over what regulations to impose on attendees. In Israel, concertgoers are required to have a Green Pass, which certifies that they have been vaccinated, though enforcement can be spotty.

In New York, as at the Daryl Roth Theater, an Off Broadway venue, temperatures were checked as a small audience streamed in for an immersive sound performance based on the José Saramago novel “Blindness” — a dystopian tale from 25 years ago whose resonances eerily align with the present. Mayor Bill de Blasio, masked and sneaker-clad, greeted some theatergoers on the sidewalk outside with wrist and elbow bumps.

But that optimism has been tinged with more halting news that underscores how fragile these reopenings are.

The Park Avenue Armory had to postpone one of the most high-profile experiments to bring indoor live performance back to New York. A sold-out run of “Afterwardsness,” a new piece that addresses the pandemic and violence against Black people, was canceled after several members of the Bill T. Jones/Arnie Zane Company tested positive for the virus.

At the Comedy Cellar, a Greenwich Village club that has nursed the early careers of many comics, laughter filled the room for its first show, but reminders of reality were impossible to miss: Performers’ microphones were swapped out between each set, every fresh one covered with what looked like a miniature shower cap.

John Touhey, 27, said that his reason for coming was simple. “Just to feel something again,” he said.California officials have announced guidelines for indoor concerts, theater, sports and other events, which will be permitted beginning April 15. Capacity will be linked to a county’s health tier.

Los Angeles County, for example, on Monday moved into the orange tier, which would allow venues that hold up to 1,500 people to operate at 15 percent capacity, or 200 people. The number rises to 35 percent if all attendees are tested or show proof of vaccination.

In Minneapolis, pandemic-weary music fans may have to wait longer, but the results will be louder. First Avenue, a legendary club, last month booked its first new, non-postponed show since the pandemic began, The Star Tribune reported. The band is Dinosaur Jr., led by J. Mascis, one of the most durable indie rockers of the last 30 years. The show is scheduled for Sept. 14.

Credit…Andrew Testa for The New York Times

Minority communities in Britain have long felt estranged from the government and medical establishment, but their sense of alienation is suddenly proving more costly than ever amid a coronavirus vaccination campaign that depends heavily on trust.

With Britons enjoying one of the fastest vaccination rollouts in the world, skepticism about the shots remains high in many of the communities where Covid-19 has taken the heaviest toll.

“The government’s response to the Black, Asian and minority ethnic communities has been rather limited,” said Dr. Raja Amjid Riaz, 52, a surgeon who is also a leader at the Central Mosque of Brent, an ethnically diverse area of North London. “Those people have not been catered for.”

As a result, communities like Brent offer fertile ground for the most outlandish of vaccine rumors, from unfounded claims that they affect fertility to the outright fabrication that shots are being used to inject microchips.

With the government seen as still disengaged in Black, Asian and other ethnic minority communities even as they have been hit disproportionately hard both by the virus itself and by the lockdowns imposed to stop its spread, many local leaders like Dr. Riaz have taken it upon themselves to act.

Some are well-known and trusted figures like religious leaders. Others are local health care workers. And still others are ordinary community members like Umit Jani, a 46-year-old Brent resident.

Mr. Jani’s face is one of many featured on 150 posters across the borough encouraging residents to get tested for the virus and vaccinated, part of a local government initiative.

The goal is to reframe the community’s relationship with the power structure, and perhaps establish some trust.

“In Brent, things have been done to communities and not in partnership,” said Mr. Jani, who said he had seen the toll the virus has taken on the area’s Gujarati and Somali communities.

Credit…Andrew Seng for The New York Times

For most Americans, the third stimulus payment, like the first two, arrived as if by magic, landing unprompted in the bank or in the mail.

But it’s not as straightforward for people without a bank account or a mailing address. Or a phone. Or identification.

Just about anyone with a Social Security number who is not someone else’s dependent and who earns less than $75,000 is entitled to the stimulus. But some of the people who would benefit most from the money are having the hardest time getting their hands on it.

“There’s this great intention to lift people out of poverty more and give them support, and all of that’s wonderful,” said Beth Hofmeister, a lawyer for the Legal Aid Society’s Homeless Rights Project. “But the way people have to access it doesn’t really fit with how most really low-income people are interacting with the government.”

Interviews with homeless people in New York City over the last couple of weeks found that some mistakenly assumed they were ineligible for the stimulus. Others said that bureaucratic hurdles, complicated by limited phone or internet access, were insurmountable.

Paradoxically, the very poor are the most likely to pump stimulus money right back into devastated local economies, rather than sock it away in the bank or use it to play the stock market.

“I’d find a permanent place to stay, some food, clothing, a nice shower, a nice bed,” said Richard Rodriguez, 43, waiting for lunch outside the Bowery Mission last month. “I haven’t had a nice bed for a year.”

Mr. Rodriguez said he had made several attempts to file taxes — a necessary step for those not yet in the system — but had given up.

“I went to H&R Block and I told them I was homeless,” he said. “They said they couldn’t help me.”

Credit…Emily Elconin/Reuters

U.S. coronavirus cases have increased again after hitting a low late last month, and some of the states driving the upward trend have also been hit hardest by variants, according to an analysis of data from Helix, a lab testing company.

The country’s vaccine rollout has sped up since the first doses were administered in December, recently reaching a rolling average of more than three million doses per day. And new U.S. cases trended steeply downward in the first quarter of the year, falling almost 80 percent from mid-January through the end of March.

But during that period, states also rolled back virus control measures, and now mobility data shows a rise in people socializing and traveling. Amid all this, more contagious variants have been gaining a foothold, and new cases are almost 20 percent higher than they were at the lowest point in March.

“It is a pretty complex situation, because behavior is changing, but you’ve also got this change in the virus itself at the same time,” said Emily Martin, an epidemiologist at the University of Michigan School of Public Health.

Michigan has seen the sharpest rise in cases in the last few weeks. B.1.1.7 — the more transmissible and more deadly variant of the coronavirus that was first discovered in Britain — may now make up around 70 percent of all of the state’s new cases, according to the Helix data.

Higher vaccination rates among the country’s older adults — those prioritized first in the vaccination rollout — mean that some of those at highest risk of complications are protected as cases rise again.

But almost 70 percent of the U.S. population has still not received a first dose, and only about half of those ages 65 and older are fully vaccinated. And in many states, those with high-risk conditions or in their 50s and 60s had not yet or had only just become eligible for the vaccine when cases began to rise again, leaving them vulnerable.

Global Roundup

Credit…Oliver Dietze/DPA, via Associated Press

The tiny German state of Saarland, home to around 990,000 people, is making a cautious return to a new kind of normal in a pilot project that state officials hope could show how to keep the local economy open while controlling infections. From Tuesday, residents who test negative for the coronavirus will be able to use outdoor dining areas, gyms and movie theaters and even attend live theater performances.

Even as cases have continued to rise in Germany, prompting calls for a harsher national lockdown to halt a third wave of the pandemic — which has already shut down many of its European neighbors.

“More vaccinating, more testing, more mindfulness, more options: That’s the formula we want to use as Saarland break new ground in the fight against the coronavirus pandemic,” Tobias Hans, the governor of the state in southwestern Germany, said last week as he announced the reopening plans.

Under the guidelines, as many as 10 people can meet outdoors, and anyone with a negative test result within the previous 24 hours can visit stores, gyms, theaters and beer gardens — places that have largely been closed across Germany since the country announced a “lockdown light” in November.

(Many stores have been open since March, when a court overturned the rules.)

The Saarland project begins the same day that new regulations require travelers from the Netherlands to present a negative coronavirus test to cross the border into Germany. Travelers from the Czech Republic, France and Poland face similar measures.

In other news from around the world:

The new leader of Tanzania said she would set up a committee to look into the coronavirus pandemic in the country — a sharp departure from her predecessor’s stance. “We cannot isolate ourselves as an island,” President Samia Suluhu Hassan said in a speech on Tuesday in the port city of Dar es Salaam. Tanzania has not shared data on the coronavirus with the World Health Organization since April, and it has reported just 509 cases and 21 deaths, figures that have been widely viewed with skepticism. President John Magufuli, who died last month, had scoffed at masks and social distancing measures, argued that “vaccines don’t work,” and said that God had helped the country eliminate the virus.
The World Health Organization does not support requiring vaccination passports for travel, a spokeswoman said on Tuesday during at a news briefing in Geneva, Switzerland.

“At this stage we would not like to see the vaccination passport as a requirement for entry or exit because we are not certain at this stage that the vaccine prevents transmission,” the spokeswoman, Margaret Harris, said, according to Reuters. She also cited concerns over the “question of discrimination against the people who are not able to have the vaccine for one reason or another.”

Tags cases, Covid19, Live, Updates, vaccines, Variants