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Health

As demand surges within the U.S., counties reopen virus testing websites.

As the delta variant of the coronavirus spreads in the United States, some counties are opening community testing sites that they closed last spring when case numbers fell and attention shifted to vaccination.

The demand for tests has increased over the past month. By the end of July, an average of nearly 900,000 coronavirus tests were being performed daily, compared with 500,000 to 600,000 per day at the beginning of the month, according to the U.S. Department of Health.

Several factors are likely to be responsible for the increase, including the spread of the highly contagious Delta variant and new mandates that oblige unvaccinated people to frequent tests. The Centers for Disease Control and Prevention also recently changed their guidelines for vaccinated people, recommending that they be tested if they are exposed to the virus, even if they don’t have symptoms.

Testing has been a hotspot for the United States since the pandemic began. A faulty test, official bureaucracy and delivery bottlenecks initially led to long queues at the test locations and days of waiting for results.

Officials eventually ironed out some of those kinks, and as infections skyrocketed last year, state-run mass testing sites sprang up across the country offering free virus tests to all comers. However, some delays and problems persisted even as capacities increased.

When the vaccines were approved, many large testing centers were converted into vaccination centers and some were closed altogether. Virus testing has largely shifted to the private sector – for example, local pharmacies and commercial laboratories.

“There are far fewer test sites, public test sites, than there were six months ago,” said Mara Aspinall, an expert in biomedical diagnostics at Arizona State University. “So that’s a matter of concern to me.”

After residents began reporting a three-day wait for test appointments at pharmacies in Hillsborough County, Florida, the county opened two free, walk-in test locations last weekend. Officials had planned to run around 500 tests per day at each site and ended up doing almost twice as many, said Kevin Watler, a Florida Department of Health spokesman.

“It’s been very, very busy,” he said. “So the demand is definitely there.”

Many other test sites are emerging in Florida, where the virus is on the rise, as well as across the country. In California, San Diego County added five new test sites last week after traffic increased at its existing sites, officials said.

Other locations are expanding opening hours at testing sites or setting up pop-up testing clinics, and some combine their testing and vaccination services. Last week the Delaware Department of Public Health announced it would begin offering testing at its vaccination sites and is opening a new drive-through testing and vaccination site in New Orleans.

“With the fourth and worst surge in Covid-19 in Louisiana, we need to take a multi-pronged approach to combating the virus,” said Dr. Jennifer Avegno, the director of the New Orleans Department of Health, in a statement. “Masks slow the spread, tests identify cases and pandemic trends, and vaccines prevent hospitalizations and deaths. It only makes sense to put these resources in one place so that residents can access the tools they need for their safety in one place. “

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Health

Covid vaccine mandates sweep throughout company America as delta surges

United Airlines ramp services worker John Dalessandro receives a COVID-19 vaccine at United’s onsite clinic at O’Hare International Airport on March 09, 2021 in Chicago, Illinois.

Scott Olson | Getty Images

The U.S. government may not require that everyone get Covid-19 vaccines, but large employers across corporate America are stepping into the void.

More than a dozen large U.S. corporations, including Walmart, Google, Tyson Foods and United Airlines, have recently announced vaccine mandates for some or all of their workers.

“With rapidly rising COVID-19 case counts of contagious, dangerous variants leading to increasing rates of severe illness and hospitalization among the U.S. unvaccinated population, this is the right time to take the next step to ensure a fully vaccinated workforce,” Dr. Claudia Coplein, Tyson’s chief medical officer, said in a statement Tuesday.

The U.S. reported a seven-day average of more than 108,600 new cases per day as of Sunday, up 36% from a week earlier, according to data from Johns Hopkins University. With 83% of sequenced coronavirus cases nationwide stemming from the delta variant, according to Centers for Disease Control and Prevention estimates, vaccinations are seen by health officials and corporate management as the safest way to get employees who have been working remotely back to the office.

Though some employers now unilaterally mandate vaccines, most have limited the scope of their guidance to certain offices or specific groups of workers.

Google and Facebook have mandated Covid immunizations for anyone returning to their U.S. offices. Walmart, which has 1.6 million U.S. employees, has imposed a vaccine mandate for all corporate and management staff, while store employees must wear masks in high-risk counties.

Walmart CEO Doug McMillon outlined the retailer’s plans to keep “gradually coming back into our office spaces with the idea of being closer to pre-pandemic levels after Labor Day.”

In April 2020, a Gallup poll found that 70% of employees surveyed were working from home. Companies are attempting to bring their workforce back into the office, but some have already begun pushing back their return dates as Covid case counts surge. Late last month, Google postponed its return to office deadline to Oct. 18, a delay of more than a month.

“Although I’m not a big fan of mandates, we need to use a variety of incentives to encourage as many people as possible to practice effective infection control,” said Dr. Stephen Morse, a professor of epidemiology at the Columbia University Irving Medical Center. “If that’s the best or only way to motivate some people, then that’s one tool in our toolbox.”

United Airlines said Friday that all of its roughly 67,000-person U.S. employees must provide proof that they are vaccinated against Covid no later than Oct. 25, becoming the country’s first major airline to issue such a mandate. Employees risk termination if they don’t comply, though United said there will be exemptions for religious or medical reasons.

“We know some of you will disagree with this decision to require the vaccine for all United employees,” United Airlines’ CEO Scott Kirby and the airline’s president, Brett Hart, wrote to employees announcing the vaccine requirement. “But, we have no greater responsibility to you and your colleagues than to ensure your safety when you’re at work, and the facts are crystal clear: everyone is safer when everyone is vaccinated.”

Budget carrier Frontier Airlines followed suit hours later with its own mandate but said employees either need to show proof of inoculation by Oct. 1 or take regular Covid tests.

For better or worse, vaccines and other tools to fight the virus such as masks, have become controversial in the U.S. But health officials say the measures are necessary to save lives.

“To leave it up to the individual is to say that there are people who are going to make a choice that puts co-workers at risk,” said Dr. Paul Offit, an infectious disease physician at the Children’s Hospital of Philadelphia. “So I think it’s a responsible, important, necessary thing to do.”

Even companies with the most expansive mandates are required by law to allow some exceptions.

Facebook’s vice president of people, Lori Goler, said the company of nearly 59,000 global employees will have a process in place for people who can’t be vaccinated for medical or other reasons and that it’s working with experts “to ensure our return to office plans prioritize everyone’s health and safety.”

The Alphabet Workers Union, which represents over 800 employees across Google and its parent company, expressed concern over the exceptions to Google’s vaccine mandate, saying the company has provided insufficient details surrounding the exemption process. A spokesperson for the union said the mandate exists “to convince white collar workers to come back to the office,” while “a boatload of people” remain unvaccinated.

Google did not respond to a request for comment. Alphabet employed over 135,000 employees worldwide as of last year.

Other companies have faced pushback from unions on their vaccine directives. After Tyson announced last week that all 120,000 of its office and plant personnel must get vaccinated, United Food and Commercial Workers, which represents 24,000 Tyson meatpacking workers, voiced reservations about mandating vaccines that lack the FDA’s full approval.

“UFCW will be meeting with Tyson in the coming weeks to discuss this vaccine mandate and to ensure that the rights of these workers are protected, and this policy is fairly implemented,” UFCW International President Marc Perrone said in a statement. Perrone added that he wanted to ensure Tyson’s union workers receive paid time off to receive and adjust to the vaccine.

United and its pilots’ union, the Air Line Pilots Association, agreed earlier this year not to implement a vaccine mandate for its nearly 13,000 aviators. United offered extra pay to pilots who received the vaccine and up to three days off for flight attendants. More than 90% of the pilots and about 80% of flight attendants are inoculated, the company said. The union said that some aviators who don’t plan to get vaccinated should talk with their pilot chief.

“The vaccine requirement represents an employment change we believe warrants further negotiations to ensure our safety, welfare, and bargaining rights are maintained, the pilots union said.

Other airlines including American, Southwest and Delta said they have not made any changes to their policies to encourage, but not mandate, vaccines for their employees. In May, Delta was the first major carrier to require the vaccine for new employees. United had followed suit. American and Delta have offered incentives like extra time off for employees who get vaccinated. Delta says more than 73% of its staff is vaccinated.

When asked how it would react to a potential companywide requirement, Dennis Tajer, a spokesman for the Allied Pilots Association, which represents some 15,000 pilots at American, said: “Our position is it’s a personal choice between pilots and their medical professional. As the bargaining agent for the pilots, any change to the conditions of employment must be discussed with the representative union.” The union last week, however, urged pilots to get vaccinated and estimated in a staff note that about 60% of them are inoculated.

By mandating inoculations, corporate America is taking action in a way federal legislators cannot, said Dorit Reiss, a professor at UC Hastings College of the Law. Outside of requiring vaccines for its own employees, Reiss said the federal government “probably doesn’t have the power to say everybody in the U.S. has to get vaccinated or pay a fine.”  

But insurance agencies might, a recent op-ed by Dr. Elisabeth Rosenthal and Glenn Kramon in The New York Times suggests. In the model of policies that deny coverage for injuries sustained during dangerous activities, the authors indicate that insurers could start “penalizing the unvaccinated” because their refusal to immunize poses a threat to public health. Rosenthal is editor in chief of Kaiser Health News and Kramon is a lecturer at the Stanford Graduate School of Business.

Companies also have the Equal Employment Opportunity Commission on their side, said Thomas Lenz, a professor at the University of Southern California Gould School of Law. As long as their mandates abide by the Americans with Disabilities Act and the Civil Rights Act of 1964, the commission said in May, companies could require “all employees physically entering the workplace to be vaccinated” against the coronavirus.

Despite the EEOC’s guidance, some businesses are still refraining from issuing mandates for fear of alienating their personnel, Lenz said.

“We see that employers are as concerned with what they perceive as a skill shortage, a labor shortage, as anything in deciding whether to mandate the vaccinations,” Lenz said. “And for that reason, employers don’t want to scare people away, as they feel they might be able to accommodate and keep the workforce in some other way.”

-CNBC’s Nate Rattner contributed reporting.

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World News

Europe’s journey trade determined as Covid surges

In 2020, workers will carry scaffolding on the beach “Paradise” on the Greek Cycladic island of Mykonos. The island has traditionally been overcrowded with wealthy foreigners, but it turned into a ghost island last year.

ARIS MESSINIS | AFP | Getty Images

During the Covid-19 pandemic, perhaps no other industry was hit harder than the global travel and tourism sector, as planes grounded, resorts closed, and carefree vacations are a distant memory for most of us.

Some countries in Europe – Greece, Spain, and Portugal, for example – rely on tourism to fuel economic growth, with the prosperity of thousands of businesses, livelihoods, and communities tied to the success or failure of the season.

With Covid vaccinations rolled out across the region since late 2020, there were high hopes that Europe could look forward to a recovery in summer tourism this year.

Instead, the season looks very uncertain, as the delta variant is increasing in Europe and stipulating a multitude of different rules and restrictions, traffic light systems, country risk profiles as well as possible quarantines and entry requirements for vaccines.

Fourth wave?

Traveling within Europe these days is in many ways not for the faint of heart. The Covid infection rate has increased across the region as the highly contagious Delta variant has conquered the globe.

As with the previous Alpha variant (which Delta has now usurped), the UK was something of a harbinger of doom when it came to what the rest of Europe could expect. The UK saw another wave of Covid caused by the alpha variant earlier this year and is now seeing another wave with Delta.

Despite efforts on the continent to contain the variant, the inevitable spread has occurred, with the strain now accounting for the majority of new infections from country to country.

The Netherlands and Spain have seen large spikes in cases, largely due to the night sector, after both countries reopened their nightclubs in late June, only to reverse course two weeks later. Meanwhile, France announced earlier this week that it was entering a fourth wave of the pandemic, with government spokesman Gabriel Attal sounding the alarm:

“We have entered a fourth wave. The epidemic dynamics are extremely strong. We are seeing a faster wave and a bigger surge than any previous … the incidence rate continues to explode … So big, so sudden, we have that not seen since the beginning of the pandemic, “said Attal on Monday.

Tourism and airline stocks took a hit earlier this week as global markets slumped on renewed fears about the global recovery. EasyJet and Ryanair, well-known low-cost airlines in Europe, were among the stocks that posted significant price losses. EasyJet’s shares, for example, traded at 842.20 pence on Friday but fell to 758.20 pence early Monday afternoon.

Easyjet CEO Johan Lundgren told CNBC on Tuesday that the travel sector was facing an “extremely challenging” situation, but that vaccination programs in Europe were key to reopening. The data shows that two doses from Pfizer-BioNTech or AstraZeneca-Oxford University are effective against the Delta variant, reducing the risk of hospitalization and death.

“We always knew that [the recovery] shouldn’t be a straight line … But we see the restrictions lifted. But it is absolutely right that when you open up societies and communities, infections also increase. The question is whether the vaccinations make the link between [infection and] severe hospitalization and death, and luckily it looks like it, “Lundgren told CNBC’s Squawk Box Europe.

Complex trips

Anyone planning a last-minute European vacation this year should expect an often confusing, complex, and quite stressful experience – even before you get off the plane.

As a general example of the complexities of vacationing in these troubled times, let’s take traveling from the UK to Greece – a vacation that 3.4 million Britons took in 2019, as official statistics show:

Greece allows UK visitors if they can provide evidence of a negative Covid-19 PCR test performed within 72 hours of arriving in the country or evidence of a negative rapid antigen test performed by an authorized laboratory within the 48 hour before the scheduled flight; or proof of two doses of a Covid vaccine completed at least 14 days prior to travel.

Before entering Greece, however, you must fill out a passenger search form with your vaccination status, your vacation address and the next of kin no later than 11:59 p.m. (local time) the previous day. Then vacationers must take a PCR test and fill out another passenger locator form before returning to the UK, and then have another PCR test or 10 day quarantine within two days of their return to the UK.

All of that, and Greece is actually one of the easier places to vacation this year.

Like its fellow Europeans, Greece has not escaped the somewhat inevitable spike in Covid cases as the economy (especially the island’s night economy) has opened up. Still, the daily number of cases seems small compared to France or the UK. On Wednesday, Greece reported 2,972 new cases, 19 of which were located after controls at the country’s borders.

Busier times in Paliouri Beach, Greece: this picture was taken in 2017 which was considered one of the busiest summers in terms of visitor arrivals.

NurPhoto | NurPhoto | Getty Images

Wolfango Piccoli, co-president of the Teneo Intelligence risk advisory service, stated on Wednesday that the resurgence of Covid-19 in Greece “brings with it new challenges, particularly with regard to another lean tourist season and the following economic consequences”, circumstances that Put pressure on Prime Minister Kyriakos Mitsotakis.

“Mitsotakis had hoped to leave the pandemic behind this summer when his center-right government reached the middle of its four-year return to growth. However, the Covid-19 numbers have risen significantly in recent weeks and the important tourism sector is already pushing for more government support in the fall, fearing that visitor numbers will be even more disappointing this year, “said Piccoli.

As the Delta variant gradually became more dominant, Piccoli noted that Greece was puzzled as “the number of daily vaccinations has fallen below 100,000 this month, despite the government incentivizing Greeks between the ages of 18 and 25 150 euros (177 US dollars) offers vaccinated. “

So far, only about 120,000 of an estimated 980,000 Greeks in this age group have been vaccinated.

Immunization rates in the general population have reached nearly 52% for at least one dose of the vaccine and nearly 44% for full vaccination, Piccoli noted, adding that “the recent slower uptake has cast doubt on the government’s ability to meet its vaccination goal.” 70-75% of the adult population by the end of summer. “

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Health

Europe struggles to interrupt freed from Covid restrictions as delta variant surges

People celebrated the end of the coronavirus curfew in Barcelona, Spain, on May 9, 2021. Now, Catalonia is reimposing restrictions amid a surge in Covid cases.

NurPhoto | NurPhoto | Getty Images

LONDON — Europe is struggling to contain a surge in Covid-19 cases caused by the delta variant, but while several countries reimpose measures to control the spread, the U.K. is taking the plunge and lifting restrictions.

From residual vaccine skepticism in some countries, to surges in infections linked to nightlife resuming, Europe is having to contend with competing needs: the reopening of crucial economic sectors this summer, while at the same time, curbing surging cases.

It’s not an easy balance to strike and, erring on the side of caution, a number of countries – including France, the Netherlands, Greece and Spain – announced new restrictions on Monday in a bid to curb the rise in infections, particularly among younger people who are the last in the queue to be vaccinated against Covid.

Mandatory vaccines?

In France, President Emmanuel Macron announced that for health and care workers, vaccines would be mandatory, and that a “health pass” (an app showing one’s vaccination status or recent negative test) would soon be required to access culture or leisure venues of a larger capacity. From August, the pass will be mandatory to access cafes, restaurants, malls, planes and trains in France. Lastly, in a bid to encourage vaccination take-up, PCR tests will stop being free from the fall unless they’re part of a prescription.

“If we do not act today, the number of cases will continue to rise sharply, and will inevitably lead to increased hospitalizations from the month of August,” Macron told the public in a televised address.

Similarly, Greece’s Prime Minister Kyriakos Mitsotakis also gave a televised address Monday in which he announced that Covid shots would be mandatory for nursing home and healthcare workers and that only vaccinated people will be allowed indoors in bars, cinemas, theaters and enclosed spaces.

Greece, like France, has struggled to encourage vaccine take up among more skeptical members of the public.

Imploring people to take up Covid shots, Mitsotakis said: “The country will not be shut down again by the attitude of some. It will give freedom to many. And protection for all. Because it is not Greece that is in danger, but the unvaccinated Greeks.”

Danny Altmann, professor of immunology at Imperial College London, told CNBC Tuesday that the divergent approaches showed just how nuanced the issue was.

“[It illustrates] how difficult it is and hard for any policy makers and scientists to make assertions against such a formidable and unpredictable foe,” he said. “We make predictions at our peril.”

Nightlife

The highly-transmissible delta variant of the coronavirus is reeking particular havoc among Europe’s younger populations as economies had started to allow their nightlife leisure venues to reopen, some after many months of closure. Vaccination rates among younger people lag in the region, however, with many only just being invited to receive their first dose.

While countries like France and Greece are still struggling to convince everyone to get the vaccine, other countries are rushing to administer shots to younger people, seen as both vectors of the virus through socializing, and more vulnerable given their partial or unvaccinated status.

A study in the U.K. in May found that two doses of either the Pfizer-BioNTech or AstraZeneca-University of Oxford vaccine give effective protection against the delta Covid variant, first discovered in India. Having just one dose, or being unvaccinated, makes individuals far more vulnerable to infection, however.

Rising Covid infections saw Dutch Prime Minister Mark Rutte admit on Monday that Covid restrictions had been lifted too soon at the end of June. On Monday, 8,522 new Covid cases were confirmed and on Saturday, the country reported its highest number of cases since Christmas.

Rutte’s comments came after the government conceded it was caught off-guard by the rising infection rate. It announced Friday that it would have to reimpose rules on bars and restaurants and close nightclubs, just days after they were reopened, in a bid to curb the spread among younger people.

Spain has also had to backtrack on the lifting of measures. On Monday, officials said the country’s two-week Covid-19 contagion rate was still rising, more than tripling in two weeks, Reuters reported. However, health emergency chief Fernando Simon said the pace of increase had reduced in recent days and the latest wave could be nearing its peak.

Nonetheless, new restrictions were announced in Catalonia and Valencia last week, including the closure of most night-time venues, as well as limits on social gatherings. In Valencia, the regional government asked its court to authorize a curfew on towns with more than 5,000 inhabitants that are considered high-risk, including on its capital Valencia and tourist favorite Benicassim.

For its part, Germany is seeing a slow rise (albeit from a low level) in Covid infections as many parts of the country relax restrictions.

There is a reluctance among officials (including Chancellor Angela Merkel and Foreign Minister Heiko Maas) to continue restrictions any longer than necessary. Nonetheless, the country is watching what’s happening in neighboring nations carefully. 

Since Sunday, Germany has imposed stricter restrictions on visitors from Spain who must now present proof of vaccination against Covid, proof of recent recovery from the virus or negative test results otherwise they must quarantine on arrival.

In sharp contrast, the UK

In sharp contrast to its continental cousins, the U.K. government confirmed on Monday that it will lift its remaining restrictions on July 19, despite its own infection rate remaining high, Over 34,000 new cases were reported in the U.K. Monday, marking the sixth consecutive day that Covid infections have been above 30,000.

Speaking in Parliament, Health Secretary Sajid Javid said that after monitoring the latest data, the government does not expect Covid infection rates to put unsustainable pressure on the National Health Service.

“We firmly believe that this is the right time to get our nation closer to normal life,” Javid said.

“Now, to those who say: Why take this step now? I say, if not now, when? There will never be a perfect time to take this step because we simply cannot eradicate this virus.”

Professor Altmann said the U.K.’s strategy was “a gamble,” but noted that, with its advanced vaccination program, the country was not in the same place as in the start of the year when the alpha variant emerged.

“Because of the vaccine we’re in a different place but let’s not construe that as meaning that the NHS isn’t under pressure or NHS doctors aren’t terrified of another wave. There are still dangers out there,” he said.

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Business

AMC buying and selling frenzy triggers buying and selling halts as inventory surges greater than 80%

AMC multiplex movie theater.

NicolasMcComber | Getty Images

Shares of AMC Entertainment were briefly halted Wednesday after jumping more than 90% as the meme stock rally continues.

As trading resumed briefly only to be halted once more. At one point AMC shares changed hands as high as $61.90, far above its previous intraday high of $36.72, which occurred on Friday. Its closing record is $35.86, set on March 23, 2015, according to FactSet data.

Shares were trading at a brisk pace. More than 350 million shares have traded hands so far Wednesday. Its 30-day average volume is 143 million shares.

The stock frenzy comes despite a report that a hedge fund had sold its stake in the movie theater company. On Tuesday, AMC reported it had sold 8.5 million newly issued shares to Mudrick Capital, the latest in a series of capital raises for the stock, a favorite of Reddit traders. The hedge fund later turned around and sold all of its AMC stock for a profit, according to Bloomberg News.

AMC said in a securities filing that it raised $230.5 million through a stock sale to the investment firm. The movie theater operator said it would use the funds for potential acquisitions, upgrading its theaters and deleveraging its balance sheet.

AMC’s business was effectively halted during the pandemic, as cinemas were shuttered in most of the country for months. With no money coming in from ticket sales and concessions, AMC fell behind on its rent. On the brink of bankruptcy, short sellers swarmed the stock.

Retail investors inspired by Reddit chats have used their growing numbers to fight back. Last week, investors shorting the stock were estimated to have lost $1.23 billion as the shares rallied more than 116%, according to data from S3 Partners. The stock is up more than 2,800% year to date.

The company has been making special efforts to communicate with this new investor base. On Wednesday, it said it launched a new portal on its website for its retail investors. The site includes special offers, including a tub of free popcorn and exclusive movie screenings.

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Business

Uber and Lyft Surges: What to Know

A few weeks after receiving the second dose of a coronavirus vaccine, Debora Lima returned to an old routine: She pulled out her phone and requested an Uber ride so she could meet friends for dinner.

But instead of getting a ride within five minutes as she had expected, Uber surprised Ms. Lima with a 19-minute wait and a pricey fare. It wasn’t a one-time glitch. Ms. Lima, a 28-year-old Miami resident, used to plan on spending $100 a month for frequent Uber trips. Just two recent rides ate through half of her monthly budget.

As the coronavirus pandemic appears to recede in the United States and more people return to traveling, socializing and using ride-hailing apps, they are discovering that those cheap and quick rides have become more costly and not so readily available. Customers around the country say they have been startled by the price jumps. In some cases, they say, their Uber rides from airports cost as much as their plane tickets.

Uber and its top rival, Lyft, acknowledge that prices are up and wait times are longer, but they won’t provide specifics. A recent analysis by the research firm Rakuten Intelligence found that the cost of a ride was 37 percent higher in March than it was a year ago. In April, the cost was up 40 percent.

Like many other industries, the ride-hailing outfits say prices are up because they can’t find enough workers. But more than most other types of companies, Uber and Lyft can nimbly pass the cost of finding those workers — in their case, drivers who are treated as contractors — directly to their customers.

When there aren’t enough drivers to meet demand, the companies pay them more, sometimes resorting to so-called surge pricing to lure drivers to areas where demand is high. Some recent surges have made prices jump 50 percent or more, said Daniel Ives, managing director of equity research at Wedbush Securities. Surge pricing can be a boon for drivers, but it sometimes provokes outrage from riders, especially during holidays and large events when demand can send prices soaring.

“By Uber and Lyft organizing themselves with the drivers being contractors, in a sense they have put the riders in the position of employing these contractors,” said Wendy Edelberg, the director of the Hamilton Project and a senior fellow at the Brookings Institution. “Every time we open our Uber app, maybe we feel a little bit like the small business that can’t fill the vacancy after putting up the ‘Help Wanted’ sign.”

Uber and Lyft have poured money into extra incentives for drivers, like cash bonuses for completing a certain number of rides. But the incentives do not appear to be as effective as they were before the pandemic. Some drivers said they aren’t back on the road because they are still afraid of getting sick.

Other financial incentives might also be dissuading drivers. Although they would not normally receive unemployment insurance because they are categorized as independent contractors, Uber and Lyft drivers are eligible for Pandemic Unemployment Assistance funds under the CARES Act, easing the financial pressures that might otherwise have forced them to get back behind the wheel.

“We’ve given people a lot of fiscal support,” Ms. Edelberg said. “We’ve allowed people to not make these transitions in desperation, to prioritize their health, to prioritize their families. So that’s going to take a bit of time.”

In an early May earnings report, Uber said it had 3.5 million active drivers and couriers during the first three months of the year, down 22 percent from the previous year. “We have not seen driver supply keep up with the demand growth in the U.S.,” Dara Khosrowshahi, Uber’s chief executive, said last week at the J.P. Morgan Technology, Media and Communications Conference.

In the past four weeks, however, more than 100,000 more drivers have also returned to the platform, an Uber spokesman said. Uber has aggressively increased its incentive spending, putting $250 million into the effort to recruit drivers and branding it as a “stimulus.”

Lyft also said it did not have enough drivers and was spending heavily to recruit them. In the first quarter of the year, the company spent $100 million on driver incentives, according to an earnings report.

“It is something we are taking extremely seriously, but something that we’re extremely confident and I’ve already started to see significant movement on,” Lyft’s president, John Zimmer, said at the J.P. Morgan conference. Lyft saw a 25 percent increase in what it calls driver “leads” — drivers who are interested in working for the platform — between late February and May, Mr. Zimmer said.

The incentives are starting to have an effect, according to Gridwise, a service that helps gig workers track their earnings. Ride-hailing earnings have steadily climbed this year, rising to $25 an hour in May from $18 dollars an hour in January, Gridwise said.

The higher pay appears to be enough to tempt some drivers to return. While the number of drivers is still below prepandemic levels, Gridwise estimates it is down only 11 percent, an improvement from the 25 percent deficit in January. Uber also said that the overall number of trips with surge pricing was declining after a peak in March.

“When employers say they can’t find the workers that they need, always add the phrase, ‘at the wages I want to pay,’” said Heidi Shierholz, the director of policy at the Economic Policy Institute. “We know how to attract workers — give them better jobs, better pay, better working conditions. It’s not rocket science; that’s how you do it.”

But customers are impatient for a return to the quick, cheap rides. In Miami, Ms. Lima said she had hoped the company would maintain low prices while it tried to get more drivers back on the road. “Keep customers happy,” Ms. Lima said. “At least with the price point.”

For now, she said, it is impractical to use Uber the way she once did because of the price jump. Instead of an everyday utility, she said, Uber is likely to become a splurge item.

Cristine Sanchez, a hospitality worker in New York, used to pay around $20 for Uber rides to Brooklyn from Queens. Now the fare is around $38, she said, and a trip to the Bronx costs almost $45.

Ms. Sanchez recently realized that airfares were nearly the same price as her Uber rides. When she found a $60 round-trip flight to Miami this month, she booked an impromptu trip with friends.

“If the choice is go to the Bronx or go to Miami, I’m going to Miami,” Ms. Sanchez said. “It’s like come on, Uber, come on, Lyft, let’s get it together.”

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World News

Delhi Locks Down as Virus Surges Once more in India

NEW DELHI – Delhi decided on a week-long lockdown across the city on Monday as infections and deaths in India hit new daily records and several local governments, including those in the state capital, reported shortages of oxygen, beds and drugs.

India reported more than 272,000 cases and 1,619 deaths on Monday as a second wave of the coronavirus spread across the country. The worsening situation has led UK Prime Minister Boris Johnson to cancel a planned trip to the country next week, a decision the UK and Indian governments announced on Monday.

Arvind Kejriwal, the prime minister of Delhi, announced a city-wide lockdown on Monday, starting at 10 p.m. and ending at around 5 a.m. on April 26.

“Our health systems have reached their limits,” he said. “We have almost no more intensive care beds. We have a great lack of oxygen. “

Only essential services, including grocery stores, pharmacies and grocery delivery, are allowed, he said. Wedding ceremonies are limited to 50 people.

“If we don’t put up a barrier now, it could lead to a major tragedy,” said Kejriwal.

Last week, the state government of Maharashtra, which includes Mumbai, banned public gatherings and ordered most businesses to close for the next few weeks after hospitals there became overwhelmed. Its Prime Minister appealed to Prime Minister Narendra Modi to use the Indian Air Force to ventilate oxygen bottles to meet state demand.

India is also facing a shortage of the experimental drug remdesivir.

On Sunday, Hemant Soren, the prime minister of the eastern state of Jharkhand, asked the central government to allow him to import 50,000 vials of the medicine, which the World Health Organization did not recommend, from Bangladesh in case of emergency.

“The uncertainty of the situation is evident from the fact that Jharkhand only received 8,038 vials against the total order of 76,640 vials,” Soren said in a letter to the central government.

The shortage has sparked disputes between opposition-led state governments and Mr Modi’s government, which controls the supply of much-needed medical oxygen and medicines.

On Sunday, Piyush Goyal, a minister in Mr. Modi’s cabinet, urged states to keep oxygen demands “under control” and allow patients to only “use as much oxygen as they need”.

“There is news in many places that oxygen is being given even when it is not needed,” he said. Opposition leaders criticized his statements.

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World News

Bitcoin (BTC) surges again above $50,000 after extra shopping for from Sq.

The price of the Bitcoin virtual cryptocurrency is shown in this photo on a phone screen.

STR | NurPhoto | Getty Images

Bitcoin’s price soared again on Wednesday after a sharp sell-off and surged again above $ 50,000 when Square announced that the $ 170 million worth of the cryptocurrency had been purchased.

According to Coin Metrics, the world’s most valuable digital coin rose 7.5% at 4 a.m. to a price of $ 50,683. The cryptocurrency rose to $ 51,369 a few hours earlier.

Other cryptocurrencies also got a boost: Ether and XRP rose 11.3% and 7.4%, respectively. So-called altcoins or alternative cryptocurrencies often increase in times of the strength of Bitcoin.

On Tuesday, Square announced it had bought 3,318 bitcoins at an average price of around $ 51,235. The fintech company, led by Jack Dorsey, CEO of Twitter, said Bitcoin now accounts for about 5% of its total assets.

It’s not the first time Square has invested in Bitcoin – the company bought the digital currency for $ 50 million last year. Dorsey is one of the best-known proponents of Bitcoin, having once said that he believes it will eventually become the “single currency” of the internet.

Bitcoin had a difficult start to the week, falling from a record high of $ 58,356 on Sunday to just $ 45,501 on Tuesday. It’s not uncommon for Bitcoin to experience wild volatility attacks – the digital token infamously rose to nearly $ 20,000 in 2017 before entering the bear market the following year.

Bitcoin is still up more than 70% since the start of the year and over 400% in the past 12 months. The formidable rally in crypto assets caught the attention of everyone from Tesla CEO Elon Musk to US Treasury Secretary Janet Yellen.

Earlier this week, Yellen described Bitcoin as an “extremely inefficient” means of payment and warned against its use in illegal activities.

“It’s a highly speculative commodity and … I think people should be aware that it can be extremely volatile,” the former Federal Reserve chairman told the New York Times at a DealBook conference. “I am concerned about the possible losses that investors may suffer.”

Musk is now a fan of Bitcoin. His electric car company recently invested $ 1.5 billion in corporate money in the cryptocurrency, and the billionaire tech entrepreneur said it could be “close to widespread adoption” by traditional financial services companies.

But even Musk has suggested that the current price level of Bitcoin may not be sustainable and tweeted over the weekend that he thinks the prices of Bitcoin and competing token ethers are “high”.

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Business

Japan’s Financial system Surges, however Covid-19 Looms

However, the last two quarters of the growth failed to offset the damage caused by the pandemic. The economy fell by 4.8 percent over the course of the year. This was the first annual decline since 2009, when the country suffered the aftermath of the global financial crisis.

Updated

Apr. 14, 2021, 6:09 p.m. ET

While the people of Japan don’t face the same short-term economic threat as the US, growth is expected to slow again in the first three months of this year.

After a sharp increase in the daily number of infections, Japan declared a second, albeit more limited, state of emergency in late December. The edict, originally announced for a month, was extended to early March, in part in response to the emergence of new, more contagious variants of the coronavirus.

“Because of the urgency, consumer spending, especially on services, will decrease in the first three months of the year,” said Akane Yamaguchi, an economist at the Daiwa Institute of Research.

However, she said the damage will not be nearly as severe as it was last spring, when lockdowns destroyed demand for exports and Japan’s national emergency spread across the country.

Japan has further complicated the economic picture for 2021 and has been slow to start vaccinating.

The Pfizer shot was the first to receive approval from Japanese regulators on Sunday. Frontline health workers are expected to get their first doses this week, but it will be months before the public comes into question.

The effects of the pandemic have been much less severe in Japan than in the west. The total death toll is below 7,000, and daily infection rates peaked at around 8,000 in early January. However, a solid vaccination program could give more people the confidence to return to shops and restaurants, said Nagahama of Dai-Ichi Life Research.

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Business

European warehouse demand surges as e-commerce giants snap up areas

Staff walk the aisles collecting items before sending them to the on-site shipping hall to be packed in one of the UK’s largest Amazon warehouses in Dunfermline, Fife.

Jane Barlow | PA pictures | Getty Images

BEIJING – Big investors are investing money in warehouses in Europe, while online purchases of goods – some from China – are increasing after the coronavirus pandemic.

E-commerce was already growing before Covid-19 forced people to stay home and close store fronts. Now the pandemic has likely sped up e-commerce adoption by about 12 months, real estate consultancy Savills said in a December report quoting the Center for Retail Research.

One of the biggest challenges for companies looking to capitalize on the trend is finding ways to get orders done faster. Companies that previously relied on globally distributed supply chains are faced with a shortage of shipping containers, resulting in high delivery costs and long waiting times.

The new strategy is to find warehouses near customers and store them ahead of time so customers can receive their orders in a few days or less.

This has spiked warehouse demand and pushed the vacancy rate in Europe to a record low of around 5% – and the rate is still falling, said Marcus de Minckwitz, director of the London Omnichannel Group at Savills.

“In the course of 2020, under the leadership of the UK, we saw record utilization of warehouse space across the continent,” he said. “This was driven by Amazon and then third-party logistics service providers.”

There is an Amazon warehouse in the Port of Belfast as the Coronavirus disease (COVID-19) spread continues in Belfast, Northern Ireland on April 6, 2020.

Jason Cairnduff | Reuters

Total investment in European logistics rose last year to 38.64 billion euros (46.5 billion US dollars). According to Savills, this is the highest value since 2013.

Now Europe expects more demand from Chinese e-commerce players entering the market under the leadership of Alibaba, de Minckwitz said.

Alibaba has grown its cross-border e-commerce business primarily through its AliExpress platform and Cainiao’s logistics arm.

The company spearheaded rapid growth in cross-border e-commerce, which helped Cainiao sales jump 51% year over year in the final three months of 2020 to $ 1.74 billion at the time, according to Alibaba.

Some of the largest companies in the investment world are taking note of the trend.

E-commerce increases China’s exports

The Chinese authorities are also talking about the trade impact.

Cross-border electronic trade between China and other countries rose 31.1% last year to 1.69 trillion yuan, mainly in exports, according to the national customs authority. As a result, overseas warehouses rose 80% year over year to over 1,800 in 2020, the Commerce Department said in January.

Diane Wang, founder and chairman of Chinese e-commerce website DH Gate, said last month the company has 10 warehouses overseas and plans to add 40 more this year.

About half of the products are upstream abroad, so customers can receive their orders within three days, she said. Wang predicts that cross-border e-commerce will increase from around 5% of China’s international trade to 30% over the next decade.

Official data by country or region was not available, but anecdotes show that much of the foreign interest in e-commerce with China comes from Europe. The region is already one of China’s most important trading partners.

“A lot of people buy Chinese products in Europe,” said Suresh Dalai, senior director of Alvarez & Marsal consultancy, which focuses on retail operations in Asia. He expects more investment in technology for order tracking, same-day delivery and storage of packages in central lockers so consumers can pick up packages when they want.

“There is a lot of demand. I don’t think (new Chinese players) are really influencing Alibaba that much,” said Dalai. “I think it helps because it only spurs additional investment in warehouses and technology and more and more consumers are getting used to shopping across borders and shopping on China-made websites.”