4. 4
COVID-19 Situation
Globally, as of 20 August 2021, there have been 209,876,613 confirmed cases of COVID-19, including 4,400,284 deaths,
reported to WHO
Source: Our World in Data
5. 5
Corporate America is getting serious about vaccines
From offices to restaurants, companies are requiring proof of vaccination
Source: CNN
9. 9
Thailand
The predicted wave of new COVID-19 cases simulated and based on the Delta variant outbreak pattern in India indicates
that the spread in Thailand may have peaked
Source: Medical Association of Thailand, Bangkokpost
32.4% of the world population has received at least one dose of a COVID-19 vaccine, and 24.4% is fully vaccinated.4.93 billion doses have been administered globally, and 34.25 million are now administered each day.Only 1.4% of people in low-income countries have received at least one dose.
Now the challenge is to make these vaccines available to people around the world. It will be key that people in all countries — not just in rich countries — receive the required protection.
https://edition.cnn.com/2021/07/28/business/companies-vaccine-mandate/index.html
From offices to restaurants, companies are requiring proof of vaccination
- Google
Google (GOOG) CEO Sundar Pichai sent an email to staff announcing a vaccine requirement for employees who are coming back to the office. It's not clear how Google plans to enforce the policy.
- Facebook
All Facebook (FB) employees must get vaccinated before coming back to the office,. "As our offices reopen, we will be requiring anyone coming to work at any of our US campuses to be vaccinated," Lori Goler, Facebook's VP of people, said in a statement. "We will have a process for those who cannot be vaccinated for medical or other reasons and will be evaluating our approach in other regions as the situation evolves," she added.
- Netflix
Netflix (NFLX) is requiring Covid-19 vaccines for the casts of all its US productions, as well as the people who come in contact with them, according to Deadline. Last week, Hollywood unions and major studios hammered out return-to-work protocols that include "the option to implement mandatory vaccination policies for casts and crew in Zone A" on a production-by-production basis. "Zone A" consists of actors and the people who come in close proximity to them.
Walmart
Walmart (WMT), the nation's largest retailer, said all its US-based corporate employees must be vaccinated by October 4.
Disney
Disney (DIS) is requiring all its salaried and non-union hourly employees in the US to be vaccinated. Workers who are working on-site but are not yet vaccinated must get their shots within the next 60 days
BlackRock
BlackRock (BAAPX), the world's largest asset manager, is currently allowing only vaccinated employees to return to the office
Morgan Stanley
Morgan Stanley (MS)'s New York office is banning all unvaccinated staff and clients from entering its headquarters.
The Washington Post
All new hires and current employees of the Washington Post will be required to demonstrate proof of full Covid-19 vaccinations by September 13.
Uber
If Uber (UBER) employees want to come back to the office, they must be fully vaccinated, company CEO Dara Khosrowshahi said in a memo to employees Thursday. Uber also pushed back its global "return to office" date to October 25, and said it will provide updates by September 30 if anything changes. Anyone coming into the office must wear a mask for the time being, regardless of their vaccination status
Goldman Sachs
Goldman Sachs (GS) employees are currently required to report their vaccine status to the company, a policy that was instituted on June 10. Failure to do so comes with specific consequences. "If you do not report your vaccine status to Goldman, your ID card will not work to enter the building," a spokesperson for the company told CNN Business. Unvaccinated employees are required to get a rapid Covid-19 test on site
https://www.voanews.com/east-asia-pacific/new-zealand-locks-down-after-one-covid-19-case
New Zealand Prime Minister Jacinda Ardern put the nation on a three-day lockdown Tuesday after a single case of community-spread COVID-19 was confirmed in Auckland, the country’s largest city.
Officials are now warning that they will probably extend the Auckland lockdown, which is set to expire on Aug 25
According to the New Zealand ministry of health website, as of Thursday more than 960,000 people were double vaccinated, and nearly 1.7 million had received a first dose, in a population of just under five million.
Earlier this month Prime Minister Ardern announced that national borders would remain closed until the end of this year. The aim was to vaccinate the population by then, she said.
https://www.thenationalnews.com/world/australasia/2021/08/22/australian-pm-defends-covid-strategy-as-anti-lockdown-protests-go-on/
Australia will stick to its lockdown strategy to tackle Covid-19 until at least 70 per cent of its population has been fully vaccinated.
Despite a third wave of infections from the Delta variant, Australia’s Covid-19 numbers are relatively low, with about 44,000 cases and 981 deaths reported to date.
A worsening outbreak in Victoria, the state that includes Melbourne, led stay-at-home orders to be expanded to the entire state.
But Melbourne’s public health orders did not deter thousands from venting anger in a march against the lockdown rules, and police used pepper spray in violent clashes with protesters.
Seven officers were injured and more than 200 people were arrested, Victoria Police said in a statement on the demonstration, which it called “violent and unlawful”.
In Sydney, more than 1,500 police officers flooded the city. They set up roadblocks and made dozens of arrests when about 250 people gathered there, NSW Police said.
https://www.bangkokpost.com/thailand/general/2168639?fbclid=IwAR02EOMuWYPotEfKjww3Lg8vrAvgKvpJ2w6pgUiJ4r7_FfqWLlsUig18MLw
Dr Kampanat noted that the Delta outbreak in India saw daily infections of more than 400,000 cases before rapidly slowing down. Thailand may have passed the peak at 23,000 cases recently, he said.
Currently, a quarter of the population, or 18 million people, have had their first shot and the vaccine administration is gearing up for up to 500,000 shots per day.
"The upward curve took two to three months, so it will also take two to three months on the way down," he said. "We will likely see infections drop from 19,000 to 18,000 to 17,000 until the curve is flat.“
"There will be about 300,000-400,000 new infections during the downward trend," he said. "Based on statistics, fatalities will peak after two weeks, so there could be 2,000–3,000 fatalities before this wave is finally over."
The timing of the Fed’s tapering will be crucial for raw materials ranging from copper and iron ore to oil and grains, as it was central banks’ massive stimulus that helped supercharge prices in the past year. Any hint that policy makers will shift from spurring growth toward curbing inflation earlier than expected could spell more trouble for commodities.
Crude Awakening
Oil sank below $65 a barrel in New York for the first time since May last week as the resurgent virus’ threat to demand was coupled with fears over the Fed’s tapering plans. The slump capped a rough two months in the market, where Chinese buying has ebbed as the government imposes new lockdowns, bullish indicators wilted, and fears grew over the risk of a new surplus.
It’s a sharp turn of events from earlier in August, when the Biden administration was harrying OPEC+ producers to rush more barrels to consumers. Saudi Arabia and its partners may be thinking in a different direction when they begin informal consultations this week, ahead of a policy-setting meeting on Sept. 1. Citigroup Inc. is among big-name forecasters predicting that the Organization of Petroleum Exporting Countries may pause planned production increases for a month if market conditions don’t recover.
Oil price posts biggest week of losses in nine months as Delta variant spreads
The crude market has now posted seven consecutive days of losses. Numerous nations worldwide are responding to the rising infection rate due to the coronavirus Delta variant by adding travel restrictions to cut off the spread.
China has imposed stricter disinfection methods at ports, causing congestion, nations including Australia have ratcheted up travel restrictions, and global jet fuel demand is softening after improving for most of the summer.
China, the world's largest crude importer, has imposed new restrictions with its "zero tolerance" coronavirus policy, which is affecting shipping and global supply chains. The United States and China have also imposed flight-capacity restrictions.
Several U.S. companies have delayed return-to-office plans. Apple Inc, the largest U.S. company by market value, is delaying the return of its workers until early 2022, Bloomberg reported.
https://www.thestar.com.my/business/business-news/2021/08/21/oil-price-posts-biggest-week-of-losses-in-nine-months-as-delta-variant-spreads
Iron ore has endured a spectacular fall from grace in recent months, capped by the biggest one-day fall on record last Thursday. There are two main culprits: a growing sense that China is serious about cutting steel output (iron ore is used to make the alloy). And secondly, that China’s massive steel-intensive stimulus is wearing off, especially as regards the property sector.
Copper and iron ore prices are collapsing on growth worries and Chinese steel curbs after soaring on hopes of a swift economic recovery
Copper and iron ore prices have been slammed this month by demand worries as the coronavirus crisis wears on, while iron ore faces industry-specific pressure as China demands curbs on steel production, prompting questions about whether prices for the industrial metals can return to highs for the year.
Iron ore like copper is an important industrial metal as it is a key raw material used to make steel. Production volume of about 2 billion tonnes and export volume of around 1.5 billion tonnes makes iron ore the third-largest commodity in terms of production volume after crude oil and coal, and the second-most traded commodity after crude oil, according to the World Steel Association.
As well, the Chinese government has ordered steel mills to limit production in part to cut down on carbon emissions. It also changed tax incentives in May and July in an effort to better control steel production.
https://markets.businessinsider.com/news/commodities/commodities-prices-outlook-copper-iron-ore-economy-china-steel-curbs-2021-8
China Takes Next Step in Taming Big Tech With Personal Data Law
China has passed legislation setting out tougher rules for how companies handle user data, a move pushing forward its campaign to curb big tech’s influence.
Details of the new legislation were not immediately released but earlier drafts required firms to get user consent to collect, use and share information, and to provide a way for them to opt out. Companies found breaking the rules could face fines of up to 50 million yuan ($7.7 million) or 5% of their annual revenue.
China under President Xi Jinping has been cracking down on its most powerful tech stars, including Alibaba Group Holding Ltd., Tencent Holdings Ltd and Didi Global Inc. in a bid to ensure its grip on society. The government is also moving to address consumer worries about the gradual erosion of their privacy as tech companies make rapid advances in the use of tools from facial recognition to big data.
China passes data privacy law amid clampdown on tech sector
China's National People's Congress on Friday passed a law designed to protect online user data privacy and will implement the policy from Nov. 1, according to state media outlet Xinhua.
China has instructed its tech giants to ensure better secure storage of user data, amid public complaints about mismanagement and misuse which have resulted in user privacy violations.
The law states that handling of personal information must have clear and reasonable purpose and shall be limited to the "minimum scope necessary to achieve the goals of handling" data.
It also lays out conditions for which companies can collect personal data, including obtaining an individual's consent, as well as laying out guidelines for ensuring data protection when data is transferred outside the country.
The law further calls for handlers of personal information to designate an individual in charge of personal information protection, and for handlers to conduct periodic audits to ensure compliance with the law.
https://asia.nikkei.com/Politics/China-passes-data-privacy-law-amid-clampdown-on-tech-sector
Tech stocks get battered after China passes a strict data privacy law, extending its regulatory crackdown
China's biggest tech stocks fell sharply Friday after the country's top legislature passed a data protection law that means companies will now need to comply with strict rules on collecting and handling people's information.
The Nasdaq Golden Dragon index, which tracks US-listed Chinese stocks, closed more than 5% lower on Thursday (19 Aug 2021) in New York, dragged by a 7% drop in Alibaba. The index is down almost 10% since Monday, which puts it on track for its biggest weekly drop in three months.
https://markets.businessinsider.com/news/stocks/china-tech-stocks-beijing-passes-strict-data-privacy-law-regulation-2021-8