A person being vaccinated at the launch of the province-wide roadshows to drum up public support for vaccination against COVID 19 at Moses Mabhida People’s Park on June 08, 2021 in Durban, South Africa.
Darren Stewart | Gallo Images | Getty Images
The Biden administration announced Monday it will send 55 million Covid-19 vaccine doses to countries in Latin America, Asia and Africa as the coronavirus continues to rapidly spread in low- and middle-income nations.
The 55 million vaccine doses are the remaining portion of 80 million shots President Joe Biden has committed to donating abroad. Earlier this month, the administration said it would send the first 25 million doses to South and Central America, Asia, Africa, neighboring countries and U.S. allies.
The U.S. plans to allocate 75% of its initial 80 million doses through COVAX, the nonprofit that distributes vaccines mostly to poor countries, while the remaining shots will be sent to countries currently dealing with surges in new infections, the administration said Monday.
The administration said about 14 million doses will go to places in Latin America and the Caribbean, including Brazil, Argentina, Colombia, Peru, Ecuador, Paraguay, Bolivia, Uruguay, Guatemala, El Salvador, Honduras, Haiti, Dominican Republic, Panama and Costa Rica.
About 16 million will go to countries in Asia like India, Nepal, Pakistan, Afghanistan, Philippines, Vietnam, Indonesia, Malaysia, Laos and Thailand, the administration said. About 10 million doses will go to Africa and are expected to be shared with countries that will be selected in coordination with the African Union, it said.
Another 14 million will be shared with “regional priorities and other recipients” such as Iraq, Yemen, Tunisia and Ukraine, the administration said.
“Sharing millions of U.S. vaccines with other countries signals a major commitment by the U.S. government,” the administration said in a release detailing its plan. “Just like we have in our domestic response, we will move as expeditiously as possible, while aiding by U.S. and host country regulatory and legal requirements.”
The announcement Monday comes as more than half of the U.S. population has had at least one dose of a Covid vaccine, and new cases and deaths have fallen sharply.
As of Sunday, more than 177 million Americans, or 53.3% of the population, have had at least one shot, according to data compiled by the Centers for Disease Control and Prevention. More than 149 million Americans are fully vaccinated, according to the agency.
The pandemic outlook in other countries is more bleak, however, with some places such as Africa reporting an increasingly worrying rise in Covid cases.
The World Health Organization is urging wealthy nations to donate doses. Many countries have made pledges to share millions of doses around the world, but WHO officials say those doses need to make their way to low-income countries immediately and without delay.
Earlier this month, the administration said it would buy 500 million more doses of the Pfizer Covid vaccine to share through the global COVAX alliance to donate to 92 lower-income countries and the African Union over the next year.
The administration said the doses are vital “component of our overall global effort to lead the world in the fight to defeat COVID-19 and to achieve global health security.”
Netflix (NFLX) Q2 2021 earnings
Co-CEO of Netflix Reed Hastings (R) and CEO of Nubank David Velez walk together at the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho.
Kevin Dietsch | Getty Images
Netflix reported earnings after the bell. Here are the results.
- Earnings per share (EPS): $2.97 vs $3.16 expected, according to Refinitiv survey of analysts
- Revenue: $7.34 billion $7.32 billion expected, according to Refinitiv
- Expected global paid net subscriber additions: 1.75 million expected, according to Factset
Analysts aren’t expecting blockbuster reports this quarter, with Jefferies analysts using the word “meh” to describe anticipated performance in their earnings preview.
“June results are the day after you’ve slept off a cold. Your head is clear, but you’re not quite 100%…That’s where we are for Netflix. June is likely a non-event and clears the way for a 2H acceleration in sub growth. We aren’t quite yet there, but almost,” the Jefferies analysts wrote in a July 18 note.
Even Netflix isn’t expecting high subscriber growth for its second quarter. The company gave guidance of about 1 million net subscriber additions in its first-quarter earnings report.
The company is set to face a test of whether it can continue to sustain high subscriber growth, though the focus will be on its third quarter guidance. Historically, Netflix posts smaller net subscribers additions in the second quarter. That leaves next quarter’s guidance to indicate whether or not the streaming giant can “get back to its pre-Covid 25mn+ net sub adds/year trend,” Bank of America analysts wrote in a July 16 note.
Investors are anticipating 4.87 million net subscriber additions in the third quarter, according to FactSet data.
Netflix is also facing pressure from tough year-over-year comparisons, since last year consumers were in the midst of the Covid-19 pandemic and spent much more of their time online and in need of entertainment. Worldwide Netflix mobile app downloads were down 38% year-over-year and down 9% quarter-over-quarter, according to Sensor Tower data. Daily active users also dipped more than 20% year-over-year, according to the report.
Still, analysts remain optimistic on the stock.
“We believe that while Netflix will face tough comps in the near term, the company will continue to see long term durable growth despite increasing competition and faces less regulatory scrutiny vs mega-cap tech peers. We continue to see Netflix’s ability to grow as its global content investment strengthens its value proposition,” the BofA analysts wrote.
Much of the optimism comes from Netflix’s upcoming slate of content, much of which had been pushed back into the second half of this year and next year.
“Historically, successful content has been a catalyst for net sub growth, so, after 2Q earnings, we expect investors to focus heavily on the buildup and ultimate success of upcoming content,” Jefferies wrote. “Management has remained confident that back half weighted content will re-accelerate sub growth, bringing the metric closer to its historical cadence. As such, we believe content performance over the next 12 months will play a significant role in shaping how investors view the long-term growth of NFLX.”
This story is developing. Please refresh for updates.
Trump friend Tom Barrack arrested on UAE lobbying charges
Thomas Barrack, chairman and chief executive officer of Colony Capital Inc., gestures while speaking during the closing reception at the Milken Institute Japan Symposium in Tokyo, Japan, on Monday, March 25, 2019. The conference brings together business leaders and government officials to discuss geopolitical, economic and social issues facing Japan. Photographer: Kiyoshi Ota/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Thomas Barrack, a private equity investor who is a close friend of former President Donald Trump, was arrested Tuesday morning in Los Angeles on federal charges related to illegally lobbying Trump for the United Arab Emirates, the Justice Department said.
Barrack, who was charged in a seven-count indictment in New York federal court, was chairman of Trump’s 2017 inaugural fund.
Barrack, 74, is a longtime friend of Trump’s, and the founder of the large private equity firm Colony Capital.
The indictment accuses the Santa Monica, California, resident Barrack and several other defendants of unlawful efforts to advance the interests of the UAE at the direction of senior officials of that nation, “by influencing the foreign policy positions of the campaign of a candidate in the 2016 U.S. presidential election and, subsequently, the foreign policy positions of the U.S. government in the incoming administration,” the Justice Department said.
Charged with Barrack for acting and conspiring to act as agents for the UAW from April 2016 throough April 2018 were Matthew Grimes, 27, of Aspen, Colorado, Rashid Sultan Rashid Al Malik Alshahhi and Rashid Al‑Malik, a UAE national.
Barrack is also charged with obstruction of justice and making multiple false statements during a June 2019 interview with federal law enforcement agents.
Barrack stepped down at Colony Capital’s CEO in 2020. In April, he resigned as executive chairman of the firm.
A spokeswoman for Trump did not immediately respond to CNBC’s request for comment on the arrest.
A spokesman for Barrack could not immediately be reached for comment.
This is breaking news. Please check back for updates.
Microsoft starts rolling out Windows 11 update with Teams chat
Satya Nadella, CEO of Microsoft
Microsoft on Tuesday said it’s rolling out a Windows 11 update that includes its Chat feature for talking with friends and family members over Microsoft Teams. People who are already testing Windows 11 through the Windows Insider program will be able to try the Chat software before Windows 11 becomes generally available for everyone later this year.
The addition of the component into Windows could bring greater adoption of Teams, which became more popular during the coronavirus pandemic. If more people use Teams, the software could become a more valuable asset in the Office suite, which is currently the largest part of Microsoft’s business.
People can access the Chat feature by entering the keyboard shortcut Win-C (formerly the shortcut for accessing the Cortana virtual assistant) from any screen in Windows 11, Brandon LeBlanc, a Microsoft senior program manager, wrote in a blog post. An icon is also available in the taskbar. Once the Chat window window is open, it’s possible to open the full-fledged Microsoft Teams app, which has been redesigned for Windows 11.
Initially users will only be available to participate in individual and group chats. Support for voice and video calls and other features will come later, LeBlanc wrote, and so far Chat has only been localized for devices using the English language and configured to the U.S. It’s only being rolled out to a limited set of Insiders so far.
Not everyone has to be on Teams in order to exchange messages with people using Chat in Windows 11. If a person using Chat sends a message to a person who’s not on Teams, the recipient will get the message in an email or an SMS message, and Microsoft will provide an option to join Teams, LeBlanc wrote. And it’s possible to sync Skype and Outlook contacts.
Microsoft did add pre-installed Skype apps into Windows 10 in 2015, and last year, after the pandemic had arrived, the company tried to make it easy for people to start Skype calls from Windows with a Meet Now feature. With Windows 11, the focus is instead on Teams, which had 145 million daily active users as of April.
“Today, Microsoft announced that it is going to bundle Teams with Windows as well as Office,” Slack said on the day Microsoft announced Windows 11. “Our reaction is simple: choice is better than lock-in, open is better than closed, and fair competition is best of all. Unfortunately, Microsoft has never seen it that way.”
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