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Covid cases are rising again in all 50 states across U.S. as delta variant tightens its grip

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Covid cases are on the rise in all 50 states and the District of Columbia as the delta variant rapidly spreads across the U.S. and the virus once again tightens its grip.

The U.S. is reporting an average of about 43,700 new cases per day over the past week — far below pandemic highs but up 65% over the previous seven days and nearly three times as high as the level two weeks ago, data compiled by Johns Hopkins University shows. Cases hit a 15-month low in late June before they began to rise yet again as fewer people got vaccinated and the more infectious delta variant took hold in the country.

Vaccination rates peaked in April at more than 3 million shots per day but have dropped off considerably in recent months to around 530,000 a day, according to data compiled by the Centers for Disease Control and Prevention.

Louisiana, Arkansas, Missouri, Florida and Nevada are reporting the highest daily average of new cases per capita over the past week, all of which are at least double the U.S. rate.

Each of those states also have vaccination rates below the nationwide level, with the biggest gap visible in Louisiana, where 47.7% of the eligible age 12-plus population has received one shot or more compared with 65.9% for the country overall.

Hospital admissions of Covid patients are up 32% compared with one week ago, according to the Centers for Disease Control and Prevention. The count of daily Covid deaths, which typically lag an increase in case counts by a few weeks or more, has ticked upward but not at the same pace as cases or hospitalizations. Many Americans most vulnerable to the virus also now have some level of protection, as 89% of seniors have received at least one shot.

“Deaths haven’t risen because we have done an incredible job of fully vaccinating the populations most likely to die from Covid-19, especially those over 65 and nursing and assisted home residents,” Dr. Peter Chin-Hong, infectious disease specialist at the University of California at San Francisco, said in an interview. “Deaths also lag infection rate in a few cases, but I also anticipate the death rate not to budge.”

The overwhelming majority of serious Covid cases — 97% of hospital admissions, and 99.5% of Covid deaths — are occurring among those who are not vaccinated, U.S. Surgeon General Vivek Murthy told reporters at a White House briefing Thursday.

President Joe Biden and CDC Director Dr. Rochelle Walensky have both called the current state of the outbreak “a pandemic of the unvaccinated.”

U.S. officials are pleading for Americans to get vaccinated against the delta variant, which Walensky said is one of the most infectious respiratory diseases ever seen by scientists. At 68.6% of the adult population at least partially vaccinated, the U.S. has still not reached Biden’s July Fourth goal of getting 70% of Americans aged 18 and older to receive one shot or more.

The variant is highly contagious, largely because people infected with the delta strain can carry up to 1,000 times more virus in their nasal passages than those infected with the original strain, according to new data.

“The delta variant is more aggressive and much more transmissible than previously circulating strains,” Walensky told reporters at a briefing Thursday. “It is one of the most infectious respiratory viruses we know of, and that I have seen in my 20-year career.”

Local officials across the country are now pleading with Americans to once again wear masks indoors. Several counties in California and Nevada are now advising all residents to wear masks in public indoor settings — whether they are vaccinated or not. Local leaders in at least three more states have reinstated mask mandates, issued facial covering recommendations or threatened the return of strict public health limits for all residents — in defiance of CDC guidelines that say vaccinated people don’t have to follow those protocols in most settings.

“The easiest and best and most effective way that we can prevent the emergence of a new variant and crush the already existing delta variant is to get everyone vaccinated,” said White House chief medical advisor Dr. Anthony Fauci in an interview Wednesday with CNBC.

— CNBC’s Bob Towey contributed reporting.

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All-electric aircraft from Rolls-Royce completes maiden flight

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Matt Cardy | Getty Images News | Getty Images

Rolls-Royce’s first all-electric aircraft has completed its maiden flight, soaring across skies in the U.K. for around 15 minutes this week.

In a statement, the company said the aircraft’s trip on Wednesday marked “the beginning of an intense flight-testing phase” that would involve the collection of performance data on its electrical power and propulsion system.

According to Rolls-Royce, the airplane — dubbed the “Spirit of Innovation” — utilized a 400 kilowatt electric powertrain “with the most power-dense battery pack ever assembled for an aircraft.” Eventually, the firm wants the aircraft’s speed to exceed 300 miles per hour.

The Spirit of Innovation is the result of a program called ACCEL, or Accelerating the Electrification of Flight. Partners in the initiative include electric motor and controller specialist YASA and Electroflight, which Rolls-Royce described as an “aviation start-up.” YASA is a wholly-owned subsidiary of Mercedes-Benz.

In terms of funding, 50% has come from the Aerospace Technology Institute in partnership with the U.K. government’s Department for Business, Energy & Industrial Strategy and Innovate U.K.

In a statement issued alongside Rolls-Royce’s announcement, U.K. Business Secretary Kwasi Kwarteng said the aircraft’s flight was “a huge step forward in the global transition to cleaner forms of flight.”

Read more about electric vehicles from CNBC Pro

The environmental footprint of aviation is significant. According to the International Energy Agency, carbon dioxide emissions from aviation “have risen rapidly over the past two decades,” hitting almost 1 metric gigaton in 2019. This, it notes, equates to “about 2.8% of global CO2 emissions from fossil fuel combustion.”

Elsewhere, the World Wildlife Fund describes aviation as “one of the fastest-growing sources of the greenhouse gas emissions driving global climate change.” It adds that air travel is “currently the most carbon intensive activity an individual can make.”

Looking ahead, Rolls-Royce — not to be confused with Rolls-Royce Motor Cars, which is owned by BMW —said it would use and apply tech from ACCEL in products connected to the commuter aircraft and electric vertical takeoff and landing markets.

Alongside aircraft manufacturer Tecnam, Rolls-Royce is also working with Norway-headquartered airline Wideroe on the delivery of “an all-electric passenger aircraft for the commuter market.”

The last few years have seen a number of companies attempt to develop plans and concepts related to low and zero-emission aviation.

Last September, for instance, a hydrogen fuel-cell plane capable of carrying passengers took to the skies over England for its first flight.

The same month also saw Airbus release details of three hydrogen-fueled concept planes, with the European aerospace giant claiming they could enter service by 2035.

Back in 2016, the Solar Impulse 2, a manned aircraft powered by the sun, managed to circumnavigate the globe without using fuel. The trip was completed in 17 separate legs.

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Retail sales post surprise gain as consumers show strength despite delta fears

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Retail sales posted a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers, the Census Bureau reported Thursday.

Sales increased 0.7% for the month against the Dow Jones estimate of a decline of 0.8%.

A separate economic report showed that weekly jobless claims increased to 332,000 for the week ended Sept. 11, according to the Labor Department. The Dow Jones estimate was for 320,000.

Economists had expected that consumers cut back their activity as the delta variant continued its tear through the U.S. Persistent supply chain bottlenecks also were expected to hold back spending as in-demand goods were hard to find.

The pandemic’s impact did show up in sales at bars and restaurants, which were flat for the month though still 31.9% ahead of where they were a year ago.

However, sales were strong for most areas during the month, when back-to-school shopping generally results in a pickup in activity, especially so this year as schools prepared to welcome back students after a year of remote learning.

The headline number would have been even better without a 3.6% monthly drop in auto-related activity; excluding the sector, sales rose 1.8%, also well above the 0.1% expected gain.

With fears rising over the pandemic, shoppers turned online, with nonstore sales jumping 5.3%. Furniture and home furnishing also saw a healthy 3.7% increase, while general merchandise sales increased 3.5%.

Electronics and appliances stores saw a 3.1% drop, while sporting goods and music stores fell 2.7%.

The numbers overall reflected a more resilient consumer, with sales up 15.1% from the same period a year ago.

The retail upside surprise was tempered slightly with a disappointing read on jobless claims.

Initial filings increased 20,000 from a week ago after posting a fresh pandemic-era low. Still, the four-week moving average, which accounts for weekly volatility, declined to 335,750, a drop of 4,250 that brought the figure to its lowest point since March 14, 2020, at the pandemic’s onset.

The claims total came under heavy seasonal adjustments, as the unadjusted figure showed a drop in filings of 23,331 to 262,619.

Continuing claims also declined, falling by 187,000 to 2.66 million, also a new low since Covid hit. The four-week moving average nudged lower to about 2.81 million.

However, those receiving compensation under all programs actually increased just ahead of the expiration of enhanced federal jobless benefits. That total, though Aug. 28 and thus before the expiration, rose by 178,937 to 12.1 million.

In a separate economic report, the Philadelphia Federal Reserve reported that its manufacturing activity index rose 11 points to 30.7, representing the percentage difference between firms reporting expanding activity against those seeing contraction. That number was well ahead of the Dow Jones estimate of 18.7.

This is breaking news. Please check back here for updates.

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StanChart chairman still sees opportunity in China as regulations tighten

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Tourists visit the Bund waterfront area on May 10, 2021 in Shanghai, China.

Wang Gang | Visual China Group | Getty Images

But overall, I think China continues to be a tremendous source of opportunity for the private sector.

Jose Vinals

Chairman of Standard Chartered

“There’ve been some articles in the media about — is China becoming uninvestable? I don’t think so,” Jose Vinals told CNBC’s Hadley Gamble on Wednesday.

A number of sectors may be “a little bit more challenged now” and investors need to look more carefully at what investments they are making, he said.

“But overall, I think China continues to be a tremendous source of opportunity for the private sector,” he said, pointing out Beijing has slowly opened up its financial sector, granting some international firms access.

The regulatory crackdown in China has been interpreted differently by big names in the financial world, including Ray Dalio, George Soros and David Roche.

Inflation expectations

Separately, Vinals said he doesn’t expect inflation to be a big problem.

“I still subscribe to the view that inflation that we’re seeing in the United States and in other Western countries in particular … has an important transitory component,” he said.

Read more about China from CNBC Pro

Fed Chair Jerome Powell similarly believes that inflation will soon subside and has said he wants to see more strong employment reports before the central bank starts paring back its bond purchases.

Vinals said many Western countries are operating below their maximum economic potential, adding the Federal Reserve is likely to hike rates early next year.

“My baseline is that inflation will not be a big problem. But there is a risk that it may become more of a problem than we think,” he said, acknowledging that it would “complicate things” for the world.

“But I see [inflation] more as a downside risk to the global economic recovery, than as the base case for the economic outlook,” he said.

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