GM explained its complete-12 months EBIT of $14.5 billion, up 1.3 p.c, was a corporation file. Its web profits for all of 2022 slipped .8 {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to $9.9 billion as earnings rose 23 {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to $156.7 billion.
GM’s fourth-quarter altered earnings in North The us soared 69 {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to $3.7 billion.
Shares in GM rose 8.3 percent to shut at $39.32 on Tuesday.
“It can take working experience, talent and teamwork to change to external elements like better desire costs, commodity price will increase and source chain disruptions, and deliver our commitments 12 months in and 12 months out,” CEO Mary Barra reported on a call with analysts.
“GM led the U.S. sector in total sales and sent the premier calendar year-about-year increase in market place share of any OEM, together with file [average transaction prices],” she extra. “This demonstrates the power of our products portfolio, which includes our clear management in full-size pickups and comprehensive-dimensions SUVs, good top quality and enhanced availability.”
Even as it claimed file earnings for 2022, the automaker intends to choose measures to slash charges as it watches the broader macroeconomic atmosphere and as it proceeds to ramp up its electric powered car transition.
GM plans to lessen complexity in its products and trim company expenses, with designs to marginally decrease head depend as a result of attrition, Jacobson stated. He declined to say how a lot the enterprise would shrink its workforce.
“I want to be crystal clear: We are not scheduling layoffs,” Jacobson reported. “We’re on the lookout at selecting the only most strategically crucial roles, and we will use attrition to help regulate our general head rely.”
GM tasks comprehensive-calendar year net money ranging from $8.7 billion to $10.1 billion and adjusted EBIT of $10.5 billion to $12.5 billion.
Jacobson told reporters that this year’s earnings will be impacted by an predicted decline in GM Financial’s earnings as a end result of declining used-vehicle costs, rising desire fees and a more compact lease portfolio, as well as a pension accounting affect.
“We feel the fundamental enterprise is going to be pretty constant in ’23 with what we saw final year, and I believe that’s a a little bit much more bullish assertion than wherever most of the current market is,” Jacobson reported. “We’re likely to proceed to watch it. But plainly, as we talked about with the $2 billion charge plan we’ve announced nowadays, we want to make guaranteed that we are careful and prepared for going ahead.”
Logistical challenges continue to be
Logistics troubles and source chain constraints are improving upon, but some problems continue to be, Jacobson informed analysts. GM’s North American fourth-quarter final results reflected greater volume and pricing, as very well as higher commodity and logistics costs, he claimed.
The organization finished 2022 with about a 50-working day provide of dealership inventory, such as in-transit cars, Jacobson said.
The amount of autos on dealership loads is “improving steadily, but however roughly a single-third the level we were at in mid-2019, supporting a favorable supply-and-desire atmosphere,” he claimed.
GM aims to have a 50- to 60-working day offer at the end of 2023, which would be 20 to 30 times below mid-2019 levels, assuming logistics difficulties keep on to simplicity, Jacobson stated.
Incentives in North The usa probable will maximize from the traditionally very low levels witnessed in 2022, he mentioned, but “we be expecting this headwind to be partially offset by acknowledging the whole-yr advantage of MSRP increases on quite a few model-year ’23 cars — significantly whole-size SUVs and vans — as effectively as pricing we expect to achieve on our new launches.”
UAW revenue sharing
GM stated its income-sharing payout to unionized U.S. employees is $500 million, a report. The company’s UAW-represented hourly employees each will obtain bonuses of $12,750 based on its $12.99 billion earnings in North The usa for the yr, the union claimed in a assertion.
“Our members are essential to the success of Typical Motors. UAW customers carry ability, encounter, and devotion to the position each individual working day and are effectively deserving of today’s information,” Mike Booth, the head of the UAW’s GM office, said in the statement.
“When we celebrate nowadays, we know that there are troubles ahead. We will proceed to struggle for fairness and equity for all UAW-GM associates.”
Disney
(DIS) is setting up to freeze selecting and slice some work opportunities as it strives to shift the Disney
(DIS)+ streaming support to profitability against a backdrop of economic uncertainty, according to a memo witnessed by Reuters on Friday.
Main Government Bob Chapek sent the memo to Disney’s leaders, expressing the company is instituting a specific using the services of freeze and anticipates “some modest team reductions” as it appears to be to handle expenditures.
“While certain macroeconomic factors are out of our manage, meeting these targets necessitates all of us to carry on carrying out our part to take care of the issues we can regulate – most notably, our prices,” Chapek wrote in the memo.
The move arrived just after Disney missed Wall Avenue estimates for quarterly earnings on Tuesday as the amusement huge racked up a lot more losses from its drive into streaming video clip, which it refers to as its direct-to-customer (DTC) organization. Shares of the firm fell far more than 13{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} on Wednesday subsequent its success.
Disney has stated the fast-growing support additional 12 million subscribers in its fiscal fourth quarter but claimed an operating decline of approximately $1.5 billion. The enterprise reported Disney+ would develop into worthwhile in fiscal 2024, with losses obtaining peaked in the quarter.
The streaming services is identified for unique series which include the “Star Wars” entries “The Mandalorian,” “Andor” and “Obi-Wan Kenobi,” the Marvel entries “WandaVision,” “Hawkeye” and “She-Hulk: Attorney at Regulation,” and content hubs for Disney, Pixar, Marvel and “Star Wars” films.
Wall Road analysts voiced problem about Disney’s escalating streaming costs. MoffettNathanson analyst Michael Nathanson noticed in a note this 7 days that “the business has to prove that their pivot to DTC will be worthy of the investment price tag that is at the moment being paid.”
Corporate The usa is creating deep cuts to its employee base to brace for an economic downturn. Meta said this week it would cut far more than 11,000 work opportunities, or 13{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of its workforce to rein in costs.
One particular of Disney’s studio peers, Warner Bros Discovery, has undergone spectacular expense-chopping endeavours, which includes layoffs, as the just lately merged corporation restructures its information operations.
Chapek reported Disney has recognized a undertaking force, which includes Chief Fiscal Officer Christine McCarthy and Typical Counsel Horacio Gutierrez, to assist him make “critical major image conclusions.”
The enterprise by now has started hunting at material and marketing investing, but Chapek explained the cuts would not sacrifice good quality. Selecting will be confined to a little subset of significant positions, and some employees reductions are expected as the company appears to make by itself additional charge-productive, Chapek wrote.
Chapek said business enterprise travel would be constrained and outings would demand progress approval, or carried out nearly as much as attainable.
“Our transformation is built to be certain we thrive not just right now, but properly into the potential,” Chapek wrote.
76 Devcorp starts a sturdy neighborhood engagement process to support make sure proposed arena enhancement is a get for supporters, Center Metropolis and Philadelphia at substantial
Philadelphia, Pa., JULY 21, 2022 – Josh Harris and David Blitzer, Managing Partners of the Philadelphia 76ers, introduced currently the development of a new advancement organization, 76 Devcorp, responsible for building the long term property of the Philadelphia 76ers. Led by Philadelphia small business leader David Adelman, in partnership with Harris Blitzer Sporting activities Enjoyment (HBSE), the Improvement Company is pursuing a privately-funded, goal-developed sports activities and entertainment arena, 76 Put, that will be situated on a part of the present-day site of Fashion District Philadelphia and serve as an anchor to Center Town.
“The Philadelphia 76ers are a storied Philadelphia institution with a verified track record of investing in their community. That’s why we’re fully commited to setting up a planet-course house in the heart of the Metropolis and building a privately-funded arena that strengthens ties within just the neighborhood local community as a result of investments that prioritize equity, inclusivity and accessibility,” mentioned Josh Harris, 76ers Controlling Lover. “David Adelman shares our vision for making sure that the new arena is an anchoring pressure in the nearby group, creating very well-spending employment and financial opportunities for people who need them most.”
Adelman, the CEO of Campus Flats, Co-Founder of FS Investments and Founder of Darco Capital, was appointed Chairman of the new progress enterprise with a mandate to find, structure and build a spot that serves as a entire world-class arena facility, but also a lever for the Metropolis of Philadelphia’s financial expansion by advertising and marketing transformative local community progress, neighborhood occupation development and equitable prosperity-making options. He was picked to lead the development task for his globally acclaimed accomplishments in actual estate progress in Philadelphia and nationwide, as properly as his dedication to local philanthropy and investments in Philadelphia startups.
“The Philadelphia 76ers’ intensive evaluation of likely internet sites for an arena in excess of the past two a long time culminates right now with strategies to pursue the Fashion District Philadelphia web site as the proposed new household of the staff,” reported Adelman. “The picked location is a crucial phase in the procedure of producing a location that offers Middle Metropolis and encompassing communities with an financial motor making activity through 76ers and youth video games, live shows, situations and extra.”
76 Devcorp cautiously evaluated a lot of likely internet sites right before analyzing Fashion District Philadelphia as its preferred spot. The web-site was chosen mainly due to it remaining the most transit-prosperous place in all of Philadelphia, the potential to redevelop an present commercial area, and the possibility to enjoy a position in the ongoing revitalization of Centre Metropolis.
The Progress Corporation will spouse closely with Macerich, the taking care of husband or wife of the proudly owning entities and operator of Trend District Philadelphia, to understand the total likely of the internet site. “At Macerich, we are continually boosting our attributes to convey greater benefit to our shareholders, suppliers and communities,” said Tom O’Hern, CEO of Macerich. “The determination to repurpose aspect of Trend District Philadelphia to consist of the new 76ers arena is a organic evolution of the web page and a exceptional and once in a life time chance for our enterprise. We are dedicated to functioning collaboratively with 76 Devcorp to bring to life the vision of this legendary development that will assure Philadelphia’s vibrancy for generations to appear.”
A robust community engagement process is prepared to ensure local community passions assist generate the options for the proposed growth and that it suits in just the context of bordering communities, whilst also being responsive to the demands of adjacent neighborhoods. In the spirit of this job currently being mutually useful for the Sixers and the broader Philadelphia group, 76 Devcorp anticipates partnering with surrounding group improvement teams to build a Neighborhood Benefits Settlement that makes certain the forthcoming arena has a good effect from the commence of construction to opening and past.
“Our pledge is to advance equitable, neighborhood-pushed revitalization by this job and to assure the arena is a acquire for supporters, Philadelphia and the encompassing communities,” reported David Gould, 76ers Chief Variety and Impact Officer. “We seem forward to listening to and functioning with the regional group, including regional organizations, companies and people, particularly in Chinatown and Washington Square West, to build a Community Rewards Settlement that final results in lengthy-term optimistic effect.”
Led by HBSE’s $20 million motivation to tackle disparities developed by systemic racism, the Development Corporation is committed to investing in beneath-resourced communities to progress equitable, community-driven revitalization. A major tenet of the undertaking will be equitable progress, bringing group users to the table by using new positions and co-growth roles. 76 Devcorp will collaborate with Mosaic Enhancement Partners, a Black-owned, Philadelphia-based true estate advancement organization with practical experience in reasonably priced housing and inclusive communities. In January, Josh Harris invested $10 million into Mosaic Growth Associates to assistance their modern operate to extend equitable enhancement throughout Philadelphia communities.
The new, privately-funded arena is expected to price close to $1.3 billion. The arena will give $1.9 billion in over-all economic output during construction and $400 million annually on opening to help Philadelphia’s extended-phrase financial advancement and sustainability.
“We’re energized for the opportunity to create the upcoming house of the 76ers in Center City,” stated David Blitzer, 76ers Co-Managing Associate. “I glance ahead to doing work with David Adelman and his staff to develop and establish an impactful arena for our followers, our gamers and the City of Philadelphia.”
The development will be accomplished in time for the 2031-2032 NBA period. Floor-breaking for the proposed task is not expected for quite a few many years. The standard public and lovers can keep up to day on the development of the progress undertaking by traveling to 76Position.com.
“Quite basically place, there is no much better spot to build an arena in Philadelphia than in Center Metropolis, with its robust community transit infrastructure and existing dynamic firms keen to provide followers and people alike. 76 Devcorp is motivated by quite a few productive athletics and amusement arenas built in dense urban centers that market integration with the encompassing communities. We’re dedicated to making sure this advancement is a acquire for our lovers and Philadelphia at significant,” stated Adelman.
Sony is beefing up its PlayStation Furthermore subscription provider with new options and a wider variety of games for gamers to stream or download.
On Tuesday, Sony confirmed it will merge the recent PlayStation Furthermore company with PlayStation Now, where by players can stream a wide range of video games for a month to month selling price, into just one greater platform.
Starting up this June, PlayStation Furthermore will present online video match console entrepreneurs 3 choices: an entry-level Essential prepare, alongside with Extra and High quality programs. The Vital system will price $59.99 a calendar year or $9.99 a month. The Additional system will expense $14.99 a month ($99.99 each year), and the Premium strategy expenditures $17.99 a thirty day period ($119.99 a calendar year).
“Our aim is on supplying superior-excellent, curated articles with a varied portfolio of online games,” claimed Jim Ryan, president and CEO of Sony Interactive Amusement, in a assertion.
Here is a breakdown of what each and every program delivers:
PlayStation Furthermore Critical
The entry-level approach will perform just like the existing membership, providing individuals two totally free every month downloadable game titles as properly as exclusive discount rates. Subscribers also get cloud storage for saved online games, as perfectly as entry to online multiplayer modes for all game titles such as “Fortnite” and “Get in touch with of Obligation.”
PlayStation Plus Additional
The Excess strategy delivers every little thing in the Vital solution but also attributes access to up to 400 games from the PlayStation 4 and PlayStation 5 libraries out there to download.
PlayStation Furthermore Top quality
High quality subscribers attain obtain to a variety of PlayStation 3 game titles out there to stream, as effectively as unique video games from the very first PlayStation, PS2 and the PlayStation Portable. Subscribers can also stream PS4 and PS5 titles. Sony says this tier provides accessibility to up to 340 more game titles. Players can also enjoy limited-time recreation trials.
Xbox Match Pass, Netflix-style provider
The revamp of PlayStation Moreover follows escalating desire in rival system Xbox and its Recreation Pass membership. The Recreation Go is a Netflix-type support the place players pay back a regular monthly cost for accessibility to dozens of movie games, including titles offered the day of launch.
Latest acquisitions by Microsoft are envisioned to bolster Match Move, which is obtainable to Xbox homeowners for $14.99 a thirty day period. Past year, Microsoft finished a offer to get ZeniMax Media, which owned studios guiding online video game titles these types of as “The Elder Scrolls,” “Fallout” and “Doom.”
It allows for a fully sealed enclosure. For everyone else, you’re sucking air in across filters and pushing it out the back. That’s how you’re cooling the power electronics, which get hot. For us, you’re not pulling any particulates into the charger.
The liquid cooling works its way around the enclosure and keeps it at the right temperature, and that lasts for five years before you need to replace the coolant. If you look at one of our chargers, you’ll see there’s a grille down the bottom, which may look like an air-intake vent. That doesn’t take any air into the top of the charger.
The heat moves into the base of the machine via the coolant and allows you to push the warm air out through that vent while the electronics are fully sealed in the top. It matters a lot where it’s corrosive or dusty or highly polluted. And it also matters where you have things climbing into chargers to nest inside.
We know competitors have issues with mice, rats, geckos, ants, all manner of things. You can imagine why a technology like this might have developed in a country where we have every creepy-crawly known to man, including snakes and spiders. They all are looking for somewhere warm and dry to nest. The sealed enclosure improves uptime (the share of hours when the chargers are working), which is critical. Liquid cooling enables that because you’re not pulling things across the insides of the charger; you’re not getting outages.
There are few things worse for an EV owner than to roll up to a broken charger, especially if there are not options nearby.
That hits the nail on the head. At the gas pump, if there is an outage, it has a sheath over it that says “out of order,” so you know not to queue there. But charging is an entirely different experience. We’ll go into PlugShare.com and read about the user experience and watch some of the YouTube videos that people post as they cross [the] country. They might have to move the car three times. A charger is out. They move it again, plug in, and it doesn’t work. It’s just a horrible experience. One thing that we really discourage our customers from doing is having only one charger at a key site.
What’s finally brought the EV industry to this tipping point?
In every country where the uptake of EVs is high, government has driven it. That’s very clear across the globe. It doesn’t have to be subsidies, but what it does take is an indicator from the government that they’re going to support the technology, that the change is coming and that next time you buy a car, you should buy an EV. People are waiting to hear that.
What you’re seeing with President Biden now is the kind of indicator that you need. It’s the government saying, “This is what’s coming.” That allows people to go out with confidence and buy an EV. The other thing is that several of the car manufacturers decided to go in, boots and all, and make the shift to EVs. So there’s no longer a choice for government to say, “We’re not shifting to EVs, we’re going to stick with internal combustion engine, or we’re going to do hydrogen,” because unless you make the cars yourself, you are not going have enough models.
Tritium seems like a relatively mature business for a SPAC. Why go that route?
It is one of the more mature. The SPAC vehicles are often for more speculative technology. Tritium had been around for quite some time and had been slowly building up revenue.
The company had been very tightly held by three large Australian industrial families, with one institutional investor.
And at the end of 2019, you could really see the market starting to pick up, and they recognized that they were going to need to capitalize in order to compete globally. So they had a very wide look across the market at trade sale options at the option to list. That was exactly as the SPAC market was starting to kick off. I remember the directors, and there’s a number of them who are older gentlemen, were saying, “What’s a SPAC?” But they were very quick to realize this is a phenomenal way of getting to market quickly and to access a material amount of capital, which the company was going to need to scale.
A COVID-19 variant first discovered in South Africa was dubbed “omicron” and classified a “variant of concern” by the World Health Organization on Friday, as the U.S. and other nations reacted to the newly discovered variant with travel restrictions.
Experts with the World Health Organization met Friday to assess the variant, which appears to have a high number of mutations in the virus’ spike protein, prompting worries about how easily it will spread. While good data on the risks of omicron is likely weeks away, the organization cited early evidence suggesting an increased risk of reinfection.
The U.S. said it will restrict travel from South Africa, as well as Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi, according to a statement from senior officials from the Biden administration.
The policy will take effect Monday, and President Joe Biden said the new rules mean “no travel” to or from the designated countries, except for returning U.S. citizens and permanent residents who test negative.
Infection rates in South Africa have “increased steeply,” coinciding with the detection of the variant, according to a Friday statement from the WHO. The first omicron case was reported to the agency from South Africa on Nov. 24, and the number of cases of the variant are increasing in almost all South African provinces, the WHO said.
While omicron is now in the same category as the delta variant, the extent of the public health threat the new variant will pose is unclear. The beta variant was classified a variant of concern but did not spread as far as initially expected.
The WHO urged countries to increase surveillance of omicron cases and genome sequencing efforts to better understand its potential impact.
Biden said the emergence of omicron emphasizes the importance of vaccinations and urged Americans to get their booster shots as soon as possible.
The new variant has also been found in Botswana and Hong Kong in travelers from South Africa, according to Joe Phaahla, the nation’s health minister. Phaahla said the variant has seen rapid spread in Gauteng, the country’s most populous province.
A baby cries as her mother receives her Pfizer vaccine against COVID-19, in Diepsloot Township near Johannesburg Thursday, Oct. 21, 2021. A new COVID-19 variant has been detected in South Africa that scientists say is a concern because of its high number of mutations and rapid spread among young people in Gauteng, the country’s most populous province, Minister of Health Joe Phaahla announced Thursday, Nov. 25, 2021.
Several nations, including Germany, Italy, the United Kingdom, the Netherlands, the Czech Republic and Japan, have responded to news of the variant by moving Friday to restrict air travel from several southern African countries. The European Union, which is made up of 27 nations, is also recommending a ban on flights from southern African countries, despite WHO officials warning against rash decisions.
►Israel announced Friday it detected the country’s first case of the newly discovered omicron variant in a traveler returning from Malawi. The traveler and two other people who are suspected to be infected with the variant have been placed in isolation.
►Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain whether the variant could potentially reverse months of progress at getting the COVID-19 pandemic under control.
►Czech President Milos Zeman was admitted to a hospital late Thursday after testing positive for COVID-19.
►The number of air travelers this week is expected to approach or even exceed pre-pandemic levels, and auto club AAA predicts 48.3 million people will travel at least 50 miles from home over the holiday period.
📈Today’s numbers: The U.S. has recorded more than 48 million confirmed COVID-19 cases and more than 776,000 deaths, according to Johns Hopkins University data. Global totals: More than 260 million cases and more than 5.1 million deaths. More than 196 million Americans — roughly 59.1{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of the population — are fully vaccinated, according to the CDC.
Omicron’s impact on vaccines unclear, but contingency plans already rolling out
Health experts have said it will likely be weeks before the world has good data about how omicron may reduce the effectiveness of current vaccines, but Moderna has already announced a three-point strategy to combat the new variant.
Omicron’s mutations could possibly reduce current vaccines’ effectiveness, but are unlikely to eliminate their benefit, according to Dr. Ashish Jha, dean of Brown University’s School of Public Health.
“There are a series of mutations in key regions that may impact effectiveness of our vaccines,” tweeted Jha on Friday. “Render vaccines useless? No. Super unlikely.”
Moderna’s strategy involves three options for boosting COVID-19 vaccination, should omicron prove problematic for current vaccines.
The three options, according to a Friday release from the company: A higher dose booster, shots currently being studied that are designed to “anticipate mutations such as those that have emerged in the Omicron variant” and an omicron-specific booster — which is already in the works.
Andy Slavitt, who previously served as President Joe Biden’s White House senior adviser for COVID response, said in a tweet that both Moderna and Pfizer-BioNTech have estimated a vaccine to combat a new variant could be developed in about 3 months, with regulatory and logistical hurtles to follow.
“If we start in early December, new vaccines could be available by summer in much of the world,” Slavitt tweeted.
Multiple media organizations on Friday reported Pfizer-BioNTech is studying the new variant and expects data within weeks. If warranted, a targeted vaccine could be developed within 6 weeks and ship within 100 days, the reports say.
Johnson & Johnson is also testing its current vaccine against omicron, according to CNBC.
‘It’s coming’: New York braces for omicron; hospitals already strained
New York Gov. Kathy Hochul on Friday announced an executive order intended to boost hospital capacity and address staffing shortages, a move that comes amid growing concerns about hospital beds and staffing.
Hospitalizations have already risen sharply recently in much of the state and could soar higher if omicron proves to be as highly transmissible as some fear. The variant has not yet been detected in New York.
“It’s coming,” Hochul said in a statement Friday.
Her order allows the state health department to limit non-essential surgeries, if needed, to ensure capacity. The governor said the order also will allow the state to acquire critical supplies more quickly.
Hospitals in other areas of the country are already stretched thin amid a spike in cases.
On Wednesday, the federal government said it would send 44 military medical staffers to Michigan to help beleaguered hospitals treat COVID-19 patients amid a fourth surge that is the worst in the country.
Facing hospitals filling up with COVID patients needing lengthy stays, Massachusetts Gov. Charlie Baker said Tuesday any hospital or hospital system facing limited capacity to care for patients will be required to reduce non-essential, non-urgent scheduled procedures beginning Monday.
— The Associated Press
FDA: Merck COVID pill effective, experts will review safety
Federal health regulators say an experimental COVID-19 pill from Merck is effective against the virus, but they will seek input from outside experts on risks of birth defects and other potential problems during pregnancy.
The Food and Drug Administration posted its analysis of the pill ahead of a public meeting next week where academic and other experts will weigh in on its safety and effectiveness. The agency isn’t required to follow the group’s advice.
The FDA scientists said their review identified several potential risks, including possible toxicity and birth defects. Given those risks the FDA will ask its advisers whether the drug should never be given during pregnancy or whether it could be made available in certain cases. Under that scenario, the FDA said the drug would carry warnings about risks during pregnancy, but doctors would still have the option to prescribe it in certain cases where its benefits could outweigh its risks for patients.
Given the safety concerns, FDA said Merck agreed the drug would not be used in children.
Additionally, the FDA flagged a concern that Merck’s drug led to small changes in the coronavirus’ signature spike protein, which it uses to penetrate human cells. Theoretically, FDA cautioned, those changes could lead to dangerous new variants. Regulators also noted that Merck collected far less safety data overall on its drug than was gathered for other COVID-19 therapies.
FDA will ask its independent advisers to discuss all those issues and then vote on whether the drug’s overall benefits outweigh its risks.
— The Associated Press
The Tough Guy balloon is driven down Sixth Avenue on a bicycle during the Macy’s Thanksgiving Day Parade, Thursday, Nov. 25, 2021, in New York. The Macy’s Thanksgiving Day Parade is returning in full, after being crimped by the coronavirus pandemic last year.
COVID-19 cases are rising again this holiday season
Despite early signs that suggested the U.S. may have avoided another winter surge, COVID-19 cases are on the way up.
The country reported 665,420 cases in the week ending Monday, more than a 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} increase from the pace of cases reported about a month ago, according to a USA TODAY analysis of Johns Hopkins data.
As cases rise in 39 states, U.S. Health and Human Services data show hospitals in 32 states admitted more patients in the latest week than the week before.
“Quite frankly, I’m really concerned,” said Danielle Ompad, associate professor of epidemiology at New York University’s School of Global Public Health. “I would say we are better off than we were last year, but cases are starting to tick up and that is something that we really need to keep an eye on.” Read more here.
— Adrianna Rodriguez
Will pandemic-weary shoppers turn out in full force for the holidays?
Buoyed by solid hiring, healthy pay gains and substantial savings, shoppers are returning to stores and splurging on all types of items.
But the big question is: How much will supply shortages, higher prices and staffing issues dampen their mood this holiday season?
Americans, already fatigued with pandemic-induced social distancing policies, may get grumpy if they can’t check off items on their holiday wish lists, or they may feel disappointed by the skimpy holiday discounts. Exacerbating their foul moods is the fact that many frustrated workers called it quits ahead of the holidays, leaving businesses short-handed during their busiest time of the year.
Shoppers are expected to pay on average of between 5{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} to 17{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} more for toys, clothing, appliances, TVs and others purchases on Black Friday this year compared with last year, according to Aurelien Duthoit, senior sector advisor at Allianz Research. TVs will see the highest price spikes on average, up 17{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from a year ago, according to the research firm. That’s because whatever discounts available will be applied to goods that are already expensive.
Such frustrations could mute sales for the holiday season that are supposed to break records.
