WHAT YOU NEED TO KNOW
U.S. stock futures point to a rebound following yesterday’s retreat as investors watch for second-quarter results from the biggest banks. Starting with JP Morgan, Wells Fargo, and Citigroup, these bank earnings will offer some indication of the nation’s economy as a whole. Whether banks will add to provisions for losses remains an overriding question this quarter after Q1’s profitability hit.
The U.S. budget deficit reached $3 trillion in the 12 months through June due to stimulus spending and plunging tax revenue. The Congressional Budget Office projected the annual deficit to grow to $3.7 trillion in the fiscal year ending in September.
The number of coronavirus infections around the world hit 13 million on Monday, climbing by one million in five days. The pandemic has now killed more than half a million people in less than seven months. Miami, FL has become the new coronavirus epicenter with more than 2,000 patients hospitalized and hundreds in ICUs.
In Latin America, the number of deaths from coronavirus has now exceeded the figure for North America for the first time since the pandemic’s genesis. A combination of poverty, informal labor, and poor healthcare, especially in remote areas, accelerated the spread of the virus. Infections largely stem from Brazil, Mexico, Peru, and Chile. In early July, Latin America accounted for more than half of the deaths attributed to coronavirus around the world every day. In Mexico, municipal cemeteries have begun exhuming bodies in order to make room for the recently deceased.
In its first examination of U.S. data on COVID-19 and pregnancy, the Centers for Disease Control and Prevention found that expectant mothers with the virus had a 50% higher chance of being admitted to intensive care than nonpregnant women. This finding came in late June – after months of silence from the CDC. Experts argue this lag in research is putting pregnant women and babies at risk. In California, a second pregnant woman died from coronavirus and more than 70 pregnant women in a county east of Los Angeles have COVID-19. Doctors found that Latina and Black pregnant women are testing positive for coronavirus at disproportionately higher rates, according to data from 14 hospitals.
As legal protections preventing evictions during coronavirus are set to expire, one analysis finds up to 23 million families could face eviction by October. A Census Bureau survey from June revealed about 20% of renters missed paying their May rent as unemployment leaves many unable to afford necessities. Some areas are worried COVID-19 could cause a homeless crisis as local moratoriums on evictions end. In Arizona, the state’s homeless problem could be exacerbated by extreme summer heat. With summer descending on the country, local governments are scrambling to provide safe refuges. In Colorado, eviction courts are accelerating with landlords filing more than 800 cases since June 1.
Workers are on strike at a Burger King in Santa Monica, CA after a transgender employee died from COVID-19. Employees claim the woman worked for a week despite showing symptoms and management has yet to close the store for deep cleaning. The pandemic has exposed an increased socioeconomic vulnerability for lesbian, gay, bisexual, transgender, and intersex populations, according to a new survey. One in five transgender adults has at least one chronic illness and a large portion of transgender people have hesitations about going to the doctor, fearing they may face discrimination.
Residents at a U.K. care home recreated iconic album covers, including covers from Adele, Bruce Springsteen, and David Bowie. After being on lockdown for four months, the activities manager wanted to keep spirits up while visitors and outside entertainment weren’t permitted, prompting a photoshoot complete with makeup and drawn-on tattoos
NAVIGATING THE PANDEMIC
COVID-19 and new immigration restrictions could spur an offshoring boom in tech – Protocol – 7/14/2020
Mikko, who asked that Protocol withhold his last name, already had a valid H-1B visa, the type reserved for highly skilled workers. And his wife and oldest daughter had also secured H-4 visas, which are designated for the family members of H-1B workers. But with consulates closed throughout the spring and early summer, their 6-month-old son was still waiting.
Will there be a second stimulus check? Everything you need to know
Senate Majority Leader Mitch McConnell has also pledged that there will be another stimulus package, acknowledging that low-income Americans have been hit particularly hard by coronavirus.
Hotels tweak their model and mission to survive the pandemic – Quartz at Work – 7/14/2020
Indeed, big hotel chains are aligning themselves with renowned medical research institutions. The Four Seasons, the New York property of which is still serving as a dorm for first responders, has partnered with Johns Hopkins University; Marriott has formed a “Global Cleanliness Council,” […]
Conspiracy Theories Aside, Here’s What Contact Tracers Really Do – NPR – 7/14/2020
Misinformation abounds, from tales that people who talk to contact tracers will be sent to nonexistent “FEMA camps” — a rumor so prevalent that health officials in Washington state had to put out a statement in May debunking it — to elaborate theories that the efforts are somehow part of a plot by global elites, such as the Clinton Foundation, Bill Gates or George Soros.
What’s next for Tony Fauci, if the White House continues to sour on him? – STAT – 7/14/2020
Fauci’s role in public outreach has visibly diminished since spring, when he would regularly accompany Trump to daily White House coronavirus task force press briefings. His public role has since been reduced to sporadic appearances on podcasts, at scientific gatherings, or in print news stories. Fauci said recently he hasn’t briefed the president since June.
WHAT INFLUENCERS ARE SAYING
Jim Roberts @nycjim 14 Jul In the new epicenter of the nation’s #coronavirus crisis, South Florida lawmakers call on Gov. Ron DeSantis to impose another statewide Stay-At-Home order.
Alex Putterman @AlexPutterman 13 Jul Air travelers from hotspot states will soon be required to check in upon arrival in Connecticut and disclose where they plan to quarantine.
Perryana Grande @Yelix 13 Jul love to see that my hometown is the “newest coronavirus hotspot”
Stephen Cobb @zcobb 13 Jul If Florida were a country, it’d be 4th in world for most new cases in a day after US, Brazil, and India. Florida has exceeded highest daily tally of any European country even at height of pandemic, and New York’s peak when it was epicenter of US outbreak.
Doug Hanks @doug_hanks 14 Jul Mistake on my part. The Wuhan tally of 50,000 COVID cases is on par with Miami-Dade’s report of 67,000 cases. Dr. Lilian Abbo of @univmiami made the comparison between Miami-Dade and Wuhan’s outbreak, and the numbers match-up. Read for details.
Turbine Labs has tracked 41,844 media articles and blogs over the last 24 hours and 1,575,574 social media posts over the last 24 hours.