COVID-19 Monitor

Last Updated:October 15, 2020

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Nunavut government paying millions for residents to quarantine at Ottawa hotel (CBC) Published on: August 9, 2020 | Category: Canadian Business, Global Response

In an effort to keep its COVID-19 case count at zero, the Nunavut government has paid nearly $5 million for more than 1,200 of its residents to quarantine at an Ottawa hotel before returning home.
In order to return home, residents require a letter from Nunavut’s chief medical officer of health confirming they have completed a 14-day self-isolation.
So far, the government has spent $21 million for residents to isolate, the territory’s department of health wrote in a statement to CBC News.

Saudi Aramco Says Profit Fell 73 Percent as Demand for Oil Shrank (NY Times) Published on: August 9, 2020 | Category: Economic Impact, Global Response

Saudi Aramco, the world’s largest oil company, said on Sunday that its quarterly earnings plunged more than 73 percent compared to a year ago, as lockdowns imposed to curb the coronavirus pandemic drastically cut the demand for oil and slammed prices.
Despite the steep fall in earnings, to $6.6 billion from $24.7 billion, the company said it would continue paying a quarterly dividend of $18.75 billion, almost three times its cash flow.
Continuing to pay such a large dividend distinguishes Aramco from other oil giants, like BP and Royal Dutch Shell, which have recently cut their payouts to preserve capital in difficult times.

In 2020, back-to-school shopping means frantically searching for other families to ‘bubble up’ with (Washington Post) Published on: August 9, 2020 | Category: Global Response

Quaran-teams, double bubbles, pandemic pods, micro-schools — whatever you want to call them, young families are seeking some friends for the end of the world as they knew it.
Now, as the virus has eluded containment and worsened in many states, parents are waking up to the idea that they will be more or less on their own for another six to nine months.
For several weeks, the parents have been meeting online for post-bedtime strategy sessions.

Cruise industry’s hopes for relaunch this month taking on water (Taipei Times) Published on: August 8, 2020 | Category: Economic Impact

Hopes that the world’s cruise industry would be gathering steam again in time for the holiday season that begins this month are sinking, as some ports remain closed and authorities impose new COVID-19 health rules.
For its part, Costa Cruises, which is part of the Carnival group, told reporters that it is “working on plans for a gradual resumption of cruises when the authorities of the home and destination ports say it is possible to do so.”
Costa Cruises’ new guidelines say all passengers are subject to a health check as they board and that “all crew members are subject to daily body temperature checks and their state of health is monitored constantly,” according to its Web site.

Trump signs 4 executive actions on coronavirus aid (Axios) Published on: August 8, 2020 | Category: Global Response

Defer payroll taxes for Americans earning less than $100,000 a year.
Implement a moratorium on evictions and give financial assistance to renters.
Add $400 per week in extra unemployment benefits through the end of 2020, requiring states to cover 25% of the additional benefits.
Postpone student loan interest and payments through the end of 2020.

Bill Gates is spending $150 million to try to make a coronavirus vaccine as cheap as $3 (Vox) Published on: August 8, 2020 | Category: Global Response, Leadership

Gates on Friday said that he and his foundation would spend $150 million to distribute vaccines, if they are found, to some of the world’s poorest people.
The Gates Foundation is handing the money to the Serum Institute, the largest manufacturer of vaccines globally by volume, to produce 100 million doses that would cost at most just $3 each.
Twenty-eight different possible vaccines have progressed to human trials, each of which has different manufacturing costs and requires different materials and precision.

Hard hit businesses pay only fraction of rents in July (FT) Published on: August 8, 2020 | Category: Economic Impact, Global Response

While groceries and other retailers selling essential goods have largely paid what they owe, many restaurants and discretionary retailers have not.
Illinois-based Retail Properties of America, which owns 102 shopping centres and other properties, said its collection rates for movie theatres and amusement and play centres were only 9 per cent and 6 per cent, respectively.
Private equity-backed businesses have paid less than their listed peers, according to figures from Spirit Realty Capital, a Dallas-based Reit with $6.3bn in assets under management.

Canada adds 418,500 jobs, recouping 55% of COVID losses (BNN Bloomberg) Published on: August 7, 2020 | Category: Canadian Business

The employment rebound in Canada has outpaced the U.S., which has recovered 42 per cent of its payroll losses.
The employment gains were largely expected as provinces, particularly Ontario, moved to more aggressively reopen their economies, prompting businesses to rehire workers.
July’s gains were mostly part-time, with 343,500 added in July, versus 73,200 full time positions.
Canada lost 3 million jobs in March and April at the height of the pandemic.

Dr. Anthony Fauci says chance of coronavirus vaccine being highly effective is ‘not great’ (CNBC) Published on: August 7, 2020 | Category: Global Response

White House coronavirus advisor Dr. Anthony Fauci that the chances of scientists creating a highly effective vaccine — one that provides 98% or more guaranteed protection — for the virus are slim.
Scientists are hoping for a coronavirus vaccine that is at least 75% effective, but 50% or 60% effective would be acceptable, too, he said.
The FDA has said it would authorize a coronavirus vaccine so long as it is safe and at least 50% effective.

The U.S. economy is on the verge of a ‘lost year’ (Washington Post) Published on: August 7, 2020 | Category: Economic Impact, Global Response

According to Pew Research, people are growing more pessimistic about how America’s leaders have handled the virus and the nation’s ability to contain it, which only digs a deeper hole for the economy.
As soon as the virus flares in a part of the country, cellphone data show people immediately stay home instead of instead of venturing out to restaurants, stores and entertainment.
As so much hangs in the balance, the bulk of the federal government aid for small businesses and unemployed has expired.

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