COVID-19 Monitor

Last Updated:October 15, 2020

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Women’s Careers Could Take Long-Term Hit From Coronavirus Pandemic (WSJ) Published on: July 15, 2020 | Category: Leadership

Juggling work and family has never been easy. Under pandemic conditions, some women say it is proving impossible.
Opening economies without schooling and child care is a “recipe for a generational wipeout of mothers’ careers,” said Joan Williams, a professor at the University of California Hastings College of the Law and the founder of the Center for WorkLife Law.
Women are exiting the workforce at a slightly higher rate than men, federal data show. In March, 57.3 per cent of U.S. women were either working or looking for work.

Hospitals Stock Up on Covid-19 Drugs to Prepare for Second Wave in Fall (WSJ) Published on: July 14, 2020 | Category: Global Response

Hospitals across the country are stocking up on drugs for treating Covid-19, hoping to avoid another scramble for critical medications should a second wave of the virus threaten new drug shortages.
Meanwhile, many hospitals elsewhere are looking ahead to secure supplies of other medications that have recently been found effective for some patients, including the generic steroid dexamethasone and the antiviral remdesivir.
About 90% of hospitals and health systems are building safety stocks of about 20 critical medications, according to Premier Inc., one of the nation’s largest group-purchasing organizations.
Premier says more than half are trying to build at least one month’s supply of medications, including those for patients on mechanical ventilation.

CDC director: U.S. could get coronavirus “under control” in 4–8 weeks if all wear masks (Axios) Published on: July 14, 2020 | Category: Global Response

If everyone in the U.S. wore a mask, the coronavirus pandemic could be “under control” within four to eight weeks, Centers for the Disease Control and Prevention director Robert Redfield said in a discussion led by medical journal JAMA on Tuesday.
The CDC published two reports on Tuesday that studied how wearing face coverings can reduce COVID-19 spread for businesses and how mask usage was easily adopted among some racial and ethnic groups from April to May.
Another case study shows 139 clients were exposed to two symptomatic hair stylists with confirmed COVID-19. Both the stylists and customers wore face masks and no symptomatic secondary cases were reported.

As Europe’s Economies Reopen, Consumers Go on a Spending Spree (NY Times) Published on: July 14, 2020 | Category: Economic Impact

Consumers in Europe are going on a shopping spree as their economies reopen, offering hope that a fragile recovery from a deep pandemic-induced recession may be taking hold.
Retail sales in the eurozone, which plunged to record lows while millions were confined, surged 17.8 per cent in May from the month before, as people fanned out to buy furniture, electronics, clothing and computer equipment, Europe’s statistics agency reported this week.
The current binge has doused some worries that Europeans might feel too shaken to spend again, as happened in China, where many chose to curtail expenditures after losing their jobs or having their pay slashed.

Canada-U.S. border closure to be extended for another 30 days, say officials (CBC) Published on: July 14, 2020 | Category: Canadian Business, Global Response

CBC News has confirmed that the agreement to restrict travel across the Canada-U.S. border will be extended into August.
The agreement, which has to be reviewed each month, was set to expire on July 21. It’s now being renewed for the fourth time since the border closed to non-essential traffic on March 21.
Canadian government officials say they expect the border to stay largely closed for the foreseeable future, despite calls from U.S. members of Congress to consider a phased plan for reopening.

JPMorgan loan loss charges top $10bn on ‘uncertain outlook’ (FT) Published on: July 14, 2020 | Category: Economic Impact

JPMorgan Chase took a record $10.5bn in loan loss charges in the second quarter as the biggest US lender warned of “uncertainty” ahead even as some indicators have pointed to a nascent economic recovery.
“Despite some recent positive macroeconomic data and significant, decisive government action, we still face much uncertainty regarding the future path of the economy,” said Jamie Dimon, JPMorgan’s chief executive.
The corporate and investment bank, which more than doubled profits to an all-time record of $5.5bn, was the standout performer.

‘I Can’t Keep Doing This:’ Small Business Owners Are Giving Up (NY Times) Published on: July 13, 2020 | Category: Economic Impact

More owners are permanently shutting their doors after new lockdown orders, realizing that there may be no end in sight to the crisis.
Nearly 66,000 businesses have folded since March 1, according to data from Yelp, which provides a platform for local businesses to advertise their services and has been tracking announcements of closings posted on its site.
From June 15 to June 29, the most recent period for which data is available, businesses were closing permanently at a higher rate than in the previous three months, Yelp found.

COVID-19 roundup: CEWS extended to December (The Logic) Published on: July 13, 2020 | Category: Canadian Business, Economic Impact

Ottawa plans to extend its wage subsidy program “until December,” to “give greater certainty and support to businesses as we restart the economy,” Prime Minister Justin Trudeau pre-announced on Monday.
The requirement disqualified high-growth companies and software-as-a-service business models; scale-ups like point-of-sale tech firm TouchBistro and fintech Borrowell cited their ineligibility for the program when they laid off staff in April.
The TSX, S&P 500 and Nasdaq closed down after California rolled back its reopening plans.

Consumers Want Anti-microbial Coatings in New Vehicles in light of COVID-19 and are Willing to Pay, according to IHS Markit (Business Wire Consumer News) Published on: July 13, 2020 | Category: Economic Impact, Global Response

The survey across five major markets* indicates an increase in demand, with 54 per cent of the nearly 800 consumers saying they were “very interested” or “interested” in having an anti-microbial coating in their next personal vehicle.
While it is not economical to coat entire interior surfaces of a vehicle, IHS Markit expects OEMs and suppliers to deploy cost-effective countermeasures on critical surfaces.
Additionally, IHS Markit found that 25 per cent of consumers said that they will not use ridesharing after the COVID-19 pandemic and 80 per cent of consumers expect their rideshare vehicles to have some sort of disinfecting supplies going forward.

Jumbled Covid-19 Border Rules Baffle Companies, Stymie Tourism (WSJ) Published on: July 13, 2020 | Category: Economic Impact, Global Response

After many countries reopened schools, businesses and restaurants, governments world-wide are wrestling with another coronavirus dilemma: When to throw open their borders again.
Health officials and citizens in many countries are convinced that keeping some restrictions on flights and other arrivals—potentially for months—will be necessary to prevent further infections.
Pressure over the issue is building, especially in countries that depend on tourists and foreign talent.
What’s emerging is a spaghetti bowl of travel regulations that will likely act as a brake on the global economic recovery for a long time.

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