COVID-19 Monitor

Last Updated:October 15, 2020

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Where the tragedy really lies’: The crisis in Canada’s long-term care homes (CTV News) Published on: May 6, 2020 | Category: Canadian Business

A report released Sunday by the International Long-Term Care Policy Network (ILTCPN) found that those who live in long-term care homes comprise 62 per cent of Canada’s COVID-19-related deaths – the highest share in any of the 13 countries it studied.
The Public Health Agency of Canada said Tuesday that COVID-19 outbreaks at long-term care homes are responsible for 82 per cent of coronavirus-related deaths in Canada.

Millions of Americans will refuse to get a coronavirus vaccine when it becomes available, polls say (Seattle Times) Published on: May 6, 2020 | Category: Global Response, Leadership

But there’s no guarantee these vaccine efforts will succeed — and millions of Americans seem to be fine with that.
The results from a new set of surveys by Morning Consult found that 14 percent of American adults would not get a COVID-19 vaccine if one were available and 22 percent aren’t sure if they would.
By a wide margin in the Morning Consult surveys, Republicans (20%) are more likely than Democrats (7%) to insist they would not get vaccinated against COVID-19.

As US, other nations open for business, health officials wonder how bad the second COVID-19 outbreak will be (Chicago Tribune) Published on: May 6, 2020 | Category: Global Response

From Italy to Kansas, health authorities are increasingly warning that the question isn’t whether a second wave of coronavirus infections and deaths will hit, but when — and how badly.
In India, which partly eased its virus lockdown this week, health authorities scrambled Wednesday to contain an outbreak at a massive market.
Germany warned of a second and even third wave, and threatened to re-impose virus restrictions if new cases can’t be contained.

A return to 1970s stagflation is only a broken supply chain away (FT) Published on: May 6, 2020 | Category: Economic Impact, Global Response

Central bankers insist that inflation expectations are anchored.
Consumer retrenchment will persist only until a Covid-19 vaccine arrives. If this takes another 12 to 18 months, as scientists believe, pent-up demand will build as never before.
Therein lies the inflationary risk for the post-coronavirus world. As part of a growing backlash against globalisation in general, and China in particular, nations are threatening to bring their offshore platforms back home.

Capital One’s North American, UK offices to stay closed until September (National Post) Published on: May 5, 2020 | Category: Global Response

Capital One Financial Corp told staff on Tuesday the bank’s offices in the United States, Canada and the UK will remain closed to all non-essential staff due to the coronavirus outbreak through at least Sept. 7.
As other banks are developing plans to gradually return workers to offices, Capital One has adopted one of the toughest stances by a financial services firm to curb the spread of coronavirus and limit staff interaction at its corporate locations.
“We have been able to operate effectively,” Fairbank said. “Given current health conditions and uncertainties in our major markets, we feel this decision supports the health and safety of our associates and communities.”

One in five Wendy’s is out of beef, analyst says (CNN) Published on: May 5, 2020 | Category: Economic Impact

The national meat shortage has come for Wendy’s.
Around 1,000, or 18%, of Wendy’s 5,500 US restaurants are not serving any hamburgers or other meat-based items, according to an analysis of online menus at every location conducted by financial firm Stephens.
Many meat suppliers have temporarily closed their factories because workers are falling ill from Covid-19.

New Zealand PM: No open borders for ‘a long time’ (BBC) Published on: May 5, 2020 | Category: Global Response

New Zealand Prime Minister Jacinda Ardern says the country will not have open borders with the rest of the world for “a long time to come”.
Ms Ardern said New Zealand and Australia were discussing a “bubble of sorts between us, a safe zone of travel”.

Wall Street ‘flying blind’ after companies scrap guidance (FT) Published on: May 5, 2020 | Category: Economic Impact

The number of US blue-chips offering full-year profit guidance alongside their first-quarter earnings has been cut in half, leaving Wall Street analysts struggling to assess the full impact of measures to contain the spread of coronavirus.
America’s earnings season has passed the halfway mark, with 283 companies in the S&P 500 having reported by Friday last week. Within that group, 53 of the 103 companies that provided earnings guidance earlier this year have scrapped it according to Credit Suisse data.
The bank expects just 23 per cent of S&P companies to offer guidance for the year, a little less than half the usual proportion.

The Restart (McKinsey) Published on: May 5, 2020 | Category: Leadership

Eight actions CEOs can take to ensure a safe and successful relaunch of economic activity.
The best approach is to develop a detailed relaunch map—country by country, site by site, segment by segment, customer by customer, and product by product—in order to prioritize recovery opportunities.
Companies will need to provide products and services that adhere to the most rigorous health and safety conditions, and be able to show or explain them to clients.

Who pays the bill? The coming deluge of pandemic litigation (FT) Published on: May 5, 2020 | Category: Economic Impact

Trial lawyers are mobilising, seeing an almost bottomless well of negligence cases against employers, and businesses big and small.
Stricken companies are turning to insurers desperate for the cash. Others are trying to shed obligations.
Even more importantly, the vast potential liabilities will greatly exceed the ability of many defendants to pay them.
Once lockdowns are lifted, fear of costly suits alone could hamper the recovery.

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