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Our briefing for Wednesday, August 4, 2021:
Aug 4, 2021 3:07:24 PM
- In the United States, the city of New York became the first major U.S. city to make vaccines mandatory for entry to restaurants, gyms and other indoor businesses. Mayor Bill de Blasio made the announcement on Tuesday, in an attempt to get more New Yorkers vaccinated. The policy will come into effect on September 13 and will require New Yorkers to show proof of at least one dose. Tyson Foods announced earlier this week that they will require their employees to show proof of vaccination. The federal government and several states already require their employees to be vaccinated.
- In Canada, the province of Manitoba is removing their mask mandate and removing almost all remaining Covid-19 restrictions as they move into their next phase of reopening. “Thanks to the remarkable efforts of Manitobans, we are now in a position to reopen more, sooner, as we have achieved our highest vaccination rates yet," Premier Brian Pallister said. The province is ahead of their vaccination targets, with 80% of people having had at least one dose, and more than 71% fully vaccinated. Capacity limits will also be eliminated for most businesses and there will be no limit on indoor and outdoor gatherings at private residences. The changes take effect on Saturday.
- In the United Kingdom, vaccines may become more available to those 16 and 17 years old, government officials have said. The Guardian reports that Michelle Donelan, the universities minister, said the Joint Committee on Vaccination and Immunisation (JCVI) is reconsidering whether vaccine access should be extended to teenagers, and will be making an announcement shortly. Currently vaccines for those over 12 are limited to those who have underlying health conditions or those living with people who are high risk. Some countries, including Canada, the U.S. and France, are already routinely vaccinating those over age 12.
- In South Korea, according to the Korea Disease Control and Prevention Agency (KDCA), the country has detected its first two cases of the new delta plus variant, a sub-lineage of the delta variant. So far only a few countries, including Britain, Portugal and India, have reported cases of delta plus. Experts are still studying the delta plus variant but some say it might be more transmissible. The KDCA reported 1,725 new coronavirus cases on Tuesday, up more than 500 from a day before. About 39.3% of people in South Korea have received at least one shot while approximately 14.2% have been fully vaccinated.
- In Japan, a contentious new policy was announced by the government that requires coronavirus patients with moderate symptoms to isolate at home instead of in hospitals. The plan is intended to save hospital beds for those with the most serious symptoms. On Wednesday Tokyo reported another record high of 4,166 cases as the city grapples with the highly contagious delta variant. Health Minister Norihisa Tamura defended the policy in parliament, saying the delta variant has created conditions that are “unseen in the past.” The policy has drawn a lot of criticism from medical experts who warn that it could be putting people at risk by asking them to stay home .
- In Australia, a man in his 20s from New South Wales has died after becoming infected with Covid-19, authorities reported. The man was not vaccinated and had no underlying health conditions. His death is one of the youngest deaths the country has seen since the pandemic began and was one of two Covid-19-related deaths reported by New South Wales in a 24-hour period. New South Wales also recorded 233 new cases. State Premier Gladys Berejiklian said things will likely get worse. “If you look at the number of people infectious in the community, it indicates that perhaps we haven’t reached our peak,” she said.
Covid-19 – Due Diligence And Asset Management
Three quarters of UK startups confident about the next 12 months, Angel Investment Network survey finds
Brief: Despite seeing growth significantly impacted during the pandemic, the vast majority of UK startups are now confident about the next 12 months. That's the key finding of a survey of startup opinion, conducted by Angel Investment Network (AIN), the UK’s largest online angel investment platform. In the largest study it has ever conducted, AIN surveyed the views of 645 UK startups 18 months after the pandemic first hit. Despite 59 per cent seeing growth negatively impacted, nearly three quarters are now optimistic about the next 12 months (72 per cent), with 42 per cent very optimistic – up from 23 per cent when a similar survey was conducted at the start of the pandemic. Of those who have raised in the past year, 54 per cent reported being negatively impacted with investors pulling out. Meanwhile 68 per cent reported delaying fundraising as a result of Covid.
ECB Won’t Rush to Signal Future of Pandemic Program, Kazaks Says
Brief: Investors waiting for a heads-up from the European Central Bank on the future of pandemic bond-buying in September will probably be disappointed, according to Governing Council member Martins Kazaks. With nearly 600 billion euros ($713 billion) left to spend and the program running at least through the end of March, it would be much too early for a decision on whether to extend or phase out purchases, he said in an interview. Coronavirus infections are rising again across much of the region, threatening new restrictions that could jeopardize the recovery.
Vanguard Offers $1,000 to Employees to Get Vaccinated by October
Brief: Vanguard Group Inc. is offering $1,000 to employees who get vaccinated by October, according to a person familiar with the matter. The asset manager is extending the payments to all workers who can prove they’ve gotten a Covid-19 vaccine, even if they were inoculated before the firm extended the offer. A Vanguard spokeswoman confirmed the company is offering an incentive. “We are offering a vaccine incentive for crew who provide Covid-19 vaccination proof,” she said in an emailed statement, adding that the company rewards employees “who have taken the time to protect themselves, each other, and our communities by being vaccinated.”
North American markets continue to rise despite mounting COVID-19 case numbers
Brief: North American markets moved up on the first day of August trading in Canada, even as concerns mount around rising COVID-19 case counts in the U.S. Scott Guitard, senior vice-president and portfolio manager at Fiduciary Trust Canada, said it was a typically slow start to the summer month in terms of volume. However, he said markets managed to continue upward movement on Tuesday thanks to second quarter earnings that beat expectations last week, and the belief that the U.S. is prepared to weather the Delta variant of the coronavirus.
Delta variant wreaking havoc on America’s return to office plans
Brief: The Delta variant is wreaking havoc on companies’ return-to-office plans. Uber, Apple and Google are among the latest to push their return dates back by a month – from September to October. Employment website Indeed took it one step further, announcing its employee return-to-office date is now Jan. 3, 2022. “Health risks are at a peak these days because of this pandemic, and we’re still learning about what’s going on every single day,” Paul Wolfe, Indeed’s Senior Vice President of Global Human Resources, told Yahoo Finance. “Our guiding principle through the entire pandemic has been the health and safety of our employees.” Commuting time and costs are a top concern for workers dreading a return to the office, according to a recent Indeed report published in July
