World Coronavirus Dispatch: 2 mn more UK adults into financial troubles

Photo: Bloomberg
European governments began to deploy curfews more widely: European governments began to deploy curfews more widely, as the coronavirus pandemic gained momentum across the continent and France reported more than 40,000 new cases for the first time. Daily infections are hitting records around Europe, and cases in France surged by 41,622 Thursday. Against that backdrop, authorities are expanding a curfew beyond Paris and other large cities, with some 46 million people told to stay at home from 9 pm to 6 am starting Friday at midnight. Read more here

Let’s look at the global statistics:



Total Confirmed Cases: 42,214,376

Change Over Yesterday: 480,101

Total Deaths: 1,144,319

Total Recovered: 28,555,103

Nations hit with most cases: US (8,493,748), India (7,814,682), Brazil (5,353,656), Russia (1,471,000) and France (1,084,659)

AstraZeneca and J&J get go-ahead to resume Covid-19 vaccine trials: Major US Covid-19 vaccine trials from AstraZeneca and Johnson & Johnson were given the green light to restart on Friday, after the US regulator concluded it was safe to resume testing the experimental candidates. The two drugmakers’ US trials had been paused as the FDA investigated whether serious adverse events could be linked to the vaccines. Read more here

Australia may reopen state borders in time for Christmas: All states and territories except for Western Australia agreed to a framework that would end regional border closures before December 25, according to a statement. The details will be finalized by the next meeting of federal and state leaders. Work continues on efforts to increase the number of Australians allowed to return from overseas, with options such as quarantining at home or in university housing or with private providers. Read more here

Covid drags 2 million more UK adults into financial troubles: A Financial Conduct Authority survey estimates that shuttered restaurants and empty offices pushed the total number of adults facing financial hardship to 12 million in July, up from 10 million in February. The poll of 7,000 people in July found 31 percent of UK adults have suffered a decrease in income during the pandemic, and that percentage is higher for young and non-white people. Read more here

US daily cases exceeded 70,000 for the first time since late July: The seven-day average of new cases rose to 61,141 on Thursday, the highest since August 1. The virus is still hitting the Dakotas, Montana and Wisconsin hardest, but the alarming trend has been slowly moving to Illinois, Indiana, Michigan, Ohio and even Pennsylvania. That spread is running into rising cases in New Jersey, Connecticut and other parts of the Northeast. Read more here

Sri Lanka shuts harbors amid spike: Sri Lanka closed at least two fishery harbors and a number of stalls after a surge in hundreds of cases tied to the main fish market in the South Asian nation. Hundreds of traders and fishermen are being tested. Authorities also widened curfew in parts of Colombo. The fish market was temporarily closed on Wednesday after 49 traders tested positive for Covid-19, and the number of cases had spiked to 609 by Saturday. Read more here

Virus to stay 'at least until next summer': French President: Emmanuel Macron said his country will be fighting the virus until at least the middle of next year as cases there surged past a million. On Friday, France recorded more than 40,000 new cases and 298 deaths. Other nations including Russia, Poland, Italy and Switzerland also saw new highs. The WHO said the spike in European cases was a critical moment in the fight against the virus. Read more here

Specials 

The pandemic has forced virtually every company to rethink its compensation plans
Roughly one in six US workers won’t get a raise in 2021, according to the results of a survey late last month by human-resources consulting firm Willis Towers Watson. About a third of the 705 companies that participated said they have reduced the money budgeted for pay increases for next year. “For many companies, reducing salary budgets and in some cases suspending pay raises was the most viable option” to not only stay competitive but also keep their finances in order, said Catherine Hartmann, leader of the North America Rewards practice at Willis Towers Watson. The surveyed companies, which employ a combined 14.3 million workers, said decisions to reduce or eliminate raises mostly stemmed from expectations that they will post weaker results and broader concerns about costs. Around half of the respondents said they plan on going ahead with their planned raises. Read more here

At Home: Ideas for lifting your mood this weekend
The things that are lifting our spirits are those that take us outside of ourselves — music, nature, family, simple pleasures. Read here to know how people are spending their leisure time.



Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel