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☆ The supply chain crisis is coming to an end — but 2 looming threats could reignite the chaos
▼ + stars: | 2022-12-20 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Holiday shopping went well, so you might assume supply chains are fixed. At a quick glance, supply chains have healed and shopping seems back to normal. Supply chains are running much more smoothly than they have in more than two years right now. A major indicator that supply chains have been off balance is the inventory-to-sales ratio, which is tracked by the US Census Bureau. A return to seasonal rushes and lulls, without massive, global disruptions, will be the sign that supply chains are "back to normal."

☆ China steps up support for private sector to boost Covid-hit economy
▼ + stars: | 2022-12-19 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Beijing has vowed to go all out next year to save its Covid-hit economy by boosting consumption and loosening control over private industry, including the struggling tech and property sectors. Covid infections are surging in China after leaders unexpectedly eased its restrictive Covid policy earlier this month. Stabilizing economic growth is the top priority for 2023, according to an official readout following the conclusion of the Central Economic Work Conference (CEWC), a key annual meeting of top leaders, which ended Friday. “We need to encourage and support the private sector economy and private enterprise in terms of policy and public opinion,” the statement said. A shopping mall is decorated with rabbit stickers to welcome the Lunar New Year, the Year of the Rabbit, on December 10, 2022 in Beijing, China.

☆ As more men leave the workforce, women are stepping in to fill those jobs
▼ + stars: | 2022-12-15 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

And that is reflective of new trends developing both for men and women in the labor force. In recent months, more men aged 30-44 have been dropping out of the workforce, according to data from the Bureau of Labor Statistics. Although more men are stepping out of the workforce to take care of children post-pandemic, it’s still only in the single digits, according to economist Richard V. Reeves. The data showed that the total number was skewed more towards women than men, since so many women assumed caretaker roles at home when daycare centers and schools closed during lockdowns. Since then, men and women have gained back all the jobs lost.

☆ Biden administration offers U.S. households more free COVID-19 tests for winter
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Evelyn Hockstein/IllustrationWASHINGTON, Dec 15 (Reuters) - U.S. households can order four free at-home COVID-19 tests from the government website COVIDTests.gov beginning on Thursday as part of the Biden administration's efforts to tackle coronavirus infections over the winter. The administration would start shipping orders of the latest round of free tests during the week of Dec. 19. Free tests will also be made available at as many as 500 major food banks, the White House said. The Biden administration came under criticism a year ago for not ensuring enough tests were available in the midst of a surge of COVID-19 cases and deaths. The administration later procured hundreds of millions of tests to make available at no cost to the public.

☆ Philadelphia schools will require masks as U.S. COVID cases spike
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

Philadelphia is among state and local agencies around the United States rolling out mask mandates or recommendations this month to fight a new surge in virus cases, which is expected to grow as Americans travel and socialize around the winter holidays. Health experts say the U.S. healthcare system is under strain because of a "tridemic" caused by COVID-19, influenza and respiratory syncytial virus (RSV). There is debate over the mandates' efficacy, as months of stringent public health rules early in the pandemic exacerbated the public's COVID fatigue and stoked political controversy. California's public health department on Thursday told Reuters it was urging people to wear masks, but stopping short of requiring them. While the political will to impose mask mandates may have waned, covering one's face remains the best way to avoid getting sick - and infecting others.

☆ Biden administration makes at-home Covid tests available for free again this winter
▼ + stars: | 2022-12-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Biden administration is making rapid Covid tests available for free again this winter through a limited round of ordering. Households can now order a total of four rapid Covid tests for free at CovidTests.gov. The Biden administration shut down the free at-home Covid test program in September because Congress did not pass additional funding to replenish the U.S. stockpile. The relaunch of the free at-home test program is part of the Biden administration's preparedness plan for Covid this winter. The federal government is also calling on hospitals to offer Covid vaccination to patients who are unvaccinated before they are discharged.

☆ Maryland bans use of TikTok, other Chinese, Russian products by state agencies after NBC News report
▼ + stars: | 2022-12-06 | by ( Sarah Fitzpatrick | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kit-Ramgopal-Byline.Jpg | ) www.nbcnews.com time to read: +3 min

The state of Maryland on Tuesday banned the use of TikTok and other Chinese and Russian products by state agencies, citing reporting by NBC News about hackers linked to the Chinese government stealing millions in Covid benefits from state governments in the U.S. “There may be no greater threat to our personal safety and our national security than the cyber vulnerabilities that support our daily lives,” said Gov. In the past, Alibaba and Alipay have declined to comment about accusations of being national security risks. WeChat has denied being a national security risk. Also in November, the state of South Dakota banned the use of TikTok by state agencies.

☆ The Fed may wreck one of the greatest booms in history of Main Street America
▼ + stars: | 2022-12-06 | by ( Tim Mullaney | ) www.cnbc.com time to read: +5 min

As interest rates rise, inflation lingers and home equity that many business founders use to get started shrinks, small business formations are doing something unexpected – they're rising. If the data persists, the resilience in small business formation points to a "new plateau" of activity that may add millions of jobs to the economy, Haltiwanger says. But the risks include the Fed itself choking off financial conditions so much that the small business boom is smothered. Danny Sweis opened his in the summer of 2022. If that lasts, that means 4 million per year, offset by 2.5 million lost as other small businesses close.

☆ Hackers linked to Chinese government stole millions in Covid benefits, Secret Service says
▼ + stars: | 2022-12-05 | by ( Sarah Fitzpatrick | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kit-Ramgopal-Byline.Jpg | ) www.nbcnews.com time to read: +11 min

Hackers linked to the Chinese government stole at least $20 million in U.S. Covid relief benefits, including Small Business Administration loans and unemployment insurance funds in over a dozen states, according to the Secret Service. One senior Justice Department official called it “dangerous” and said it had serious national security implications. ‘The horse is out of the barn’As soon as state governments began disbursing Covid unemployment funds in 2020, cybercriminals began to siphon off a significant percentage. China’s targets include state governments, which can have inadequate cybersecurity defenses. “The state governments don’t allocate a lot of cyber protection money to their state I.T.

☆ Chinese hackers stole millions worth of U.S. COVID relief money, Secret Service says
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 5 (Reuters) - Chinese hackers have stolen tens of millions of dollars worth of U.S. COVID relief benefits since 2020, the Secret Service said on Monday. The Secret Service declined to provide any additional details but confirmed a report by NBC News that said the Chinese hacking team that is reportedly responsible is known within the security research community as APT41 or Winnti. APT41 is a prolific cybercriminal group that had conducted a mix of government-backed cyber intrusions and financially motivated data breaches, according to experts. The Chinese embassy in Washington did not immediately respond to a request for comment. Reporting by Christopher Bing; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Average 30-year fixed mortgage rates have dropped below 6% for the first time since late September. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year fixed mortgage ratesThe current average 30-year fixed mortgage rate is 6.49%, according to Freddie Mac. 15-year fixed mortgage ratesThe average 15-year fixed mortgage rate is 5.76%, a decrease from the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and have increased significantly so far in 2022.

☆ European Union agrees to a $60-per-barrel price cap on Russian oil
▼ + stars: | 2022-12-02 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

BRUSSELS — The European Union tentatively agreed to a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. The $60 figure sets the cap near the current price of Russia’s crude, which recently fell below $60 a barrel. There is a big risk to the global oil market of losing large amounts of crude from the world’s No. Putin has said he would not sell oil under a price cap and would retaliate against nations that implement the measure. “The reality is that it is unlikely to be binding given where oil prices are now.”Others have criticized the measure, a brainchild of U.S. Treasury Secretary Janet Yellin.

☆ Debt woes and zero-Covid: China's cities are running out of cash to pay huge bills
▼ + stars: | 2022-12-02 | by ( Laura He | ) edition.cnn.com time to read: +9 min

They spent 11.8 trillion yuan ($1.65 trillion) more than they raised in revenue between January and October, borrowing heavily to do so, according to data from China’s Ministry of Finance. Andy Wong/AP‘Widest in history’For nearly three years, local governments have borne the brunt of enforcing pandemic controls. The weak fiscal position of local governments has been a drag on the country’s overall financial standing. Kevin Frayer/Getty ImagesLow income, high costsWhy are local governments in this parlous state? In May, Beijing told local governments that they had to bear the costs for regular Covid testing in their regions.

HONG KONG — Chinese authorities are moving to ease strict “zero-Covid” controls, in an apparent response to a nationwide wave of protests that have otherwise been suppressed. Police form a cordon in Beijing on Monday during a protest against China’s strict “zero-Covid” measures. Kevin Frayer / Getty ImagesChinese authorities have mostly stamped out the protests, with heavy police presence at protesters’ former gathering sites. Like other Chinese leaders, Jiang showed little tolerance for dissent, jailing activists and banning the Falun Gong religious movement. But the political environment has greatly tightened under Xi, leading some people in China to reassess Jiang’s legacy.

☆ Long Covid may be 'the next public health disaster' — with a $3.7 trillion economic impact rivaling the Great Recession
▼ + stars: | 2022-11-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +12 min

Norpel is one of millions of Americans with long Covid, also known as long-haul Covid, post-Covid or post-acute Covid syndrome. Key symptoms: Long Covid has been linked to more than 200 symptoms, according to The Rockefeller Foundation. Duration: There's no consistent definition of how long symptoms must persist for someone to be considered a long Covid patient. What experts do know is that for some, long Covid symptoms can last months or even years. "I don't know if it's for the rest of my life or not," Hurst said of feeling long Covid symptoms.

☆ Weakness in Apple’s stock could be a warning for the broader market, chart technicians say
▼ + stars: | 2022-11-29 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Apple stock was down more than 2% Tuesday, after declining Monday and Friday. Apple's sizeable weighting Apple is 6.5% of the S & P 500 market cap, and technical analysts say it has implications for the broad market both in price impact and sentiment. Apple is 6.5% of the S & P. I would say it's remarkable how strong the S & P 500 is today with a 2% decline in Apple. "I can't imagine that happening without getting a sell signal on the S & P chart." She said the S & P 500 chart is maintaining a buy signal that has been in place for several weeks.

☆ China's people are protesting the country's severe zero-COVID policies, and public-health experts agree with them
▼ + stars: | 2022-11-29 | by ( Morgan Mcfall-Johnsen | Paola Rosa-Aquino | ) www.businessinsider.com time to read: +7 min

Protests are erupting across China over the country's restrictive zero-COVID policies. Public-health experts say the policies are unsustainable, ineffective, and unnecessarily severe. Without vaccination campaigns targeting older adults, China's lockdowns may only delay a catastrophic COVID wave. Tyrone Siu/ReutersThere is no easy way forward for China, but constant 2020-style lockdowns are not the solution, according to public-health experts, who called the policies unsustainable, ineffective, and irrational. As a result, Huang thinks the zero-COVID lockdowns are completely unwarranted.

☆ Beware of these stocks in your portfolio with the biggest China risks as Covid protests erupt
▼ + stars: | 2022-11-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A wave of unrest in China could spell trouble for investors holding stocks with sizeable chunks of revenue exposed to the country. Protests erupted across China over the weekend as citizens pushed back against the country's strict and prolonged zero-Covid protocols . Here are some of the stocks we found: Tesla is the largest company on the list by market capitalization, with more than a quarter of its revenues exposed to China. Another stock in our screen is elevator manufacturer Otis Worldwide , with a little over 20% of revenues exposed to the country. Many semiconductor stocks such as Intel , Nvidia and Advanced Micro Devices also made the list — including Qualcomm , with the highest revenue exposure to China on the list.

☆ U.S. criticizes China's zero Covid strategy, says Beijing needs to boost vaccination among elderly
▼ + stars: | 2022-11-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The White House on Monday criticized Beijing's zero Covid strategy as ineffective and said the Chinese people have a right to peacefully protest. "We've said that zero COVID is not a policy we pursuing here in the United States," the NSC spokesperson said. Vaccination rates among the elderly, one of the groups most vulnerable to Covid, are low in China compared to other countries. Dr. Ashish Jha, head of the White House Covid task force, said China should focus on making sure the elderly get vaccinated. Lockdowns and zero COVID is going to be very difficult to sustain," Jha told ABC's "This Week" on Sunday.

☆ Flu season continues to intensify in the US, and holiday gatherings could make it worse
▼ + stars: | 2022-11-28 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +5 min

And the CDC estimates that there have been at least 6.2 million illnesses, 53,000 hospitalizations and 2,900 deaths from influenza this season. Less than two months in, the RSV hospitalization rate this season is already nearing the total RSV hospitalization rate from the entire 2018-19 season. The latest surveillance data does not capture Thanksgiving week or the effects of holiday gatherings. Covid-19 cases, hospitalizations and deaths reached record high levels during last year’s holiday season – and this holiday season could also bring a rise in spread. Flu shots are lagging, too, with millions fewer vaccinations at this point in the season than in the past two years.

☆ Is Gen Z working? It all depends on what you consider a 'job.'
▼ + stars: | 2022-11-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's taken time for Americans of all ages to return to work, but older Gen Zers are most lagging. It may all have to do with how Gen Z views a job versus a side hustle or gig work. And those answers could partially explain a question economists are puzzled over: Where have the Gen Z workers gone? While he's uncertain where the missing Gen Z workers have gone, he says childcare needs could be part of the answer. If Gen Z has embraced gig work over the corporate life, it could be among the reasons many of them say they're living paycheck to paycheck.

China’s technology sector has taken a pounding since watchdogs cancelled Ant’s $37 billion stock market debut at the last minute in 2020. The Hang Seng Tech index (.HSTECH), which includes social media giant Tencent (0700.HK) and JD, has fallen another 38% this year. China's powerful market regulator proposed amendments on Tuesday to a law on unfair competition. The e-commerce giant intends, in addition, to allocate at least 10 billion yuan to offer employees interest-free loans to buy a house. The benefits include plans to allocate 10 billion yuan ($1.40 billion) to a fund to assist employees of JD and recently acquired courier firm Deppon Logistics with buying homes.

☆ Foreign workers laid off from Big Tech face a deadline: Find a job ASAP, or leave the country
▼ + stars: | 2022-11-17 | by ( Brahmjot Kaur | Sakshi Venkatraman | Sakshi Venkatraman Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +10 min

Under the umbrella of a tech giant, not only would he have job security, he thought, but visa security as well. Originally from China, he needed the sponsorship of an H-1B work visa to stay in the U.S.A year went by in his new role and everything seemed to be going well. immigration policy has amplified the uncertainty for immigrant workers in times like this. “It’s definitely harder trying to find a job or trying to find a company that’s willing to sponsor you. “This really helped drive the tech boom in the U.S. and made the U.S. the big tech hub,” Khanna said.

☆ These biotech stocks look cheap — and analysts give 2 more than 100% upside
▼ + stars: | 2022-11-16 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. biotech stocks have been on the up recently. To identify biotech stocks that look cheap and are expected to rally looking ahead, CNBC Pro screened the iShares Biotechnology ETF on FactSet. The ETF, which tracks U.S. biotech stocks, has jumped around 10% in the past month, and risen more than 4% in the past week. Two stocks stood out as having average potential upside of more than 100%, and a buy rating from all analysts who cover them. One stock — Chimerix — had an average price target upside of 266% from analysts, 83% of whom gave it a buy rating.

☆ Covid-19 rebound may be more common in people who take Paxlovid, early study suggests
▼ + stars: | 2022-11-16 | by ( Brenda Goodman | ) edition.cnn.com time to read: +8 min

Covid-19 rebound also seems to be more common in people who take Paxlovid compared with those who don’t take the antiviral, although it can happen in either circumstance. In the past few months, instances of Covid-19 rebound have peppered headlines. That study found rebound happened about twice as frequently in people taking Paxlovid as in those who took the placebo. Among the 127 who took Paxlovid, about 14% saw their viral loads climb again after treatment. At least one study has documented a case of a person with rebound Covid-19 who took Paxlovid and passed the infection to an infant.

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